Yes they make promises but do they
do what they say? Do they fulfil their commitments? The answer to these
questions, most often, is a ‘no’. The Indian Real Estate raises
the thorny question of unscrupulous builders who do not live up to the
promises that they make to the customers and become a hindrance in the
path of success of the industry.
We shall now take a look at some
of the common problems that are faced by real estate buyers, and the
way, certain builders create the wrong image in the minds of potential
customers all around the nation. The aim is not to scare away investors
and buyers, but to make people cautious so they can avoid getting duped.
- There are hidden clauses or points on the offered documents and even though the people from the corporate office may sit people down to explain the contract document, they generally do not get into specifics of such intricate points.
- Specifications of the built up area and the carpet area are one of the most common complaints of buyers against builders. Buyers are often misled by some builders regarding the money that they need to pay for the area that they are investing in. One needs to check and measure the area and make sure, that they are paying for the carpet area only and the rest needs to be specified separately under separate terms and conditions.
- People invest and book a flat or a house, with a certain monetary budget and plan, which is totally wrecked by such hidden costs. Thus customers are frustrated and tired of the builders who inevitably have hidden costs to offer with any transactions you make with them. There are many builders, who incorporate hidden costs in areas that would not be easily detected by the common man’s eyes.
- Several construction and housing projects fail on the parameter of authenticity. There are several bogus properties which lure investors and people with several promotional tactics. Often we hear of cases where buyers found to their detriment that construction has been stopped since the builder lack proper permission. Therefore, commencement certificate and its verification is a must to ensure that the building construction is authentic and under the legal specifications that are laid down by the local legal authorities.
- There are so many tales of buyers finding cheap local made fittings in bathrooms instead of branded quality promised initially. Often builders promise a plethora of amenities like swimming pool, gym and so on to attract buyers but these never really materialize.
Yet not all hope is lost. There are
professional and truthful builders in the realty space. The one’s
who desire to make huge profits and earn more money than ever estimated
are the ones who often fall back upon these corrupt means and methods. And Cosmic Structures is proud
to be one of the professionals in the lead of the truthful and trusted
builders in the market ever since its inception.
A buyer needs to be aware and careful
at all times in order to stay safe from such damages. Forewarned is
forearmed. We hope this article helps you to reject unknown builders
in favour of a more well known and reputed ones.
