Best firms compromised on CWG projects: Delhi CM

CM Dikshit didn`t elaborate on CWG issue but advocated real estate firms to maintain high standards.

Updated: Dec 17, 2010, 00:23 AM IST

New Delhi: Delhi Chief Minister Sheila
Dikshit on Thursday said that some of the "best" firms involved in
Commonwealth Games projects had cut corners with quality
despite having taken "so much money".

"I can tell you that I have been through the
Commonwealth Games recently and I find the best companies
cutting corners with quality," Dikshit said during a panel
discussion on urban development.

"You feel scared that they have taken so much money,
still they are cutting corners," she said.

The Games had mired in a controversy over building
standards of various infrastructure projects including the
main Games Village and matters just compounded when a
foot-over-bridge collapsed near the main JLN stadium, just
days before the event.

Dikshit was speaking on `real estate affairs, urban
reforms and the future of some of the fastest growing state`s
on India`s real estate map` organised by Confederation of Real
Estate Developers of India (CREDAI).

She did not elaborate on the CWG issue but advocated
for real estate firms to maintain high standards in building
construction.

Regarding urban housing, especially projects for the
economically weaker group, Dikshit rued that private banks
like HDFC were slow in disbursing loans for such schemes.

Renu Karnad, Executive Director of HDFC, admitted that
loan disbursement for people under EWG category and projects
under it was slow but added that there were many reasons
behind this.

Karnad said the rate of interest being charged by
private banks was close to 11 per cent, which was high by any
standards for people of this segment.

"The government should chip in with some kind of
subsidy for such projects and there should not be a problems
with the loans then", she said.

Goa Chief Minister Digamber Kamat said that his state
had become very cautious when it came to land deals and real
estate projects and even took suggestions of villagers before
any big scheme is launched.

He said the state`s objective was not to lose its
cultural identity in the process of urbanisation.

PTI