Buying property for rental Income? Here is the to do list

How to Choose any property for rental income?

Here is the check list, best residential projects in Bangalore are developed on this 5 point formula.

Possession delayed? here is what to do

Many of the builders promise to deliver the homes in time but fail due to several reasons, this will end up the  to-be home-owner without a roof on his head, and paying his current house rents will be a burden as well along with the EMI's.

It is always good to buy properties from the best builders in bangalore who has gaind the trust from their clients.

It's the builders' duty to deliver the property on time, the legal actions available which are to be taken against the default builder are given below

1. Filing a legal case

You can file a legal case on the builder if he doesn't deliver the home in the given period. RERA  takes a 

Written affidavit from the builder before starting the  construction. The promoter should give the 

declaration with an affidavit promising the date in which it will be completed. If he fails RERA should ideally take the case, but if it doesn't happen, you should be taking up the legalities.

2. Complaint in consumer court 

You can always file a complaint in the customer court, where you can claim for deficiency of service, which is about the false promise made and the opportunity loss which is pertaining the loss of opportunity in buying a better property.  

Filing a case in the consumer court is always a great idea.

3. Claim compensation and refund of the Amount paid 

If your project is taking too long time, a buyer can always ask for a refund on the amount paid. You can directly file a civil case in a civil court he can file a case in the  Consumer Dispute Redressal Commission if the builder is not willing to pay the amount. 

You can also ask for the compensation on the rent or lease paying to the present accommodation or you can ask him to fetch property in the same or same kind of neighbourhood until the possession.

4. Claim Interest on the refund:

You can also claim interest on the amount paid upto now. RERA has put a special clause on this aspect. 

5. File a Criminal Case:

False promise for the own benefit is a crime, the builder while advertising his property gives sucl a false promises and falls default after should be punished in the court of law.

Conclusion

False promise for the sake of  making money is a wrong practice, RERA is always there to take action against the fraudulent builders but here is what you can do by yourself rather than being in the mercy of such fraudulent builders.