Regarding Cheating by Builders

Querist : Anonymous (Querist) 28 November 2009 This query is : Resolved
Many builders are there in the real estate market who are cheating innocent public openly. Even after cheating they are running their offices very prestigeously today.

IS OUR LAW IS SO WEAK THAT EVEN AFTER FILING CASE AGAINST THEM & KNOWING EVERY THING ABOUT THEM OUR LAW CAN NOT PUNISH THEM EASILY. AS THEY KNOW WEEKNESS OF OUR LAW & ITS PROCEDURE THAT IS WHY THEIR
BOLDNESS HAVE INCREASED & THEY ARE FEARLESS.

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sanjeev murthy desai (Expert) 28 November 2009
Dear Mr/s

I am not agree with your above views. Our Laws are very strong and hard but peoples awarness is very low.

"caveat emperor" is theory is applied in this regard.

When we buying the property from the builders, we should take the legal opinion and title report of that scheme or project otherwise same wil happen generally. But people dont want to take the opinion because of expense of professional fees. Subsequently they will lossed everything their hard earn money.

And dont make that allegation against them they are also one of the part of the our economic society and they are resolving our lot of employment problem, shelter problem.

A V Vishal (Expert) 28 November 2009
What is your query Mr Anonymous ?

adv. rajeev ( rajoo ) (Expert) 29 November 2009
buyer must be aware.

G V S Jagannadha Rao (Expert) 29 November 2009
Dear Mr. Sanjeev Murthy,

CAVEAR EMPTOR. This principle is seen in Sale of Goods Act. There you can find principles like "sale by sample"; "Bulk to match sample" etc. Real estate is not sale of goods. So the principle of caveat emptor may not be applicable in real estate transactions.

I however appreciate your views on other issues. I wish to add that many buyers never undertake due diligence. They remember about advocates and their rights only when they are cheated by the builders. It is only because of lack of preemptive action (due diligence) that some builders are taking gullible buyers for a ride.

Y V Vishweshwar Rao (Expert) 29 November 2009
As suggested by R S Vadrali and Mr Rao the purchaser shall verify all the aspects , title of proerty , right of the Builder / Owner to construct and to sell the Falt to be sold and then further proceed to purchase of the Flat .

Generally the Purchaser will innocently depend upon some agents and mediators , if the said agents & mediators services are not proper & not good, all the builders can not be blamed !

The transaction between Buiilder and Purchaser is an agreement with all Terms of Contract and compliance of local Body Laws/Rules/Regulations and property Law .

Raj Kumar Makkad (Expert) 29 November 2009
This section is not forum rather it is meant for raising the quarry and submitting its replies by the experts but

there is no quarry

so

what to answer

and

why

to answer?????

Mukul Aggarwal (Expert) 30 November 2009
Dont worry Mr. Anonymous a regulation act is about to come in this session. thereafter builder will be able to do their business as per the act guidelines.

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