One of the sectors that have been badly hit due to economic slowdown is Real Estate. Innovation is the key to survival for most firms in these trying times… from ‘Nano houses’ to EMI starting after possession and from Mercedes free to House-on-house we have seen one trick after another. But all these gimmicks don’t work when “layoffs” and “closure” have become a part of every conversation… obviously those in “shaken up” industries like software, automobile and travel have postponed the decision of buying their dream home.
Promoters and Builders Association of Pune (PBAP) has come up with an innovative idea… a Pink-slip-proof house! So if you buy a house in Pune and also loose your job in course of time, the builder will pay 3 EMIs. Even after that you are not able to get a job then the bank will accept delayed payment for a limited period of time.
Puneri Innovation indeed!
Promoters and Builders Association of Pune (PBAP) has come up with an innovative idea… a Pink-slip-proof house! So if you buy a house in Pune and also loose your job in course of time, the builder will pay 3 EMIs. Even after that you are not able to get a job then the bank will accept delayed payment for a limited period of time.
Puneri Innovation indeed!
One more useless invention by PBAP. They failed to understand the basic economic theory. Very clearly, the market is down because of very high prices psqft, when it was still a time to sell their products. Their arrogant attitude to their customer is paying back to them.
ReplyDeleteI am sure they are going to get bankrupt one after another in next 6 months. This is not my wish but the prayers from each individual who dreamt to buy a house in Pune after 2006. I am sure god can not ignore these prayers.