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Real Estate Forum on Possession

Real Estate Property Discussion Forum and Guide to Real Estate Queries

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Q: Hi Authorities,

Please note that we have recieved the offer of possession, however the property is incomplete yet even after a delay of five months. I urge the Southcity Builder to provide us a date of completion and assurance that we will not be handed over a grossly incomplete authority. Even if the apartment is complete, it seems that there will be a delay in the construction of common areas and property will be in no practical shape to move in.


If there are more people online, who have also invested in here, please join me.

Thanks
Archana

Latest Answer: HI members I have a 4 BHK flat at South city which was supposed to deliver me bye dec 2012 .receantly i received offer letter of possession however all electricity work , wooden work even Doors, modular kitchen works ,paints etc not started yet. surprisingly lift fitting work has not started since i received offer letter of TOP Floor of 13 floor building....really dont know they r joking or what ???
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Q: Hi,
I am a buyer at a 3BHK at Southcity. I have serious concenrns over property completion. Although we have recieved the offer of possession, an in-person site visit reveals that the property is not at all complete from common areas perspective.

We are soon sending a letter to The MD south city, seeking an explanation. Buyers/Owners/Inverstors , please join me in this communication.

Thanks
Sonia

Latest Answer: Dear All, I request you all not to buy any property in SBP. Most of the people are facing similar problems. Kindly refrain from purchasing any of their property.
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Q: I've booked a 2bhk apartment in nanded city. as per the registration document the builder was supposed to give me delivery by Feb 2012. Yesterday, when I visited their office I got to know that the possession would be given not before Dec 2012. There is delay of almost an year. I am very upset with the delay as I will have to keep paying rent until then for my rented apartment. Is there any way I can ask for compensation from the builder for the additional rent cost I'll incur due to the delay? Does any one know the legal way (consumer court, etc)?

Latest Answer: Hi Vivek, the builder will have 6 months or 12 months grace period for delivering the house even after the mentioned date of possession in the deed. If he exceeds the grace period then the builder will have to pay some compensation (around 1% per sqft). It is better to take advice from a legal expert.
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Also see discussions for
Q: What is the issue behind the forced possession taken over Bandra bungalow?

Latest Answer: Hey Aditi, If you want to know more about the news, you can just click here Builder held for illegally acquiring bungalow in Bandra to read the news in a precise way.
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Q: How many residential projects have acquired possessions by the real estate firm and how many are yet to get possessed?
Latest Answer: Till date 208 residential units have already acquired the possession and 358 units are yet to get possessed.
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Q: Why is there a delay in the upcoming projects in Bangalore? What is the reason behind it?
Latest Answer: According to sources there will be delay in the projects because of the sand lorry strike which is making laborers unemployed, affecting the schedule and causing delay in the possession. The industry is already having shortage of laborers which could further add to realtor's woes.
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Q: What is the current price per sft in Salarpuria Greenage?
When is possession expected?
Latest Answer: Salarpuria Greenage is located at Hosur road in Bangalore and offers 2 & 3 bedroom apartments. 2 BHK apartments have saleable area 1345 sqft and carpet area as 941 sqft. 3 BHK apartments have saleable area ranging 1590-1872 sqft and carpet area ranging 1113-1310 sqft. The rates per sqft in all apartments are Rs 4500. Approx come upto 60 to 85 lakhs. You can contact builders for further details on rates. If you are interested you can post your requirement at http://www.commonfloor.com/post-public-property-requirement to get matching properties details on your Email and Mobile.
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