I trust Modi Ji! But is he listening?
At this time, there are several delayed construction projects in our country where some of them are proceeding slowly, while others have come to a complete stop due to several reasons. The question of the hour is, what is our government doing about this?
India is one the developing countries and there are several opportunities for investments, real estate being one of them. Modi Ji has been asking NRIs to invest in India, however, when NRIs have invested in some of the real estate projects, they have had to face some of the worst problems. Consider the ongoing issue of Spire Woods and Spire Edge projects where the construction has halted since last two years. The Spire Edge project, which is an IT Park commercial project, has over 1200 investors and about half of them are NRIs. While the project started on time and about 60–65% of construction is completed, the investors stopped getting their returns from past two years as the developer had filed for liquidation. In such cases, where the NRIs are investing their hard earned money but are not getting the worth for their money and are getting duped, it becomes difficult for them to reconsider investing in India. Many of these NRIs have had to make several unwanted trips to Delhi to get the matter sorted. It is only now that the matter is being heard in the High Court and the revival scheme will soon be implemented to the satisfaction of all the investors and home buyers. But the issue still remains the same, while we all trust our beloved Prime Minister and his provisions for the citizens, is he listening to our problems?
As can be seen in the case of Spire Woods and Spire Edge, even though things are now falling into place with the sustained pressure from Haryana government and the buyers, it took two long years of fight and struggle to get the ball rolling once again. Would it not be better, if there were systems and processes in place which would just forbid developers and builders from committing any sorts of frauds and ensuring all projects get completed on time? And it is not just about the builders, there is so much of bureaucracy and there are so many steps involved till the ownership of the property gets transferred to the buyer that one ends up spending more money and time. If all these problems get addressed, then India would definitely be one of the developed countries in the world.
Yes, we do trust Modi Ji as we can see the efforts that his government is taking in all aspects, and the changes that it has brought in our lives, but if those changes can also be brought in the real estate sector then that would be just the much-needed silver lining.
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