Dreams come crashing down to homebuyers
It is an overstatement to say that for any individual, owning a home, irrespective of its size, is an ambition of a lifetime. Indeed, a roof over one’s head is a sign of stability. The process of getting there is a long on from identifying a piece of property to arranging finances and finally moving in as a rightful, joyous owner.
However what happens when after all this due diligence, suddenly the dreams come crashing down, as it happened to homebuyers in Chennai? On a rainy evening of June 28, an 11-storeyed residential apartment tower that was nearing completion crashed down trapping several labourers waiting to collect their weekly wages. When the debris was finally cleared, casualties stood at 61 dead workers. The authorities sealed an adjacent tower, forming part of the same project, Trust Heights at Moulivakkam, near Porur, a fast-growing southwestern suburb of the city.
The developers, Prime Sristi, a Madurai-based firm that had launched its first project in Chennai, blamed the crash on the weather. But neither the authorities nor the industry were impressed. Eventually the builders were taken into custody, the government announced compensation for workers who were killed and set up a one-man judicial commission to establish exactly what happened.
Source: Financial Chronicle
