Browsing: Consumer complaints in real estate

Consumer Connect Best practices, Best practices in Indian real estate, Professional practices in Indian real estate, Builder buyer conflict, Builders cheating buyers, Builders harassing buyers, Homebuyers protest against builders, Consumer grievances in real estate, Consumer complaints in real estate, Indian real estate news, Real estate news India, Indian realty news, Indian property market news, Track2Realty

Vicious circle & challenges of best practices

Delivery delays, mismatch in area, changes in structure or designs in a project and developers going back on other promises have been quite common. These issues have given rise to consumer activism, in courts and outside. The Competition Commission of India (CCI) slapping a fine of INR 630 crore on DLF gave some hope to the buyers.

Consumer Connect Best Practices, Professional practices in Indian real estate, Best practices in Indian real estate, Professionalism in real estate, Builders cheating buyers, Homebuyers protest against builder, Consumer grievances in real estate, Consumer complaints in real estate, Builder buyer conflict, Track2Realty

Baggage of trust deficit & best practices

The industry body Confederation of Real Estate Developers’ Association of India (CREDAI) has thus far failed to act against the erring builders. They had only been vocal with a resolve to suspend the members who have repeatedly gone back on promises to buyers.

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Miles to go for best practices in Indian real estate

The developers are by and large living in denial. The deep rooted psyche is that once the market conditions improve the buyers have no choice but to run for an asset class that is not only need-based but also a business where the demand far exceeds the supply. This medieval thought process is in fact the biggest roadblock in the way of best practices gaining ground in the Indian real estate.

Consumer Connect Homebuyer Confusion, Confused homebuyer, Homebuyers grievances, Homebuyers' legal options, India real estate news, Indian property market news, Track2Realty

Indian homebuyers struggling for basic consumer rights

Some discussions about best practices in the Indian real estate has started because today the investors also do not want their money to be locked in an asset that is neither growing nor is likely to get delivered. Worse even, there is no authority or court in India that has been successful in getting a stalled project restarted or in forcing a bankrupt builder into selling his assets to compensate his allottees.