Good morning, when the recently completed NBCC Green View apartment complex in Gurugram - with 700 apartments - was declared unsafe for living, and subsequently queued for demolition, a lot of folks freaked out.
Who did: You see, NBCC, a government of India enterprise and the country's premiere construction agency, had built the infamous Green View complex.
When the Amrapali Group failed, leaving uncountable homebuyers out on the platform, NBCC was brought in to finish the pending Amrapali projects.
Naturally, homebuyers waiting to move into their apartments after eons are spooked. However, an NBCC spokesperson today asked Amrapali homebuyers to relax as there would be ‘no compromise on quality.’
Not enough to stop the ripples now, we reckon.
🏃♀️🍌🥛
Bad Neighbour Survival Toolkit
Just like mobile phone showrooms and Maggi makers can be found in the remotest corners of our fairly large country, a bad neighbour can be found anywhere.
Chances are, you are dealing with one too and sometimes, that makes you want to pack up and move to a new house. But before you take that extreme step, only to be in the company of new bad neighbours, try using this toolkit:
🛠 Mirror Mirror On The Wall: First up, ensure you aren’t the root cause of your neighbour’s bad behaviour. A terrible neighbour could be reacting to something annoying you’re doing.
🛠 Breaking The Ice: Catching up out on the driveway between buildings is an excellent way to start communications. Remember to be the first one to greet/wave.
🛠 Be Aware Of Trends: Doing something that's not cool in your neighbourhood or not doing something which a majority of your neighbours are into, will both be frowned upon.
🛠 Sympathise, Don't Accuse: Inconsiderate neighbours never respond well to pointed fingers even if they are in the wrong. Always use a friendly approach suggesting how it would be great if they could do something for you.
🛠 Never Jump The Gun: Don't take drastic measures from the start of what seems to be a big problem. Instead, start an open dialog by explaining the problems you are facing.
🆘 Toolkit For Line Crossers
🛠 Pics Or It Never Happened: When a neighbour has crossed over to 'nasty' it can be very helpful to take photos/videos of the issues you’re dealing with.
🛠 Report Illegal Activity: If your neighbour is selling drugs, disturbing the peace, committing acts of abuse or violence, or running a prostitution ring, you need to take legal action. If you can't stop them from continuing what they’re doing, you must report them to the local authorities after consulting with your like minded neighbours.
Thursday Map Quest
What's Cooking?
🍔 In 2021, investors all over the world went on a commercial real estate shopping spree. Reason? They thought the returns they would get from such investments would help them beat inflation. Turns out that was a bad idea.
🍟 Real estate brokerage Regrob plans to have 200 franchises in the next 2 years. The company's plan is to enter tier 1 and 2 cities through franchise models, to cater to the high demand for real estate in those places.
🍕 Amercian home-prices surged to a record high (18.8% increase in metropolitan areas) in 2021, as low mortgage-interest rates prompted buyers to compete fiercely for a limited number of homes for sale.
Why Indian Realty Still Lives In Wasseypur
What if you bought a car from a reputed brand and after using it for a while, the darn thing broke into two pieces one morning, just like that?
What do you think would happen? From the safety rating agency, the motor vehicles department, to the manufacturer, every entity involved in overlooking such a structural failure would be in the dock. Plus, social media would be on fire.
But, But, But...
What happens when houses crumble and kill: Nothing much
What happens when builders vanish or do not deliver projects: Nothing
What happens when financial commitments by builders are forgotten: Nothing
What happens when bank approved projects turn into half finished ghost towns: Nothing at all
Hulloooo... Who's In Charge?
Housing projects in India are approved by RERA, banks and financial institutions but why is that not enough to imbibe confidence among homebuyers? How can real estate developers with poor execution capabilities or fiscal imbalances hoodwink three levels of scrutiny?
In reality, these are questions that continue to haunt homebuyers, even though holier-than-thou claims of market reforms suggest otherwise.
In this must-read, thought provoking piece, Ravi Sinha of Track2Realty asks whether there truly is a custodian of Indian real estate.
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🌏 Thursday Map Quest: Country colours indicate the cost of living measured in 2020. Green is the lowest and red, the highest.
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On a spring day just like today, 66 million years ago, rivers that meandered through a flourishing landscape were populated by mighty dinosaurs and small mammals at North Dakota's southwestern corner. Death came from above that day.
Recent research says, that just like love comes out of nowhere in spring, death came from the sky and wiped out the dinos, et al.
So much so for springtime. 😅
Have a good day. 💚
☕ The Crew@Ginger Chai