Opinion Here is how developers are misusing PM Modi’s ‘Housing for All’ slogan
Prime Minister Narendra Modi’s Housing for All plan was one of the crucial parts of his achhe din promise. As it turns out, there are high chances that promise may be misused by unscrupulous elements to lure people into dubious deals.
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Prime Minister Narendra Modi’s Housing for All plan was one of the crucial parts of his achhe din promise. As it turns out, there are high chances that this promise may be misused by unscrupulous elements to lure people into dubious deals.
People are receiving SMSs like “Pradhan Mantri ka Sapna, Sabka Ghar ho Apna” followed by offers to buy flats or other real estate–usually at surprisingly low prices–with just a phone number and no other details. Gullible customers can fall for these tempting offers without realising that these are not related to government schemes and it may not be safe to invest in it.
To understand the issue, it is important to know that the real estate sector is undergoing one of the most testing periods. Builders are defaulting on deliveries, projects stand delayed, some even 7-8 years. There is a rise of inventories and shortage of land to construct houses. Prices are still sky high and demonetisation has added to the woes of realtors. In such a time, frauds posing as builders/agents/middlemen/government officials try to sell innocent citizens their dream home at cheap prices.
Some of the biggest realtors have gone bankrupt in recent months with no respite for homebuyers. Companies like Unitech and Parsvanath have regularly submitted in court that they do not have money for refunds ordered due to non-delivery of booked homes. The trouble is increased with ever changing regulations, lack of real estate industry regulator and its delay–even after passage of the Real Estate Regulation Act.
Under such an atmosphere, came the prime minister with his Housing for All by 2022 scheme or the Pradhan Mantri Awas Yojana. The name itself is being twisted to fool people into believing that the SMS relates to projects involving the government or some scheme of the PM.
Under the Housing for All by 2022 scheme by the Union Housing and Urban Poverty Alleviation Ministry, the focus is on providing houses to all, particularly the economically weaker sections. For urban areas alone, the government has started allocating funds for initiating work on 2 crore houses. The scheme is essentially part centre funded excluding the credit linked subsidy component. The rules even mandate the house must be registered on the name of the female head of the households or in the joint name of the male head of the household and his wife.
So the appeal is evident. People need to exercise caution and even if the biggest real estate developer, builder, trusted agent or unknowing friend, relative, acquaintance or colleague suggests such projects or deals to someone, the prudent way to go is do all the checks before investing your money. The most important thing to understand is that the government doesn’t sell deals on SMS/Whatsapp/Facebook/Twitter/Email or any other unofficial channel.
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