My brother booked a flat with Sobha developers in their Sobha dreams project in early 2004. After keeping everyone waiting for more than two years, Sobha scrapped the project few months back. Property prices have more than doubled since then. One wouldn't expect big builders like Sobha to cheat there customers. Unfortunately, that is the way it is working with many of the mig builders. _________indiarealmarket.com
for every such builder there are 100 such customers who have no work but to nitpick and create unnecessary problems for no reason. there should be some regulation for customers to not act like babies as well.
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These are problems relating to builder ones, which are still better. If you go open market, things are worse, as you have to make 60-90% as cash payment which will not be reflected on papers. The papers may be duplicated and sold to many prople, plenty of cases giong on. PROBLEMS RELATING TO PoA, deed etc. I think builder flats are still the best. Alas we do not have them in Delhi and are on the mercy of totally unregulated, irresponsible, corrupt and arrogant property dealers who are hand in hand with the mafia, politicians and financers who bloat the market artificially.
even if you are aware the tricks what can you do? builder will simply not sell the flat to you if you start asking too many questions or asking to change the contract. There is less supply so you have no choice in this unregulated unchecked market.
Urmila Rao, take a bow. What an article! Superbly researched and lucidly explained. Excellent narrative style and you did not have any apprehensions about using big developers' names as well. You also gave out where buyers could go to in case of specific problems. Brilliant job!
