December 26, 2011 by akhilendra
Are our real estate projects safe?
There are thousands of real estate projects going on across India. Many of them are high rise buildings with many floors. Recent news as per which Government has given permission to builders to build high skyscrapers in New Delhi has opened the flood gates for building high rise building in Delhi also. Cities like Bangalore and Mumbai are already having that. We can’t blame government for doing this because land is a big issue in India and this is the best available option to utilize the maximum out of available land for real estate.
But the question, are our real estate builders and companies are mature enough to do something like this? Most of the real estate projects in India are developed with least standards. There would be hardly any construction in the entire country in the last five years where builders have followed all norms. They are well known for their shoddy work and construction quality.
Real estate developers hardly bother about laws and the way they delay their projects is the biggest evidence of that. A average buyers like me have hardly any tool or resource to judge the strength of a building but by looking at the end products which average customer get at the end of construction, it is should be hard to judge that our real estate construction is really of poor quality.
High rise buildings are not alien to the world. Cities like Newyork, Dubai and Hongkong are well known for their skyscrapers but in India, things are still in a primitive stage. Our real estate companies are grossly mismanaged and most of the time, they are in cash crunch. Simply because they never learn from their past experience and their focus is more towards expanding and acquiring lands for news projects rather than completing existing one and with high standard never comes into the picture at all.
Government can do little about the quality of individual apartments and construction sites. Delhi NCR is seismic Zone 4 meaning very high risk of earthquake. In such a situation safety norms should be the most important aspect of real estate construction. Past experience shows that our authorities and governing bodies are still not ready to handle major earthquakes or fire accidents.
High rise buildings will throw far greater challenges for authorities to manage these things. Though major builders can be expected to do due diligence and proper homework as their brand image is very important for them and as they grow, they are also making some improvements. But as real estate industry is seeing more builders every day, it is very hard to expect new builders of being capable of building these high rise buildings with high standards. Discuss more at http://homebuyingforum.com/
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