Question
1
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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.
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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.
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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 at least 20
years.
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Question
2 (a)
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Are the necessary APPROVALS
obtained?
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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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Bookings for projects are not
opened until all necessary approvals are obtained from GHMC/HMDA. Approved
plans are available for inspection upon request.
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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.
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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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Question
2 (b)
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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.
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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
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Make sure that there is no more
construction than mentioned in the approved plans. Avoid projects with
deviations
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Question
3
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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.
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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.
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Spot-check the quality of
materials used. Insist on meeting the site engineers/ supervisors &
check their qualifications.
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Question
4
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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.
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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..
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Insist on a written commitment
for the date of completion.
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Question
5
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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.
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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.
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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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Question
6
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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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On 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.
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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.
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Insist on a sale agreement and
receipts for each payment made.
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Question
7
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What is the Builder’s TRACK
RECORD?
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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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Modi Properties are in the field
for over 4 decades with over a dozen projects to their credit.
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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.
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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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Question
8
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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.
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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.
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Make sure that all costs are
declared upfront and given to you in writing by the Builder.
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Question
9
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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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Every 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.
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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.
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Make sure that the application
for municipal water connection is made well in advance. Ensure that
rainwater harvesting is implemented.
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Question
10
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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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A 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.
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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.
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Check with Builder about
maintenance setup & maintenance charges. Check about the ownership and
exclusive use of the club house.
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