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Get your copy of Hindustan Times (26-Apr) - Special Edition of HT Estates on Protecting Home Buyers

Postby dheerajjain » Sat Apr 26, 2014 8:11 am

Get your copy of Hndustan Times today (26-Apr). Special Edition of HT Estates this time focuses on Protecting Home Buyers. There is an article by Tulinder Katoch also who is Present of Piyush Heights Apartment Allottee Sociey (PHAAS) and Federation executive member focusing on Faridabad
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Re: Get your copy of Hndustan Times (26-Apr) - Special Edition of HT Estates on Protecting Home Buyers

Postby dheerajjain » Sat Apr 26, 2014 4:00 pm

Please go through attached Excellent Article in HT Estates today (Protecting Home Buyers Special Edition). Article is Developing Project - The Right Way which tracks project in 4 phases from Initiation to Handover.
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Re: Get your copy of Hndustan Times (26-Apr) - Special Edition of HT Estates on Protecting Home Buyers

Postby dheerajjain » Sat Apr 26, 2014 4:05 pm

Here is Tulinder Katoch Article (President, PHAAS)

I bought a 2BHK apartment in a private developer’s project in Faridabad in 2006. Our case is about the builder conniving with the development authority, police and other government agencies to flout rules and cheat homebuyers.

The builder has delayed the whole project by more than five years, and, even today, there is no guarantee that we will ultimately get our flats. The builder has overcharged EDC (external development charge) illegally - about ` 70,000 to ` 90,000 from each buyer.

The builder has also cheated a majority of the buyers by increasing the super area without giving us reasons for doing so. He has taken ` 2 lakh to ` 2.5 lakh from each homebuyer at the pretext of providing more area in the apartment. He is not giving us the reasons as to why he is taking money from us time and again. Tired of his tactics, we decided to form an association of allottees and fight our own battle.

Besides lodging a case against the developer, we have also taken the responsibility to educate homebuyers about fraudulent practises in real estate. Due to our efforts, today investors are staying away from investing in many developers’ projects.
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