Is it wise to trust new developers?

Magicbricks.com Moderator says: In the past few years the real estate industry has been growing by leaps and bounds and this in turn has led to the emergence of innumerable real estate developers throughout the country. Some of them have emerged as the stalwarts while others are still establishing their foothold in the industry. But irrespective of whether the player is small or big, everyone’s purpose is to offer the best deal to the customer and this is usually achieved through a gamut of additional benefits and offers. One of our readers wants to know if he can trust a new developer who is assuring to pay EMIs of a flat till occupant possession or does this entail too many risks? Help our reader by sharing with us your suggestions and opinions.

Reader’s Query
“I want to buy a flat (3 BHK in Delhi). I heard this radio advertisement where the developer promised to pay the EMIs of flats till occupant possession. This seems lucrative but the developer seems to be a new player in market. Is it wise to trust new developers like this? Or should I explore options available with big/reputed developers?”

Comments

[Ramesh]

where is PSG developers i have to 10 lkh correct / resolution maker to get 10%

Contact Ramesh
9213147399

[Sanjay]

Please let me know about Mtech Builders ( Ans Group ) Bhiwari, Project name is camilian Garden 1, What is the fate of this project, Are banks going to finance property of this project.

[www.retailord.com]

Remember to check credentials before buying flats.. by http://www.retailord.com

[www.retailord.com]

Hi to all from http://www.retailord.com . remember to check credentials before purchasing flats...Thanks

[Anoop George]

15 % of MRP is the booking amount and rest will be construction linked and can be through BTPT offer by HDFC Bank by which u just have to pay only the Booking amount and rest will be done through HDFC Bank, We deal with MRP which includes all ur Charges like club Membership , Utility ,Maintainance Corps,Car parking ,No Hidden charges ,Full Transparecy,Warburg Pinkus FDI is the Private Funding company which is with us ,allow me to help u out for furthur enquiries pls call me at :- 099299-22210, anoop.george@asipac.com

[Anoop George]

15 % of MRP is the booking amount and rest will be construction linked and can be through BTPT offer by HDFC Bank by which u just have to pay only the Booking amount and rest will be done through HDFC Bank, We deal with MRP which includes all ur Charges like club Membership , Utility ,Maintainance Corps,Car parking ,No Hidden charges ,Full Transparecy,Warburg Pinkus FDI is the Private Funding company which is with us ,allow me to help u out for furthur enquiries pls call me at :- 099299-22210, anoop.george@asipac.com

[Colm Dillon]

I have developed over $1.2 Billion worth of buildings over the past 30 years and I have never had to give a guarantee or pay any form of incentive to get my flats or apartments sold.

Assess the flat as compared to all other in the price range. In the end you are buying an area of "living space" as well as access to common ground. So 'area for area' how do they compare?

Take the buying price and divide by the floor space of the flat - this takes the emotion out of you comparison.

Now compare the differences in the rates per square foot and justify the difference in your mind. The higher buying rate must be justified or drop it (like one area or street is better than another).

If the market is selling at a rate oer sq. foot that is within say a few percent of each other this should tell you that you are buying "right" - now make a decision on the basis of your human needs.

Hope this helps,

Colm Dillon

[Shweta]

I think you should not go for it... Bcos if the developer is assuring the EMI then he must have loaded that cost in the price of the apartment... then its expensive for u... Remember nobody is going to pay 4 u 4rm his/her pocket... If it happens ,study the pros and cons...

[Avinash]

Well you can go in for the flat if the amenities provided by the builder/developer are good enough but forget that the builder/developer is ever going to pay your installment till the possession of your dream house/flat

[PSG Developers and Engineers Ltd - Victims]

Official website of PSG Developers and Engineers Ltd - Victims.

[Flat Fee Realty Louisville]

I may be wrong, but I would go with someone who has been around awhile.

[amit]

why

[amit]

Hi