It took few months to convince myself that I need to go for buying a Apartment in Bangalore - atleast from Investment perspective.Last week, I started looking out for residential projects around my office.
People also claim that 5% deviation is acceptable and allowed within rules.
During my discussion with Marketing people
from few projects (behind Cisco Campus), I found that almost every project had
some deviation – extra floors or pent house etc.
They claim that only the owners who buy
those pent house / flats in the unapproved floors will have to pay the fine
later. Others will *not* be
affected.
How can that be true ?. What if the
authorities choose to demolish the construction on unapproved floors ? (Dunno
if this has happened in any of the projects in BGL).
Demolition may affect the stability of the
structure.
People also claim that 5% deviation is acceptable and allowed within rules.
And how do you calculate the deviation
percentage for a project ?. There can be multiple formulas. 5% with one formula
might be 15% in another.
Buying / owning a Apartment seems to bring
so much complexity & uncertainty to your life.
Wondering how so many people are taking
risks and keep encouraging the builders in the game.
Why should one pay huge money to buy more
& more risks. Ironically Builders make money by “selling” risks to the common
man.
Even the Home Finances Cos/ Banks seem to
be colluding with Builders and violate all the processes. You just can’t draw comfort
from the bank approval
of loans and claim that everything is legally right. Every institution seems to turn blind just for
the sake of making money.
I just started looking for a Apmt. Am
definitely scared to say the least.
Started thinking if I should stick to my
original plan - “Better lead a simple, peaceful life in a rental house (no bank
loans, no emis, no khatas, no property tax, no bribes).”