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- Dear friend,
Do not expect some one will share his real experience here plainly. You must:
01) Visit the site often to see the progress and enquire in the area about the project and the periodical activities.
02) Get the details of the project, approval stage, land encumberance details and most importantly, the name and details of others who have booked the flats and visit them in person and discuss with them about how they selected the flats, the prices agreed etc. and this checking of the details with others should be a continuous and periodical process. There can be few of the promoter's friends, relations or staff who can be given as parties who have booked the flats in the project.
03) One should not blindly go by the agreement copies for the sale of flats if any shown by the builder. These may be or may not be true.
04) One should also insist on a written agreement that in case the promoter gives any flat at a lower rate than what is agreed, then he should also offer the same rate for the flat. Such a condition is not easy to put in, but one should insist on this so that his rate agreed is not higher than those of others in the project.
04) Never pay the full amount before finally taking over the flat. There can be pending works prolonging.
05) Insist on a penalty clause for delayed handing over of the flat. It can be at a minimum level, equivalent to the rent what otherwise one would have received if the flat had been handed over on time.
06) One should periodically, at least once in a month visit the site to see the progress of work as well as meet other purchasers to share the details and experiences of the builder in this project or his other projects.
07) For every stage payment, please insist that only on your specific clearance, the bank/house finance company can release the stage payments and never give a blanket clearance that the bank can release the payments based on the certification/requests from the builder/promoter.
08) All payments by the purchaser should by cheque payments and with proper receipts in stamped paper obtained. There should a clear agreements for the land sale and as well as for construction. One should go through these documents very carefully and get the doubts cleared or ask for modifications, even though the builder may say it is their standard form which have been accepted by others.
09) Please do not forget, today it is the Purchaser's day and not the Builder's day in a declining market.
10) Last but not the least, try to postpone your RE purchase for atleast another 12 months time unless it is your urgent personal use to go in for your dream flat in a locality best suited for your and your family's over all conveniences.
- Asvini or Bharani.
No builder will complete the project now in time.CommentQuote0Flag
- Originally Posted by Nataraajg007Asvini or Bharani.
No ( most ) builder(s) will ( not) complete the project now in time.
Many a times you spell the truth, hard for any one to dispute.
- Asvini amarisha
anyone purchased the flat in asvini amarisha, ramapuram.
tell something real about this project..like price and locationCommentQuote0Flag