Articles
Property Matters Advocate on Frauds in Real Estate
by Abhinav K. Digital Marketing Expert, FreelancePrecaution is better than cure; this old saying fits best in protecting ourselves from the fraudulent activities of real estate players. As mentioned by Mr. Kislay Pandey-property matters advocate, the Supreme Court of India that most of the time hurriedness and greed lead often make us the victim of real estate fraudsters and we must have to act very sensibly to avert these risks.
Realty sector is booming in India but the pace of property frauds is also on all time high these days. Lakhs of property buyers have been cheated by clever developers, builders and of course by property dealers. Recently in Bangalore fraudulent transactions have been made using fake Form 9 and Form 11. Sources said at least 5,000 properties were registered in the Bangalore district with fake forms. Similarly in Coimbatore A 33 year old woman and the owner of a real estate firm was arrested for allegedly selling properties of others by forging the property documents. Mr. Kislay Pandey-property matters advocate, the Supreme Court of India, said," In most of the cases people take decision in hurry, just because of the greed of hefty and early returns. Trapped in marketing gimmicks they usually give little importance to verify the authenticity of documents and neither they seek help from a property matters advocate."
In Delhi, a renowned builder which was frequent in newspapers and electronic media a few years ago for the launch of a township project in Haridwar was arrested for a 36 crore fraud. His company was booking properties showing a land which has been never in their possession. Mr. Kislay Pandey-property matters advocate, the Supreme Court of India, said," In most of the cases builders had sold properties in the pre-launch of the projects despite having no possession of the land and approval from the development authorities." There were as many as 38 cases of frauds in the registration of property has been recorded in the several police stations of the Gurgaon city.
Mr. Kislay Pandey-property matters advocate, the Supreme Court of India, said," In majority of fraud cases, fraudsters forge documents to raise mortgages from a bank against the illegally acquired property and once they succeed in getting mortgage they disappear from the scene along with the money. These fraudsters also target properties where the owner lives abroad." Corporate Lawyers
People must do a proper market research, investigation about the builder/promoter and evaluation of the property documents prior to finalise a deal. Usually fraudsters very shrewdly forge the documents and it is quite difficult to appraise the documents. So, it is highly recommended to approach a property matter advocate to know the hidden clauses and getting a true picture of the whole project. Yes, money is precious then it is the responsibility of a buyer to invest this money sensibly and cautiously.
Realty sector is booming in India but the pace of property frauds is also on all time high these days. Lakhs of property buyers have been cheated by clever developers, builders and of course by property dealers. Recently in Bangalore fraudulent transactions have been made using fake Form 9 and Form 11. Sources said at least 5,000 properties were registered in the Bangalore district with fake forms. Similarly in Coimbatore A 33 year old woman and the owner of a real estate firm was arrested for allegedly selling properties of others by forging the property documents. Mr. Kislay Pandey-property matters advocate, the Supreme Court of India, said," In most of the cases people take decision in hurry, just because of the greed of hefty and early returns. Trapped in marketing gimmicks they usually give little importance to verify the authenticity of documents and neither they seek help from a property matters advocate."
In Delhi, a renowned builder which was frequent in newspapers and electronic media a few years ago for the launch of a township project in Haridwar was arrested for a 36 crore fraud. His company was booking properties showing a land which has been never in their possession. Mr. Kislay Pandey-property matters advocate, the Supreme Court of India, said," In most of the cases builders had sold properties in the pre-launch of the projects despite having no possession of the land and approval from the development authorities." There were as many as 38 cases of frauds in the registration of property has been recorded in the several police stations of the Gurgaon city.
Mr. Kislay Pandey-property matters advocate, the Supreme Court of India, said," In majority of fraud cases, fraudsters forge documents to raise mortgages from a bank against the illegally acquired property and once they succeed in getting mortgage they disappear from the scene along with the money. These fraudsters also target properties where the owner lives abroad." Corporate Lawyers
People must do a proper market research, investigation about the builder/promoter and evaluation of the property documents prior to finalise a deal. Usually fraudsters very shrewdly forge the documents and it is quite difficult to appraise the documents. So, it is highly recommended to approach a property matter advocate to know the hidden clauses and getting a true picture of the whole project. Yes, money is precious then it is the responsibility of a buyer to invest this money sensibly and cautiously.
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About Abhinav K. 
Digital Marketing Expert, Freelance
3,666 connections, 72 recommendations, 9,073 honor points.Joined APSense since, November 11th, 2011, From New Delhi, India.
Created on Dec 31st 1969 18:00. Viewed 0 times.
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