Ever considered the problems of buyers?
Nagin Chand, a scientist with the government of India, is among the buyers who are paying EMIs from provident funds. Chand says the government should be empathetic to the farmers issue because the acquisition will create multiple problems in the villages.
“There are three categories of farmers in these villages. The first category are rich and well-off, the second are the middle and smaller ones and the third are the landless field workers who make both ends meet by working on others’ farms. The government should not only compensate the first two category but they should also have some rehabilitation programme for the third category of farmers, who will otherwise lose their jobs and indulge in anti-social activities,” says Chand.
Homebuyers who have invested in developers’ projects for short-term profits are also not happy with their investments. They allege that prices have been artificially appreciating but the ground reality is that there is complete price stagnation in the market.
Seema Sharma, a homebuyer, says she bought two residential units of 1BHK and 2BHK in a group housing project in 2012 on Yamuna Expressway at a cost of 18 lakh (for the smaller unit) and 27 lakh (for the bigger one) but the prices have not appreciated.
“The market will disappoint the shortterm investor but those who want to stay invested for more than seven to 10 years will definitely benefit from it. I am not discouraged as had planned for long-term investments. I am confident that the area will develop in the course of a few years,” she says.