Wednesday, August 17, 2011

Buy a ready possession flat until there is no real estate regulator!

Don't become a victim of unscrupulous builders:

Launching Today!
Be a victim today!

Indian citizens are fighting for Jan Lokpal to eradicate corruption. And for years, Indian property buyers are demanding a real estate regulator to prevent unfair trade practices. But nothing is happening on these fronts. Because, 'a real estate regulator' is as bad as 'Jan Lokpal' for the politicians!

However, you can refuse to become a victim of a unscrupulous builder. By just not booking a flat in a pre-launch or a launch offer. Safest way to invest in a real estate is to buy a ready possession flat.

If you look at the observations of The Competition Commission of India (CCI), you will realize that most of the pre-launch and launch offers are nothing but a drive to take a property buyer on a long ride. See what CCI says:

1) Realtors issue advertisements for launching projects without the land in question being actually purchased or registered and without taking prior approval of competent authorities.

2) They (Builders) also do not specify the total area of the plot / flat / house indicating clearly the carpet area and utility area, nor the date of delivery and consequential remedies available to the consumer in case of delay.

3) The amount collected from the allottees against a particular project is not deposited in a designated escrow account and utilised only for the construction of the concerned building.

4) The information relating to the progress of works and status of account of each allottee is not made available to buyers in a transparent manner.

5) Realtors build in hidden costs, other than the initial set price and do not make relevant information public.

6) There are often no valid reasons for the inordinate delay in execution of the projects.

Point is, a builder can play these dirty tricks on you because you book a flat at a pre-launch, launch stage. So, stop booking and start buying a ready possession property.

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Flat 40 % Off!

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