The Brave Pedestrian

  Flat buyers in India typically have a one-sided relationship with the builder. The flat purchaser is tied to the agreement or contract, whereas the builder is usually free. to break the agreement at any point of time. The flat-buyer stands to lose token amount, which is 10% of the consideration value. The builder stands to lose almost nothing if the contracts breaks, and he stands to gain the 10% of the consideration value by doing nothing. The flat-buyer is tied by the 10 percent token that he pays, but the builder is not tied. The entire relationship is at the builder's discretion, will and convenience. Why are flat-buyers entering such one-sided relationships? ISSUED IN PUBLIC INTEREST BY Krishnaraj Rao 9821588114 and 8169471229 krish.kkphoto@gmail.com Mumbai

  There is no semblance of parity in the contract between builders and buyers in the Indian property market. The transaction between builders and buyers is biased heavily in favour of builders, laying the grounds for exploitation at every step. ISSUED IN PUBLIC INTEREST BY Krishnaraj Rao 9821588114 and 8169471229

18th June, 2019, Mumbai: Many flat-buyers of Lodha Group's various projects -- especially Palava City, New Cuffe Parade and World Towers -- want a refund. They want to cancel their deal, and get their money back with interest. The usual reasons are: (1) build quality issues (2) delayed possession (3) carpet area deficiency (4) unfair trade practices (5) unauthorized or improperly authorized construction (6) mis-selling and false promises. But getting money back from Lodha is difficult. The terms and conditions mentioned in the application form, allotment letter and agreement form make it clear that Lodha will retain 10% of the consideration amount, and make a lot of other deductions too. So, how to get back your refund without losing a lot of money? Well, friends, here is something you can try. There is a big loophole in Lodha's agreement format for various projects. It is a clause designed by Lodha's lawyers to trap customers, but this same clause can be used by ...

Mumbai, 24 October, 2016 : Ekta Group of builders cheats and bullies its customers – no two ways about it. Don't be fooled by clever PR campaigns , paid media, beautiful website , and estate agents. Don't get taken in by endorsements of reputed corporates like HDFC Realty , HDFC Red , or mentions in Magic Bricks Now . Don't get fooled by Anil Kapoor's endorsement and MCHI-Credai Awards for Customer Responsiveness . That's all smokescreen. The ground-reality is that Ekta Group, also known as Ekta World, is shamelessly unreliable. Booking a flat in an Ekta project means giving lakhs of rupees with no safeguards and no legal entitlements. Even when the flat-agreement is registered, it is an unfair, one-sided agreement that make you lose all your rights as a flat purchaser. Ekta builder's overall strategy is to make the buyer helpless. As they say in market language, "Builder ko haath kaatke de dene jaisa hai" -- like cutting off your hands and giving...

Mumbai, 30 June 2016: Hundreds of savvy and well-educated flat buyers have purchased "luxurious" flats in RNA Exotica without noticing what their sale-purchase agreements clearly says: that RNA Exotica is actually a large and shabby slum rehabilitation scheme with a tiny island of rich flat-buyers. The rich people's housing project is married and tied to the rehab component in the same undivided compound -- a marriage made in hell! Not just RNA Exotica's sale-purchase agreement, but also project layouts and plans presented to MOEF, give a birds-eye-view of this nightmarish neighbourhood. With clever advertizing, a tight-lipped sales staff, and several clauses in the sale-purchase agreements that forbid investors from asking the right questions , RNA Corp has been consistently misleading its investors for many years. A prospective home-buyer never gets to read the true facts before he is inside the builder's trap! So let us take a close look at all the ugly...

1st May, 2015, Mumbai: Many strangers call me every week from different parts of Mumbai, Navi Mumbai, Thane etc., tell me how their society is being herded by some builder towards redevelopment, and take some free advice about how to proceed further in their battle. Everywhere, the same story is being acted out: builders have pocketed the office-bearers by giving them inducements, and with their active cooperation, are in the process of seizing control of the entire property. Some general body members act like stooges of the office-bearers, and shout down the persons who ask questions at society meetings. But the bulk of general body members are like sheep being herded to the slaughterhouse; they are deeply worried, but they are afraid to take a stand at any given point of time. Every week, Maharashtra's cooperation department receives a dozen complaint letters from aggrieved society members, pleading for action against the office-bearers and the builders, who are subverting the...