Delhi NCR can be now termed as ' NCT of Diwaaliya nagar ' being the favorite & dream destination of numerous bankrupt builders. Here every & any builder can get himself declared bankrupt anytime.
Prior to the bankruptcy, all these renowned builders had collected lakhs of crores from home buyers. Got it. They got bankrupt after collecting 1000s of crores.
To lure maximum number of buyers , easy home loans for every newly launched project were arranged by builder from NBFC/Mid size banks like DHFL, INDIABULLS, PNB housing , union bank of india ,corporation bank etc etc. The builders always kept top bank brass happy. God only knows how ?. SUCH EFFORTS OF BUILDERS ENSURED THAT THE HOMEBUYERS GET TRAPPED EASILY & PAID BUILDER BY AVAILING THE EASY HOME LOANS .
BUILDER WITHOUT (R) WITHOUT AVAILING LOANS RECEIVED 1000s of CRORES. The responsibility of repayment of loans was now the responsibility of homebuyers, but the ownership of ' principle' money was with builder.This was new free way of funds arrangement at zero interest. Homebuyers got used as a scapegoat to raise loans at zero cost for the builders.Those home buyers who delayed payments to builders were made pay to 18- 24 % interest on late payments. The threat of cancellation of their dream homes ensured that even penal interest payments are made in time.
Banks got timely EMI with good interest & flashed their upward growth to everyone in the country.....
Builders siphoned off crores through the help of learned Chartered Accounts , who are the evergreen expert of the topic of ' How you can be bankrupt without any issues/ liabilities but with 1000s of crores ' in your other limited companies'.
The concept of Limited Companies saw its best exploitation in the ' NCT of Diwaaliya nagar' i.e Delhi NCR
Hundreds of tall unfinished structures of buildings are visible in almost every alternate sector of new gurugram , dwarka expressway, greater noida , noida extension, yamuna expressway sohna road.
The bankrupt Builders are now the MD/CEO of their other ' Limited companies' . Their new Limited company also ensure good remunrations ,palatial bungalow & Mercedes car for them.
The silver lining ; the middle class homebuyers are paying timely EMI without fail.....u know why ?
The answer is ' hope of having a sweet ' home ....
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