The present market situation of real estate indicates the excess supply over of requirements of Plots, Flats and Vilas all over India. Demand is highly gloomy. The indication of revival and recovery exhibits to be a faraway, therefore every real estate builder attempts to offer profitable and attractive offers or schemes in real estate in order to push their products in market and to empty the inventory. When the market is truly down then investment demand of the real estate products get reduced with the hope of further downfall in the price. Therefore it is anticipated that only real buyers remain stay in the market as they cannot postpone their authentic need of flat and apartment and are keen to buy it as soon as possible.
Recognizing the demand, builders do offer very profitable and attractive offers or schemes which look so beneficial and attractive allegedly that it is strenuous to resist so called tempting offers and schemes. Thus, every time what glitters is not gold at all the time and purchaser must be extra cautious when they come across so called profitable and attractive schemes and offers in real estate. Today we will bring you few points that should be considered:
There is nothing like complimentary lunch therefore purchaser will have to pay directly or indirectly the price which may be delayed for the time being but cannot be vanished.
Offers and Schemes may be in the ratio of 20:80, 10:90, and 30:70 or may be just pay a token money and remaining amount should be paid on the finalization of the project or developer may pay rental charges till the project is done. Always remember that there is nothing like complimentary in any commercial transaction and real estate is not a special case to this.
What purchasers have to be aware about – examine the track record of the promoters? If their track record is uncertain then there is possible chance that developer may default on accomplishment of project which may corrode the CIBIL score of purchaser leading to greater financial risk such as delayed EMI, hidden rise etc. So the offers and schemes where developers may pay installment on behalf of the buyer requires to be looked honestly for if developers default the payment of EMI to bank on behalf of buyer. The purchaser must examine the rates whether the rate under easy funds option furnishes to be higher than standard finance, if so he/she must calculate the actual cost.