Q:We booked a flat in Kolkata that is due to be handed in early/mid 2018. However, the location feels far to us now & we want to go back on the deal. The contract says the breach would amount to some Rs.50,000 penalty. We have paid 7lacs till now & ready to bear the 50k penalty. My question is, will this be a smooth process or is there a chance for the builder company to cheat us or extort more than 50k? Just looking for any experience/advice on the matter before I approach the builder company regarding this. Any helpful response is appreciated.
Q:I have some doubt in Builder Buyer Agreement of Signature Global Grand IVA project. I am asking below questions since 28th July'16 but they are not giving reply.Point 3.6: "the Allottee agrees that the Developer shall be liable only to refund the amount received from him/her without any interest or compensation whatsoever".Question: Developer is charging @ 15% per annum from due date, if Allottee does not pay any demand on time. Is there any penalty clause on Developer, if Developer not able to deliver the flat in 48 months without any FORCE MAJEURE mentioned in the Agreement?Point 3.7: "The Allottee, before taking possession of the said flat, shall completely satisfy himself regarding the construction, facilities and amenities in respect thereof and hereby agrees not to raise to any dispute on such account thereafter, either individually and/ or by joining as member(s) in the society/association and or otherwise, in any capacity. The Allottee, after taking the possession of the Said flat, shall make no claim against the developer in respect of any item of work in the Said flat, which may be said not to have been carried out or for non - compliance or any design, specifications, building materials or any other reason whatsoever or on account of any Common Services and Facilities".Question: How can I assure that Developer would not compromising with quality of construction (internal as well external of flat), facilities and amenities? Who will be responsible for quality check of materials as well as construction, facilities and amenities?Point 4.3: "The charges for providing external electrification, electric wiring in the said flat, firefighting measures/equipment in the common areas as prescribe in the existing firefighting code/regulation and power backup, shall be payable by the Allottee in addition to the basic Total Cost, as prescribe herein." Question: What would be the total or near about cost because noting is mentioned about the cost in agreement?Point 7.6: "The Insurance of said Unit as well as the interior/contents inside the said Unit shall be the responsibility of the Allottee(s) and Developer shall not, in any case, be held liable for any damage or loss occurred on account of any theft, loss, neglect or omission of the Allottee(s) in the regard".Question:What would happen, if internal plaster start creating problem. seepage in the said Unit. few months after possession because, as per point number 3.7, I can't check construction and material quality before and after the possession?Point 23: Question: Does it means that I can't choose Arbitrator and Arbitrator decision shall be final and binding upon the parties (Allottee and Developer)? It is very much possible that I would not be satisfy with Arbitrator's decision because Developer will only choose the Arbitrator. What would happen, if I am not satisfy with Arbitrator's decision?
Q:Arihant Superstructures Ltd CHEATS home / flat buyers in BIG way. Government is just silent too.-See they take advance from buyer showing all good things.-They take 20% cost of the flat before '' Agreement for Sale'' Registration.- Now buyer will object to the draft of '' Agreement for Sale'' as it is ALL IN FAVOUR of builder. violating Government approved modael '' Agreement for Sale'' -Buyer will go to court, Builder with his panel of advocates / paying up where needed, oppose it & after 20- 25 years, judgement comes to refund money. This money is worth 5-10% of actual value as flat cost has jumped to 2000 %, original buyer is Dead too.- MH Gov officers / are on the side of builder - you know why...How will poor buyer get justice.. Write to PMO portal.. see results too..
Latest Answer: Hi Anushkha,
I think possession date is not over. A buyer can file a case only when the project is delayed by more than 6 months. So, better buyer should put pressure on builder for timely possession in stead of filing case. Arihant Amisha is under construction project and date of delivery will be December'2016.
Latest Answer: Hi Kushbu, In Sarjapur I do not think you will get any gated community but if you come little on the ORR side You will get gated communities like Prestige Ivy Terraces or Prestige Sunshine. Even you can have a look for Prestige Glenwoods in Budigere Cross.
Latest Answer: Hi Guys,
According to sources, there is a misunderstanding & miscommunication between the builders and buyers. This is primarily important to settle the misunderstanding between builder and buyer. GAC need to take serious steps to resolve this misunderstanding. So that this will enable trust & courage in people and work as a trust building endeavor.
Q:The Millennium City frequently is by all accounts at loggerheads with itself, always tormented by an absence of administration as offices advantageously pass the buck.
Latest Answer: Hi Nithin,
As per sources, according to Col. Prithvi Nath, secretary, Real Estate Development Council (REDCO) of Haryana, the conclave's organisers, this meeting will be held following three months to survey the advancement. All great developers ought to altogether remain against the manufacturers who are doing incorrectly and blacklist them by making associate weight. Today, a large portion of the developers are not wrong yet few wrongdoers have insulted the picture of the great work of the manufacturers.
Latest Answer: Hello Raj, you pointed out correct that direct selling is setting a new benchmark in property transactions in the real estate market. I would also like to mention anout a real estate builder Unnati Fortune Group, which is fast emerging as best real estate company in Delhi NCR. The group is offering premium residential and commercial projects in Noida - The Aranya and Unnati World, respectively. The projects are equipped with all modern amenities and offer residents the life of utmost luxury and comfort. The projects are strategically placed at most inhabited sector 119 and sector 144 of Noida, and offer residents great connectivity through the Noida Expressway and FNG corridor. For more detail, you can visit: http://www.unnatifortune.com
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 !!!!
Latest Answer: 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.
