Consumer Grievances in Real Estate - Solutions

Dear Friends,

Below is a summary of solutions needed as identified by you to reduce Consumer Grievances in the Real Estate sector.

Kindly review them and comment if anything is missing.

We will now compile the whitepaper for submission to the relevance Government and Consumer authorities for actions.

Thanks for your participation!
Rajendra Pratap Gupta

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Consumer Grievances in Real Estate – Solutions

1. A governing authority in the construction sector is the need of the hour (like TRAI in the telecom sector).
2. Heavier penalty should be levied if the builder fails in his commitments towards delivery.
3. There should be mandatory penalty for poor quality construction or false promises
4. There should be uniform sale purchase agreement for all the states across the country
5. The municipal authorities must help to teach investors the requirements of documents
6. There should be strict laws to regulate the acquiring of Land for construction
7. No agricultural land - used or unused should not be let out for constructions
8. A forum or think tank to assist the buyers regarding valuation and legal formalities should be formed
9. There should be a government organization or regulatory committee to fix the land value in each area
10. All transactions should be made mandatory through cheques only
11. Cement & steel manufacturers cartelisation should be broken through some law amendments
12. Research should be focused to find an alternative & greener options of raw materials to sandstone aggregates etc. with affordability
13. Approval by government for building commercial or residential complexes must be given only when there are appropriate roads, space for parking available for the complex
14. The criminals involved in cheating the people in Real Estate cases should be severely punished and all their wealth should be confiscated
15. Home loans should be made available at low interest rates more  

View all 31 comments Below 31 comments
Lot of builders construct apartment in the cremation land or in the lake land illegally with out disclosing this to buyers. The buyers suffer after buying the flat without knowing the background of the land/property. It's good to make the details of history of land owners/property details available online for public to go through the history of the property ownership before purchasing any property. This also helps in avoiding few cheaters selling single property to multiple persons.. more  
NAMASTHE JI TIME I AM INPUT THE MESSAGE JI VERY BIG VALUABLE SUGGESTION
GIVE JI

On Sat, Sep 20, 2014 at 1:15 PM, Rajendra Pratap Gupta <
support@localcirclesmail.com> wrote:

> more  
One of the Builder in Chennai has promised to deliver the building in 18 months. I booked it in the month of May 2013 and till now builder has not started the building. more  
1)Need of the hour in reality sector is vertical growth with best of
environmental friendly designs, saving water and electricity, using
earthquake resistant drawings, foreseeing disaster management before
planning a new area. 2)Townships having facility of health education
banking ,and jurisprudence legal machinery in right direction , in addition
to market for all products must be visualized for 100 years next. The
infrastructure planned should also cover the villages coming with
population of 25-50 kms radius being in the periphery of the township.
Both villages shall grow by sending /selling agricultural products, using
the facilities of township without disturbing their agriculture and the
optimum use of infrastructure provided in the township shall be used by the
villagers also.
3) Like cibal data in banking a data featuring the credibility of the
Realtor be also framed under government rules uploaded on website
4) Demand supply of residential townships should be planned , in case of
congestion , the facility which is occupying the maximum infrastructural
assets of the city /town should be planned to be ousted from the original
place.for example if a university /or a hospital within the heart of city
is choking all the infrastructure of the city, then that institute must be
taken outside from the city with a planning of not less than 100 years.

On Sat, Sep 20, 2014 at 1:15 PM, Rajendra Pratap Gupta <
support@localcirclesmail.com> wrote:

> more  
1. Builder Buyer Agreements to be prepared in a manner where the builder does not get all benefits and all risks come to the buyer
2. The quantum of penalty for delayed payment should be same to what the builder would pay if he delays the project
3. Clearance for construction should be given only after all clearances from NGT, Local authority, water supply tie-up, power supply tie-up, etc. are obtained
4. Banks should perform their due-diligence properly and not extend loans for projects where any of the above mentioned clearances are not available
5. Concept of soft-launch of projects should be discouraged as it only enables brokers and other speculators to block flats in bulk and then sell in premium more  
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