Wait And Watch Prices Drop

Titoo Ahluwalia, director, ORG Marg, holds up the findings of a random survey, conducted in cities like Mumbai, Delhi and Pune. These only underline the above attitude -- one of complete mistrust on the part of consumers. The samples had this to show: first, the builder, a much distrusted lot. They are capable of only frauds; they fail to deliver on quality, meeting schedules and staying within the budget. Next come the financiers, who were accused of hiding add-on costs and penalties in fine print. And the lack of transparency drove buyers mad. Then comes Big Brother's bid to add to their woes: formalities and documentation procedures are mired in legalese. No one could make any sense. In the end, buyers sign without knowing what one is agreeing to. "Bleak scenario,"is Ahluwalias verdict.

Niranjan Hiranandani, MD, Hiranandani Constructions, protests. "Purchasing a flat is like buying a shirt," he says. "If you pick up stuff from the pavement, it is bound to let you down." The solution: Buy Raymonds. Likewise, probe the builder's `bonafides'. That is, "look at the brand name, reputation and track record. Also, deal with agencies like Citibank, HDFC, etc. to doublecheck. For information, look at the right place."

I M Kadri, architect and former sheriff of Mumbai, believes that means setting off on a wild goose chase. No worthwhile information is forthcoming from any quarter for a legitimate buyer. He says that anyone can become a developer, contractor or a builder withoutY>