Safe to book UNDERCONSTRUCTION FLATS if builders share THIS INFO | Naredco Homethon PropertyExpo2023
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- čas přidán 28. 12. 2021
- What crucial information are the builders withholding from you, the flat-buyers? If all that information is given to you, enabling you to correctly understand what are the risk factors in the under-construction project, then it may become possible for you to at least CONSIDER buying in under-construction property. Now let us list out the various types of information you must have to understand what the risk-factors are.
ISSUED IN PUBLIC INTEREST BY
Krishnaraj Rao
9821588114 and 8169471229
krish.kkphoto@gmail.com
Twitter @BravePedestrian
Mumbai
#realestate #propertyexpo2023 #naredco #homethon #credai #credaipropertyshow #propertyinvestment #propertyexhibition #squareyards #sales #property
Moral of the above videos is entire system is corrupt. Utter Pain and shame.
Sir there is also a new segment by RERA called lapse projects, many builders are already blacklisted and by next year many more projects will be added, once the project is lapsed builder cant sell and get oc and stuff. So buyers are now legally duped and its just an escape room for developers.
Many builders just take sra or redevelopment project, sell flats, take loans on projects and sell the project again to 2nd builder. Builder is not invested in the project as they dont buy land and dont construct the property at all
My family and I were seeing HDIL seriously years back and we were to invest in their 2 projects. Luckily we only invested in their palghar project and not their suburb project, without taking any loans on the same. So we burn only our fingernails
Buyers pls get ready or secondary market flats, also think twice about the location before investing and if you are taking loan then just forget about it
Sir after watching so many of your advice video in so many recording, I must see you are very practical and so true.
U r the only source of information
would like to know your take on Vaibhav Laxmi developers in Vikhroli East.. thanks!
It’s True, never ever buy under construction property. Once you buy under construction property, you have to dance like a puppet.
not 100% true.. I got my flat possession almost on time.. had booked in 2014 and got possession in May 2019.. late by only a couple months..
@@cannotthinkofoneatth You sound like a 'liasoning architect' 😂
@@cannotthinkofoneatth If not 100% then 80% for sure.
@@cannotthinkofoneatth can u tell bulider name
@@nitinsawant7911 Runwal
Sir, tell me a simple example of such builder in India. Even Tata and Godrej do not do any such disclosure, forget about others. Hence the simple rule is do not get fooled by gimmicks and stay out if in doubt.
Wonderful video. Thanks
Thank u sir for awakening the people.
My salutes and respect to you sir. Apt advice to all the property buyers. Thank you. I work in this industry though...
Very good vedio on purchase of under construction flats.
The suggestion given in this vedio will make risk free purchase for buyers.
Thank you.
Dr. Laxmi Shanker
Kanpur
Sir its very easy to say but difficult for a simple flat buyer to accumulate the bg details. It would be very helpful if you can setup a team who can help a buyer with all these information prior to investing.
One who does not know these procedures should not even dream of buying a flat as investment
@@dspblacker Then what should one do keep on dreaming for their own home and let the prices increase. See one cannot ignore the risks while buying the fact but its impossible for someone to spend 10-15k on every builder information but if there is a team who guides a flat buyer before making any purchase and make them understand of any risk associated with the builder it will save so many flat buyers. Whether its a stocks or car there are so many platforms where one can go and check before buying so why not a single platform for the flats
@@vishal.choudhury You mentioned investing above
@@dspblacker flats and properties are appreciating asset so either ways its an investment vis a vis owning a flat for residential purpose.
@@vishal.choudhury nope, if you're planning to live there don't consider it as an investment as you will pay twice the flats amount to the bank over 20-25 years
Great sir 🙏🏿
Hi Sir,
Maine panvel me under-construction me flat liya tha. Stamp duty and 20 percent amount paid. We went into sale agreement just before COVID. It's been three year now and only plinth work is completed. Dec22 ko possession date thi.
Builder is saying rera extension mila hai which was jun23 and now further extended to dec23.
I requested for cancellation and now builder is saying 25 amount deduct hoga. I already paid stamp duty 85000 and to builder 342000
Total cost 1960000 tha flat ka.
I am helpless what to do.
I told builder on email I want my entire money back as agreement also says if possession is not made on due date then full money should be refunded along with interest but builder is saying rera se extension mila hai.
What should I do plz advise
Wah, great, the first time buyer will ask the builder to submit all and the builder will happily submit - aise nahi hota sirji
Nice information sir
This is just something you can say, if you try to implement this with any reputed builder, they will just ask you to find something else. Real life mein it is not practical for home buyers. Resale flats in metropolitan cities are always costly and under construction flats ka risk hai, no doubt but just payment schedule kuch saalo mein spread kiya hai to new home buyers per load nahi aata. I understand resale property ko buy karke on the spot rent per dalne per income generate hota hai magar that is purely investment purpose and most of us buy home for personal use. Ye terms and conditions builders kabhi follow nahi karte, by the time hum study karke bahar nikalenge, most of the flats would be booked and the prices would increase.
Is it safe to book under construction commercial project, where builder gives rent
Sir can you please make a video on ppf vs real estate
What about a property nearing possession in a few months where 80% construction is done and the flat is sort of ready?
Now I feel that the poor people who build Jhopad patti and live are better off.
Mr.Rao u have uploaded this video in which u have explained the circumstances under which the buyer may consider under construction projects for purchase of flats. Pll tell me the bank (name) which will agree to hold solely the developer responsible for repayment of advance made and the interest payable on it till possession ? Secondly which developer has adopted the policy of transparency whereby he gives a copy of all the documents filed with ROC and his latest financial statements copy with all schedules and notes duly audited to the prospective buyer? It will be helpful since u r whetting a number of projects. 🙏❤️
Sir ek navi Mumbai ka project hai 90 percent construction hua h aur rera uska 2024 dec me milega . Aur token amt dekr hame book krne bolrehe h to kya hame Lena chaiye.
Uska rera number aur agent number hai pr maharera website me search krege to no result batara hai.
Kya ye property Lena chaiye?
We invested in gift city project ...Now the builder is not responding ..Not completing the project ...What can be done
sir I'm buying a under-construction property in micl prime park daiser project.. is a good builder to buy a poperty
Would like to know about Regency Anantam Dombivali East Project and builder.
Is ready to move flat safe to purchase?
10:00 what are these two chamber of commerces?
is it good to invest in under construction project uk luxecity in kandivali east , anyone booked or any review ?
aap logo ki jaane bacha rahe ho..I dont think I would get this info from consultants or even lawyers even after paying them for it
Sir ji, Godrej, Bangalore , under construction k project mein invest kar sakte kya. 1 bhk, 2 bhk ya 3 bhk..
Kar sakte hain ,it's a good builder but keep ur mind open
Is shapoorji parkwest Oak good?
Good advice to buy redy to move the better
Ready possession
If the project has litigation and builder is giving indemnity bond.... Should I buy this project???
Same question
I do not fully agree with your suggestion of not ever buying an under construction property. Even if we go for a ready possession one, there could be quite a few issues like:
1. Carpet area - this could be smaller than quoted as hardly anyone checks it
2. Construction quality - there are many flats where the sub standard construction quality becomes evident after a year or two, not immediately. In my rented flat, it started appearing 1 year after I started living, when the building was 6 years old.
3. Leakage and seepage - This starts to appear much later, after like two years/monsoons. In my rented flat, it started appearing 3 years after I started living, when the building was 8 years old. That's not a great age for any building.
4. Water supply issue - if the building is not fully occupied, then water availability is fine. Once more people start living will the problems start.
5. Electricity - load bearing issues once fully occupied
6. Common areas and amenities - they start degrading after two years or so, not immediately, especially flooding and leakages in basement and parking.
We can never live being risk averse, but try our best to mitigate it.
Thanks for highlighting some risks of buying ready-possession properties from builders. I often recommend to people that they should buy resale properties from actual users and investors, a few years after OC has been received. The initial years of a building are when a lot of hidden issues emerge -- such as leakage-seepage, basement flooding, water supply shortage, etc. etc.
I agree with you halfway: We do our best to understand risks and mitigate them. Booking flats in underconstruction projects are, IMHO, taking on a bunch of unnecessary risks without understanding any of those risks.
@@KrishnarajRaoUrbanNaxal I would like to know your take on the projects of Supreme Universal/Supreme Palatial. Are they better than most?
But you get a home at least. In under-construction, there's always a risk that you may end up with nothing.
Sir maine home loan trf kiya hai ICICI home finance to Tata housing me lekin Tata ne disbursement de diya hai lekin abhi tak disbursement cheque handover nahi kiya hai and EMI bhi start kar diya hai or Abhi previous loan jo ICICI home finance me hai wo close nahi hua hai mai kya karu kuch samjh nahi raha mujhe.. mujhe dono jagah EMI bharni pad rahi hai wo bhi same loan par
-मतलब data overlap हो रहा है। This is technical glitch.-
जवाब समझ में नही आया तो पूंछ सकते हो
@@Shyam-ku4kn maine hone loan transfer ke liye apply kiya hai. mera loan ICICI home finance me hai and maine Tata capital me home loan trf karne ke liye apply kiya and waha se sab process ho gaya hai even disbursement letter bhi aagaya hai lekin abhi tak cheque nahi mila hai jiske waje se mai ICICI me loan close nahi kar pa raha hu and ab dono banks mere se EMI collect kar rahe hai…
Kya without disbursement cheque diya koi bank ya NBFC hamse EMI charge kar sakte hai??
@@mahendrakanodiya1958 Tata capital se BT cheque leke apko icici loan branch jana padega tab jake icici ka loan close aur terminate hoga.
@@mahendrakanodiya1958 लोन ट्रांसफर मतलब ऑटोमैटिक सब कुछ नही होता । Transfer शब्द सिर्फ बोलते है जबकि हकिकत में आप एक जगह से पैसा लेकर दूसरे जगह खुद से देते हो ।
चेक दिया नही लेकिन issue तो हो चुका हैं ना, ये आप की जिम्मेदारी है की उसे TATA के ऑफिस से collect करिए ओर ICICI को दिजिए।
@@Shyam-ku4kn lekin wo log bol rahe hai ki hamara lawyer aaega apke sath cheque leke and old loan ko close karaega…
You are speaking in total negative and complex manner.
Bank को ही बोलो ना बिल्डिंग बना के बेचें 😀
Be careful of this COBRA guy
I think you are employee from Gupta builder
Be careful of ‘builder dalal’ like you
Thanks to him, builders can't fool buyers 🤣 seems you are one of the scam builder.
Chup be amrish builder ke dalle saale
Its not very difficult to list out what one must check b4 investing in under construction projects like current litigation details, past orders agst the firm, land title docs, how many flats sold till date with contact numbers of buyers, latest financial statements of developer, auditors remarks on the financial health, latest completed project list for past 5 years, buyer developer agreement draft, booking form T& C, possession Letter T & C draft, modifications developer will allow in above agrmts, List of external Amenities and completion date, internal amenities with exact brand and exact alternate brand to be included in registered agreement, details of major material used and their brands, time limit for completion with extension time beyond which interest to be applied, parity of interest rate for delay in both cases buyer as well as developer to be mentioned in regd. agreement. force majeure applicability for both buyer and seller, receipt of OC , authorised final plans , CC and copy to buyer before charging maintenance chgs to customer etc. There are more but list will become long. All the above you will agree are important to buyer ane not borne out of imagination.Tell me honestly how many developers wld share all the above documents and agree to modify ? Have u checked all above documents before you bought your self owned flat ?? If yes pl share the name of the developer. Can you suggest also 3 names of developers both big and small who wld comply at least 75% of what i have listed. Pl give a straight answer. I wld appreciate bcz it wld help me in the near future. U r doing a fine job of educating ppl like me about dos and donts . Pl dont ignore or remain silent like most Utubers. aI know u wont.