Nagpur: “Buy land, they’re not making it anymore” – Mark Twain, writer and humorist
An investment ensures one’s long-term financial security. The money generated from your investments often provides financial security and steady income. With the same motive, investing in the properties has become the key way to ensure one’s financial security – which is picked by many. However, imagine you’ve invested in a property, trusting the builder; only to know that the construction was unauthorized!
The latter scenario could become a horrifying nightmare, if you’re planning to invest your hard earned money in the properties around the Multi-modal International Cargo Hub and Airport at Nagpur (MIHAN), as citing release of list of builders accused of violating Directorate General of Civil Aviation (DGCA) norms might create panic among people, officials have refused to share details of ‘unauthorised’ high-rise buildings around Nagpur Airport. However, the move seems to show concern more for builders instead of new buyers, whose money will be stalled if things went terribly wrong.
Nagpur Today had flashed a report cautioning the prospective investors planning to invest their hard earned money in the properties around MIHAN — an ambitious airport project promising the biggest economical development currently underway in India in terms of investments – to think twice! The properties located around Nagpur’s Dr Babasaheb Ambedkar International Airport and MIHAN area are under the scanner of DGCA for various irregularities.
The officials whose duty is to safeguard the interest of common people are not disclosing the names of the builders accused of violating the norms on the pretext of avoiding panic among citizens. However, those who have already invested their hard earned money and are blocked due to sheer greed of the builders are grappling with the crises. The move of avoiding names of structures could invite more investors to fall prey in the dubious investments.
It is pertinent to mention that in the survey of MIHAN India Limited (MIL), it was found that around 30 high-rise buildings so far have violated the rules of DGCA. These buildings have now emerged as the biggest threat to the growth of the airport. The builders promising luxurious flats and lavishing properties around this area are often found violating the norms set by DGCA to make hefty money at the cost of customers. Any dealing in the dubious properties could take a heavy toll on your investments.
– Shubham Nagdeve