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Team iPropUnited

Team iPropUnited
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5 Simple Rules To Follow At Home Before Leaving For A Carefree Vacation

5 Simple Rules To Follow At Home Before Leaving For A Carefree VacationThe Monsoons have hit the Capital in full form and has brought with them long weekends like an icing on the cake! So what do we do? We plan the much awaited weekend getaways! But planning for trips like these is not easy as there are so many things to look after, especially your home. Before you leave for a vacation, you have to secure your home to protect it from any kind of damages and threats. Apart from checking locks of all the doors or giving keys to the neighbors, there are various other things that you need to pay attention to.

Follow this simple pre-travel to-do list and enjoy your vacation without worries –

1.Main Water Supply Should Be Turned Off1The main valve in your home which controls and supplies the overall flow of water should be turned off. It will prevent any kind of potential leakage or water loss.

2.Avoid Any Food Wastage Kitchen WasteBefore leaving for the vacation, consume all the food items which are prone to get spoiled. If then also some leftovers are left, give them away to somebody, because you don’t want to come back to a house filled with the smell of rotten food.

3.Look After Your Garden3Two step guide to preserve your garden – 1. Water and 2. Mulch. Drench the entire garden with a large amount of water before you mulch the flowering plants. If you are neighbours are willing to do a favour, you can request them to water your garden while you are away.

4.Flush And Clean The Toilets cleans a bathroom toilet with a scrub brushBefore leaving, flush the commodes of all the washrooms and sprinkle a small amount of baking soda inside the commode and also in the sink drains. This will prevent the stink of stagnant water when you return home.

5.Electrical Appliances Should Be Unplugged5Every electrical appliance like computers, televisions, microwaves, air –conditioners etc.

present in home should be unplugged so that there is no mishap taking place. When unplugging the refrigerator, make sure it is completely empty.

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10 Advice For Startup Real Estate Business

    2017-06-01 (1)Real Estate Business is a great business that can give one huge returns in the long run and constant flow of money. For every business and similarly Real Estate, one needs to be well planned about the steps to be taken for giving the business a good start that will sustain. The Startups have been in demand in India and giving a platform to many aspiring businessmen. For your Real Estate Startup to bloom, you need to follow 10 pieces of advice from already successful entrepreneurs in the field.

    10 advice to be followed
    1.Document the Idea: For one to have a startup Real Estate Business, ensure that every idea is documented so that you know how to and where to start from. Unless your idea is documented, you won’t be too serious in executing the plan.

    2.Know the Market Well: When you are up for Real Estate business, you should know that there is already a business in existence for decades which means a tough competition. You should be ready for all the challenges that come your way. Doing a proper study of the market will make you more aware of the scenario and make you ready for the current challenges.

    3.Planning: You either plan to fail or fail to plan. The choice is yours. No business is successful without a proper planning and execution that is as hard as a rock. So plan ahead of time and it should be a full proof one. Give your heart and soul to it.

    4.Hire professionals: A business can’t run single-handedly. You need people who you can delegate your work to. These are work which can be not focused on by you. This way you will have time for other bigger decisions and functioning.

    5.Trademarks, branding, and registration: A business needs a trademark that is its patent creation. This gives your business a brand identity. Like the way we associate the brand Apple with the icon of an apple, similarly, you need to have an icon or trademark in place so that everyone identifies your business with that symbol. And yes, register your company. This opens the door for universal recognition. I am sure you don’t want to restrict yourself to your region.

    6.Marketing and Sales: Well, this is a very important aspect of helping your business being noticed and visible. Without visibility, no business works. You need to be noticed by people, your work should be recognized by the consumers; your hard work should be appreciated and praised. In short, you need to be the talk of the town. This is possible with the co-operation of the best sales and marketing professionals who you need to cherry pick. It is your business, so get involved in the recruitment. No one else will know your choice better than you.

    7.Lead the team: For a startup to succeed, one needs to have the best boss. Now, this term is never liked by the delegates. It is very important that you lead your team and work with them rather than being too bossy and losing out on people in a few months. A good leader will be able to retain people for ages and a bad leader is only busy recruiting people.

    8.Meet consultants: No matter how smooth the process looks, you need to know if you are heading to the right direction. For that, you need to pause, meet the experts in the field and consult with them on the pros and cons of your new venture. You won’t believe but there will be many things that you will learn and maybe need to tweak in the system. This will only make your startup better.

    9.Take up Projects: Ensure to be popular by word of mouth than advertisement because the former spreads faster making one popular eventually. This will be the time when you will showcase your talent to the property buyers. What better way to leave an impression on their minds than this? You will be contacted later and soon projects will follow. You will have more buyers and clients under your startup.

    10.Maintain a healthy relationship: Don’t just assume that after a property is sold and the PR done to sell the property, you have no responsibility. That’s what everyone does. You need to be different as that’s where people make a blunder. You want to be in contact with the client forever because you never know if they have plans of buying a second property and you are the first thought in their minds.

    Following these popular 10 pieces of advice, reach the sky and set a benchmark for other real estate startups to follow. The result will be worth the execution.

    Important Documents You May Be Required To Present For Transfer Of A Property

      transfer of propertyBuying or selling property is the most important investment most of us will ever do. It is thus very important that the Property Broker and Conveyancers are chosen carefully. The Property Broker will show you the selling contract to the parties – who must make sure they ask questions and understand all the conditions before filling out the contract. Once the contract of selling is finalized, it is an executed contract between the Seller and Buyer. It is imperative that we understand each and every factor responsible in making the transfer of a flat or for that matter any property seamlessly.

      You must know that without proper documentation, no such actions need to be taken or else no one else but the buyer that is you shall be in thick soup. Proper documentation for property transfer and someone trustworthy should be considered while making this leap.

      Transfer of the Property

      The conveyancer is entitled to get the transfer documents ready and for that the person will require details of the buyer as well the vendor. The details can range from personal to professional together with necessary documents that prove the authenticity of the parties like Marriage certificates, divorce orders and even ANC. After the documents along with the Title Deed have been received by the conveyancer, the process to prepare the Transfer Documents and Proforma account will begin. The expenses incurred in the process will be paid by the buyer.

      Let us know of the expenditure that will take place:- 

      The Conveyance’s fees: these charges are arrested in accordance with a cost from the law community.
      Transfer Duty: this is a tax due to the state on all transfers of immovable property and is measured as a percentage of the purchase price. Transfer of a property cannot take place till the time the concerned office comes up with the evidence showing compensation of the transfer responsibility.
      Rates: the individual will be responsible for prices from the date of deciding upon up of the property in his name. Roughly 3 months’ transaction in advance will be needed by the Conveyancer to allow him to obtain a rates approval certification from the rates division. No transfer can be authorized until the Deeds Office has evidence that the prices have been compensated. A levy approval certification is must in case the flat is sectional title unit.

      DOCUMENTS REQUIRED FROM THE TRANSFEROR (SELLER)

      Appendix – 20 (1): A kind of notice of objective of a participant to transfer his/her/their stocks and attention in the main city /property of the community.
      Appendix – 21: A type of application for change in stocks and attention in the main city /property of the community by the transferor.
      Appendix – 13: A type of notice of resignation of account of the community by selling property participant (in a situation of giving up the flat to the society).
      Submission of N.O.C: From funding agency, if any.
      Declaration: In support of passing over the ownership.

      DOCUMENTS REQUIRED FROM THE TRANSFEREE (BUYER)

      Appendix – 20 (2): A type of correspondence of approval of the suggested transferee for the change in the stocks and attention of the participant – transferor to the transferee.
      Appendix – 23: A type of application for the account of the community by the suggested transferee.
      Appendix – 4: A type of undertaking to be equipped by the potential participant to use the flat for the purpose for which it is allocated.
      Stamp duty compensated agreement copy.
      Payment of transfer fee: Rs.500/- due by the suggested transferee.
      The top quality amount of Rs. 25, 000/-: The transaction of charges are not appropriate if the flat has been used a part of his family or to his nominee or his heir/attorney after his loss of life and regarding the common transfer of apartments amongst the members.
      Undertaking/declaration: Depending on the conditions of any law for the time being in force, in such type as it is recommended under these bye-laws.
      Protecting correspondence to the society: From transferor and transferee telling the community about the selling/buy of stocks of the community.
      Indemnity bond: indemnifying the community by the transferee.
      The panel has to make sure the applications acquired by the assistant of the community are considered and got rid of off within three several weeks of the date of the invoice.

      5 Mistakes To Be Avoided While Planning For 2nd Home

        family-second-home-nowIt is true that after the first home purchased successfully, one gets the confidence of investing in a second home. It is because experience teaches you better than theoretical studies. We hear a lot about buying a home, but unless the venture is tried and tested, you won’t have the experience worth learning. If you are planning for a second home, it is great; however, you need to be careful about not making a few mistakes that can put you in a mess.

        5 mistakes to be avoided while planning for a second home
        Don’t just buy, invest: There is a huge difference between buying and investing. When you buy, you may not have any gains out of it in the long run, whereas, when you invest, you definitely have gains in the long run. So, when you buy a second house, make sure it is located in an area that is already developed or will develop over the years. If not, you will difficult time selling if need be. Moreover, you won’t find peace of mind to retire there. You should love to visit a place owing to its location and feel. If that’s not there, you will be at loss.

        Confidence or over-confidence: Many home-owners believe that once a home is bought, they can win the world. That’s not true. Don’t think, you won’t have to invest the same time and energy for a second home. Keep in mind that this home might be your dream home. So give it as much time as you gave to your first home. Do a proper study of the locality, the property value and the property report. Ensure that the builder has all the documents handy to be transferred to you when you are ready to acquire the home.

        Don’t repeat the mistakes: We can’t deny the fact that we have made many mistakes while purchasing our first home. The mistakes may be wasting time, trusting a builder who didn’t have a good hold over the properties around the area etc. Ensure that mistakes are not repeated. That will save your time and maybe you find your second home sooner than the first one.

        Moderate Climate: When people plan a second home, most probably they are planning to retire there. It is, therefore, important to do a close study of the weather and climatic conditions of that area. What if you are planning to go and have some good time with your family during winter to have some solace; however it is colder than your first home? Why do people visit hill stations during summers and why do people visit warm places during winters? It is a way to escape the extremity of a climate. Your second home should fulfill that purpose.

        Money: When people buy second homes, they tend to forget to check the value of other properties in the area. That is due to too much excitement clouding the rational thinking ability of a person. Check the record of the property value of the area for the past few years. You will have a fair idea of whether to plan a second home there or not. After all, money is what matters when people invest in properties. No one wants to fathom losses.

        These mistakes when avoided can fetch you a good house that will be more of your favorite home. A second home is visited by people not too often because they are busy in daily chores. Ensure that someone is hired to take care of the house so that when you visit the house during vacation, the house is clean and comfortable for you to spend days and months.

        One more tip to be more cautious while buying a second home is not just relying on online portals but also after shortlisting paying an instant visit. This will help you plan ahead without wasting time.

        A few also buy a second home for earning regular cash flow through renting it out. That doesn’t mean you buy any house. In the long run, it is you who will have it and not the tenants. It is your property. So, make a list of all the pros and cons of buying a second home. Most importantly, do know why you are buying it.

        Home Loans For NRI in India

        Home Loans For NRI in India

        With the benefits reaping out on account of stronger currency, India has always been a sought-after destination for Non-Resident Indians (NRI) for the purpose of real estate investments. Although they are not allowed to buy an agricultural land in India but they can surely invest in any kind of property in India and can even avail loan for the purpose of the same. As an NRI you cannot purchase more than two residential properties in India, no such restriction is imposed for commercial properties.

        NRIs can avail a loan on account of purchase, construction, renovation of an existing or a new house. Loan can also be availed on the purchase of plot of land for residential purpose.

        Eligibility: To apply for a home loan as an NRI, you must be at least a graduate. Some banks even require three years of employment abroad or professional qualification along with graduation degree. Your income is also taken into account for the purpose of accessing your home loan eligibility
        Documentation: Following documents are required by an NRI for applying a home loan:

         Local Address proof
         Details of permanent address in India
         Valid Visa
         Copies of Passport
         Salary Certificate (attested from bank in case the salary is not credited to bank)
         Work Experience Certificate
         Statement of Non resident external (NRE) or Non resident ordinary (NRO) accounts
         Power of Attorney to someone in India.

        Submitting documents: For the purpose of submission of documents, you need not to visit India. This can be done to the branches available at the country of NRI’s current residence. Moreover online facility is also offered by many banks. But Power of Attorney to someone in India is a mandate to execute operations in India.
        Amount of Loan: Different banks offer different amount of loans and have different limits upto which they offer loans.

        Loan to value: The ratio of amount of loan to the valuation of property to be acquired is called Loan to value. Generally banks sanctions loan amounts not greater than 80-85% of the valuation of the property. It is largely depend on the gross monthly income of an individual as well.

        Duration: The duration of loan for NRI is restricted within a range of 5-15 years. This is due to the fact that they have greater repayment capacity as compared to residents.
        Rate of Interest: The Interest rate applicable is same as in case of resident Indians and includes both fixed and floating rate of interest depending upon the choice of borrower.

        Loan Repayment: The loan can be repaid in the form of Equated Monthly Instalments only through NRO or NRE account. No other funds can be used other than these and the repayment must be done in Indian currency only. Even the down payment shall be done via these accounts or through normal banking channels. In case of default in the repayment of loan, the bank can seize the property and recover the loan amount.

        So, an NRI can surely obtain a home loan after finalizing a property in India but within parameters as prescribed above. Many banks even charge a prepayment as well. So it is advised to make a thorough comparison among different banks on account of interest rate, pre-payment charges, processing fees etc.

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        Shall You Rent A Commercial Property Or Buy?

          commercial propertyBusiness works on the principal of taking the right decisions at the right time. This is the crucial task as the profits and business prospects are completely dependent on such decisions. The most important part of a business is the work premises. It can either be rented or owned but should you rent it or own it is the question. There are many types of impact that happen in the business when you have a rented or an owned property.

          So, it is important to decide whether to buy or rent a commercial property. Let us look at the right approach to this decision.

          Clear Your Business Plans
          You need to be clear about your business plans so that the right premise can be chosen for the business operations. If your business is in a metro city, then the place is not a concern as you have a wide variety of options available and your business may also flourish depending on the location of your workplace. If the business is in a non-metro city, then options are less as business premises care not easily available. So, you can look at the long-term prospects and then decide whether you need to buy or rent a commercial property.

          Benefits of an owned property vs rented
          When you have a property, which is owned by your business, you can make the changes as desired. There is a complete control on the way you would like to fit things in the vicinity. However, you will need to follow the rules and regulations as per the laws so that there is no trouble in the paradise. But with the rented property you have owner restrictions which can impact your decisions to run the business and use the workspace as per your needs. In an owned property, you have full right over everything in the property. You are neither answerable to anyone nor have to think twice before anything you do in the property. You are the king.

          On the other hand, if it is a rented property, you are question for every action; you are bonded by certain terms and conditions and give you a feeling of being trapped. You never feel at peace when you have a rented property.

          Owning a Property
          It is always better if you own a property. It raises your financial stability and helps you to look at things in longevity. This can build an equity in your business and paint a better picture for your business. It can also have tax benefits of you own a property and lease it for returns on investments. It can also help you in times of financial crisis to pay the creditors. It can also pose as a personal property when you purchase it from the business profits. All these can be a tax saving component if planned well with the right knowledge from the tax experts or chartered accountants.

          If your property is in the prime location, it will fetch you good returns in the times to come. It will have a great appreciation value and if the property is purchased at a lesser value then the returns are huge. If the land is also owned by your business, then it has a humungous impact on your business profits as you can expand as and when required with the right permissions from the law. This way a new building or an office can be set up within no time and without worrying about renting it.

          Rented Property
          If your business is not dependent on the premises, then you can surely look at the better prospects of not investing in a property. You can find a rented office or commercial premises which can save you the rent cost and can be left without any hassle. You need not create any property within office like furniture or fixtures so that moving is easy. This will also give you an upper hand on free and liquid cash to use in the business and earn more profits from it. Working capital is important for any business to function.

          Owning a business property can also help you to mortgage it at times when you need cash urgently for business purposes. It needs personal guarantee which can be the office premises without any doubt. You can purchase a property when your business is at its peak and make your future secure so that at times when the money is needed the assets can be liquidated. All such things matter the most when you are in debt and need to get out of it to make a fruitful future for you and the business. So, analyze all the above parameters before you decide to buy or rent a commercial property.

          With all the pros and cons considered properly, one can take the decision that will be more beneficial from all aspects. It differs from one person to another whether commercial property should be owned or rented.

          10 Best Bedding Ideas To Make Your Bedroom Elegant

          decoration-lightings-bedroom-office-furniture-popular-design-apartment-interior-home-design-good-bedroom-ideas-with-elegant-master-bed-and-crystal-hanging-lamp-feat-artistic-wall-decor-for-best-bedroOne of the key personal area of a house –bedroom, is a place which needs a specific attention in terms of decor. The place must exhibits positive vibes as it helps to relive your day-long tiredness and channelize your energies positively. Below are the 10 best bedding ideas that not only give an elegant look to your bedroom but also give you a reason to relax here more:

          Beddings must be in parity to your décor1Give your bedroom a contemporary look by choosing bed linens that goes well with the style of furniture you choose. Go for light shades of beddings if your furniture is dark in color to give a spacious look to your room.

          Add a serene scheme to your bedding2To add warmth to your classic and contemporary bedroom, cocoa brown and pale blue are the best shades to work with. Unifying design elements can be added to you décor with wall colors in parity to the bed sheet topped with bright pillows to knit the scheme together.

          Pillowscaping – a good way of pillow arrangement3For pleasing angles, we add pillows of different shapes and colors to our beddings. But it may sometimes leads to cluster spoiling the overall look of your décor. To avoid this, go with pillowscaping which ensures effective arrangements of bed pillow by arranging orderly rows of pillows in contrasting colors, shapes and coverings.

          Add some soothing shades4Bedroom as a place deserves to reflect serene moods which can be done by adding some soothing colors to you beddings. Go for a white sheet and team it up with fitzed sheet. You can also throw a colorful duvet to add softness and give it a tailored look.

          Unique Color combinations5From subtle shades of grey and white to chic ones say green or orange, all goes well depending upon your decoration style. To give a contemporary look, go for Luxury bed-sheets along with a decorative top edge. Team them up with pillows featuring embroidered vine motif.

          Get creative with your Duvet cover

          6
          aliexpress

          Using an upholstery fabric and some traditional floral designs, crafting a creative duvet cover is not a big deal. Adding an antique quilt will give a contemporary look to your overall décor. A fashionable mocha and rose colorway with Blue ruffled edging tied to custom made duvet can work wonders to your bedding style.

          Add glitz to your bedroom using Pillows

          7
          Wayfair.com

          If you choose subtle colors for a neutral bedroom, a print pillow sham can give an eye-catchy look to your overall décor. To add bolder hues, chenille patchwork quilt will be a superb addition. Fold it back over the coverlet and give your bedding a graceful look.

          Get experimental with pattern

          8
          Viendoraglass

          If you have traditional wallpapers in your bedrooms, a tangerline and blue may add lively bedding to your bedroom. To add a chic look, use orange color as a dominant one with the hints of blue accents. Lively moods can be enhanced by using a mix of patterns including circles, checks, diamonds each held together by unique color.

          Luxury bedding to give a royal touch

          9
          AliExpress

          Bed linens like satin sheets not only give a velvety touch to your décor also make it irresistibly inviting. This smoother fabric with luminous sheen and butterfly softness with a thread count of 350 to 500 give an elegant look to your bedroom.

          Retro bedding with 1970s inspired colors

          10
          Elle Decor

          Dispense you layers of pillows to give an off-beat look to your bedroom décor. Evoke a modern mood with some tailored designs in retro colors. A combination of brown and chartreuse as bedding can work miraculously with steel-grey colored cool walls in your bedroom.

          These ideas will add an exotic touch to your bedroom which will definitely sooth you after a hectic day at work!

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          Investors Clinic Unveils growth plans, expands operations nationally by setting up offices in Mumbai, Bangalore and Jaipur

          Investor's Clnic's CEO

          Investors Clinic, a Noida-origined fastest growing real estate consulting giant, has announced its growth plans to expand business operations nationally by setting up offices in Mumbai, Bangalore and Jaipur. These markets have shown unprecedented real estate growth in past few years creating huge demand for professional real estate services.

          After its successful operations in Delhi-NCR with impressive growth record of 20% annually in last 10 years, Investors Clinic sees surge in demand for its quality real estate consulting offerings in other markets of the country having immense potential for real estate growth from consulting to buying and selling properties both in residential and commercial projects. The company aims to achieve three-fold growth in next 5 years.

          Speaking on this expansion plan, Honey Katiyal, Founder, Investors Clinic said that, “We see a huge opportunity for consulting services in matured markets like Mumbai and Bangalore and growing market like Jaipur. Our vast expertise and experience in real estate consulting for last 10 years have encouraged us to expand our business operations to these markets and win customer trust. Investors Clinic aims at setting operations in at least 10 new markets in next 5 years and is confident of achieving the same, given its consistent year-on-year growth.”

          Investors Clinic has already partnered with leading developers in these three markets, as part of its expansion plan to establish itself as an emerging player and cater to the growing needs of homebuyers and sellers looking at professional real estate guidance and expertise in today’s highly competitive and complex marketplace.

          Investors Clinic has partnered with pioneer builders like Lodha, Rustomjee, DLF, Godrej, Sobha, Tata, Damac and more as part of its pan-India expansion plans in key cities including Mumbai, Bangalore and Jaipur and looking at giving a value for money experience to their customers.

          All You Need To Know About Residential And Commercial Lease Agreement

            commercial-lease-agreement-propertyLeasing is the best way out to your business and residential needs. It is a stop gap arrangement done by you until you accumulate the funds to buy the property. It is a win-win situation for both the parties engaged in such a deal. The tenant can move in and out whenever necessary and the landlord gets profit on the property along with appreciation value. But all the deals that include property or money should be dealt with utmost care. It is necessary for you to analyze all the factors before you sign the dotted line at the bottom of the lease agreement.

            What should you look for?
            Have you ever entered an agreement before? If yes, then you must know at least a few basic points about it. But if the answer is a no, then you need to do some homework before you jump in the pool. So, let us look at the things that need to be considered before you get into an agreement.

            •The first thing that needs to be looked upon is the landlord and his details. The landlord should be a genuine party and have all the relevant details and documents to claim that the property is owned by him/her. This way you know you are entering a legal contract and that your money is not going down the drain. It is also the other way around; as the tenant should also be able to provide the details on his background and that he is not engaged in anything that is unethical.
            •The next step is to look at the property and its authenticity. It should not be illegal as this can pose a threat to both the parties. The details of the property should be printed in the agreement as this will ensure that the property is on lease and if any issues are faced in the future, it can be a proof for the tenant. The date of the contract should be clearly mentioned with date month and year on it. This will ensure that the contract starts on a date and ends on a date as discussed between both the parties.

            Both the parties should do a close research on details that may make a difference in the decision making. The tenant should be well aware of the landlord; similarly, the landlord should know where the tenant is from, what he does and what the purpose for acquisition is. Don’t just dive into something that looks lucrative.

            Minute details on the contract
            Every single detail discussed between the parties should be documented. This will ensure that there is no fuss about all these things at a later stage. There are many rules and regulations of the society or the commercial premises which should be adhered to by the tenant and the owners of the property. This is for the smooth transition on a regular basis. The amount of the rent should also be written in the contract in both numerical and words format. This is to be sure that you are paying as agreed by the parties in the contract.

            It is easy to get into a contract which binds two parties but difficult to get out of it if there are any disputes. All this will lead to a lot of time wastage along with money. Moreover, it has a mental impact on the parties and keeps on piling up every time. The laws are different for commercial and residential leasing and that is standard for countries. It is necessary for you to know the difference between the two as both are used for different purposes. You need to know how to read the fine print which can save you a lot of time and energy.

            You can take help of the experts in this field who charge a commission on the transaction you do with them. But at least you have the surety that whatever you have done is right and ethical. Nothing comes free of cost in this world and knowledge is the biggest game changer for all. So, have the right knowledge so that you can do these transactions on your own in the future and save the cost of the commission paid to the agents and middlemen. The above points will make sure that you know all about the leasing agreement and do the proceeds smoothly. Anything that is not documented is of no relevance to the law and cannot be abided by. So ensure to keep everything black and white to be free from all problems.

            Many people make mistake of not reading the contract through. This is vital although it can be tedious. The time that you spend on reading every point of the contract can save you from being caught in a dilemma later when something comes up as a surprise for you. There have been many instances of landlord and tenants having a dispute over a trivial matter because the tenant hadn’t read the agreement well. It is better to clear before acquiring the property for rent. This helps you from getting into legal terms later.

            After 7 Years And 75% Of Amount Paid, Orion Buyers Still Waiting For Their Flats In Gurugram

            apartment Even after seven years of booking the flats and paying more than 75% of the unit cost, the fate of all the homebuyers hangs in uncertainty as the Orion Galaxy society on Golf Course Road in sector 68 is nowhere near completion. The most horrifying thing for homebuyers is that instead of promising a timeline for the completion of the project, the developer is asking for an extra amount of money, apparently for parking and other charges.

            Tensed about the amount of investment they have made and shocked by the developer’s unending demands, homebuyers have ultimately filed complaints with Economic Offences Wing (EOW), DTCP, and the Prime Minister’s Office (PMO). But, no solution has been found.
            Initially, the project was launched in 2009 and then again re-launched in 2010, and was supposed to be completed in three years. But now, it is 2017, and still, the units (400 in total) are to be completed.

            The homebuyers have accused the developer (Soni Infratech Private Limited) of executing the Builder-Buyer Agreement that is one sided. Even after a continuous delay since so long, the developers are still not making any efforts to gain the confidence of homebuyers by working towards the completion of the project.

            The homebuyers have received letters from the developer in which they have been asked to pay extra money on the excuse of higher IDC and EDC. Frustrated by the delay, homebuyers have clearly refused to pay until and unless the developer is able to prove that this extra amount is proportional to the increase by DTCP or HUDA.

            After the several complaints by the buyers, the problem was discussed in the meeting held by Allottee Grievance Redressal Forum (AGRF). The developer had been instructed to give a commitment of the date of completion of the project.

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