I shortlisted a project did my checks not encroaching lake, canals , had rera approval etc . Negotiated price though I could further reduce but once a fair price was reached I stopped negotiation.
Till now he has only sold 15%to 20% of his units .
I was shared agreement-
Major issued -
Additional far/tdr clause
5% transfer fee.
95% to be paid just completing structure, block work & tiles - collecting funds for clubhouse, stp , amenities but no timelone on delivery. Plumbing , electricity, stp , clubhouse these are the once that gets delayed
Does not mention if possession / registration is post oc
Mentioned lack of supply as act of God.
Apart from far/tdr he didn't want to negotiate on any other clauses
The builder said he does not want to work with as i am asking lot of questions these are industry practice. I am guessing he will collect 95% of funds then has no incentive to maintain quality or deliver product as promised , he will just ensure product is liveable and delay all other items beyond rera.
This is his first project with 400+ units , all his other projects are builder floor . In rera he has not mentioned his previous projects .
I am surprised we as customers are not demanding fair practices. He has pnly sold 20% / 54 of his units since his launch[ 15 months], this is a very good area mature rental and end use market .
Not even one customer flagged this and said i was being unreasonable