There are no standard mechanisms in place that will help to determine the relevant standard rates that the developer pays in terms of construction material and manpower. In addition to this, there is no proper system to determine extra costs charged.
It has been since the past many months that the real estate sector has remained stagnant and most of the inventory remains considerably increasing to no limits. This is one of the biggest challenge for the real estate sectors.
They told us to see their approvals and licenses on the website but when we visited the website, there were no approvals and licenses there.
There are many developers who try to send the potential buyers the projects that are under-constructed. This happens to turn out to be a bummer as the buyer don’t go for investing in a finished project and the under-constructed projects are delayed by 1-3 years.
The building does not have the right fire fighting systems and it is really dangerous because it is such a high building! I wonder how they got the required approval because they do not have their fire fighting systems in place.