Thursday, April 4, 2013

Builders Selling Car parks not legal.



''This is an excellent judgement given by the Consumer forum. Builders are exploiting the hapless buyers of flats by all possible and unimaginable ways. The builders have introduced all sorts of unethical practices and there are no ways of fighting them then and there. They quote some price and subsequently levy additional charges in the form of maintenance expenses the details of which are not made available. They add all sorts of capital expenditures incurred by them to the maintenance accounts and in case some one questions, they are threatened with all their power. Even Corporates Builders who enjoy a good reputation in the market do resort to all unethical ways of accounting hand in glove with their accountants and auditors. Even the Corpus funds collected by the Corporates are diverted for their other units as working capital and the details of interest if any earned are not made available. It is time some regulation is introduced to ensure that the corporates maintain proper accounting of their housing projects and their accounts are audited as per the rules and details made available to the prospective buyers of flats.''

This comment is in response to an article 'Builders can't sell flat's parking space separately'' that appeared on Times of India dated 4/4/13.

No comments: