Delay in possession hits the real estate sector.

Q: Hi I am Sanjay and I have booked a flat in Indirapuram and waiting for the completion of the project. One of my friend's said that the builders keep on delaying from the expected date of the possession. Why is it so? What is the reason that the builders are not able to give the delivery on time?

Sanjay Gupta, Delhi-NCR

18th November 2011

Real estate News in Ghaziabad

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Hi Sanjay, this is not only happening in your city but in other cities too. I am from Bangalore. Even I booked an apartment and it got completed only 11 months after the expected date of possession. The reason is that first of all the builders handle a lot of projects together, secondly they do not have money to finish the project and third the price of the materials required for construction are shooting up because of which we the property buyers suffer.