muskan thakur

In Real Estate:- It is more Imaginary then real.

There are many cases in which builders start selling flats just after acquiring land and without any senctioned plan.

Most of the marketing brochures of real estate projects have a line printed on it that this is tentative plan and subject to change, i think this is due to the reason that they have applied for the approval of maps and plan but they dint have approved plan.

Can any one here tell me that what is the way to know that a builder is making a project with legal papers and approved maps or not???

ks2071746

Dear friend,

Business is always on mutual trust and belief. In RE, as there are bad elements also exist i this country, one gets all the doubt. The best way is to buy a flat after seeing all the approval papers are in place. But one may lose a good flat of is best choice in the process. One should see the background of the builder, his own standing in the market, his performance in the previous projects and current projects and proceed.
Reputed builders of standing in the RE market can be trusted and only points to be taken due care, is hard negotiation at the present condition of RE market and the possibility of some delay in the progress and completion/handing over of the flats.

ks2071746

nick_alan_76

I tend to disagree KS. Business is done on mutual trust and belief only when the mutual trust has been established and necessary due diligence (paperwork verification and contract signing) has been done. Without those, it is a pure gamble. One won't get a business loan without the proper paper work, ability to pay verification etc. Without those you a a clear case of bubble formation in the market.

Also mutual trust would be established if two parties have previously dealt with each other. Just reputation in the market is not good enough for establish the trust.

smartboy

See what happen to DLF chennai b uyers, Guess DLF satisfies all the said criteria. My take is everything should be in place before they start marketing.

nick_alan_76

Trust But Verify - Ronald Reagan (The guy I don't respect much for Reagonomics - pun intended).

muskan thakur

Agreed Ks that business is done on mutual trust. But how can we make sure about the clarity of a Developer's background. in their websites they will represent as best builders. so how can one make sure that the developer is having a clear background or not.

Regards
Muskan