Real estate business - Fraud by developers, what should buyers do
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Complaint by: Ramesh Mehta on October 9, 2017, 4:22 pm in Real Estate

I am planning to buy a house in Noida for my own use. I request you all can you please guide me what all should I consider as I am afraid of any fraud by the developer. I don't want any issue to arise after the purchase. Please help me.

Complainant's Goal: safeguard buyers' interest
Complainant's Target: Real estate business
Complaint Location: India

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Recent Comments
Wed, 11 Oct 2017  Apurva Shah

No builder can escape with buyers money. They will have to come back. I am really thankful to the government that they have finally started protecting buyers interest. Be it Amrapali or Supertech or Jaypee or AN Buildwell, they have to payback. Its no more the case where they used to fool the customers. The law and the government is with us now.

Wed, 11 Oct 2017  Rishi Vyas Panda

Hold on. Can the same thing happen with AN Buildwell buyers as well. Will the court direct the developer to pay its buyers first! An Buildwell has already filed for liquidation which the court has stayed. I hope the same thing happen here as well. We all are completely frustrated with AN Buildwell.

Tue, 10 Oct 2017  Anjali Kothari

Yes, there are many cases arising out of Gurgaon and Noida. I think government has started tightening the noose. This is the impact of RERA. Now buyers have more powers. Developers will now think twice before defaulting. Look at what happened with Jaypee and Amrapali. They cannot leave the customers in the middle. Even court has asked them to pay the buyers first.

Tue, 10 Oct 2017  Kamal Vasa

Consumer courts should always be the last option, in my opinion. Try to talk to the developer. See, the objective is to get the flat, if you have invested for your own use. If you are an investor then the world is different for you. So try to establish conversation with the developer. Find out the reasons for the delay. My point is, you should always do your homework first. Even if you finally go to the consumer court, these homework come handy in building the case against them.

Tue, 10 Oct 2017  Bharti Singh

There are many cases going around in Noida and Gurgaon. Everywhere big developers have defaulted and now they are not repaying their customers. They simply challenges the buyers to go to consumer courts. What they should do.

Tue, 10 Oct 2017  Apurva Shah

Ok, I think you didnot get my point. Developer here means the party with whom you are signing the sale deed. He cannot be the dealer, neither the marketer of the project. He has to be the developer in whose name the company is registered. He has to be the one who is responsible for development of the project. He has to be the one who would be liable for any kind of legal terms and conditions.

Tue, 10 Oct 2017  Mahesh Vora

Thanks for the help. But just one question. Why a developer will answer to me. There are so many layers between a buyer and a developer. We get stuck till the marketers only. How to reach the developer?

Tue, 10 Oct 2017  Apurva Shah

Never. Moreover, he will not be answerable to you once the deal is done. Always remember, it is the actual developer who remains answerable to you for any issue arising out of the project. Always talk to the developer directly. Also, talk to other people as well and ask about the project, check for construction updates etc.

Tue, 10 Oct 2017  Sidharth Jain

Hi everyone,

I am about to book a 2BHK unit in Gurgaon. But I have only dealt with the dealer till now and he has denied for any litigation related to the project. Should I believe him!

Mon, 09 Oct 2017  Apurva Shah

Hi everyone,

I booked a 2 BHK flat in Amrapali's Dream Valley project in Greater Noida in 2013. It has been 4 years and we are still waiting for our dream home. I was fool as I believed on Amrapali's reputation. I did not inquire about the construction status, the litigation and other issues around the project. I even did not consult the people who had already booked flats in Dream Valley. Never trust a developer. Always do as much inquiry as you can. In real estate, precaution is the only cure.

Mon, 09 Oct 2017  Mohan Bhargav

Good that you are taking precaution. It becomes very difficult to fight with the developers. No one helps once the deal is done. You are left with just a piece of paper which are mostly one sided. Has anyone faced such a problem. Please share your experience.