Now
a day many of the people are facing problem fraud case in Real Estate sector
while Buying a Property in Mumbai.
Here
I will explain the factor like false promises, tittle fraud and deviation from
approved plan while getting a House for Sale where people are
facing problem.
To
avoid such fraud we should have some knowledge so that we can also help other
by sharing such things.
False Promises by the Promoter
While each and every people are focusing on real estate, Builders are
getting much profit in the initial phase where the buyer is looking for Buying
a House. Showing many advertisements with false
promise where people are facing such cases in Mumbai.
Normally Builder doesn’t share the booking form with the buyer before receipt of booking amount. So that in case the buyer found any fraud case while taking a House for Sale and denied not to Buy the property but he has to give 10%-20% of amount from the Booking money.
Developer Tittle Fraud
The tittle fraud take place with both individual and property developer, they did such scam by making of duplicate tittle deeds of unused or dispute project and sold to the Buyer those who are looking for Plot, House or Flat for Sale
This fraud is happen when the buyers purchase their dream House or Flat then after some time they will come to know that this project does not
include that part of land the builder had specified before.
Deliberate Delays
Project delays and disappear of builders or property developer is the common occurrence in real estate sector. One strategy builders resort delay on the project completion for flat or House for Sale.
In this time they divert the money from one project to another by delaying both projects in the process. Many new and property developer left this trail with the buyers who have just purchase agreements to show.
Deviation from Approved Plan
The projects when completed after then several deviations take place from the approved plan in terms of common areas. This possesses a huge fraud for many buyers those who buying House for Sale they have to compromise on common amenities, spaces, luxuries and even on core project.
However, in case the deviation case more than the permissible limits, the project faces difficulty in obtaining the occupancy or the completion certificate.
Moreover, in case the deviation has not been approved by the development authority, the developer is under a constant threat with regards to the demolition of the property.
Where we will get such Property?
As I hope that each and every type of scam I have explained so be aware of this type of fraud. And help other to be much aware on this scam happening on the real estate sector.
For all these Cifiyah is the way where they found Individual House, Flat, Plot
where only genuine user make post their ads regarding Flat, Commercial
Land, Office house and House for Sale.
