Principal to agent is a legit transaction. I'm from the legal field , but I missed this point which Ure making. Bloody hell , u ve got a fantastic legal acumen.... Good work urban naxal. I learn a lot from u It not the information, but u provoke a person to think....thank u
Yes, in the absence of such authorised legal agency, such intermediary will be de-facto considered a buyer's broker and transactions entered therein will not be binding on the "perceived principal party", i.e. the builder, in this case. This is not like insurance agency where agents have IRDA licenses and intermediary codes in which they book business and are clearly company's authorised agents.
Government must amend the law and make builder liable of sales and third party negotiators liable for commitments, specially if they are making such commitments sitting in builder office
The idea of intermediary is very appealing to builders. Builders want rights but don't want responsibilities or liabilities. Even when builder representative is directly in the position of society office-bearer, even then he will create layers of fictitious sub -societies /pseudo -societies to avoid the questions of housebuyers who become shareholders of society after purchase.
Thats the exact same technique which builders like VTP use. They never let you beyond the Channel partner n sales guy. No matter how much you shout or escalate they don’t introduce you to anyone higher. But while selling the flat their CEO also shows up approving fake discounts. Stay away from such builders
Hello! Our society is going into redevelopment. Just after finalizing the developer, we are about to get the notice from the corporation that the building is not safe to stay. I felt something was fishy just because of the timing. And Why notice if it is already going in the redevelopment. What do you think?
You're expecting too much from RERA. It's just another empty vessel with more red tape. Just avoid under construction properties. Buy smaller than required resale units if need be (i.e. to fit into EMIs you can afford) and flip or build with permission thereon to make it into what you want.
But how can a intermediary sell a company's flat without company's permission. Say tomorrow I become a self declared intermediary of Bajaj builders and start selling their flats, then will the bajaj builders keep quiet.
Krishnaraj -- zyada shahanpana karnewale ko builder bhi flat nahi bechta ,--- tu ultimatly zhopdi me rehna padega--- tum personally koi bhi builder se flat kharid ke dikhav -- challenge hai mera
But why the fuck builder allow Channel partner too sit at his site. WHY!!! Answer is, builder donot want end user in the site, he wants only investor. A very big level of sales manager from Signature global told me this thing in the signature global office itself(Signature tower). No body wants end user, becuse end user will do all RnD but investor is only concerned about his money to get back.
But finally, there's got to be a sucker, no? In this case, I guess they're banking on an ill-informed retail investor with papap ka retirement/inheritance fund to udaao. Everyone else earns but the last fellow in the chain who's stuck with the pile of you know what.
Principal to agent is a legit transaction. I'm from the legal field , but I missed this point which Ure making. Bloody hell , u ve got a fantastic legal acumen.... Good work urban naxal. I learn a lot from u
It not the information, but u provoke a person to think....thank u
Yes, in the absence of such authorised legal agency, such intermediary will be de-facto considered a buyer's broker and transactions entered therein will not be binding on the "perceived principal party", i.e. the builder, in this case. This is not like insurance agency where agents have IRDA licenses and intermediary codes in which they book business and are clearly company's authorised agents.
Government must amend the law and make builder liable of sales and third party negotiators liable for commitments, specially if they are making such commitments sitting in builder office
The idea of intermediary is very appealing to builders. Builders want rights but don't want responsibilities or liabilities. Even when builder representative is directly in the position of society office-bearer, even then he will create layers of fictitious sub -societies /pseudo -societies to avoid the questions of housebuyers who become shareholders of society after purchase.
You made your point well using the channi. "Props" to you! (bad dad joke, I know, but couldn't resist. 🙂) Keep 'em vids coming, Krish.
One big question. No intermediary will reveal that he is a middle man.
Thats the exact same technique which builders like VTP use. They never let you beyond the Channel partner n sales guy. No matter how much you shout or escalate they don’t introduce you to anyone higher. But while selling the flat their CEO also shows up approving fake discounts. Stay away from such builders
Great Krish ji Thanks for the information. Valuable information.
Great information which seems to be derived from experience.
Great information
But i dont understand why would someone pay a token without a agreement of understanding
As usual a masterpiece
But didn't get how does it help one to purchase a flat? These all techniques will take one to not purchase a flat.
Law system in India is hopeless. More and more people want to leave India and setting abroad because of hopeless systems in India.
Hello! Our society is going into redevelopment. Just after finalizing the developer, we are about to get the notice from the corporation that the building is not safe to stay. I felt something was fishy just because of the timing. And Why notice if it is already going in the redevelopment. What do you think?
Let there be provision in RERA to inspect the legal papers relating to authorised signatories who signs sales agreement, sales deed etc..
You're expecting too much from RERA. It's just another empty vessel with more red tape. Just avoid under construction properties. Buy smaller than required resale units if need be (i.e. to fit into EMIs you can afford) and flip or build with permission thereon to make it into what you want.
💯
But how can a intermediary sell a company's flat without company's permission. Say tomorrow I become a self declared intermediary of Bajaj builders and start selling their flats, then will the bajaj builders keep quiet.
Sir, I want to connect with you.I’m stuck in a big way.
Ye sab toh tab hoga when you go there. Why to go there and remember the chacha...no need to go there.
Welcome to Hindu Rashtra of builders and mafias
Krishnaraj -- zyada shahanpana karnewale ko builder bhi flat nahi bechta ,--- tu ultimatly zhopdi me rehna padega--- tum personally koi bhi builder se flat kharid ke dikhav -- challenge hai mera
But why the fuck builder allow Channel partner too sit at his site. WHY!!! Answer is, builder donot want end user in the site, he wants only investor. A very big level of sales manager from Signature global told me this thing in the signature global office itself(Signature tower). No body wants end user, becuse end user will do all RnD but investor is only concerned about his money to get back.
But finally, there's got to be a sucker, no? In this case, I guess they're banking on an ill-informed retail investor with papap ka retirement/inheritance fund to udaao. Everyone else earns but the last fellow in the chain who's stuck with the pile of you know what.