Corruption charges does not deter realty players from doing their bit for the nation

What makes a country developed- System, Policies, Procedures, or is it the People? Yes, we might agree with all those. But when it comes to the global parameters, why do we forget that it is a nation’s GDP, for quantity and its Government, for quality that shapes up the development of a nation.

The gross domestic product comprises of four elements; consumption, investment, government spending and net exports/imports. When we speak about the investments category, we talk about all the savings and investments made in tangible assets in a country, in order words real estate.

Real estate is a sector where there is largest flow of money involved. India’s GDP stood at 4.7 percent at the end of the final quarter last year and real estate contributed to 6.3 percent in it. This figure is highest for any sector or industry affecting in the nation’s GDP. At the same time, the real estate sector went on to provide as much as 7.6 million jobs in the same period. Ashok Gupta, CMD, Ajnara India Ltd. says, “This is not the first time that real estate has contributed the most towards GDP and employment of the country. Every year for the past decade or so, real estate has contributed the most towards GDP and employment. If India’s GDP looks decent globally, its maximum credit goes to the real estate sector. Therefore, it is extremely important for the people to understand the value of this sector for the development of the nation.”

At present, Indian democracy is undergoing some renovation work due to the general elections. These are the few days which help in shaping up the future of our country. It is in our hands that we choose the right candidates throughout the country in order to make India a better place to lead a life in future. But still, around 30 percent of our total population is unfortunate to get the right knowledge, education and literacy in order to judge the right candidate to lead the country. Here again, most developers of real estate has taken up the responsibility to send the message of voting during the current elections to the entire country by putting up special hoardings at different places, messages on radios and even television commercials.

All this requires a large sum of money; which if someone was selfish would never spend. For instance, Ajnara India Ltd., one of the leading developers of India had put up several hoardings to promote the importance of a vote. Also, Prateek Group, one of the leading developers of NCR had joined hands with one of India’s leading media houses to promote their ongoing election campaign; all this done for the people of the country. At the same time, most developers are pursuing some corporate social responsibility in order to provide something or the other to the unfortunate ones of the society.

Prashant Tiwari, CMD, Prateek Group says, “Voting is our right. We should exercise it responsibly. These campaigns are a very good way of making the people aware about their rights and duties; and most importantly educating the voters about the candidates. By providing such information to the public, it is a great way of helping the people to know their candidate better. Our message to all the voters is to exercise your right carefully and responsibly; as every single vote counts.”

Now, recently we all came to know about the news and verdict of the Noida project of one of India’s leading developer who had literally shaped up Noida as a real estate destination. What happened has happened we cannot undo it now, but the ripple effects are the worst things ongoing in the sector. The existing investors believe that they might have made a wrong investment with a developer, and the once interested and potential buyers are now questioning the entire sector and calling it as corrupt.

Most important thing that we all must understand is that none of the people who deal in monetary matters are kids. We are all matured adults and know how make and take decisions after judging anyone and everyone. If a building is constructed, it means that all due approvals and permissions were taken from the right bodies at the right time. And now when it had been said illegal, it clearly means that someone who gives the approvals is to be blamed.

Why for the fault of one, we are putting the dirt on the entire sector, which has got companies that are helping the Indian GDP and aiding to make the people understand their duties and responsibilities in order to take our nation to a better tomorrow. Putting such allegations on the entire sector because of one is not justified. We as the citizens of the country must use our brains to judge what is right and what is wrong, and accordingly take decisions.

Sushant Muttreja, MD, Cosmic Group says, “First of all, it is very important to understand that one such news does not signify about the entire sector. If the entire structure was been built and stood, it meant that all due permissions and approvals were taken from the right authorities. Now if something wrong has come up, we must handle the situation with utmost care. All the affected parties must think and come to a conclusion where everyone gets mutually benefitted and no one gets left out.”

Arvind Singh, MD, K-Rasa Group says, “There have been some bad incidents occurring in the real estate sector in the past where the builder has been found and charged guilty. But, that is not always the case and due to the fault of a few builders we cannot accuse the entire sector of being corrupt. We should think and take decisions after proper research and verification of the case. It is very wrong on our part to accuse anyone without knowing the details.”

Hrishi Kumar

Hrishi is a young management graduate with experience in the field of branding and marketing.Currently, he is the manager at Integrated Centre for Consultancy Pvt. Ltd (ICCPL)

The views expressed in this article are the author´s own.