How does IB fools us?
To attract us first they will give misleading massive ads in the leading newspapers.
To make it look mouth watering for us, they will make Initial master plan(this will always change later) with all the good amenities like club moss, school, mall etc.
They will ask us to go for ADF as they will offer it at cheaper rate and again only IB can give us the loan and for reasons they will give an answer understandable by aliens only. And this is the way to squeeze the customers from both end(IB real estate and IB finance).
Once many of us book flat, they will change the master plan and say we have the authority to change the master plan as per your execution of application form(clause no. 7, 28 and 29).
The new plan will always have larger area flat than our initial booking so that they can again make the loot by saying we are giving you extra area and you have to pay the proportionate amount at current rates. And then most of us will argue about at current rates or original rate but we will forget that this is to confuse us so that we don’t argue about carpet area changes and forcefully selling us the area we didn’t book.
Purposely they will give a possession date, which they know is not feasible, reasons are 2 folds, firstly, they can hold our money for extra time and earn interest and secondly, some of us will always cancel the booking for delays and plan changes, and again they will deduct 5%(or more depending on plan is approved or not) before they give us our money back, mind you, meanwhile they have had already earned lots of interest with our money and as if this was not enough, they will again sell the same flat cancelled by us to a new customer, in even higher rates(they call it current rate ). paisa hi paisa
Ok, so some of us might think intelligently and might want to sell our booked flats, but wait . IB is more intelligent, if you intend to do so, IB will charge us 15% of purchase value before we get the possession or 5% after we get the possession till the formation of corporate body(caluse no. 26)