TOUGH TIME - Delayed delivery: Developers in a spot

Created on 26.06.2016 23:47:46
TOUGH TIME - Delayed delivery: Developers in a spot

Raising his voice for the tens of thousands of homebuyers who are awaiting the possession of their dream homes, Union Urban Development Minister M Venkaiah Naidu recently asked all developers including Amrapali Group to fulfil the promises made to the consumers.

A number of developers have said that the Union Minister was right. Trust of the customers has to be retained at any cost. While arguing that timely delivery of projects helps them win customers' trust, developers argue that a number of factors have come up in the recent years that have made the situation even more complex for the developers.

Aman Agarwal, director, KV Developers, says, “Developers need to obtain all necessary approvals from concerned authorities such as municipal bodies, environment clearances bodies, land, water clearance, etc. There are many challenges and delay in the approvals of projects by numerous departments makes things tough for builders. This process can be further worked upon in a smooth way as it is in the other developed parts.“

Gaurav Gupta, general secretary, CREDAI Raj Nagar Extension, says that in order to maintain a healthy relationship with customers it is very important that developers honour all the commitments they make with the homebuyers.

“Builders should be loyal to their words and maintain that the promises made are fulfiled. The major issues leading to discrepancy between builder and buyers are related to maintenance or deliveries,“ Gupta points out.

Deepak Kapoor, president, CREDAI Western UP, drives home that point that developers should not claim what they cannot deliver and things which are beyond their control. “These days major conflict between homebuyers and developers is delay in deliveries. Prior analysis of the market conditions with their effects and proper management are things to be taken care of to avoid any kind of crisis.“

Prashant Tiwari, chairman, Prateek Group, notes, “Buying a home is a big investment as people spend their life savings and hard earned money to own a home of their dreams. Builders must make sure that they promise what they can deliver considering their finances, market situations and other fac tors as well. If something is promised it should definitely be delivered. Communicating well with customers and keeping transparency in working is also important to gain the trust of home buyers. In NCR, the major reasons for delays have been land issues and court cases. The builders, homebuyers and authority need to work on these issues together.“

Parveen Jain, president NAREDCO, who is also the CMD of Tulip Infratech, says that real estate projects are stalled due to paucity of funds, delay in approvals and certain other government policies. “We, developers do value our customers, but it has to be understood that the scenario cannot change all of a sudden. The sector needs time to catch up with the pending projects and build a conducive business environment in order to fulfil the expectations of the consumers.“



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