Quote:
Originally Posted by sattebaaz
Never heard of the builders. But I dont understand how come retail/end-users are investing in properties of builders they have got no idea about.
Usually, investing in projects that dont have any permission in place is done by folks who have some sort of understanding with the builder.
But the fact that agents are involved in bringing in clients (investors) for this yet to be approved project makes me believe that the builder did not get access to the traditional initial-investor junta, which would usually imply that its quite risky.
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ur right... The project is being built under the SRA scheme I think. And as far as I know under SRA scheme the builder can get approvals for flats to be sold in open market only after he completes the SRA building and those flats are allotted to the slum dwellers. Only then can he start building the buildings meant to be sold by him and that's usually when bookings should open. Also, I read about some SRA scheme (in Worli) that has been delayed for years because of some issues. So, booking a flat in this project before if gets all approvals is quite risky.