Have a question? Ask it here.How Real Estate Developers have Duped Customers in Past?

Q: The entire real estate market of India seems to be notorious due to the lack of transparency. Buyers, most of the times, find themselves locked in the property that has several defects or end up paying charges which they should not be liable to pay. It is even worse when the buyer is just forced to shell out money to fund fines that are actually levied on the builders.

Priya Jain,

25th September 2017

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I agree with you both. It is important for any buyer to read the terms and conditions carefully and find if there any clause regarding advantage builder where the builder is given the right to revise the price of the property. There can be that price-escalation clause where the builder can increase the price of the apartment and the charges relating to it. There are various other ways in which the builders can cheat a buyer.

Vikash V, Ahmedabad

29th September 2017

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Ye Priya.....the investors, who have been duped by unscrupulous builders, cannot be left high and dry. Any builder or developer who dupes by motivating, attractive, painting false pictures, selling and diverting the offers and then arm-twist the investors, has to face tough legal actions now.

Sanchita Chanda, Ahmedabad

29th September 2017

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It is also seen that the builders often attract investors into depositing the amount in cash only to escape from tax liabilities and once the investors fall into the trap to such a situation, they are then silenced through the fear of prosecution by tax authorities.

Devesh Kumar, Ahmedabad

29th September 2017