Wednesday, October 19, 2005
Mill land, mall land, brawl land
And finally a victory for a crusader. I'm referring to this week's High Court decision on the mill land case. Sure, the Supreme Court could easily reverse this ruling, but what the hell - its a victory and a nice kick in the right places for the builder-politician nexus.
But there were some who didn't take the news too well. Stock prices of real estate developers crashed. The Economic Times did what it does best and gave the whole issue a nice negative spin (for eg. disaster for ICICI Bank which had lent money to developers. Er... the same article also carried a quote from a senior official saying that the exposure was not large). And they followed it up today with an editorial that is best appreciated only by the editor. He suggests that courts stick to their turf (doesn't that include passing verdicts ?) and not interfere in legislative and Government matters (and what if both fail as has been amply demonstrated in Bombay ?).
Another set of people who were reasonably upset were the well-heeled, well-educated and rich young execs who booked lavish apartments in the high-rises which were to be built here. Didn't know that there was always this risk when they had entered into this purchase ? Or did their greed for grabbing cheap land in Bombay come in the way ?
Where have all the Bombay lovers gone ? Why is the city so systematically going to the dogs and various other animals ? Indifference and apathy abounds. The same people who bravely helped out while a 15km tall cloud showered 994mm of water on suburbs, are probably the same who wouldn't care a damn if their daily lives are affected by bad roads, garbage, corruption, etc. The residents excel in short-sightedness and lack of awareness or concern on civic matters.
Is this city dead ?