I never imagined a real estate company like BPTP will adapt unfair trade practice. A buyer approached with the documents and it was really shocking to see those document and hence thought of sharing with the members.
An agreement as per their format was submitted by the buyer for a buyer seller agreement to be executed. While the buyer was following with BPTP for a signed copy of the agreement, one day she was shocked to get a letter from the company stating that the agreement has been lost by them. While other papers (which were part of the agreement) were available with them, it was suspicious how come an agreement can be lost. She was given a new set to be signed by the buyer. When both formats were compared there were lot of clauses being removed or replaced to the advantage of BPTP and it was a complete materialistic change. One of the condition was downgrading the penalty clause for non-delivery of flats in time.
The shocking part was the company was attempting to get a new format signed silently without even informing the buyer about the changes.
I am trying to get a satisfactory redressal as number of communications have already been exchanged and at least brought this case to such a level that the case become fit in the consumer forum or any other legal agencies. However before proceeding further, I still believe that the case be resolved by the company without approaching for legal remedies. Meanwhile I thought other perspective buyers to take care as this also happens in India. more
An agreement as per their format was submitted by the buyer for a buyer seller agreement to be executed. While the buyer was following with BPTP for a signed copy of the agreement, one day she was shocked to get a letter from the company stating that the agreement has been lost by them. While other papers (which were part of the agreement) were available with them, it was suspicious how come an agreement can be lost. She was given a new set to be signed by the buyer. When both formats were compared there were lot of clauses being removed or replaced to the advantage of BPTP and it was a complete materialistic change. One of the condition was downgrading the penalty clause for non-delivery of flats in time.
The shocking part was the company was attempting to get a new format signed silently without even informing the buyer about the changes.
I am trying to get a satisfactory redressal as number of communications have already been exchanged and at least brought this case to such a level that the case become fit in the consumer forum or any other legal agencies. However before proceeding further, I still believe that the case be resolved by the company without approaching for legal remedies. Meanwhile I thought other perspective buyers to take care as this also happens in India. more
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Unfortunately the poor investors are far from getting any justice. As far as consumer fora are concerned, it is a fact that it is the cheapest mode of getting relief but the main question comes fighting against real estate as it is still the money game. One need to be vigilant and share the experiences on the public domains so that others also get vigilant. The real estate business is still without any regulator. We expect some changes in the industry once the regulator is in place. more
May 20
Thank you Virmaniji, for bringing out the facts which is applicable in case of majority of the builders. Can somebody bring out the remedial action availale to the poor investors. more
May 20
majority of builders in NCR are like this including the big names. I am really shocked that poor investor has no control to retaliate back or approach the concerned agency for seeking justice. Once they get the substantial funds from their customers we are at their mercy. There should be some very strict rules/ penalties for not abiding to the terms & conditions of the agreement & also for the delay in giving possession. more
Apr 27
I have faced similar problems with many builders especially with A N Buildwell (SpireTech / WTC) & ABW. more
Apr 27
