Tuesday, 24 June 2014

Buying A Property In India? Choose An Authorized Developer

property rates in Mumbai - Umove

Property rates in Mumbai are constantly increasing from the past few decades. The next time you plan to buy a home, check the credentials of its developer.
The real-estate industry has flourished greatly in the last few years. Technically, the growth of the industry can be credited to the increase in income, economic growth of the city and privatization. However, that's just one part of the story. While on one side there are premium real-estate property developers who offer premium services at a premium price, there are other small scale builders who cater to the middle class. Be it a big company or small, being aware of the property rates in Mumbai, the buyers expect a real deal of their investments.

While home buyers are keen to get a good deal of their money, they fail to check if the company they are dealing with is authorized or not. Recently, the residents of a posh locality in Mumbai were issued a notice by the government authorities to vacate their flats on account of illegal construction. While the developers are no more alive and the residents do possess all the documents that state them as legit owners of their respective flats, the government has decided to demolish the whole building. As the building was built more than 5 decades ago and the builders are not alive anymore, the residents have taken charge of protecting their properties.

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