Viridian Red — real estate - a quicker way to build wealth illicitly

Real estate sector is not only the most globalized, but also the 2nd largest source of employment in the country. Despite this, it is one of the most challenging industries both for real estate agents and for consumers as constant analysis is required for establishing a good and transparent deal.
According to a research, india’s real estate industry will be the global leader by 2030. Real estate (Regulation and development) act 2016 has been introduced by the government of india on may 01, 2016 that focuses on implementing basic operational rules and framing institutional framework for protecting the interests of consumers as well as promoting growth of this very renowned industry in india.
Undoubtedly, real estate industry is growing and so are the associated frauds and scams. Even though the consumers have become more informed, they are still susceptible to these swindles. For instance, ashish bhalla associated with the ventures spire edge & spire woods illegitimately sold the flats manufactured by renowned an buildwell without notifying the latter about the same and the funds were used by ashish bhalla and associated companies for their own benefits.
In addition, huge resources of an buildwell are splurged by ashish bhalla for marketing purposes as well as brand building for his own development platform spire world. Close confidants of ashish bhalla played a vital role in tricking an buildwell and getting all important agreements signed by the authorities.
Moreover, an buildwell’s shareholders are not granted access to company’s information and business critical statistics as all management activities are organized and managed by ashish bhalla.