If you are
planning buy a house in under construction projects than avoid all under
construction projects. There are many things which can create trouble for you
if you book or buy a house in under construction projects.
What are the
reasons for which house buyers prefer to buy a house in under construction projects?
Must be the price.
But if I tell you the ready possession flat will be cheaper
than under construction projects.
Will you still
prefer under construction projects?
I think you
will not.
In a under
construction project a buyer has to pay service tax and VAT both includes
approx 4%. Instead of buying a house in under construction projects if you buy
a ready possession flat you do not have to pay service tax and VAT. So your
cost of buying will come down by 4%.
For
developing a residential project developer has to take many approvals and clearances from
government authority. Many times developer does not get all approvals. In such
cases projects get stuck in between or the possession will get delayed.
So
ultimately who suffers?
Only
property buyer no one else.
Once you
book your house through any developers and later on if you find any
difficulties with the project and you
decide to exit from it still you have to pay or you have to suffer. For
cancellation developer charge heavily and which ultimate creates burden for
you.
Cancellation fee can be vary between one lakh
to five lakh or some time they deduct the whole booking amount or advance money
as a penalty. Some time they do write about the deduction in booking form and
some time it’s hidden from you.
Mr. Vishwas
Bhujale booked a flat almost two years ago on eleventh floor Sunway building
Megapolis project Hinjewadi Pune. At the time of booking developer commit that
there will not be any construction or building facing to their flat or they can
enjoy openv garden view from the living room balcony. Mr. Vishwas Bhujale came
to the same place after two years to get the possession. When Mr Bhujale
entered in his own flat he saw that one fourteen storey building instead of
garden view.Megapolis is a township which is developed by
Kumar Properties and ABIL group.
The same
thing happens with Mr. Sameer who booked a flat at Echoing Greens Wakad Pune
This project is developed by Siddhivinayak group which is twenty five years old
developer in market. Mr. Sameer booked a flat on 4th floor B wing
Echoing Greens Wakad.
At the time of booking developer told to Sameer that
there will be a garden in front of the flat and a commercial building which
will not interrupt open view from your flat. But when he got the possession he
saw that there was a three storey commercial building in front of his flat.
From since
last more than two years flat owner at Mandke Armaan by Sudhir Mandke & Co.
are paying the interest of home loan but the construction work has stopped
since last more than one and half year. Because of the conflict between PMC and
Indian Air Force the construction work has stopped and nobody knows when it
will get start.
These are
just some of example of developer’s unfair practice. There would be hundred of
projects which have stuck or not able to give possession on time.
