The real estate market is reeling under abnormal pressure due to NON-SALE, UNSOLD INVENTORY OR STOCK, DOWNWARD PRICE TREND, HIGH LABOUR COST, HIGH LAND COST AND ABOVE ALL , THE NEW LAW AND MOUNTING INTEREST.
Many of the builders will GO with the NEW LAW and few might remain.
The builders/sellers and brokers are creating artificial demand with different type of marketing technique and offering all kinds of baits to the buyers.
It is learnt that the banks, of late, in the last three months are feeling the default of the EMI and may soon begin the SEIZURE OF PROPERTIES OR ATTACH THE PROPERTIES IN coming months.
The builders are left of huge unsold stocks of apartments, but, they are clever liers, always boasting that all their projects are SOLD.
The reality is different in this sector.
Dangerous designs or structures.
Cheating by charging abnormal BESCOM and BWSSB Deposits.
VAT collected but not paid to Government and in many cases VAT is collected over and above the due amount.
SERVICE TAX collected and some of them have never paid it.
ARREARS OF TAXES is on the head of most of the builders.
All these factors will affect the buyers or the consumers.