Builder Scam/Banking Scam/Corrupt System=Common Man's Suffering! Who will give us JUSTICE?

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If you ever wanted your own Home, if you ever dreamt of your Dream Home, you should read this!!

Owning a home is a lifelong dream for most Indians, especially in crammed-up cities where they live to work and to survive. In a country where over 78million people remain homeless, the working class having no roof over their head continues to be at the receiving end. Apart from the high prices, what has compounded the matter for home buyers is the rampant cheating and corruption by some big developers and the corrupt administration that's hand in glove with them. Despite having a bevy of regulators and agencies in place, owning a home remains a distant dream for home hunters.

In Mumbai, the Mecca of real estate, the regulator Maharashtra Real Estate Regulatory Authority (RERA), which came into existence a few years ago, had rekindled hope in thousands of hapless home buyers. But things seem to have gone from bad to worse now, with no single window in place for speedy redressal of investors' grievances.

Home buyers who have struggled through their lives, worked hard to earn every rupee, mortgaged themselves for 20-25years to pay back hefty bank loans, pledged their life savings to book their dream homes, are now starting at a bleak future.

We are among the thousands of home buyers who have pledged our lifetime earnings with Housing Development Infrastructure Limited (HDIL) for the past 10 years. We now stand to lose our dreams -- our homes and all that we paid to the unscrupulous developer -- only because of the government apathy.

*The Vicious circle*

Man works hard, saves money, pledges his assets, takes loan from the bank, pays money to the builder. Banks extend loans to the builder. Man pays money to the Government in taxes.

Builder siphons off the money. He leaves the building midway. Banks wash off their hands claiming that it's not their responsibility. Police say not their problem; SEBI says not their lookout; Court gives dates and the government keeps quiet and the man keeps running from pillar to post for the rest of his life, blaming his misfortunes and praying to the Almighty.

This is the real story that’s being played out for us tens of thousands of home buyers in the city of Mumbai, perhaps millions in the country. This is perhaps one of the biggest scams going on in this country involving Millions of Hapless Buyers, dozens of Banks and thousands of Conniving, Corrupt government officials.

There are probably over 100 different permissions from various authorities that need to be secured before a real estate developer before handing over a completed Housing project. The banks are supposed to verify all credentials of a builder before lending the money and maintain escrow accounts to ensure the construction is completed in the stipulated time period. The government gets paid hefty 5-6% of the costs of the property as stamp duty and registration charges to ensure and secure that the titles are clear and documentations are in place.

The nexus between the builder and the government officials is so apparent. The builder's underhand dealings, his political clout, bribery, benami arrangements, fudged accounts, unaccountable wealth, manipulation of documents, connivance with the government officials, making use of all loose loopholes in our archaic laws… The builder eventually creates an NPA (Non-Performing Asset) for the lender, leaves thousands of home buyers in the lurch and still stays above the law. The Government (which is technically the Lender) will usually guarantee and write off such debts which in turn results in further deficit for the government Coffers which in turn is again funded by the Common Man, the Tax Payer by paying higher taxes, levies, surcharges on fuel, transport, goods etc. By certain estimates, this Scam could be anywhere between INR. 200,000-300,000/- Crores annually


Housing Development & Infrastructure Limited (HDIL)

Government / Govt agencies: Land Record Authorities, BMC, Slum Rehabilitation Authority, Securities and Exchange Board of India(SEBI)

Government = Reserve Bank of India (RBI), Public Sector Banks, Employees

Government = Enforcement Directorate, Economic Offences Wing, Police.

Government = The Judiciary


Any common man like you and me.

What is the fate of the common man?

Why is it that in every scam in the country, the common man is at the receiving end and it's always the poor and the middle class that's made to suffer for all the mistakes of all those wielding power? Why is that one entity can manipulate, bribe or connive with the entire government system (or be hand in glove with them) and cheat thousands of poor home buyers?

Why should the ordinary home buyer, the taxpayer suffer during his whole life, first to earn enough to dream a home and then to undergo all these cheating and then the bureaucratic apathy and thereafter the legal hogwash. Why do we pay the government? Isn’t it to protect our interests and our rights.

The government (and only the government) and every single person who is part of the concerned government bodies is responsible for all the mis-happenings that befall a common man. If they had done their Jobs right, we wouldn’t be in such a soup.

We need to change this!

The government should be held accountable!

If the people in all concerned departments (authorities with the land, the building, the permissions, the banks, among others) had done their due diligence, these things wouldn’t happen. It's usually paid oversight, deliberate neglect, political connections, bribery, corruption, etc that kill the common man every time. How difficult is it to investigate such scams to nail those who erred?

When will the government own up to its mistakes?

We, the people of India, the Common Man, the Tax Payer, the Voter has appointed this Government, We pay them, to safeguard our rights, our interests. The primary job of every single government authority and the Judiciary is to ensure that the safety and well-being of its Citizens but instead they take care of themselves.

We want Accountability. If the common man pays for its mistakes then the Government should also pay for its mistakes. Under no circumstances should the Common Man suffer or be penalized for the mistake of the system. Change the system or Change the Government. The Common Man paid for his Home with his Sweat and Blood and He/She should get his HOME! The LAW should protect the HOMEBUYER! Change the LAW, the Home Buyers right on his Home is FIRST and EXCLUSIVE!

I request every single Indian -the Common man, the home owners, prospective home buyers -- to sign this petition for CHANGE. Its been going on for Decades and this corruption will go on until we demand the CHANGE! Vote for the Change, Please sign this Petition!