Tuesday, 3 November 2015

The value of on-time possessions in the real estate industry

In the changing times, where there is an increase in the per capita income of an individual in India year after year, there is also an increase in instability. The rich are getting richer and the poor are getting poorer. Governments are playing their role, however, corruption is a challenge not easy for the society to cross easily. And thus a rise in the security concerns in the hearts of people is growing with time. There is an apprehension in every aspect of the society, not just outside but within homes too. If you go out buying vegetables or other food items, you fear if you will get them pure or adulterated.  You are not sure what a restaurant is actually serving you inside your orders apart from just their name, Shahi Paneer or Malai Kofta. While getting the so called profit or money out of their restaurant business, did they use hygienic methods and pure raw material or made your recipe delicious while procuring putrid potatoes and rotten tomatoes with only cost cutting in their head. Our government has incorporated measures to curb the corrupt practices people and businesses are getting into like ISI Marks or Agmark etc. However, there still are ways to get around the same and the race between the right and wrong is continuing and expected to go on forever.


Where there are corrupt practices being followed in every trade of business, be it big or small, life threatening or peace disrupting, there is one segment that has one of the biggest effects on the consumer's, real estate. That is for a simple reason that it involves a big quantum of money or to say the lifetime earnings of many. In the year 2015, a 2 BHK flat cost even around half a Crore Indian Rupees in an area around the outskirts of Chandigarh. So is it easy to arrange for such huge amount of money for everyone? Not really! And even if it is, probably just once in a lifetime for some. Hence, one can imagine how insecure a common man gets while his/her lifetime considering the number of  frauds that have happened in the recent past. Even though you get a chance to fight a legal case however that is not what you opted for. Getting a property not as per specified by the builder is one, but getting it late is a different ball game altogether. Recently we have heard so many cases in this industry where people invest money or take up loans from banks to get their new home in a couple of years, but the project gets delayed by many months or even years resulting in a delay in possession. The scenario for the investor in such a case is disastrous.  On one side, he has to pay the loans and on the other side, he is not getting what he is paying for. There are more severe scenarios too. Recently there was a news in the media that one of the residential projects did not even get started till the committed possession dates. The repercussions on the investors can just be imagined.


Need is what everyone runs after and should run after two, however, when the need turns into greed that is where the problems start. It is not just the government that is required to play its part, but more importantly the entrepreneurs who need to maintain the ethics of business. Not to mention, especially when it is like the possessions of homes what is a dream or a lifetime achievement for many.

Recently, we, i.e. Mona Townships Pvt. Ltd. experienced a feeling of satisfaction after delivering the 3 BHK units to our beloved customers, ON TIME, ONCE AGAIN! To complement the same we organized an event while handing over the keys to our beloved customers. Understanding the importance of not just the possession of homes, but even other aspects of a property, Mona Townships aims to serve its customers better each time.

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