Everybody shares their own story while buying a house. There are always arguments with respect to building your own house as against buying a flat. The second option always win's when the argument revolves around how much tension you would have to go through for sanctions and other things when you are building your own house. Well i learnt the hard way that buying a flat is not tension free either these days.
I bought a decent flat (Renaissance Brindavan) in a decent locality(Padmanabhnagar) from a decent builder (Renaissance). Hoping to get an accommodation by at least March 2006. Currently it is June 2006. The promise is that it will get completed in July end, But even the site engineers accept that that's not possible. The delay is not really the worry as much as the fact that it comes with so much tension.
During these last couple of months, i witnessed how shadily the way these developers work, holding us (literally) on ransom to deliver our flats. RHDPL is supposedly a reputed firm having all sorts of approvals. They just force you to sign the sale deed, which happens to be different from the build agreement that we signed earlier. They add more clauses to the deed to reduce interest of the owners, and have their own financial gains. They even strip us of our right to defend our rights in the deed. Everything is planned so beautifully, that people inspite of the glaring fraud are forced to sign it. The project is delayed by considerable amount so that the flat owners get restless and their financial burden increases. The copy of the sale deed is shown just a day or two before the flat owners are supposed to sign it. They can't even get their lawyers to read it if they want a legal opinion. And if objected, are threatened that the registration process will get delayed. Most of us succumb to the threat and give in.
The whole situation is so laughable. These guys are just whipping us and we can hardly do anything about it. The boom in the real estate industry, and the high demand for it has just left the common man to the mercy of these new age don's. The way their legal documents are designed, just leaves them with zero liability and we can't even question them. If we try, the answer come's, "you don't want to buy it ? don't buy. I have hundred's of people coming in everyday. I can sell it to someone else at a higher price".
I would try and list down specific instances in subsequent postings as and when i have time and am able to pen them down.