Few years ago, it was real estate where everybody wanted to invest in. Now it is risky venture because of rising rate of interest on housing loans and stricter land acquisition laws. Author Varun Soni came out with a book titled The Downturn, a fictional take on the sector.
On Thursday evening, the Ambassador of UAE, Mohamed Sultan Abdalla Al Owais, unveiled the book at Nom Nom at Hotel Ashok. The ambassador said, “It is a delight to read the book, the first such fiction to have been written in the backdrop of the Indian real estate sector.” Soni reciprocated the ambassador’s appreciation and said, “It was an honour to have my book unveiled by him. Being the fastest growing real estate market in the world, it was apt for The Downturn to be unveiled by the ambassador of such a great nation.”
The Downturn narrates the journey of a media professional, Promit Bora, who enters the real estate sector owing to the lure of gold. However, as luck would have it, as soon as he takes up the assignment, the world economy goes into a spin and he is caught in the downturn. The evening was attended by diplomats and city’s socialites.