Due to the slowdown in Real Estate Market, Project Delay is very common these days. Completing a project on time is a big achievement. I saw one of the builders in Pune advertising heavily that he completed one of the projects on time. Project delay has huge financial implication for the buyer both in terms of Home Loan Interest Outflow and Opportunity Loss. Opportunity loss is potential rent received/saved in case of let out/self-occupation of a property. On an average, a project delay may cost you Rs 25,000 per month. In my post, Why Under Construction Projects get Delayed? i highlighted the ... Read More
11 Questions You Should Ask Builder
Its an irony that we don't pose relevant questions to builder while buying a property. A typical trait is that we spend more time probing and bargaining for low value items than big ticket purchase like a house. In a recent behavioral study, it was concluded that we probe and bargain most while buying from roadside stalls. Nothing new in this as i have never seen people bargaining in malls. This study holds true for property purchase from builders. A buyer is afraid of asking too many queries from builder. If i suggest my clients to ask few imp questions from builder, Builder has standard ... Read More
Buying a Property from Landowners Share
At the time of property purchase, many people are not aware that flat they are buying is from landowners share. Recently one of my client came to know only on the day of property registration that his flat was landowners share. Builder kept him in the dark. He was shocked but didn't have any choice but to go ahead with the registration. Though its a complex topic and each case is different from another. I thought of writing a separate post on same. Majority of the under construction property disputes are between Builder and the landowners. One of the most common reason for dispute is ... Read More