Take resale flat only. Take Help of Estate Agent. See maximum flats (50-100 flats) Negotiate with resale Tokan amount minimum होना चाहिये. Wait & Watch policy must be followed.
Perfect advice, Krish. We spoke the other day. Instead of rushing to book flat with builder I saved all my house money over the years living in rented accommodation and then bought an old flat much better than new flats and in a great locality for that. All I had to do was renovation to my taste. Unfortunately it's very difficult to find an honest builder. One builder says in fine print, parking will be provided not 'farther than 750 m'! That is ¾ km!! Further, remember that when you buy house with loan you buy two things: house and money to buy that house. Private banks are equally dangerous. They collect money at drop of a hat. Their treatment before and after you take loan is in absolute contrast. So either avoid loan or keep it bare minimum.
True fact I also suffered lost 2 lakh to cheater Lodha Builders for Palava City Lodha Lakeshore Green project and they keep changing name of project to fool public
They are super cheaters, my sister booked a flat there and they started calling for payments during lockdown. My sister contacted bank which informed that since construction is not going on, bank cannot pay anything to builder as per loan policies. But Lodha people kept calling for payments also added late charges and kept harassing. Then my Sister got a written letter from Bank to present to Lodha that Bank is not entitled to pay anything to builder if Construction is not moving as per terms. Then they stopped.
But LODHA is saying this guy took designer flat. And designer flats are like this only. If LODHA is so worse then how their all projects are selling out?!!
@@anujkbudhkar this is the best u can do.People buy home to get peace and happiness which u surely wont get with builders flat. Go for flat even if its at some distance. Flats can be produced but land cannot.
That is always best. But in India that is one complicated thing to build house of our own. And system doesn't want to change the process and hassle to build houses of own because the nexus between government and crony builders who pay them would break.
This is one of the open minded people whom i have always seen talking fearlessly against the dark society and anti socials. A lot if respect for you mr.rao.
My first flat I bought under construction from HdIl. It was the biggest mistake. Luckily we made money when we sold. We invested in a completed at from Gundecha. The experience was much better. The flat was complete and we got possession in 15 days. In india. Always buy completed flat.
This is a gem of advice. Every bit is so true and can relate to my own experience of dealing with promoters aka mafias. In the future will only buy ready property from a common man.
Indians should now demand following things to bring fairness in housing industry- 1) Unique code to be allocated to each housing/commercial unit. All information regarding valuation/hypothecation/legal issues/govt regulations/details of all owners as regarding such individual property should be available online when owner wishes to sell it. (May be kept secret otherwise) Correct valuation of property based on architectural and town planning aspects through reliable Government/non government agencies. Maximum retail price of each house unit in the village/city should be available online. Government should give certificate that a property is marketable or not. No transaction should be allowed for properties which are not marketable. 2) Model agreement between buyer and seller so that deceptive articles like no land transfer to society, advertising rights to builder etc are not included and there should be clear itemwise guarantee/warranty clause. 3) Only white payment against different heads. No hidden charges in the name of development charge etc. 4) If housing agent is involved his responsibility in ascertaining interest of both buyer and seller should be clearly defined. He should be a party in the agreement. (Presently whole pack of wolves of builder/agent/government agencies/local bodies all want to increase property prices exorbitantly and bite off biggest possible chunk of flesh of buyer just because he's in NEED) 5) Self development/self construction of house though registered agencies of architect/structural engineers/building contractors should be encouraged. 6) Compulsory registration and minimum wages to workers in housing industry. (If worker is not citizen of India, his exploitation should not take place at the same time he should not get undue opportunity to take citizenship through foul means. ) In short make house buying as simple as buying any household item.
Its always a best option to buy flats from local builders who have constructed flats on their own land not exceeding 10 dwelling houses. I'm living in one such apartment with worry free life with portion of undivided land too.
aapki batayi saari baate aesi hai ..jo point to point relate hoti jab koi builder se flat lene jaata hai...spedcial thanks ki mein bach gaya aapki video dekh ker.
Very good advice, also always go for Ready-to-move flats if buying from builder and never under construction.. this way we can control builder's fraud.
Very well explained . Say No to under construction properties people and don’t risk your hard earned money. Good job Krishnaraj sir... with this video. Hope people open their eyes and thier minds and seriously think and avoid this trap
Yes, I booked 3-BHQ Apartment with Parsvnath City in 2009. Parsvnath Developers Limited (PDL) did not return my money, I formed an association, filed a petition in NCDRC and won the case. My and other friend got their money back with 10.2% interest.
You are so right sir. A common man should go for resale flat only and prefer going to a registered society. Registering a society is also a pain. Also the rule of forfeiting token amount is harsh on the common man.
According to me buying a second hand flat is far better than first hand or new flat. This is what I learnt from your all videos. This is the central idea of all your videos.
Sir can u plz organise a seminar on this type of question, problems at one place. This is just a suggestion. You are doing a great job. My parents are happy when I saw your videos
Kris sir there is a builder name Sumer whose sales is calling me since 3-4 months. His project is Sumer life in chandivali. It's a prelaunch project and he quoted 1.27 cr in first call for 2bhk...now he repeatedly asked me to come to his office but I didn't budge....infact I told him last month that market will correct 40% so I'm waiting....now last week he reduced his price to 1 cr if I pay 40lac down payment...Sir u r absolutely right... Builders are fraud
Sir I am a civil engineer worked in building construction my simple advice to all buyers either hire a contractors own a land All builders use very poor quality of steel
See people cant understand what you're indeed exposing the Bitter Truth about reality... my parents was duped as well had to go through lot of trouble to get justice.
The major problem in resale property is bank loan especially if property is more than 30 year old and incase if property age is less,than the price would be high especially in mumbai compared to under construction property
Sir, Appreciate your advice. I am duped by Amrapali builders in Noida extension . Since the project was not going in right direction I took away the paid amount in cheque from him by handing over the original agreement. However, the cheques bounced and case was filed. The case is lingering on and I see no end to it in coming years. If you personally guide me for some alternatives. I will be extremely thankful.
Very well explained, absolutely right. Your observations are very apt and true, particularly "market apne aap sambhal jayega" Now the consumers must act so these bastards will be forced to sell their end product a fully developed project. Why builders lobby became the way it is today? blame it on the greed of the investors. Secondly with all the due respect to you, you have forgotten the good old days of your time when people themselves would come together and would buy a peice of land and do a self development with help of Architect. Here an estate agent has an important role to play. That time Bank use to give project finance for such endeveour. Bankers stoped and started govind individual loan and all such odd things started.
I booked flat in Puraniks Unicorn Thane in April 2022 and cancelled it in May 2022. They did not give refund of token Rs. 1 Lac. Not even 1 rupee. At the time of booking they say something and after booking they refused to give loan and said they will charge interest for late payment of flat cost. There construction depend only on forfeit amount of customers booking. Don't go for these builders. They looted poor people by taking sign on application form only.
Don't worry Sir, you are doing a great work for the common and poor people who are getting exploited everyday from these cruel human sharks all over in the form of anybody around us trying to govern the Indian system. And obviously, those who doesn't wants others to prosper will not only call you urban naxal but by any other name, it should not matter to you, because name is not everything. Its what you share and how true the information is without being biased is what is very important. So, you will have people's prayers which is powerful than anything else in this world. Please keep sharing and guiding the common man of India on many important things which matter to their lives. Only ensure that you are safe because the sharks can go to any extent to ensure that their road to exploited and corrupt earnings is not reduced even a bit.
In Tata Amantra Kalyan project sales man Rajiv Shetty said token money is refundable & I paid Rs 2.50 lacs. After that when I didn't go ahead with the project I asked for refund they told me to buy any flat in any project anywhere in India & they would adjust the 2.50 lacs but still aren't paying back my money since Dec. 2015
hum builder se flar le lete hai lekin jab complain karte hai to waha rahne wale 99 percent log isliye saath nahi dete kyoki unka flat issue nahi hai,unko hamare problem se kuch lena dena nahi, jab tak aise log hai builder ko sabak nahi milega
Unfortunately first time home buyers falls prey to the cheatings builders...it is too late when they come to find Krish's advise in this platform 🙂...cheating in business is a cultural deficit in our society, honest and innocent people are always the victim...
I am one of the many shop buyers who have been duped by a builder named "TAYAL GROUP". I am talking about "Empress Mall" Dombivli east dist: Thana (Near Mumbai). More than 30 buyers have been duped. The mall was built in 2014 which has 3 floors. On the ground floor "BIG BAZAAR" was running. Hence so many shops were sold. Due to some unknown reason BIG BAZAAR was shut down. After few weeks remaining shops were also closed. On dec 3 , 2019 by a court order, the mall by locked by MIDC. Now a case is pending in the Mumbai High court between builder (TAYAL) and MIDC, Dombivli. We still don't know what is issue between builder and MIDC. Many buyers suspect a collusion between them. (Mili-Bhagat). It seem Some devine intervention is required. I request to all readers please help the hapless buyers in getting them justice.
But even while buying a second hand flat, the seller shows his original agreement with the builder and says that he has paid for and got this area so he will obviously want the cost for that area even if it is not that. Means if he has been tricked or cheated, he will surely want to pass it on to the next buyer. So how can the buyer not be cheated??
That's true Sir..I myself have experienced this.. lost my initial booking amount.. of Rs.20,000.. Had paid to Neptune Builders for a project in Mumbai suburb. Atleast I am glad to take decision to stop at that moment only..🙏
@@redlawcricket2445 Hopeless Management, arrogant staff. I have to run for my refund from dombivli to their bhandup office. Even though i never received my money back.. Neptune Developers is SCAM, FRAUD...I will never recomment anyone..
Absolutely correct .. burnt my fingers twice.once with Jaypee and Tata housing.Tata serein Thane delayed and no possession or compensation for homebuyers.Always buy ready to move or OC received .
Great job!! Thought came to my mind, why don't you start a consultancy which will advise people while making purchase and refrain from making a bad deal..
Building own houses is every is probably everyone's dream in this country. But the hassle involved in building own house in India is something which makes most people back away. You might end up getting pestered in almost all government offices for any approval & end up paying bribes to catalyze the process. Its not a surprise that government even though they can, never simplify these processes, because they have to retain the nexus between them and the crony builders who surely fill their pockets during elections. Hence people prefer buying flats which are comparatively less stressful-but of course there are always cases like Lodha in almost all cities, Consumer needs to be extra careful. Thanks Krishnaraj Sir, I suggest you should start reviewing flats in all Tier-I cities. :D
Somewhat agree. Resale flat mein bhi kabhi kabhi issues aa jate hey aage jake like blockage and all...Koi bhi owner kabhi sacchi cheez nahi batata...Maine recently flat sell kiya mere isme bhi issue tha but I didn't said anything...Better to invest in almost 90% ready project and before giving token do some research about builder. Here some will agree some will not but this is my opinion.
Why don't u do a video on Hiranadani Fortune City, Panvel. It is the biggest den of manipulations. Promised a 1,50,000 sqft club house and have already collected Rs.50,000 to Rs.1,00,000 from each buyer for club house but made a small interim facility. He can enjoy the interest free money for many years. After getting the project under DRT in April 2014 when all 30+ slabs of 9 towers were cast and 95 percent was already collected from buyers who booked flats in 2010 and 2011, he uploaded the towers on RERA site with delivery deadline of 28/04/2020. The delivery deadline stipulates builder may endeavour to give possession. This is against his written communication to buyers that possession will b given by end October 2016. He also demanded extra Rs.500/- per sq ft over and above the agreed price in allotment letter towards infrastructure whereas the oringinal Allotment letter contain seperate amount to b paid towards infrastructure. Now after collecting the final payment and other charges in August 2019 he is not giving possession if the flat unless the buyer signs an undertaking that buyer will not claim any damages for delay. I am one such victim till now in the project having a 2bhk flat in Tower named Mellona. Builder does not reply to communications from buyers.
Krish, most estate agents and sellers will not talk about the problems. Just by inspecting flat layman cannot tell all the problems. I am personally experienced in fighting with top builder of India.
Sir ek question h, agar End User/Customer se kharidna chahe toh wo Buying price se jyada(profit) me bhechega right? Jitne me usne Builder se kharida usse jyada me bechega, toh hum direct builder se kharidna is better aur sasta pdega na??
Very relevant, even post possession not easy to sell as Builder will charge huge huge transfer fees to safe guard his own liquidity. Remember GST ,Govt tax, Registration cost
