I came to see an article in the Hindu about the real estate frauds happening in Chennai. The essence of it was almost 300 to 400 cheating cases were registered against different realtors in the last year 2008-2009. Most of the cases were registered in the areas like OMR, ECR, and GST Road etc.
Most of us feel that this time during the recession is the best time to book a dream home. Beware of the following new types of real estate frauds.
1. Less quoted price/sq feet as launch offer: This is a cheap marketing strategy played by some of the builders in Chennai. The price may look lucrative and you will be heads over heals to drive to the site and make your booking fee without even asking some very basic/important questions like
a. Have the builder got the necessary approvals for the construction for the block where you are booking the apartment?
The trick goes like this: Some builders do not get an approval but still collect the booking amount from you and keep you in wait mode. They will keep digging the earth for months to make you feel that the work has kick started. Then the work will be stalled for many months. Imagine how much time it takes to fill back the dug earth. One fine morning the builder calls up for a meeting with those who have booked and apartment and announce that the project is going to be winded up since the approvals are not in place and he returns you back the initial deposit you made. You will be happy to see a genuine builder like this and return home happily. After few months when the economy is booming you will be jolted to see a new Advertisement by the same builder who is launching the same project where you had booked for an apartment few months back with a much higher price/sq ft than before. The premium here for the builder is the interest received from the booking amount given by us.
b. Till when the offer price is valid?
There will be some clause in the agreement which says that the offer price will be valid only if you make 20-30% of the amount on or before a certain date. The trick here is that the date will be so near that you will not even get your loans approved from the banker on or before the mentioned date which make you fall back into the normal price slabs.
PLC Charges?
The PLC charge is something which is additional to the basic cost. It increases based on the apartment you choose. For instance if your apartment faces the road side, swimming pool, parks etc the additional cost will be a few 100’s additional to your basic cost. Even if we choose an apartment which does not have any such panoramic views the builder will have only one answer “Sorry Sir!! The apartment is already booked”. This may not be true; the builder might sell the apartments with no such panoramic views at the end when the market conditions are good for a higher price.
Wednesday, April 29, 2009
Monday, March 2, 2009
Why can’t we follow traffic rules? We can be made to follow.
One of my Client managers who visited Chennai from US answered “You should be brave enough to drive in Indian roads” to my question “Whether you would dare to drive a four wheeler in India”. That was a sarcastic one but we have to admit to the fact that most of the Indians do not know the basics of road rules. I have lot of incidents to narrate which will substantiate the blog
1. Traffic Signals: The moment the Orange light falls you are supposed to slowdown. Certain vehicles like the two wheelers, Auto rickshaws are exempted from this. As soon the Red signal flashes all of us apply brakes and stop the acceleration. However the Government buses are exceptions here as well.
Tip to Non Indians: Never cross the roads even if there is a Green signal for you. Watch out for any Government buses zipping from all the four directions in a junction.
I would propose the following solution: All the 4 intersection roads in a busy junction should have tire spikes near the traffic light. The spikes should come out as soon the red light flashes. Any one who dares to rush through will have to pay for it and the cop can come and nick the driver. It would be lovely to watch the roads on the very first day when implemented in India. The puncture fixing guys will be a millionaire in a single day. When the Green light falls the spike should go inward so that the vehicles can proceed.
Riding on Wrong Lanes: The above solution should be applicable when the driver drives in the wrong lane. The cop should have a remote control using which he can control the spikes installed every 300 meters in the lane. I often see the four wheelers and 2 wheelers using the service lanes in highways. Installing tire spikes would create a permanent fear in drivers mind.
Jaywalking: This is also one of the prime reasons for road accidents. This is something which is banned in countries like US, UK. Jaywalking can carry fines up to 750$ in certain cities in US. Singapore has the harshest punishment for jaywalking, 2000 Singapore $ fine and 5-6 months imprisonment.
Implementing box junctions: These have criss-cross yellow lines painted on the road (see 'Road markings'). You MUST NOT enter the box until your exit road or lane is clear.
Root cause:
1.The facts and figures say that the RTO (Road transport office) is responsible to sell 2/3 of the total licenses without conducting any proper tests. These are misused by Auto rickshaw, Call taxi and truck drivers. Statistics say that the major portions (25.6%) of road accidents are caused by clumsy truck drivers.
2.Punishments: The punishments in India are not severe. The violator can bribe the cop and escape a ticket.
Readers of the blog please follow traffic rules. Let us make a better India.
1. Traffic Signals: The moment the Orange light falls you are supposed to slowdown. Certain vehicles like the two wheelers, Auto rickshaws are exempted from this. As soon the Red signal flashes all of us apply brakes and stop the acceleration. However the Government buses are exceptions here as well.
Tip to Non Indians: Never cross the roads even if there is a Green signal for you. Watch out for any Government buses zipping from all the four directions in a junction.
I would propose the following solution: All the 4 intersection roads in a busy junction should have tire spikes near the traffic light. The spikes should come out as soon the red light flashes. Any one who dares to rush through will have to pay for it and the cop can come and nick the driver. It would be lovely to watch the roads on the very first day when implemented in India. The puncture fixing guys will be a millionaire in a single day. When the Green light falls the spike should go inward so that the vehicles can proceed.
Riding on Wrong Lanes: The above solution should be applicable when the driver drives in the wrong lane. The cop should have a remote control using which he can control the spikes installed every 300 meters in the lane. I often see the four wheelers and 2 wheelers using the service lanes in highways. Installing tire spikes would create a permanent fear in drivers mind.
Jaywalking: This is also one of the prime reasons for road accidents. This is something which is banned in countries like US, UK. Jaywalking can carry fines up to 750$ in certain cities in US. Singapore has the harshest punishment for jaywalking, 2000 Singapore $ fine and 5-6 months imprisonment.
Implementing box junctions: These have criss-cross yellow lines painted on the road (see 'Road markings'). You MUST NOT enter the box until your exit road or lane is clear.
Root cause:
1.The facts and figures say that the RTO (Road transport office) is responsible to sell 2/3 of the total licenses without conducting any proper tests. These are misused by Auto rickshaw, Call taxi and truck drivers. Statistics say that the major portions (25.6%) of road accidents are caused by clumsy truck drivers.
2.Punishments: The punishments in India are not severe. The violator can bribe the cop and escape a ticket.
Readers of the blog please follow traffic rules. Let us make a better India.
Tuesday, January 13, 2009
Risking Lives
In our day to day life we fail to notice these people who are risking their lives for us. Some of them have definitely caught my attention. I would like to emphasize the kind of risk they take in their day to day job in this blog.
1.The Building Masons: When the tall edifices are being built, it is the masons who risk their life during the construction work. I have seen masons who paint the walls or cementing the bricks in the top portion of a building just by hanging on the scaffoldings. When the roofing is done they have to expose themselves to the scorching sun for the whole day which is a daunting job for many of us.
2.Pizza Delivery boys: In Chennai I have witnessed the Pizza delivery boys who whizz along in their bikes though the busy roads to deliver the order on time. The only reason is people who want everything delivered at home. The Pizza outlets are greedy to make money and make offers like, If the pizza delivery is delayed, it would be delivered absolutely free of cost. For this the poor delivery boy suffers.
3.The Farmer: The farmers risk their life by venturing out to the field where the chance of bitten by a venomous snake is more. Records say that in India on an average 5000 farmers are bitten by poisonous snakes and die due to the venom.
4.Last but not the least the NSG Commandos who risk their lives while combating with terror. The recent 26/11 attacks on Mumbai has shown that they are the real martyrs of this country.
Point to ponder: Think of the wages all the above people are paid with. This happens only in India. If the readers feel other professions which are similar please share as your comments.
1.The Building Masons: When the tall edifices are being built, it is the masons who risk their life during the construction work. I have seen masons who paint the walls or cementing the bricks in the top portion of a building just by hanging on the scaffoldings. When the roofing is done they have to expose themselves to the scorching sun for the whole day which is a daunting job for many of us.
2.Pizza Delivery boys: In Chennai I have witnessed the Pizza delivery boys who whizz along in their bikes though the busy roads to deliver the order on time. The only reason is people who want everything delivered at home. The Pizza outlets are greedy to make money and make offers like, If the pizza delivery is delayed, it would be delivered absolutely free of cost. For this the poor delivery boy suffers.
3.The Farmer: The farmers risk their life by venturing out to the field where the chance of bitten by a venomous snake is more. Records say that in India on an average 5000 farmers are bitten by poisonous snakes and die due to the venom.
4.Last but not the least the NSG Commandos who risk their lives while combating with terror. The recent 26/11 attacks on Mumbai has shown that they are the real martyrs of this country.
Point to ponder: Think of the wages all the above people are paid with. This happens only in India. If the readers feel other professions which are similar please share as your comments.
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