A day after MCHI-CREDAI (Thane) president ended his life, builder lobby claims more will follow suit if the existing policy paralysis continues
“Local authorities pay no heed to us or our files. With the formation of a new government, corruption was supposed to end. Instead, it has worsened. So where’s the change? Like farmers, suicide is the only option left before us,” said a local builder from Thane.
Builders claim projects are stuck in limbo due to the existing policy paralysis and red tape. File pic for representation
A day after Cosmos Group head and MCHI-CREDAI (Thane) president Suraj Parmar committed suicide, builders across Mumbai and its outskirts blamed policy paralysis as the primary reason for Parmar taking the drastic step.
Several builders claimed major policy changes were expected with the formation of a new government. But nothing has changed. They alleged that even the draft housing policy, proposing major reforms, has gone into cold storage.
Arvind Goel, MCHI-CREDAI president for the Navi Mumbai wing, said, “The situation is bad. Projects are stuck in limbo. While we were expecting better policies and governance from the new government, the ground reality hasn’t changed a bit. While finance from banks has dried up, private borrowing is exorbitant. Our stakes in land have gone high due to escalating prices. To make matters worse, submitted files aren’t being cleared on time. This has made situation precarious for the builders, and could soon force others to take the drastic step.”