Lavasa turns from paradise to hell
Bloomberg has written on how Lavasa has gone bust. Sad to see so many people loose life savings. Something must be done so the promoters are held responsible to compensate people who have invested life savings in Lavasa hoping for retirement or vacation home. Important that CM deals with it sternly.
This onetime hilltop paradise is becoming for some a hell. The days of zero crime are over. Garbage collection is sporadic, so litter soils the man-made lake. Storefronts are vacant. Signs of neglect are everywhere: maintenance is late or nonexistent. And that's for the construction already done. For the unfinished building works-i.e. most of it-there is little happening.
Today Lavasa is an incomplete shell housing some 10,000 people, a symbol of the excesses gripping the world's second most-populous nation. Lavasa Corporation Ltd. faces what may be its final reckoning, as India's central bank forces lenders to restructure debts quickly or take defaulters to bankruptcy court.
Arguably even worse off than current residents are the thousands of people who have put down their life savings or borrowed money to buy property here, only to fear it may never get built. more
This onetime hilltop paradise is becoming for some a hell. The days of zero crime are over. Garbage collection is sporadic, so litter soils the man-made lake. Storefronts are vacant. Signs of neglect are everywhere: maintenance is late or nonexistent. And that's for the construction already done. For the unfinished building works-i.e. most of it-there is little happening.
Today Lavasa is an incomplete shell housing some 10,000 people, a symbol of the excesses gripping the world's second most-populous nation. Lavasa Corporation Ltd. faces what may be its final reckoning, as India's central bank forces lenders to restructure debts quickly or take defaulters to bankruptcy court.
Arguably even worse off than current residents are the thousands of people who have put down their life savings or borrowed money to buy property here, only to fear it may never get built. more
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Affected residents should move a case at Bombay high court. Corrupt politicians can be handled by this process. more
Jun 20
Before booking hilltop or lavish residence in greed, they should have known who is the owner of the land and its authenticity. Those who had paid from their retirement money, that means they are experienced people and residing in Mumbai/Maharashtra. They shouldn't have underestimated the owner who had always cheated farmers for the sake of his family. I also lost Rs. 1 Lakh in 1991 just after retirement from Defence after serving 16 years, as I was not aware about civil atmosphere, I got cheated. more
Jun 19
THIS LEADER & HIS FAMILY MEMBERS / FRIENDS LOOTED AGAIN & AGAIN IN THE STATE OF MAHARASTRA . LAVASA IS ONE OF THESE LAND GRABS . IN THE NAME OF CHARITABLE TRUST FAMILY HAS TAKEN PRIME LANDS IN PUNE & HAVE CONSTRUCTED OWN LAVISH BUNGALOWS . WELL FOR LAVASA , PERHAPS P M R D A MAY HELP more
Jun 19
You should have thought for a while before investing who was there Playing the Pivotal role in LAWASA. And such People are dreaming for the Prime minister of the country. Just think what would be the fate of the country if such a people come as the Prime minister. more
Jun 19
The well known LEADER of POOR, Farmers , MARATHAs have caused this blunder. He took lands of POOR-FARMERS and built this empire to earn money for his friends. He is not the sufferer but who believe him are suffering. He is still vagabond. Learn faster is in our hands. Never invest on belief of THE GREAT ones. more
Jun 19
