Advertisement Guidelines For Builders

Arecent Public Interest Litigation, filed by an NGO called
‘Sanrakshak’, in the Supreme Court has requested the court to direct
both central and the state governments to issue nationwide guidelines
for the print and electronic media for checking the authenticity of
advertisements required to be inserted by builders.

NGO has requested to form a statutory to confirm the background of
each builder desiring to advertise their projects. The petitioner said,
“There should basically be a checklist for media to satisfy themselves
about the genuineness of the builder and promises being made to
prospective buyers.”

The Supreme Court has issued notices to both the Central and state governments on this issue.

“It is astounding the naivety with which many buyers approach
property buying. When it comes to probably the single biggest
investment decision of their lives - investing in a flat or house --
people often do not carry out even the most basic checks,” an analyst
says.

Boman Irani of Keystone Developers says, “I personally believe
safety comes with a brand. With a good brand there is 70% -80 %
guarantee of the project being aboveboard.” He pointed out that buyers
need to be careful that the developer is not offering a deal that is
too good to be true.

Buyers must check the projects a developer has built before. They
should talk to buyers from these projects to find if he has delivered
on his promises or not.

A senior member of the Maharashtra Chamber of Housing Industry says,
“An attendant issue is the size of the project that the builder has
taken up earlier. It is possible, for example, that a builder may have
an excellent track record when it comes to small, single building
projects. But if he is now building a huge township, it might be worth
checking if he has the project management and financial management
skills. For in their absence, even the best intentions and track record
may not help in getting the project completed in time and within costs.”

Neelkanth Developer’s Mukesh Patel says that apart from checking the
developer’s track record, consumers should visit the work site.

The consumer would be aware about the carpet area, actual area to be received, and position of the flat.

Even such checking of the builder’s antecedents can’t suggest the
buyer whether the title to the land on which the developer is building
the property is clear and developer’s development rights. So, better
option would be to hire services of an expert.

Expert will look into the issues like if the land title is clear,
whether it falls into a no-development zone, or a coastal regulatory
zone; and whether the requisite Floor Space Index and approvals from
various authorities are in order.

According to lawyer Lakhamshi Rambhia, “The buyer of the builder
should be verified and in case of a developer, the title of the owner.
In this case the agreement between the developer and the owner should
also be checked. The consumer also has the right to check the
commencement certificate and the occupation certificate.”

Every builder is required to adopt the code of CREDAI, which
prevents sale of property unless the builder has received sanctions for
the project. The Consumer Protection Act also protects the interests of
consumers as they get immediate justice at affordable court fees.




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