After years and years of manipulating every loop hole in the system, the builders fraternity has suddenly found that their "cheese" has diminished !!
Across the country, especially in Mumbai, where the maximum of construction is concentrated, there is a clear slowdown in construction activity.
Hundreds of construction sites have either stopped all activity or on a "very slow pace"
Across the country, especially in Mumbai, where the maximum of construction is concentrated, there is a clear slowdown in construction activity.
Hundreds of construction sites have either stopped all activity or on a "very slow pace"
Just last month, three major property exhibitions organized by the Maharashtra Chambers of housing industry (MCHI) scheduled were cancelled. This is itself unprecedented.
1000s of hopefuls buyers would flock these exhibitions hoping to get some discount and also see the choice available.
What prompted this ?
Simple ! The Chief Minister of Mumbai along with Muncipal commissioner Subodh have tightened the norms for clearance of a projects making them more transparent and getting rid of some of the loop holes that builders exploited to make their dirty crores !
1000s of hopefuls buyers would flock these exhibitions hoping to get some discount and also see the choice available.
What prompted this ?
Simple ! The Chief Minister of Mumbai along with Muncipal commissioner Subodh have tightened the norms for clearance of a projects making them more transparent and getting rid of some of the loop holes that builders exploited to make their dirty crores !
So then is it surprising now that this same group how is planning a country-wide strike, even though its only for a day !!
The confederation of real estate developers association of India (CREDAI) will be co-ordinting the same and hope that Prime Minister Manmohan Singh to intervene in the matter . "Mr Prime Minister, please give us our Cheese back !!!"
The confederation of real estate developers association of India (CREDAI) will be co-ordinting the same and hope that Prime Minister Manmohan Singh to intervene in the matter . "Mr Prime Minister, please give us our Cheese back !!!"
While all the above is completely true, no less true is the fact that the Government of India works at its own pace and style. Departments work in isolation. Departments such as aviation, environment, archaeology, etc all work in isolation. Hence a builder has to interact and "sweet handshake" a number of Govt babus, before he can begin, continue and handover a project. This not only leads to huge corruption but also huge delays.
With costs of construction and borrowing funds so expensive, any delay leads to high financial losses, which in turn leads to higher costs to the end-buyer !!
In conclusion, I would like to believe that we are now at a cross-road which the REALITY industry has not passed before. !
Builders are being asked to clean up their act
and in turn they are putting pressure on the Government to clean up its own act too !!
The "cheese' in the present situation has turned scarce, the builders fraternity will have to get their act together, even if it means trying to push a lumbering Government system !!
With costs of construction and borrowing funds so expensive, any delay leads to high financial losses, which in turn leads to higher costs to the end-buyer !!
In conclusion, I would like to believe that we are now at a cross-road which the REALITY industry has not passed before. !
Builders are being asked to clean up their act
and in turn they are putting pressure on the Government to clean up its own act too !!
The "cheese' in the present situation has turned scarce, the builders fraternity will have to get their act together, even if it means trying to push a lumbering Government system !!