Common Builder Problems Most Buyers Face

Real estate market underplays a lot of illegal affairs that have left most buyers in angst.

With more buyers filing legal cases in consumer's court, it has become evident that the problem is only ever-growing. This article will surmise some of the most common builder's folly.

Some realtors will be "good enough" to facilitate the owners with penalty charges, hardly exceeding interest rate of 2.3% per annum (Rs 5 or a maximum of Rs 10/per square feet). However in case a consumer slightly delays in making the final payment a "no mercy" interest rate of nothing less than 18% is immediately levied. Now this is HIGHLY UNFAIR!

Project delays: The most persisting problem that a buyer has to face. Property developers are always flattering to offer the best deals. However once the property is sold out, the builders suddenly realize that they have scarcity of funds, labour problems, and high input costs. This naturally becomes the most furnishing excuse not to complete a project in due time. However their tricks are never ending. Promotional delusions: if you are looking for an apartment then you have hardly missed upon the advertisements measuring massive acres of green. However often it has been seen the dubious realtors try and attract customers through "impressive hoardings" that quite remains a dream. also at times it has been observed that after a full reservation of space has been confirmed on the project, builders have sold out large proportions to a third party, especially to a commercial / retail company. now wouldn't this mean CHEATING?! Altercation of master plans: Also there have been several instances where the master blue print has been altered by the builders without informing the apartment owners. Later as a result flats appear compressed and small. The sad thing is that the owner may have paid for some extra square feet's. Measuring the units: Another fact to remember is that a builder will always charge you on the super area of the apartment as opposed to the carpet area. This means you are to pay for the lift space, the corridors etc. however you will not receive proper transfer of ownership rights on these areas. The builders never intend to handover these spaces. They keep these spaces as future reserves so that in case they want to expand the project and add a few more towers they can easily present these areas as a part of the actual flat-area-ratio (FAR). Later transfer charges: This is one way how a builder extracts good profit amounts from the consumers. Suppose you are relocating and you need to sell your flat to a third party, then as per the municipal corporation rules you need to pay your builder a transfer charge. Now there is no hard and fast rate. Therefore demands vary and you may even have to pay double figures in lakhs instead of a mere Rs10, 000 required for administrative processing. Also at times buyers cannot sell their flats because of the exorbitant rates that the builders charge. ทาวน์โฮมมือสอง ราคาถูก