93 investors from NE cheated by real estate developer
Delhi, July 2 (MExN): The Delhi Police on Saturday issued an alert to North East people buying land in the National Capital Region (NCR) after a massive cheating case came to light. According to the Facebook page Delhi Police For North East Folks, the issue came to light after a group of people from the North East sought the Police’s help to get back money amounting to crores paid to one real estate developer for buying land in Jaipur. The Delhi Police informed that 93 investors from NE were cheated by the culprit. Despite paying money in installments since 2011, the investors were issued some fake papers, the Police added. In this regard, the Delhi Police have issued some guidelines for purchasing land especially at Delhi and NCR:- Ascertain true ownership by verifying the persons in the chain of property (obtaining Photocopy of the same) and ensure agreement is executed between buyer and the true owner.
- Verify property through Bank/Institutions as banks provide loans only on fair properties.
- Verify Title Deed from a reputed firm (rather than believing in photocopies provided by dealer/seller).
- Check Completion Certificate issued by MCD. Also check if the building is in accordance to approved plan.
- Obtain Building Layout to confirm building plan is approved.
- Confirm Carpet area through actual measurement (rather than believing on brochures).
- Ensure there is no Legal Dues/Complaints on Legal Dues by obtaining encumbrance certificate.
- Cost breakup of price of houses, rather than lump sum price be obtained from builder and the same be included in agreement. This will help legally in cases of deficiency in work done or services provided e.g., deficiency in furnishing, fitting, cupboards etc.
- Enter in written Agreement with developer/builder with payment charges, facilities, parking, delay in handing over etc so that it can be challenged in court in case of violation.
- Ensure earliest registration after reaching agreement.
- Don’t rush for discounts. Rather, go for phase wise construction linked plan.
