"....Check the history of the builder - any criminal cases or building violation cases against him or the company in the past...."
In today's overwhelmingly deplorable scenario, in which, as is commonly known and can be intelligently deciphered, there is an unmistakable landslide in the whole national economy. That has enveloped/engulfed almost every one of the players in a business/commercial sector, not barring the infamous realty sector. If so, and on that indisputable premise, no prospective consumer (buyer), for obvious or easy-to-guess reasons, can sanely consider or be guided by the 'past history' of a promoter/builder , alone or even otherwise, as a safe and secure bet or comfort. To put it differently, in order to protect and safeguard, as far as feasible / intelligently possible, own interests in every respect, what ought to be thoroughly gone into and vetted by a truly competent and reliable, reputed law man, after being fully convinced about his credibility, more so as one fully 'equipped' to provide an independent/impartial advice on the 'legal documentation' part of the transaction. In order to accomplish that purposive object, there is no gainsaying that, it is inevitable that the consumer himself should try and be aware of what all are the basic requirements of the governing laws- i.e. the special enactments on property transfer/conveyance, necessarily not ignoring the rudimentary implications of the law on "contracts".
In a welfare state, as ideally expected, but invariable proving a myth, it is the duty and responsibility of every concerned public servant, empowered to implement,the law of transfer- mainly the registering authorities, to endeavor and ensure that any document produced for registration, before affixing his authoritative stamp of approval, does not suffer from any deficiency, a glaring and vital one at that, if regard be had to what the governing enactment(s) clearly stipulate/ enjoin.
If the Government is driving away investors by pushing the Land Bill, the RBI has done its bit by nudging up interest rates. We’re in a pretty mess. » 3 comments
Consumer sentiment seems to be in the dumps as reflected in the slowest growth in a decade or more in private consumption expenditure. With rising interest rates, and higher land prices, consequent upon the enactment of LARR, there is hardly any chance of an upward tick in housing or consumer durable demand.