Viridian Red — delayed building projects is a major concern among buyers

Buying a dream home is the largest decision being made by a person and there are a number of concerns and fears associated with it. Loss in property value, affordability of mortgage payments, maintenance cost, tricky mortgage and buyer’s remorse are among the most popular concerns related to buying a new property. However, a number of methods can be initiated to overcome this fear and make a sound purchase decision.
Prospective buyers encounters elongated delays in building and possession of flats in the recent years.in a similar instance, an buildwell private limited, a real estate company operating in gurgaon and manesar received directions from hon’ble high court regarding renewal process of license of the two different building and developing projects - spire woods in gurgaon and spire edge in manesar.
In this reference, a dtcp official quoted as saying, “the revival scheme is a positive development and it shows that engaging with buyers and builders will bring about solutions”.
A number of controversies has been taken place in the recent years about an buildwell and ashish bhalla, alleged fraudster who has unlawfully taken over major projects of the respective company. Ashish bhalla associated with sphere invest has pulled off one of the biggest scams in recent years. Sphereinvest viridian india property fund ltd, a foreign investment company, generally called millinneumspire joined hands with an buildwell and invested 400 cr into spire edge on the go ahead of ashish bhalla. What’s more unsettling is the fact that ashish bhalla of an buildwell continues to instigate mistrust among shareholders in an attempt to stir up a fight between them with vested interests.

All the leasing resources, inquiries and business leads (Along with the leasing team) associated with spire-edge & spire wood projects have reportedly been shifted to his own projects run by his company viridian red creating more distrust in the economy.
In 2009-10, ashish bhalla informed that other projects including “spire south”, ”spiretech”, ”spire condominiums” etc. Were also being promoted by svipfl (Sphereinvest viridian india property fund limited) and the same would be run by the development platform, ”spire world” which is an initiative of and is owned by millennium spire pvt. Ltd.