Dear friends, Pl find attached a recent article on the above subject which may be of interest to you. Thanks
From India, Malappuram
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1446From India, Malappuram
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Thanks for sharing. There is a catch, though. A property buyer is not necessarily considered a consumer. A property buyer who has bought property for investment or for reselling it later, i.e., for monetary purposes and not for self-use, is not considered a consumer. This has specific judgments related to this: http://go4reviews.in/2015/05/when-not-to-go-for-consumer-case/
From India, undefined
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From India, undefined
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Maximum cases in consumer forums nowadays are against builders.
Most buyers rush into under-construction and prelaunch projects hoping to benefit from lower costs. When projects are under construction, the state of sanctions may be incomplete - some sanctions may be under process, etc. This leads to a situation where due to delays in sanctions, the final customer/buyer does not get possession on time. The loser is ultimately the buyer.
Buying a ready-to-move-in flat with completion certificate is the best option. The buyer sees what he buys and can judge all parameters while committing huge amounts. Agreements with builders are one-sided with most clauses protecting the builder. If the builder delays, he pays 2/3%, but if the buyer delays installments, he is charged 18% interest.
In case the buyer faces problems related to flats, he can approach an online forum known as Akosha. Buying a flat is one of the biggest exercises for any normal buyer. Buyers should be aware and beware of getting into any scheme where risks are for the buyer and money flows into the builder's hands.
From India, Pune
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Most buyers rush into under-construction and prelaunch projects hoping to benefit from lower costs. When projects are under construction, the state of sanctions may be incomplete - some sanctions may be under process, etc. This leads to a situation where due to delays in sanctions, the final customer/buyer does not get possession on time. The loser is ultimately the buyer.
Buying a ready-to-move-in flat with completion certificate is the best option. The buyer sees what he buys and can judge all parameters while committing huge amounts. Agreements with builders are one-sided with most clauses protecting the builder. If the builder delays, he pays 2/3%, but if the buyer delays installments, he is charged 18% interest.
In case the buyer faces problems related to flats, he can approach an online forum known as Akosha. Buying a flat is one of the biggest exercises for any normal buyer. Buyers should be aware and beware of getting into any scheme where risks are for the buyer and money flows into the builder's hands.
From India, Pune
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I have a flat in The Hermitage Sector 103 by Satya Developers in Gurgaon. I have paid up all the money and am awaiting taking over the flat for the last 2 months. The builder, Satya, is asking for an FDR of 67,000 in lien to Satya Builders for a period of 3 years with auto renewal to cater for some taxes that may come up in the near future due to VAT. I told them that I am willing to give an undertaking that I will pay up any dues that may come up later, but they insist that they will not hand over the flat until they get the FDR for 67,000. The address of the builder is Satya Developers Pvt Ltd, Plot No. 8, Sector 44, Gurgaon, Haryana.
Please advise.
Gp Capt JPS Talwar
9818358331
From India, Bulandshahr
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Please advise.
Gp Capt JPS Talwar
9818358331
From India, Bulandshahr
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