Delhi NCR Flat Owners Resort to Out of Box Thinking to Protest against Errant Real Estate Builders
The Real Estate Builders in India are really having tough time luring new customers, may be due to real estate low time or may be due unethical practices like delay in timely possession, failure in providing agreed infrastructure and facilities by the builders. Forget the builder buyer agreements, these agreemenrs are only one sided. Because of one sided agreements favoring builders, they take complete benefit of the ignorance of innocent buyers and at the end customers feel cheated.
Real estate projects in India take a long time to complete due to a complicated and corrupt regulatory mechanism. It may be said that due to increasing costs of financing, real estate sector is collapsing in India however errant real estate builders are one of the reasons why this sector is collapsing. Buyers have lost faith in builders due to their malpractices. Due to thease reasons builders have failed big time in gaining trust and confidence of buyers as well as investors. Keeping the delay in possession factor aside, in many of the cases the real estate builders default even in providing various agreed facilities while handing over the apartments to their respective owners.
With the high number of cases against such errant builders piling up in various consumer forums and decisions coming out in favor of buyers, the time is not far ahead when builders will abide by prevailing laws. The proposed real estate bill 2015 is a major step against the builder lobby. Should help a great deal once it comes into effect. The aggrieved should go through the real estate bill and see what positive changes it is going to bring about.