2022-03-02
The Moneycontrol Real Estate Show | Is a new real estate developer planning to complete your project stuck for years? Here’s what you should know
The Moneycontrol Real Estate Show | Is a new real estate developer planning to complete your project stuck for years? Here’s what you should know about paperwork and quality checks
In this episode of The Moneycontrol Real
Estate show, Moneycontrol's Vandana Ramnani talks to Santosh Agarwal,
CFO and Executive Director, Alpha Corp, to understand the options
available to homebuyers stuck with incomplete projects. Listen for more.
Agarwal
explains the process of a third party takeover of a stuck project and
the legal processes involved. He says that under normal circumstances,
it generally takes a developer six to nine months to restart
construction once the legal documentation and clearances are in place.
He
advises buyers that they should be prompt in filing their claims and
should bring on record all the documents, including discount letters,
they had signed with the previous builder, to get a fair deal.
He
also informs listeners about the construction quality of a project left
abandoned for several years before a new developer takes over.
Listen to the Podcast below or Click here