Jaypee Group's founder, Jaiprakash Gaur, transformed the construction industry but faced setbacks in real estate leading to over 20,000 dissatisfied home buyers struggling for their completed homes.
Gammon India, grappling with financial losses and a substantial debt of Rs. 3200 Crore, is monetizing real estate assets due to high financing costs. The company looks to reduce debt.
Many potential buyers are hesitant to invest in under-construction homes due to concerns about builders' reliability, despite lower prices and customization options.