: The aftershocks of demonetisation, non-resident Indians (NRIs) continuing their association with the Capital complain, are as severe for them as for their relatives back home.
Though they may not be queuing up outside banks to exchange or withdraw money, those in the process of building, or maintaining, property in NCR find themselves in the same boat due to the sudden crunch in liquidity which came in effect with Prime Minister Narendra Modi’s announcement on November 8.
‘Ripple effect’
From missing construction instalments and maintenance payments to local builders to being refused delivery of merchandise including wedding invitation cards and wardrobe items from businesses based here, demonetisation in the Capital, they claimed, is having a negative ripple effect on the housing plans of many Indians based in Dubai and marriages to be solemnised in the United Kingdom.
“I paid a builder Rs. 2 lakh in cash for modifications to a family property at Noida. Now, the builder is refusing to hand over the possession of the property to a local relative of mine till I wire him the same amount,” complained Nirmal Khanna, 55, an NRI based in Sharjah.
In a mess
Mr. Khanna said he was now running from pillar to post to get his hands on enough cash, including taxes, to pay the builder in question, who had assured him that he would give him the entire cash amount along with the possession of the property but was threatening to involve him in litigation if the amount wasn't electronically disbursed to him within a certain deadline.
Anoop Wahi, 58, a UK-based banker, complained his flat in Gurgaon had missed its monthly maintenance because he had “made the mistake” of trusting his neighbour with an advance cash payment meant for the purpose during his visit to the country last week.
Meanwhile, Kumudhini Anand, 56, from London complained that a Karol Bagh-based wardrobe wholesaler was refusing to despatch an expensive shipment of clothes which she had paid for in cash during her recent trip to the Capital.
