Change of plans im­pact buy­ers

HT Estates - - FRONT PAGE -

De­lay in com­ple­tion: Any change in sanc­tioned plan after al­lot­ment is dis­cour­aged by the UP Apart­ment Act 2010. In case a developer changes the lay­out plan and starts con­struc­tion again, it re­sults in projects get­ting de­layed

Re­duc­tion in the pro­por­tion­ate share: The change in lay­out plan and in­clu­sion of more flats in a group hous­ing pro­ject re­duces the un­di­vided share of a home­buyer in com­mon ar­eas and fa­cil­i­ties

Change in light/air: De­vel­op­ers of­ten change the lay­out plan and en­croach upon the green ar­eas to con­struct high-rise tow­ers. This ob­structs light, air and the view from many apart­ments

Change in Vaastu: Many home­buy­ers claim that change in the lay­out plan mid­way im­pacts the Vaastu of their apart­ments. Whether an apart­ment is Vaastu com­pli­ant is of­ten the most im­por­tant cri­te­ria for se­lect­ing an apart­ment for some buy­ers

In­crease in fi­nan­cial bur­den: De­lay in de­liv­ery of a unit puts fi­nan­cial pres­sure on a home­buyer who of­ten ends up pay­ing both the EMI as well as rent. UP Apart­ment Act 2010 puts a check on de­vel­op­ers. They can­not avail ad­di­tional FAR be­fore shar­ing com­mon ben­e­fits with the al­lot­tees

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