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Friday , 23 August 2019
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Reaction over Supreme Court judgement_Amrapali Case

Siva Krishnan, MD – Residential Services, Developer Solutions and Strategic Consulting, JLL India

We welcome the Supreme Court’s judgement. It reflects the pain of homebuyers, who are troubled due to reasons such as delayed projects, stalled construction etc. It brings some good news to all those affected and is going to boost buye r sentiment in the region. The judgement also proves the point that there is no place for those in this market, who have been conducting the business in an unprofessional and unethical manner. It is time now for the sector stakeholders to work toward finding solutions to the problems related to homebuyers.

As a result of such instances, there has been a shift in the buying preference of a majority of new, prospective buyers. A majority of the buyers are now mindful of the risks and prefer to invest primarily into ready-to-move-in properties. This said, the judgement also proves the point that the market is now evolving and is becoming more accountable and transparent. We are grateful to the legislative and the judiciary of this country that they have been able to achieve this with focused reforms and address the challenges.

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