Wish Town becoming a metaphor of the falling economy of India

Wish Town had at one point of time become a destination for the middle class of India which is aspiring that had been seeking a slice of the good days which had at one point been promised by the Prime Minister Mr. Narendra Modi who had come into power a few years ago. That is now something that has been lost.

A property development which is located in the area of Noida close to the capital New Delhi. The area of Wish Town had been supposed to provide the home buyers golf courses, shopping malls as well as the medical clinics. The apartments which should have been delivered in the year 2012 had been billed highly in the media.

The area today has been dotted with the apartment blocks that are unfinished, the leftover part through the construction. The buildings which are dilapidated have stood vacant with the bushes overgrown instead of the lawns which are manicured. A majority of these streets are empty with the cars and people apart from some security guards.

The failure of Wish Town has been telling a story of the economy which is in a lot of distress, a pain of banking system has been in pain as well as consumers which are worried about the cut in jobs and the rise in the cost of spending. The slumping of India’s consumption has been severe at a level where global growth has been dented and prompted the economists which includes the Nobel Prize winner Mr Abhijit Banerjee to issue the warnings about a significant recession in India.

The market of the real estate has been illustrating the extent of the woes of the economy.

Leave a Reply

Your email address will not be published. Required fields are marked *