apartments for sale Nitesh Estate

Suggested Check List for the Handover -Nitesh Caesars Palace Buyers


Suggested Checklist from NCPBA… feel free to add and help the group

pic_article_Apartment-management-functions-prashant-kamat

  1. Decide whether you want to take handover before OC approval for your block or not and act accordingly.
  2. Make sure that the Maintenance Agreement corrections are in place before signing it.
  3. Calculate and deduct TDS for the full sale value from the final payment. Include delayed TDS payment penalty in the deduction, if applicable. Check with your CA
  4. During inspection, measure and record the actual Capet Area of the flat with a tape. Verify that the Carpet Area as a % of Super Built Up Area is within acceptable limits promised/agreed (usually Carpet Area should be >=75% of SBA)
  5. Service Tax and Vat Charges by Nitesh Estates Limited (NEL)
  6. Check everything thoroughly and record a jointly agreed and signed snags
    o Windows, Doors, Handles, Locks, Electrical Switches, Fan Regulators, Taps (working water), Flushes, Mosquito Nets, Cleaning, Water Seepage etc
    o Tiles – randomly check for any hollowness by knocking, any broken tiles?
    o Mosquito net – is it torn anywhere?
    o Lighting
    Lighting fixtures like holders are fixed
    § Check all lights & points (including geyser point) works correctly with DG power
    o Doors
    § Main door polish
    § Peek view glass fixing to the main door
    § Door stoppers
    o Kitchen slab quality
    o Hole cutting for kitchen fume exhaust pipe fixing
  7. Ask for necessary Certificates / Letters / Documents
    o Fire NOC copy
    o Completion Certificate of flat by BBMP / Architect / NEL
    o Completion Certificate of block by BBMP / Architect / NEL
    o Handing over certificate / declaration by NEL
    o Lift Safety NOC
    o OC Application for the block with latest status
    o Garbage collection plan in writing by NEL
    o STP working declaration by Nitesh Estates Limited
    o Make sure to get a soft copy of all engineering drawings / plans of your flat – Electrical, Plumbing etc. Will be needed for any subsequent repairs, later
    o No-encumbrance letter / certification / undertaking from NEL for your flat i.e. a letter guaranteeing that once registered, you will have full and final ownership on the flat irrespective of any other parallel commitments / liabilities of NEL with any other institutions or investors.
  8. Gas
    o Gas line plumbing till kitchen slab with meter
    o Gas line work ability
    o Gas bank
  9. Security allotment to block
    · Ensure that Car parking is allotted, numbered, accessible and well-lit
    · Collect and check all door / window keys
    · Make sure that you get a copy of ‘every’ document you sign during handover / registration

Do share your points if still some missing,lets together make a comprehensive list   350+Nitesh Caesars Palace Buyers.Comment and Email to NCPBA:ncpbassociation@gmail.com

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Why…Dealy …When…Possession


20160130_131104Remedies Available for Buyers to Deal with Delay in Possession

Here are some remedies available to homebuyers for dealing with delay in possession:

1. Ask for Refund- A homebuyer can ask for a refund from his builder when there are excessive delays in completion of a housing project. As the buyer, you have the entitlement to ask for a refund from your builder.

2.File Case in Consumer Dispute Redressal Commission -If a property is being purchased by you exclusively for your personal use, you can even file a case in one of the 3 levels of the Consumer Dispute Redressal Commission based on the value of the property purchased. If the dispute occurs for a property whose value is more than 1 crore, then the case has to be filed in the National Commission located in New Delhi. For properties whose values are over 20 lakhs, the dispute needs to be resolved in front of the State Commission while for disputes related to properties below 20 lakhs, the case has to be filed in the district commission.

3.Special Provisions in Select States in India- Some states in our country enjoy special provisions for the benefit of their consumers. Maharashtra, for instance, has a provision whereby a remedy is available to you through the Section 8 of Maharashtra Ownership Flat Act of 1963. The section specifies that if a builder is not able to give proper justifications for the delay in possession or non-completion of the project, he’ll have to refund the amount, with interest, to the buyer.

4.Additional Provision- The ‘Domestic Building Contracts Act’ of 1995 lays down that the builder has to provide the following warranties:

(a) The builder should complete all the work on time.

(b) All construction work should be carried out as per the specifications and plans that have been specified in the contract.

(c) The builder should use and supply high-quality materials.

(d) The builder would endeavor to do the work with reasonable skill and care as per the legal process.

(e) The home should be apt for occupation when the work gets completed as per the builder.

5.Serve Legal Notice- Before taking any type of action against the builder, it is recommended that you serve them a legal notice and give them an opportunity to respond. The builder might take corrective actions to get the problems resolved, thus saving your valuable time and costs that are usually associated with visiting the court.

Buyers set for legal action over delays at Emaar’s Indian project

Frustrated property buyers in an Emaar-MGF development in the Indian city of Gurgaon are stepping up their action against the developers with a case set to be lodged in the consumer court.

frustrated with the ongoing delays, a group of 90 buyers, have formed a group to collectively get solid information as to when the properties will be delivered and to try and get adequate compensation.

They will take their case to the consumer court, where Metha said they hope to have their claim dealt with efficiently.“They take up a case pretty fast by Indian standards. Within three months you will get the first hearing and within 45 days the respondent has top respond,” Read Ahead

More news: Why is no one thinking about us, ask homebuyers

Sound Agreement Between Buyer & Builder


Nitesh Caesars Palace Sales Agreement :As per section 5.1, we all have agreed for maintenance by builder or maintenance company of builders choice, for a period of ‘5 years’ from the date of completion of the respective block:Now Nitesh Estate is trying to revise it to 10 Years. What you Say ?

Currently NEL is proposing 10 year maintenance by NPMPL with following provisions / clauses (some of which are seriously one sided as you all can judge for yourselves):

  • Rate of Rs. 3.5 per sqft per month
  • Minimum and mandatory upward revision of 5% every year
  • Any increase in input cost can be applied retrospectively (not clear whether it is in addition to the 5% mandatory increase or not)
  • Tanker water is additional cost
  • Diesel for generator is additional cost
  • Disposal of extra sewage generated is extra cost
  • Insurance is extra cost
  • The agreement is “binding to the buyer even after the Owners association is formed”
  • The agreement of 10 years “cannot be canceled” under any circumstances
  • The definition of 10 year is not fully clear – in one place it says 10 year from the date of handover and at another place 10 year from the date of Owners Association formation
  • NPMPL has the first right of refusal during renewal of maintenance agreement after 10 years
  • NPMPL can assign full or part of maintenance work to any person/entity at its own discretion (without consulting or agreement with the owners or owners association)
  • NPMPL has the final authority to decide when to use Corpus Fund towards any Capital expenditure

signLet’s take a look at 5 such points you need to remember and the measures you can take against them.

Point 1: Actual price of the house

The agreement you enter into with the builder details the various costs that you will need to bear for buying the house. This would include the cost for utilities like electricity and water, parking space, various taxes and in some cases even the registration charges.

However, the builder may then levy some extra charges for any of these.

Measures to take

Check the agreement very carefully for all the charges applicable.If possible, get the agreement checked by a lawyer for any missing or hidden charges and get the anomalies (if any) rectified by the builder.
If the extra charges are for alterations made to the original plan, ask the builder for the sanction letter provided by government authorities for such alterations.

Point 2: Actual size of the house

The agreement would clearly mention the size of the house you are purchasing. However, there is a clause which states ‘.the plans, designs, and specifications are tentative and the developer reserves the right to make variations and modifications.Therefore, you may agree for a certain size, but the builder can give a different size.

Measures to take

Before freezing on your choice of a builder, do some research about the builder’s past projects.
If possible, talk with other buyers who already have got possession about problems faced by them
Try and include a clause in the agreement stating the minimum and maximum size beyond which the builder cannot increase or decrease.
Point 3: Carpet area

The area of an apartment or building, not inclusive of the area of the walls is known as carpet area. This is the area in which literally a ‘carpet’ can be laid.When the area of the walls including the balcony is calculated along with the carpet area, it is known as built-up area. The built-up area along with the area under common spaces like lobby, lifts, stairs, garden and swimming pool is called super built-up area.

The carpet area can be 15-30 per cent less than the super built-up area. However, you will not come to know the exact size until the flat’ss construction has been completed.

Measures to take

Purchase the property based on the carpet area of the flat.
Ensure that this area is mentioned in the agreement.
Try to get a clause included which will ensure that the contract can be terminated if the builder provides a house with the carpet area less than what is mentioned in the contract.

Point 4: Date of possession

The agreement normally mentions a tentative date of possession. However, there have been instances where builders have delayed possession by more than a year.

Measure to take

Check the progress of the construction personally.
If the progress is slow and would not meet the date of possession in a timely manner, build pressure on the builder.
Forming a society with other buyers sometimes helps a lot in getting things to speed up at the builders end.

Point 5: Completion certificate

On handing over the house to you, the builder needs to also give a Completion certificate. a completion certificate is issued by municipal authorities which establishes that the building complies with the approved plan.You would need this certificate for registration of your house and other government formalities.

Measures to take

If the agreement does not mention the certificate, ensure that the agreement has a clause which states that the builder will provide the certificate while handling over the house to you.
If the builder delays a lot, forming a society with other buyers sometimes helps a lot.
Other than these five points there more points such as the quality of the construction, management of the society, For this you can try to add clauses to the agreement or form a society to get the builder to meet your demands. Since there is no industry regulator you can turn to for the redressal of issues, it is important that you are aware of what you want and what you are getting.

Download : Buyers’ Agreement – Regal Gardens – DLF

Article Source:http://www.rediff.com/money/2009/jun/19perfin-read-this-before-signing-agreement-with-builder.htm

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