New Builder & Buyer Pact in Ghaziabad.

Q: Hi, Is it possible that this pact will clear the disputes between builder & buyer. Where ever you go ,this dispute will be there. How far this will be help full !!!!

Payal sharma, Ghaziabad

3rd November 2014

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Replies (4)

Hey Guys,
As per news, Mr Alok Kumar, president of FedAoA, said many numbers of conflicts recorded in the past between the builders and flat buyers are because of darkness & uncertainty in the builder buyer agreement. The idea of minor deviations, as suggested in the model builder buyer agreement, has been brought up by FedAoA for absence of clarity.

Jackie,

8th July 2015

Comment

@ Mr Dhiraj,
As per the proposed bill, builders will need to hold fast to a approved project plan. Just minor deviations will be permitted because of building constraints and so on. On the other hand, buyers said dispute will continue if a restriction on minor deviations admissible in projects is not characterized.

Ananya,

9th July 2015

Hey Guys,
According to Mr Aloke Kumar, the Real Estate (Regulation and Development) Bill, 2013, should likewise incorporate provisions to hold real estate builders as well as their brand ambassadors accountable, if there are real deviations in properties as well as dimensions of apartments given out for possessions, against those guaranteed in the agreement.

Veena K,

10th July 2015

@ Hey Dhiraj,
FedAoA members requested that the panel to alter the ratio of shops permitted in a housing society. Mr Kumar said Ghaziabad Development Authority's building ordinances confine the total area for shops to 5% of a project area, yet builders develop more shops under the rule of 5 shops per 200 flats. Ascend in the quantity of convenience shops prompts more pressure on open base.

Samrat,

11th July 2015

Hi Mr Dhiraj,
As indicated by sources, the 21 member select committee, headed by MP Mr Anil Madhav Dave, had asked experts, individuals, institutions as well as organizations to present their perspectives on the real estate (Regulation and Development) charge 2013, to be considered in a meeting in New Delhi on 7th of July.

Amreesh Murugan,

8th July 2015

Comment

@ Mr Dhiraj,
Among different proposals which have been ordered by Federation of Apartment Owners Associations of Ghaziabad, buyers have requested the board clear up the extent of minor deviations from original building plan that are permitted to builders. They likewise requested that the area given to shops in group housing projects to be limited to 5% of the full.

Pranab Malakar,

8th July 2015

Hey Guys,
I heard from recent news that, centra govt.want more transparency in builder buyer agreement. For this they are requesting report from institutions, organizations , individuals as well as experts regarding real estate bill. Kindly discuss about it.

Dhiraj,

8th July 2015

Comment

Hey Dhiraj,
As indicated by most recent news, two days after a Rajya Sabha select committee welcomed input on the Real Estate (Regulation and Development) Bill, 2013, Ghaziabad home purchasers have requested that the panel guarantee more prominent transparency in builder buyer agreement.

Santosh TR,

8th July 2015

Hi Payal,
According to me, yes this pact/contract will definitely be help full for both builders & buyers . It's like avoid litigation & get full authorized conformed idea about what ever residential project you are going to buy/invest. Apartment owners in Ghaziabad have asked the Union ministry of urban development to formulate a model builder-buyer agreement that reduces disputes and litigations in housing projects in the city.

M.Jain, Ghaziabad

3rd November 2014

Comment

Hi Payal Sharma,

Yes Mr Jain I heard the news, Federation of Associations of Apartment Owners (FedAOA) of Ghaziabad demanded to concerned ministry that an annexe of the true disclosure of the project be included in the agreement that includes details of land history, facilities, fixtures and fittings, design specifications and NOCs from departments concerned.

Karan Paathak, Ghaziabad

3rd November 2014

Hi All,

My opinion is according to the federation, disclosures made at the time of agreement would rule out chances of manipulation by the developer.
This is really help full for buyers to get fully authorized ,litigation free authorized land or apartment. But how far builders will react it !!! It is not like all builders won't be happy with this proposal.
Most of the cases are like builder promising of something & giving something else. Builder brochure showing project is in one place but physically it is present in outskirt of town.

Shenoy, Ghaziabad

3rd November 2014

Hi Guys,

Yes Shenoy, So to avoide all these complains & litigations this pact should be implemented. There are thousand of cases between residents and developers of housing projects are pending in courts. These litigations have mostly stemmed from discrepancies between what was promised to buyers in agreements when they booked the flats and what was ultimately delivered to them. This necessitates a transparent agreement so that homebuyers do not feel cheated after taking possession of their housing units.

Bhaumik, Ghaziabad

3rd November 2014

Hi Payal,

As per my knowledge,one more major thing is delaying in possession. It's like out of 10 builders 6-7builders are not giving possession in right time. After taking grace period of 6 months , still their project is delaying in possession. Some times 1 year or more than 2 years.
So what's happening here is customers are feeling cheated & paying huge amount as interest to banks, Which they never want to .

Imran Khan, Ghaziabad

3rd November 2014

Hi Guys,

So In the letter to the ministry, the federation highlighted that agreements do not contain clauses on the exact date of completion of flats or penalties that developers are liable to pay in case the handover is delayed. According to the federation, an equitable and legally tenable builder-buyer agreement would bring an ample amount of changes in builder-buyer relations and provide valuable contractual rights to both parties.

Khushbu , Ghaziabad

3rd November 2014