Since DMK is out of power, what happens to GSquare and Casagrand now?
Allegedly, both organizations had close ties with the DMK, and both kept announcing new projects one after another. Casagrand allegedly started bookings with only environmental clearance in their suncity project, without obtaining all required approvals. The company also faced complaints related to one of its Thazhambur projects, including allegations that parts of it were built on government land, among other issues.
G Square has also faced criticism for its agressive expansion with buying out lands in various cities, rapidly driving up land prices, and allegedly taking bookings before securing complete approvals.
Now that the DMK has been voted out of power, what will happen to thee firms. Despite this, Casagrand still appears to be launching two or three new projects almost every alternate month. Will they continue to maintain a strong presence in Chennai’s real estate market, or will they eventually be replaced by a new wave of investors and developers?
For example, Karnataka-based Prestige Group has been steadily expanding its presence in Chennai. Interestingly, the company also produced our CM’s Jana Nayagan.