1.
Is the TITLE of land clear ?
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Projects promoted by Modi Properties
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Other Builders
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What should you do?
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| The land is registered in the name of the company. Link documents of 30+ years are available upon request. |
Most Builders generally operate on a series of GPA’s or development
agreements involving several parties unknown to the Buyer. The title of
the land is compromised to save registration charges. Buyer suffers in
case of dispute between Builder and Original Owner. Sometimes the title
itself is in dispute.
Even lands auctioned by the Govt. are at times litigated. |
Insist
for a copy of title documents, link documents, development agreements
& GPA’s (if any), tax receipts, etc. Ensure that link documents are
available for atleast 20 years.
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2. (a)Are the necessary APPROVALS obtained?
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Other Builders
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What should you do?
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| Bookings
for projects are not opened until all necessary approvals are obtained
from GHMC/HMDA. Approved plans are available for inspection upon
request. |
Most
local builders have no sanction. The so called ‘Grampanchayat’
approvals are not valid as Grampanchayats have no authority to grant
approvals. Such constructions are absolutely illegal.
Several organized sector builders start bookings before receipt of
approvals. Such approvals may be delayed for years or plans may be
changed to meet building bye-laws. Project may be indefinitely delayed
and sometimes may never come up. |
Insist
on seeing & understanding the approved plans from HMDA/GHMC before
paying the booking amount. Stay away from ‘Grampanchayat’ approved
projects. |
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2.(b ) Is the construction as per the APPROVED PLANS of HMDA/GHMC?
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Projects promoted by Modi Properties
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Other Builders
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What should you do?
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| Projects of Modi Properties are being built exactly as per sanction plan – no more, no less. No illegal constructions are made. |
Most
Local Builders generally deviate by about 30 to 70% from the sanction
plan to reduce the cost per sft of constructed area. Deviation is made
by addition of extra floors, covering the parking area and building
extra area on each floor.
Most organized sector builders also deviate from the approved plans. The
Buyer ends up buying illegal construction, which is subject to
demolition or penalty on a later date |
Make sure that there is no more construction than mentioned in the approved plans. Avoid projects with deviations |
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3. What is the QUALITY of material, equipment & manpower used for construction?
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Projects promoted by Modi Properties
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Other Builders
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What should you do?
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| Projects of Modi Properties are built to the highest standards of quality.
Materials used are of well known brands with ISI certification. Quality
is enforced by qualified engineers at site. An idependent Quality
Control Team cross checks and certifies quality at several different
stages. Good quality construction ensures long life of the building. |
Most
Local Builders use substandard material from local unregistered
suppliers, without any supervision, thereby severely compromising the
quality of construction. This saves cost for the Builder but in the long
run proves very costly for the Buyer. Problems like water leakage,
cracked walls, short circuit, etc. are very common. |
Spot-check the quality of materials used. Insist on meeting the site engineers/ supervisors & check their qualifications. |
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4.
Will the flats /villas be COMPLETED on time?
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Projects promoted by Modi Properties
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Other Builders
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What should you do?
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| The
delivery dates of flats/villas are clearly mentioned in our brochure,
website and all agreements. Till date we have a near 100% track record
of on time completion across all our projects. |
On time completion is almost unheard off in the twin cities. Most projects are delayed by months if not by years.
Large projects and Govt. sponsored projects are in most cases delayed by years.. |
Insist on a written commitment for the date of completion. |
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5. Will the COMMON AMENITIES be provided?
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Projects promoted by Modi Properties
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Other Builders
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What should you do?
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| In most
projects of Modi Properties infrastructure work for the common
amenities like roads, drains, power supply, water, etc., is completed
within the first year of construction. Other amenities like clubhouse,
parks, etc., are generally completed within 18 to 24 months from start
of construction, i.e., well before the entire project is completed. |
Most
Local Builders do not provide even the basic amenities like drainage,
paved roads, lighting, etc. as required by law. Even those that are
provided are delayed by months after handing over possession.
In several large projects some amenities promised remain
only on paper and are never provided. Commitments to develop 5 star
hotels, lake fronts, malls, etc., in large projects are almost never
kept. Be wary of such promises. |
Make
sure that the work on the common amenities is under taken along with the
rest of the construction. Insist on list of amenities being provided in
writing along with time frame of construction. |
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6. What is the WRITTEN PROOF of allotment, payment terms & payments made?
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Projects promoted by Modi Properties
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Other Builders
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What should you do?
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payment of the first installment a Sale Agreement is executed in the
buyers favour clearly stating their rights & obligations. A ‘Pakka’
receipt is issued for every payment made.
Formats of all agreements and deeds are available on our
website. |
Most
Local Builders avoid agreements & written commitments. Loose
receipts are given. The Buyer is at the mercy of the Builder, as he has
no proof of allotment or of payments made.
Several organized builders confirm allotment or enter
into an agreement only on payment of substantial amounts. Till such time
the buyer does not have any rights. |
Insist on a sale agreement and receipts for each payment made. |
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7. What is the Builder’s TRACK RECORD?
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Other Builders
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What should you do?
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| Modi Properties are in the field for over 4 decades with over a dozen projects to their credit. |
Most
Builders are 1 or 2 project wonders! Beware of such Builders (even if
close friends or relatives recommend them). Most such projects end up in
a mess.
Several large constructions are being promoted by
builders having no experience of executing such large projects. |
Buy only from Builders who have an experience & track record of atleast 5 years.
For large projects check the builders experience and capability to execute it. |
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8. Are there any other HIDDEN COSTS?
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Projects promoted by Modi Properties
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Other Builders
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What should you do?
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| There are no Hidden Costs. All costs are mentioned up front. |
Hidden
Costs like amenity charges, water & electricity charges, incidental
expenses for registration, charges for escalation in cost of building
materials, etc. are invariably added later. |
Make sure that all costs are declared upfront and given to you in writing by the Builder. |
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9.
How will adequate WATER SUPPLY be ensured?
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Projects promoted by Modi Properties
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Other Builders
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What should you do?
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effort will be made to conserve water by implementing rainwater
harvesting, recycling water for gardening, etc. A separate bore well
water & drinking water connection will be provided to each unit. |
In
most buildings borewells regularly run dry. Adequate Municipal water is
rarely provided. Most Builders leave it to the society to deal with the
water problem. No prior planning is done to tackle the water problem. |
Make
sure that the application for municipal water connection is made well
in advance. Ensure that rainwater harvesting is implemented. |
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10. Who will MAINTAIN the common amenities & at what cost?
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Projects promoted by Modi Properties
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Other Builders
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What should you do?
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professional maintenance setup with a supervisor, security, electrician,
plumber, sweepers, gardeners, lift-men etc. will be provided to the
Owners Association (a non profit organization). Maintenance Charges have
been fixed at reasonable rates. The Owners Association will be managed
by duly elected members. Modi Properties continues to provide service to
its customers in all its projects even after several years of
completing the project.
The clubhouse is for the exclusive use of the residents of the project
free of cost. |
Most
Builders collect maintenance charges but do not provide any service.
Without regular maintenance the building depreciates very quickly.
In some cases corpus fund collected is used by the builder as working
capital. At times maintenance becomes a profit centre for the builder.
In several large projects the Clubhouse is owned by the builder and
residents are charged commercial rates for its use. |
Check with Builder about maintenance setup & maintenance charges.
Check about the ownership and exclusive use of the club house. |
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Paramount Avenue
