Redevelopment is a necessity for those who are living in dilapidated buildings. Builders are chosen for carrying out the redevelopment process so that the residents get newly built houses to stay. However, there are some builders who promise the residents of several things but do not stick to their words. Some common ways used by builders to dupe families in redevelopment projects are mentioned below:
- Once the redevelopment agreement has been signed, builders take advantage of the lenient laws related to redevelopment properties in Mumbai. They hold families to ransom by changing the details that were stated in the contract. So, they redevelop the real estate property but do not abide by the layout or plan of the building.
- Another tactic used by builders is to demolish the building and then abandon the project midway.
- Some builders carry out unauthorized constructions for their hidden monetary gains, which can lead to litigation for the residents later on.
- Many builders stop paying rent to families for alternate accommodation that has been provided until the new building is constructed.
- Some builders stop the construction process of redevelopment projects. Then, they pressurize the families to accept flats with less carpet area in comparison to the area that was mentioned in the agreement.
Also read: SHOULD YOUR SOCIETY GO FOR A REDEVELOPMENT?
To solve these problems, the government is planning to bring MHADA redevelopment projects as well as SRA schemes under RERA. This move will benefit many families that have or are going to opt for redevelopment. Moreover, it will allow stranded slum-dwellers and residents to drag errant builders to RERA. The move will bring a lot of cheer among Mumbaikars as 85% of the entire construction involves redevelopment.
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Now that you are aware of some common tactics used by builders for duping residents in redevelopment projects, ensure that you stay vigilant and do not fall prey to such real estate scams.