Real Estate: Lanco and Aliens Say ‘No-No’

There was a time when the real estate market was going up like crazy and the prices were skyrocketing with astronomical rates. As fate would have it, the greed of the builders and the real estate folk got a severe hit and the prices have crashed to the ground.
 
This has led those who have bought the plots and flats at a very exorbitant rate to renegotiate their terms or even cancel the deals. In this process, the builders have been coming up with alternative measures to ensure that they don’t lose their customers. A Rs 50 lakh worth flat is coming at Rs 35 lakh now in many places of Hyderabad and Mumbai.
 
However, there is news that the big groups Lanco and Aliens have put their foot down on this one and have made it clear that by no means will the deals be renegotiated. Reports say that they are not willing to compromise on their brand image and quality so those who have entered into an agreement have no choice but to abide by it.