Property disputes are one of the most challenging issues to be resolved in India. Over and over, we heard about land and property disputes in news channels and newspapers. Initially, real estate sector was not organized, and local broker completed most of the ownership transaction, most of the disputes revolve around the property and illegal possession of lands. In the meantime, when real estate developers organized and started the legal documentation, the buyers gets more relaxed. Soon the developers started the monopoly in the market, and they forbid consumer’s interest. Over last decades, some of the burning disputes with the developers were delaying possession, Misinterpretation of facts, brokerage, and frauds. However, before you strike to a real estate deal, make sure you clarify points.
Get complete information: half knowledge is always dangerous, ensure you get complete information about a rental property. There were many instances in past when a developer hides property information like floor size, carpet area, super built area. The actual representation of property in the browser may differ from the actual flat, if possible, check the sample apartment.
Brokerage: Ensure the source of the ownership; are you dealing with the brokers? Or are you directly contacting the landowners? Whosoever is reached to you, make sure you enquired about the brokerage details. Pre-decided brokerage rates do not create unnecessary arguments in future.
Fraud: there are many instances when buyers get into the fraudulent transaction of real estate but now as real estate business is organized, the instances are less now. However, to ensure the fair deal, do some backgrounds check of the developers; verify if he is giving you lucrative offers.
Possession details: There are many direct and indirect factors that effects possessions of the apartment. A construction work entirely depends on the builder’s intentions, but other unintentional factors such as environmental factors, government clearance, strikes, budgeting are external factors that delay the possessions of units. A buyer never enquiries about all government and state government permission, but it is one of the most crucial information to ask for.
