Petition updateImplement RERA in Haryana immediately covering existing undelivered projects save familiesBanks and Lenders crack the whip on Realty Sector Defaulters for Loan Recovery
Subho BhattacharyaNew Delhi, India
Sep 6, 2016
This is a but natural fall out as reported in 'The Mint'-attached. This segment has seen a boutique of wilful defaulters and fraud/cheat companies who are trying their best to veer off loans and swindle gullible buyers money over the past few years-several notable ones like Vatika, Emaar MGF, Amrapali, Supertech, Lodha and ofcourse Unitech leading from front. Probably Govt machinery has woken up or is it just an eye wash to give these fraud companies more time.Good that the Banks and Institutions have tightened their grip in an otherwise epidemic which threatens to ruin tens of thousands of families and crash the economy. Sluggish markets may be cited as reasons but cheating, years of lopsided games favouring builders, mismanagement,spreading resources too thin, greed of fast buck and a lack of regulatory body is the result of this mess.Judiciary needs to be hyperalert now and we request Honourable PM and his top executives in Govt to take action immediately. Otherwise there will be chaos in India soon with huge global impacts.
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