Fraud developers in real estate market

Q: Who are going to take care of the fraud developers in the real estate market?

Armaan Saxena, Bangalore

31st July 2013

Real estate News in Bangalore

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Instances have also been reported where certain developers use fake or duplicate copies of the documents of the buyers and use them for profit value. In few cases, the value of the transaction is also changed.

Sreya Khan, Bangalore

1st August 2013

Comment

Over the years, Bangalore has emerged into a matured residential market with surging employment opportunities and prominent IT parks, however, the consistent influx of fraud developers and builders has marred the real estate market of the city significantly. In a move to save Bangalore from heading for a fall, the Karnataka government has recently introduced a new provision to curb such activities and promote real estate growth in the city.

Sreya Khan, Bangalore

1st August 2013

Comment

Private layouts get a go-signal after they acquire a license from BDA, while plots out of city periphery need permission from BMRDA. It is the mandatory rule of BDA to conduct a proper background check before granting a license to private layouts.

Bijoy Singh, Bangalore

1st August 2013

How the property buyers are duped?

Armaan Saxena, Bangalore

1st August 2013

A flourishing real estate market of Bangalore has turned out to be wide of the mark, as a number of landowners, like the NRIs, are becoming victims of land mafia. Inability of the NRI’s to visit the site physically acts as a convenience for the real estate agents who sell such plots illegally at a higher price.

Rakesh, Bangalore

1st August 2013