Are 'Buyers' Cash Cows for Builder

Q: What do you think of the question, provide your opinion considering from booking of the apartment to getting possession, sub-lease agreement and thereafter annual maintainance charges

Ashwaane Kumar Singhal,

5th July 2016

Buying property in Mumbai

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thanks for sharing this info.

liyans, Kolkata

8th July 2016

Comment

Hi all,
Builders cannot levy any additional charges without any justification. They are adopting tactics to achieve their illegal purposes and arm-twist the buyers to extort more money by raising the cost price or levying additional charges which do not form part of the original contract. They think that buyers are cash cows for them and anytime they will twist their arm and will get money.

Adnan Khan, Mumbai

6th July 2016

Comment

@Ashwanee,
It's a win-win situation for everyone involved in the process. The builder ensures that his project is sold out even before the formal launch, while the property dealer gets his own cut. The first buyer makes a killing on his ability to invest the required amount upfront, while the second buyer gets a property of his choice in any case. They have often made money through this sale process. It gets them better gains than the stock markets and is less risky.

Shubham Bharat, Mumbai

6th July 2016

Comment

It is correct Shubham. There is no problem if you do not have the money to invest, you can always get the amount financed by any of the leading banks and financial institutions. There is enough money to be made even after paying interest for a couple of months for the money borrowed.

Abhinandsavalla, Mumbai

6th July 2016

According to me, consumers should not invest in under construction properties. All major developers have missed their deadline on different pretext. Read out the agreement paper again and again and clear all the extra charges. Better pay some extra and buy ready to move in flat.

Abhinandsavalla, Mumbai

6th July 2016

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