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IREF® - Indian Real Estate Forum > Real Estate in India > Real Estate Pune > Buyer's Cartel - Target Builders - Send Across a Message
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Old January 11 2012, 12:02 AM   #1
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Default Buyer's Cartel - Target Builders - Send Across a Message

Hi Friends,

For long we have been hearing how the builder’s cartel is exploiting the financial illiterates for their ignorance. I have nothing personally against them. But I do find their practice unethical on every front. (Price, Quality, disdain sales and marketing gimmicks etc). So I was wondering is there no solution in sight. Can't we do anything about it?

What are the best ways to send across the message?

1. Is it possible to target a builder in each area and discourage buyers not to visit them for a quarter at all. The builder and area is centrally decided in this forum. Since I believe this is the best forum which has given buyers their voice (in turn be a brand ambassador for this site).

2. Others spreading the message through your respective company bulletin boards and informing others not to even visit any of the projects for that builder or may be project. And even if somebody visits; offer them a equally ludicrous price in comparison to the over hyped unethical price.

I hope this will at least send the message. That the builders cannot arm-twist on every front in an unethical, artificial way. They need to partner with the buyers, need to come to a level playing field and address the buyer’s genuine concern. While pricing the builders also need to consider if it is ethical what they (builders) are asking for and not just play with affordable average value and play around with loading charges.

Members, suggest if any better ways.

 
Old January 11 2012, 01:41 AM   #2
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This is an impractical and I am sorry to say, a childish suggestion. If you really want to do something about it - then spend some effort in creating transparency about the true real estate prices that people pay for new constructions as well as second hand sales. Once you create information and transparency about real estate transactions, then it would be harder for builders to charge exorbitant rates. Ideally prices should be determined by demand-supply. But in India, builders are able to give the perception of excessive demand relative to supply, because YOU have no way to verify whether such a demand actually exists because there is no information about the true transaction prices. The existence of black money makes this even more difficult. There are a lot of smart intelligent people on these boards. Why not spend some time and effort in building a website that captures the true transaction prices in every city. Its not an easy task but then nothing is easy!
 
Old January 11 2012, 02:30 AM   #3
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Originally Posted by stinaikar View Post
This is an impractical and I am sorry to say, a childish suggestion. If you really want to do something about it - then spend some effort in creating transparency about the true real estate prices that people pay for new constructions as well as second hand sales. Once you create information and transparency about real estate transactions, then it would be harder for builders to charge exorbitant rates. Ideally prices should be determined by demand-supply. But in India, builders are able to give the perception of excessive demand relative to supply, because YOU have no way to verify whether such a demand actually exists because there is no information about the true transaction prices. The existence of black money makes this even more difficult. There are a lot of smart intelligent people on these boards. Why not spend some time and effort in building a website that captures the true transaction prices in every city. Its not an easy task but then nothing is easy!
Agreed, targeting individual is unethical and wrong practice. you can provide fact and figure to people which will help them to take decision. but don't worry, time is changing and we will see the impact very soon.

I was just wondering, does RTI act can help in knowing current sales volume in the city? if yes then where can we contact, i mean in which govt dept? it can give at least a picture about market and if sale is stable then I don't see property price can come down.
 
Old January 11 2012, 02:36 AM   #4
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Originally Posted by pradip_pune View Post
Hi Friends,

For long we have been hearing how the builder’s cartel is exploiting the financial illiterates for their ignorance. I have nothing personally against them. But I do find their practice unethical on every front. (Price, Quality, disdain sales and marketing gimmicks etc). So I was wondering is there no solution in sight. Can't we do anything about it?

What are the best ways to send across the message?

1. Is it possible to target a builder in each area and discourage buyers not to visit them for a quarter at all. The builder and area is centrally decided in this forum. Since I believe this is the best forum which has given buyers their voice (in turn be a brand ambassador for this site).

2. Others spreading the message through your respective company bulletin boards and informing others not to even visit any of the projects for that builder or may be project. And even if somebody visits; offer them a equally ludicrous price in comparison to the over hyped unethical price.

I hope this will at least send the message. That the builders cannot arm-twist on every front in an unethical, artificial way. They need to partner with the buyers, need to come to a level playing field and address the buyer’s genuine concern. While pricing the builders also need to consider if it is ethical what they (builders) are asking for and not just play with affordable average value and play around with loading charges.

Members, suggest if any better ways.
There are even better ways..

1) Bring the builders under LokPal
2) Regulate the builders and bring them under a government supervisory body
3) Regulate property prices like everything else is regulated... oil, vegetables etc..
4) Give tax benefits to builders who offer flats lower than current market rates
5) Open up Special Home Zone's (like SEZ's) to develop remote areas and offer great discount to builders to build property there...
6) Ask builders to declare sold v/s unsold numbers for each project under RTI

Its only my 2nd glass of red label..will post more ideas later (if i can... after the 4th glass
 
Old January 11 2012, 02:59 AM   #5
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Originally Posted by tarcap View Post
There are even better ways..

1) Bring the builders under LokPal
2) Regulate the builders and bring them under a government supervisory body
3) Regulate property prices like everything else is regulated... oil, vegetables etc..
4) Give tax benefits to builders who offer flats lower than current market rates
5) Open up Special Home Zone's (like SEZ's) to develop remote areas and offer great discount to builders to build property there...
6) Ask builders to declare sold v/s unsold numbers for each project under RTI

All your 6 suggestions require the cooperation of people in Government or the bureaucracy- both of whom have vested interests not to do anything about anything. Think about suggestions you as a citizen can do on your own without any help from the Govt.

Its only my 2nd glass of red label..will post more ideas later (if i can... after the 4th glass
All your 6 suggestions require the cooperation of people in Govt. or bureaucracy - both of whom have vested interests not to do anything about anything. Think of what you as a citizen can do on your own - without any help from anyone.
 
Old January 11 2012, 03:53 AM   #6
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Icon18 and the government was elected by ...eerrrrrr..hmmmm

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Originally Posted by stinaikar View Post
All your 6 suggestions require the cooperation of people in Govt. or bureaucracy - both of whom have vested interests not to do anything about anything. Think of what you as a citizen can do on your own - without any help from anyone.
and the government was elected by ...eerrrrrr..hmmmm
 
Old January 11 2012, 07:41 AM   #7
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and the government was elected by ...eerrrrrr..hmmmm
What's your point?
 
Old January 11 2012, 09:10 AM   #8
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Originally Posted by gourjhamar View Post
Agreed, targeting individual is unethical and wrong practice. you can provide fact and figure to people which will help them to take decision. but don't worry, time is changing and we will see the impact very soon.

I was just wondering, does RTI act can help in knowing current sales volume in the city? if yes then where can we contact, i mean in which govt dept? it can give at least a picture about market and if sale is stable then I don't see property price can come down.
I think that data is something the Govt. puts out from time to time. I have often read in the news about registrations in Mumbai falling or rising. here is a link on Mumbai property registrations. But haven't encountered any news about Pune property registrations. You should be able to get it through an RTI.

Mumbai property registrations down 20% in November, at 31-month low - Economic Times
 
Old January 11 2012, 10:49 AM   #9
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Quote:
Originally Posted by pradip_pune View Post
Hi Friends,

For long we have been hearing how the builder’s cartel is exploiting the financial illiterates for their ignorance. I have nothing personally against them. But I do find their practice unethical on every front. (Price, Quality, disdain sales and marketing gimmicks etc). So I was wondering is there no solution in sight. Can't we do anything about it?

What are the best ways to send across the message?

1. Is it possible to target a builder in each area and discourage buyers not to visit them for a quarter at all. The builder and area is centrally decided in this forum. Since I believe this is the best forum which has given buyers their voice (in turn be a brand ambassador for this site).

2. Others spreading the message through your respective company bulletin boards and informing others not to even visit any of the projects for that builder or may be project. And even if somebody visits; offer them a equally ludicrous price in comparison to the over hyped unethical price.

I hope this will at least send the message. That the builders cannot arm-twist on every front in an unethical, artificial way. They need to partner with the buyers, need to come to a level playing field and address the buyer’s genuine concern. While pricing the builders also need to consider if it is ethical what they (builders) are asking for and not just play with affordable average value and play around with loading charges.

Members, suggest if any better ways.
I dont know whether this will help in bringing down the malpractices...but it will definitely lead to initiating a "supari" against you
 
Old January 11 2012, 11:40 AM   #10
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Originally Posted by rembrants View Post
I dont know whether this will help in bringing down the malpractices...but it will definitely lead to initiating a "supari" against you
Ha ha ha.....No man. Don't scare people away.

And afterall its not only him.......but all the people who come out for his support.

Kis kis ki supari doge.....tum aaj ek ko maaaroge...kal hazaar paida honge.....

Ronak seth...aaj apun teri aankh ke saamne ye saara market khol daalega.....tu rok sake to rokkkkk
 
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