Nationwide protest by CREDAI today: Will they be heard?

New Delhi: the suicide of a fellow developer from Mumbai has created quite a stir amongst the developer fraternity across nation. Finally they all have decided to stand against the corruption in the system and today i.e 13th October 2015, all the real estate companies who are the members of CREDAI (the largest body of realty developers in the country) will be shutting down their offices in order to protest against the prevalent corrupt practices in the system which has been the biggest blockage and has given them a bad name amongst masses. 

Suraj Parmar, promoter of COSMOS Group, a Thane based real estate company commited suicide few days back citing the reasons to be the problems in the system which has made working very difficult. The suicide caused a nationwide stir amongst the developers and they were forced to take such drastic measure as a nation wide protest to make their voice heard. 

Real estate sector has been reeling under high pressure with slower demand and the perennial problems like not being given the industry status, inflation, taxation, multiple clearances, frequent change in policies and the very frequent court notices which actually can make an organisation bleed. Even though the sector has been one of the biggest contributor to country's GDP & a large employment sector but a feeling of being neglected has been there amonsgt every developer. 

The question which arises is, will this drastic step taken by a mumbai based developer actually result in Government listening to their woes or will it still go unheard? Will the nationwide protest,which will eventually result in huge financial losses to the tune of thousands of crores, unite everyone for a common cause? Will the developers who have always been portrayed as a negative character, where even Bollywood movies have also played an important role, will see a change of perception and people will also recognise them as sufferer in the hands of the same system?

A lot of questions need to be answered. Hope they get answered today.