Sort by :
Filter by :
- dear rashmi,
your posting shows your deep knowledge of property trend all over india. i as a lawyer dont see this trend to be healthy. i am from delhi and for delhi crowd, gurgaon is happening. but problems like, water, electricity, sewerage, crimes is rampant. if the progress is to be looked from a builder's view, its progressing. from a common man's point of view, he is being trapped after being lured by full page advertisements in dailies.
Member Advocate-Delhi High CourtCommentQuote0Flag
- Look before you leap
Second homes top the Wish List of many urban dwellers.
Reasons vary from getting a hideout away from home and the hustle bustle of city life to the added prestige value of owning a second home
But before you put in your hard earned rupees in that dream second home, run a due diligence process on the entire exercise
Get familiar with the local laws and legislations where the project is located
Check for all permissions that allow the change of use from Agriculture to residential
Title Check would be paramount with fragmented land holding rampant in almost all semi urban and rural areas
Dont accept doucmentary evidences at face value. Get them verified for authentication, from the concerned issuances Authorties.
Many projects have been left in a limbo due to fraudulent papers being used by developers to hoodwink clients and vanish with the money
Also remember that unlike in cities, verification of legal documents in such locations are more time consuming and best done with a local lawyer.
Being penny wise here wont help.
Also check the local zoning maps and survey plans to determine the extent of development that the developer can do. He may promise you the moon, but later exit comfortably citing development rules. At that point of time you would not have a smooth sailing making him enforce his commitments.
Look for approvals of sanctioned layouts from housing finance companies. That can surely give you some comfort level.
The Devil is in the fine print : Go through all clauses in the agreement and dont go ahead with the deal if some adverse clauses exist. Developers are known to insert more clauses that are favorable to them and leave property purchasers at their mercy. Dont give in to such agreements and insist that such clauses are deleted. Always insist a time date for possesion and a penalty clause in case possesion is delayed. Consumer courts rely only on registered agreements while hearing cases of delayed possesion and awarding penalties as stipulated in them.
It is well worth the addtional efforts you make to ensure that your hard earned money is in the right hands and your dream home doesnt seem like a Mirage.CommentQuote0Flag