AIPL Joy District is yet another project that raises concerns due to unfulfilled promises and commitments. Prospective investors should be vigilant and ensure that for any freehold property, physical possession and leasing rights are secured with you. It’s crucial to avoid schemes offering "Assured Returns, " as these are often subject to changes in terms and may not be honored, leaving investors at a loss.
One of the most pressing issues is the ulterior motive behind leasing rights, where leases are done on a revenue-sharing basis with no rental guarantee. Moreover, obtaining an occupation certificate often signals the end of assured returns, and these malls may remain vacant for years. The maintenance charges, which can be as high as Rs 18 per square foot for non-air-conditioned malls, are a stark contrast to the "low maintenance" promises made during sales pitches.
Before making any investment, it’s wise to read online reviews, check ongoing legal cases on RERA and Consumer Courts, and speak to existing property owners. Be cautious, especially with cash transactions, and ensure everything is documented. Remember, being classified as a "consumer" in your purchase can offer more protection, as AIPL tends to challenge the eligibility of investors in consumer courts.
Do your due diligence before investing your hard-earned money.
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