Builders going belly up
Seems like many builders of Noida are going bust or in NCLT like Jaypee, Lotus, Amrapali etc. with such a situation I want to see reference from fellow Members which builders can still be trusted. Even supertech is in bad state. What about Ats, Prateek. Are they still ok? more
Viewed by 282
Most large scale construction depends on a very huge initial capital investment. In our country, such amount of money is not easy to get. It is true that there used to be alternative sources of funds. However such funds were being used to make cash payments for the construction. The sudden change in the policies have blocked the payments which were otherwise a source of the initial capital. Plus the taxation on the property market is fairly high. The banks charge substantial amounts of money to both the builders as well as the home buyers. The banks earn double in their interests. A lot of fine tuning and careful balancing needs to be done for the builders to be back in the business. For a change, the government needs to relax it's financial policies both to the builders and the home buyers. more
Jan 12
