Why the property prices in India are so high? How may hours a common man should work for week to buy a single bedroom flat? Why is the government not having a control on property prices? India doesn%u2019t deserve to have rich people. When we buy a fridge or a Plasma TV the company gives warranty and product discloser but if we buy a house we don%u2019t have any and on the top of that in many cases we don%u2019t even know who is builder.
AS i read this article i see there is a lack of regulatory body. Through internet sources we shld get it rolling. The idea of blog mentioned is a nice thought it helps many. Overall a good article. Thanks
RE:we should force for regulatory body.
by joydip bhattacharya on Nov 13, 2007 06:03 PM
Thaks Rediff for this very good article...
As I see as a buyer we are always no gain situation nad the builder is always no loss situation, as they can do whatever they want......
So there must be a regulatory body...The best thing what I can think of is soemthing like a Ration Shop..... where the builder can not sell a house directly , rather they have to register with that body or organization (run by govt) and the Govt will fix the Price of the flats depending on the location , builder reputation(like a branded product) and other ameneties proposed by the builder. And the buyer will have to only buy from that Organization and have to pay the price decided by the Organization(no Negotiation , Standard rates ), And the Organization have to take care of teh buyer to make sure the builder develop and deliver the house.
Here only concern is the sincerity of that Organization ( even there are some corrruption , still I will say the chances will be less for buyers to be chated )
I agree with all your points but do our courts are genuine enough to understand the issue.Nothing can be done till the time you are not giving bribe to the Lawyers or the judges.
The article is an eye opener for many of us first time buyers. I hail the contirbutors and request rediff to bring more articles covering different aspects inclusing second sales of apartment/ plot etc
RE:Request...
by emmarke on Nov 11, 2007 08:40 PM
Really a very good issue most of the first time buyers are worrying about.No limit for the greedyness of builders in making construction deviating from approved plans,poor quality of constructions,not confining to delivery schedules in most cases.Defintely one should appreciate the builders/construction firms make profits if they confine to norms of Local municipalities and agreement entered into with buyers and cofined to delivery schedules,which is we rarely find with builders.The builders should also realise that money made out of the way with not give them happiness in life in the longrun.Morethan that, municipal/corporation authorities should also be penalised for their failures in checking the irregular/deviations from approved lay-outs and for their failure in performing their duties colluding with unscrupulous builders.At the same time we should encourage sincere & honest builders who takes building with professional expertise as it is almost a national building activity. emmarke
i fully agree with you people supporting a independant regulatory body for controlling real estate business. This would not only regulate greedy builders but also ensure good houses at rasonable rates for everyone.
There should also be restriction on individual possessing property. :::::: Visit R e l i a n c e P o w e r . ~c~ o~ m~ For New Happenings in India's Power Sector ::::
The prices are creeping upwards like a rocket. There seems no respite to this. Lack of a regulatory body makes it almostimpossible for a middle class individual to go for a life time investment and buy a house.
In all messages posted everyone just refers to 'builder'. Nobody is taking names. I think everybody is having his or her own concerns. If the name of builder can be shared it would help other buyers to especially beware of the named ones.
