builders need to be regulated. right. there has to be proper quality control. true. stern and transparant laws are needed. absolutely right. all builders are bad... evil...etc. wrong. It is not fair to make them out to be a evil lot. there are bad eggs everywhere, all businesses. it is fashinable to criticise builders as it is easy to crtisize politicians. but you need to ask yourself, who selects them and who elects them.
SHOULD THE INDIAN PUBLIC LYNCH THESE BUILDERS TO DEATH? IS THEIR JUSTICE? IS ANYONE INTERESTED IN SAVING THE FOREST LAND & CAPABLE OF LAND RESOURCE PLANNING? IS THERE ANYONE INTERESTED IN PROTECTING THE ENVIRONMENT? IS THERE ANYONE WHO CAN GUARANTEE QUALITY OF CONSTRUCTION? IS THERE ANY CONSUMER LAWS APPLICABLE TO SUCH SITUATIONS?WHAT ABOUT THE INTEREST COST OF THE FUNDS INVESTED BY THE BUYERS OF THE PROPERTY?
RE:ARE THE LAWMAKERS LISTENING
by Ary Doriz on Nov 18, 2007 12:53 PM
Help yourself. What have you done to address all these? We just hope that a miracle solution will fall on our hands one day and until then we weill blame politicians. Pathetic
I booked a flat with Hiranandani Constructions in Thane in 2006, the possession for which is now delayed by over 8months. While the construction has been completed, the building is now stuck in a legal case involving the Forest Land. I am on a rental property and in real trouble by this delay.
The builder has not givn me any clear answer on when this case is likely to get resolved.
Is there some recourse that I could take to get early possession for my flat or atleast the builder to bear the financial loss that I am going through.
RE:Delay in getting the possession of the flat
by anurag on Jan 08, 2008 10:14 PM
The problem continues as it is. Its for us to join hands on such issues. I am also affected party with Hiranandani Estate, Thane(W). All affected party to contact me at --- anu2raj@sify.com
Anyone cribbing about builders, I would say, should look at prevailing situation. It is the cost of the land that has driven the real estate wild. Not the fault of builders, but land barons.
Just go out in the market and try to buy developable land. Use some arithmetics to find your own cost. See if it is possible to do business.
For example, in Juhu, Mumbai land prices are around 2.75 lacs per square yard. One square yard is 9 feet which gives 18 Feet FSI with TDR. Saleable with loading comes to about 25 sq feet. That translates to about 11000 per square feet for saleable. Add about Rs. 1500 per sq ft for construction cost and Rs. 1100 for TDR cost (Rs. 2500 per sq ft - market TDR price, divide by saleable area). That gives cost price of Rs. 13,600.
RE:Real Estate
by Srinivas Chary on Nov 18, 2007 12:27 PM
But that Doesnt Mean what the Builders do is right...Its a bussiness for them...but for someone who buys its a lifetime earning spent....and if he doesnt get what he paid for its really terrible. I think builders need to be more transparent in the way they work.
The ground reality is That the builder has the last word. Very few buyers have the patience and resources to fight a protracted legal battle. Even at the end of the war the litigant only gets a mental satisfaction of winning. There is no relef worth the name. The point to consider is whether Rs 5000/- was the right amount for mental agony suffrere. The regulations must be suitabaly modified to pay exemplary damages. The stsate govt. should notify model agreement.
RE:Builder
by gopalakrishna sagar narayana on Jan 07, 2008 06:47 PM
Judges don't understand the plight of helpless buyers who are pitted very badly against the builder-mafia. So they award compensation of peanuts value to the poor buyer if the case is decided in buyer's favour. No one can look to any sort of help from Govt (say, like setting up of regulatory body or enacting new laws to rein in builders) as the ministers or their kin or their friends happen to be builders or ministers would have invested their ill-gotten money in this sector for getting higher returns. So why will they create unnecessary hurdles for their interests. The buyers will be perpetually at the receiving end from vicious group of builders-politicians-rowdy-state police.
Promises by the Builders are very mind boggling ones. A complex with swimming pool, Garden, back up Generators, Lifts, Temples, Gymnasiums, Club house. etc etc etc. The terms of payment is not based on completion of this facilities. it will be always as below 15% on plinth: 30%on slab 10% on walling 10% on doors, frames & windows 7% on plaster 7% on flooring & plumbing: 7% on sanitary fittings: 4% on possession: M.S.E.B. Stamp Duty & Registration:
Even after 1 year after possesions, there are many complexes which did not received the external facilities as promised by builder.
Please try to negotiate the 100% payment only afetr the completion of complete facilities promised.
