Be aware of "under construction" builders - Indian Real Estate Forum

gainvidya · 02-03-10

My brother just visited a sample flat at of the good builder in Mumbai. The marketing dept make it sound like its a BIG 2 Bed room flat with 1025 Sq feet of area. But the trap is the carpet is 600 Sq feet. So if he says Rs 10000 Per sq feet it actually mean nearly Rs 17000 Per Sq feet if you consider all other hidden charges.

Rs 10000 this is still considered as cheap because its "Under Construction".

the major hurdle is delivery of that "Under Construction" property. Risk involved
>project left half way (I have seen many project abandoned).
>Greedy builder constructed more than permitted which leads to legal issues (still the buyer is in lose)
>Legal issues at later stage for many reason(Again tons of example out there).
>If the builder is very strong then at the end issue of water connection from authority..

I can go on listing issues... You would be lucky if your "Under construction" property is delivered to your at the end....

boldm28 · 02-03-10

I know one thing for sure

no new water connection till vaitarna project is cleared by the government

veeemkay · 02-03-10

The best way to compare projects is to always calculate percarpet area rate i.e.

Complete cost / Carpet Area... this way one will be able to compare relatively well between projects.

VK

boldm28 · 03-03-10

Quote:

Originally Posted by gainvidya

My brother just visited a sample flat at of the good builder in Mumbai. The marketing dept make it sound like its a BIG 2 Bed room flat with 1025 Sq feet of area. But the trap is the carpet is 600 Sq feet. So if he says Rs 10000 Per sq feet it actually mean nearly Rs 17000 Per Sq feet if you consider all other hidden charges.

Rs 10000 this is still considered as cheap because its "Under Construction".

the major hurdle is delivery of that "Under Construction" property. Risk involved
>project left half way (I have seen many project abandoned).
>Greedy builder constructed more than permitted which leads to legal issues (still the buyer is in lose)
>Legal issues at later stage for many reason(Again tons of example out there).
>If the builder is very strong then at the end issue of water connection from authority..

I can go on listing issues... You would be lucky if your "Under construction" property is delivered to your at the end....

please name a few builders for the benefit of all other people who r trying to buy a flat

gainvidya · 03-03-10

Quote:

Originally Posted by boldm28

please name a few builders for the benefit of all other people who r trying to buy a flat

Water problem: Majority of the new construction have problems.... Go to Royal Palm much hyped development only 2 out of 12 buliding constructed get BMC water..... (even that I am not sure) and they are still constructing 12-15 more building....

Sq feet Area deception: Go to HDIL Project in Lokhandwala on J.P. road nothing less than 1.2 to 1.3 crore .. (11000 per sq feet) selling it as 1000+ sq feet area and carpet would be around 600 sq feet...

kuldeep2010 · 03-03-10

HDIL is a daylight robber. Please avoid this builder at any cost. Also the quality of construction is very poor. Look at HDIL Bhandup for example.

02-03-10	#1
gainvidya Member Join Date: Nov 2009 Posts: 51 Thanks: 0 Thanked 0 Times in 0 Posts	Be aware of "under construction" builders My brother just visited a sample flat at of the good builder in Mumbai. The marketing dept make it sound like its a BIG 2 Bed room flat with 1025 Sq feet of area. But the trap is the carpet is 600 Sq feet. So if he says Rs 10000 Per sq feet it actually mean nearly Rs 17000 Per Sq feet if you consider all other hidden charges. Rs 10000 this is still considered as cheap because its "Under Construction". the major hurdle is delivery of that "Under Construction" property. Risk involved >project left half way (I have seen many project abandoned). >Greedy builder constructed more than permitted which leads to legal issues (still the buyer is in lose) >Legal issues at later stage for many reason(Again tons of example out there). >If the builder is very strong then at the end issue of water connection from authority.. I can go on listing issues... You would be lucky if your "Under construction" property is delivered to your at the end....

02-03-10	#2
boldm28 Member Join Date: Aug 2009 Posts: 231 Thanks: 0 Thanked 0 Times in 0 Posts	no new water connection till vaitarna project is clear I know one thing for sure no new water connection till vaitarna project is cleared by the government

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02-03-10	#3
veeemkay Senior Member Join Date: Jul 2009 Posts: 557 My Mood: Thanks: 4 Thanked 2 Times in 2 Posts	The best way to compare projects is to always calculate percarpet area rate i.e. Complete cost / Carpet Area... this way one will be able to compare relatively well between projects. VK

03-03-10	#6
kuldeep2010 New Member Join Date: Feb 2010 Posts: 2 Thanks: 0 Thanked 0 Times in 0 Posts	HDIL is a daylight robber. Please avoid this builder at any cost. Also the quality of construction is very poor. Look at HDIL Bhandup for example.