Jul 17

Supreme Court gives friendly advice to property buyers

Here is a warning right from the Supreme Court for home owners. People get attracted to the flats and houses offered by real estate builders, more so when they are offered by reputed and large builders. At the same time, the terms and conditions of the deals offered by these builders can be complex, and not easily understood by normal buyers. For example, the builder may offer a deal whereby there is a penalty clause if the handover of the property is delayed, but most consumers that I have talked to are hesitant to call up the builder on this, In many cases, they are worried that either the builder will rush through things, or maybe handover the property when everything around the property including facilities are incomplete. Hence the warning by the Supreme Court:

The Supreme Court has cautioned prospective flat buyers to look for the devil in the fine-print of documents before signing a contract with builders, who generally promise speedy construction, timely delivery and little or no escalation in price.

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