Common Fallacy about Real Estate in India
Even experts find it difficult to unmask all the misconceptions about the real estate industry. The common public is often misinformed with various false information and it has been happening for more than a decade. The blame cannot fully land on the public because sometimes the developers also are involved in some malpractices like deliberately delaying projects which results in many distressed buyers in the market.
Many at times the developers often cite legal and civic bodies prevailing in the system as reasons for delay in delivering the projects to the customer. The prevailing conditions of corruption in the bureaucracy should also be taken into account at various stages of project establishment. But there are still good developers like Jain Housing who deliver projects on time as promised.
For the sake of self preservation, it is very important that the people who are planning to invest in property should do proper financial planning. They should decid well in advance e whether they are planning to make it as an investment or for their dream home.
People should also try to take well informed decisions and should try to avoid believing that the real estate prices will always increase. Rocketing prices in the real estate market, which may not last for very long is yet another reason for the people falling in such deceiving traps.