Parmar’s suicide, protest reaches Bangaluru

Suraj-Parmar

CREDAI Bangaluru  and its affiliates, in a move to make an urgent appeal to the administration, had shut down all operations across all member companies on October 13 as a mark of respect and solidarity to Late Mr. Suraj Parmar of the Cosmos Group, who tragically ended his life recently.

Suraj Parmar was a well-known name in the field of real estate across Thane – Mumbai region of Maharashtra. His company maintained an extraordinary record in terms of the quality of work, timely deliveries of homes for over 15 years. His demise is an enormous loss for the industry.

Parmar’s suicide note highlighted ways in which the government has been apathetic to the needs of the industry like endemic delays in granting approvals, rejection of plans with retrospective effect, political interference, endless delays in implementation of governmental policies, unusual regulatory changes during an ongoing project, retrospective application of new regulations and so on.

Commenting on the subject, Nagaraj Reddy, President CREDAI-Karnataka said, “It is tragic that a member of our fraternity had to take such a drastic step due to difficulties posed by governmental apathy towards real estate. The objective of this protest is to draw attention of the government to the obstacles that exist and create an enabling ecosystem that fosters ease of doing business in the sector.”