FROM WHATEVER I CAN SEE THERE IS A FINANCIAL COMMUNITY OUT THERE WHO ARE RECKLESSLY LENDING MONEY TO ALL KIND OF PROJECTS .THEY WORK IN TANDEM AND THEY TRY AND GET FINANCIAL CLOSURE ONE WAY OR THE OTHER FOR THE PERCENTAGE OF THE COMMISSION THAT IS SHARED. THE PEOPLE WILLING TO LEND MONEY HAVE NO FEEL FOR THE PRODUCT OR THE PROJECT OR VERY LITTLE UNDERSTANDING OF THE GROUND REALITIES. SIMILARLY WITH THE LAND BANKS SEZ OR NOT. APPARENTLY THERE IS VERY LITTLE HONESTY AND TRANSPERANCY IN THE NEWS DUE TO THE FEAR OF BEING CUT OFF FROM ADVERTISING REVENUES. THE LAND BANK AND VALUATION AND IPO GAME , ALSO WITH THE WAY THE LAND IS AGGREGATED IN MoUs ETC IT MEANS THAT IF THE JDA FAILS THEN THE LAND OWNER USUALLY CANNOT RETURN THE REFUNDABLE DEPOSIT AND THE PROJECT IS STALLED. GIVEN THE GROUND REALITIES AND THE FACT THAT SO MANY NEW ROADS, PORTS ETC ARE COMING UP , I THINK ITS A MATTER OF TIME BEFORE THERE IS A CRISIS. MOST DEVELOPERS , INCLUDING BIG NAMES ARE PUTTING PART OF THEIR LAND BANK INTO THE MARKET FOR DEVELOPMENT AS THEY DONT HAVE THE RESOURCES TO FUND.
I HAD MAILED YOU A LOT TIME AGO ,ABOUT SOMETHING FOR WHICH YOU CAME BACK WITH THE REPLY THAT AJAY KAYAN HAD GOT RAIDED.
I ADMIRED YOUR WORK AND YOUR INSIGHT.
WITH BEST REGARDS.
SOMAN
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