I have purcahsed a flat at singhsandra Bangalore and possession supposed to get in dec-2006 and still awaiting for the possession. its difficult to get the possession by dec-2007 also. I contacted builder and builder is giving a lot reason like cement supply is not there in the market, labour issue.... and what not... ultimately I am paying big EMI on the purchased flat...... Is there any one who can help us on this matter ...
Most of the builders are not payig the property tax even after he sold all the flats in this buildig so that the flat owners are not able to pay their own tax on his property and also not able to apply for the municipal water connection. how it is possible for flats owners to get the builder pay his property tax ?? how this matter handle with which authority/where to approach ?
It is high time that we get a regulatory authority like the SEBI. We need to regulate the real estate business or else home buyers would just keep bleeding money and duped!!
I have purchase a new flat from builder two year back. So I like to share few facts of how builder cheat people. 1) Builder always prepare registration document from thier own lawyer. So they can keep huge loop holes. 2)Builder never gives possession on deadline. So they can keep pending issue like lawn. 3)Builder never pay for registration of society. 4)Builder mostly rent terrace for Mobile company for setup mobile tower. 5)As per rule Builder should provide two year service after possession. But it never happen in reality 6) At the time of possession builder always charge for extra huge amount for any your extra minor work. 7)They mostly charge for parking & not provide enough parking place for each society member.
Bottom line keep your budget more stretched & Never believe on Builder word. Make everything in written contract.
RE:Few facts
by rishi srivastava on Oct 30, 2007 02:22 PM
Hi Thanks for the infomation, its really important to take care. I have a doubt, With reference to your point no 5, which rule says that builder has to serve for next 2 years after possesation ?? thanks
