Because of one-sided sale agreements tilted in a developers favors, buyers have no option but to be patient when the developer delays his project. Builders start selling flats even before work starts. There are several reasons for a stalled project. Many times builder run out of funds or the authorities issue them a stop-work notice for violations. Many times such delay is there because the developer changes the building plans or delay in procuring approvals, Before buying any property one should check copy of all legal documents like approval of municipality, sample sale agreement etc. and get these document verified . Many times buyers get the legal papers only after paying the cash component or some percent of the price of property .Once buyer pays some amount ( that goes into some lakh rupees) he fall in builders trap he has no option other than to believe or wait for the project to be completed. He avoids any legal action or complaint to authorities because fear of losing money. And delay in justice in India is main cause of such fear. - See more at: vijaykumbhar.blogspot.in/2014/12/Real-Estate-Pune-investors-property-buyers-Maharashtra-Government-stringent-remedies-action-against-cheater-builder-developers-delay-in-project-verbal-claims-glossy-brochures-MPID-Act.html#sthash.Y0y8cY2Y.dpuf
Posted on: Wed, 24 Dec 2014 11:31:33 +0000