We need body like SEBI and RBI for regulating the real state. Stringent guidelines on quality, pricing and consumer protection should be provided. The body should be on all india basis and should bring the local autority like DDA under its ambit. We need professionalism, quality control and checks in real state.Real state in India is in highly dubious state and houses are made of substandard quality and are over-priced.We need to study the models in developed countries like USA, Singapore etc and incorporate in India.
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. _________WEBMIRCHI.COM
RE:Buying a house? Beware of builders' tricks
by Guru Sane on Oct 24, 2007 06:12 PM Permalink
Obviously in case of a construction of a single house, the land title issue is of biggest importance. After that is the contractors' credentials.
No doubt whatever points mentioned in this article are correct. People should be aware of these things. But Ms.Urmila Rao should have covered the various problems which the consumers present in front of the builders. I would expect one more article from her side citing the story from the other side. Although I can mention about the problems here, I would want her to do some homework and come up with another article.
RE:Very one sided article- Amarendra
by Guru Sane on Oct 24, 2007 06:15 PM Permalink
The problems faced by builders are more or less the same as faced by any other entrepreneurs... except of course they have to bribe corporations for sanction of plans and conversions, give out black money to land owners, hand out "protection money" to mafia... Handling these issues are an issue in itself.
RE:Very one sided article- Amarendra
by rebel on Oct 22, 2007 09:51 PM Permalink
The whole purpose of this article is to educate the public against pitfalls in the real estate sector. We do not wish to start a debate as to who is right and who is wrong. There is no point in highlighting what problems the builders face because they deal with this day in and day out ( I guess this is what you meant by the statement'various problems which the consumers presnt in front of the builders'). Anyways, maybe Urmila Rao is right in what she wrote. We are not interested in knowing the problems of the builders!!
To keep your self Interests safe guarded from all angles, choose from within the area- jurisdiction where you want YOUR choice of flat a readymade one, an estate agent of repute who can deliver you a copy of flats of your requirement containing every information about the society/admeasuring area both in sq. mtr. & sq. feet/ BMC assessed copy to see the actual area of the flat to check whether the area which the agent said to u is accurate/leak proof/flat free from any encumbrances etc etc. This way you will be free from any sort of duping by the builder.
