In Canada the rule is to pay 5% amount to the builder at the time of registration and rest of the money will be paid to the builder at the time of possession. Builder has to construct the house with his own funds and he can only demand the full payment from the customer at the time of possession. When builder invests his own funds building the house obviously he will try to get his money out of it as soon as possible and he will not delay the construction as well. Also, customer doesn’t have to pay emi to the bank until they gets possession of the house. We need same rules in India to protect customers from builders. Govt should implement similar laws in India.
The whole nexus is run by builders and politicians. So how can we even expect this from RERA. Even after giving so much taxes we are not getting basic amenities.
It's because many people are not first time buyers but 2nd or 3rd time. Their intention is speculative and they are the ones will end up paying. The same people got beginner's luck in their 1st purchase and think that they will gain again but looks like they are in for a surprise this time.
It is a complete Mafia Game and you can not expect an honest deal or an honest contract from the dishonest people..entire industry is gheraoed by the vested interested people who are making unscruplous money at the cost of innocent buyers..it is a criminal act but who bothers..sad approach and we r in the trap
Builders open parking ke nam pe bhi paise kama rahe hai, agreement me mention hi nahi karte parking aur orally bolte hai reserved open parking will be given.
RERA Act has faced significant criticism for failing to protect homebuyers. Reports indicate that less than 10% of ongoing projects have been completed since the law's enactment eight years ago, leaving many buyers in limbo. Allegations suggest a nexus among builders, RERA officials, politicians, and bureaucrats, contributing to inefficiencies and corruption within the system. Projects often evade RERA scrutiny due to loopholes and regulatory shortcomings, exacerbating the plight of homebuyers.
asafal kaise hua ? builders and govt ka fayda hua na... Middle class hota hi bewkuf hai... builder ke bharose underconstruction flat lete hai.. sapno ka ghar bana khauf...
केंद्र सरकार व्दारा एक विषेश मंडल स्थापित किया जाना चाहिए उसमे विषेशज्ञ लोगोने प्रमाणित कानुन बनाकर सरकार को ग्राहक हितोपयोगी निर्णय लेना चाहिए. जय हिंद
Best option left for middle clasa is Na plot because u get all documents i know rates are higher but this is safe option left.. Baki me tho documents ka jhol hai.. Agar jhol karna shik gaye tho sab kharid sakte hai
Let me suggest a solution: Buyer will pay registration fee and rest of money will be paid at the time of possession. Builder need to secure money from bank by giving his own guarantee. If flat / apartment is not delivered to buyer... Buyer is not liable to pay a single penny. It's like insurance policy issued by bank after evaluating builder. Bank can charge extra fee from buyer for this guarantee. This is how in developed countries happen.
