Friday, September 13, 2013

Advocate Selvakumar : RER frank talk on Problems Concerning Real Estate...

Problems Concerning Real Estate 


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With the development of Bangalore as LT hub and the excessive influx of people, the demand for houses and house sites has increased tremendously in spite of prohibitive cost of the property

Due to spurt in prices of house sites, the vendors who had sold their land/sites long time ago and who had received the consideration at the rates prevalent then have started feeling aggrieved and are attacking their bona fide purchasers on some frivolous grounds with the sole motive of unjust enrichment. In certain cases, the off-springs and other relatives of the vendors of such properties have come into picture to put forth their claim over the said site/Land on the plea that the sale transaction is void. They threaten the purchaser that they would litigate the matter. 

In few other cases, the purchasers are facing even the worst and unexpected problems in as much as the Vendors are engaging the services of anti-social elements to threaten the bonafide purchasers of dire consequences in case they fail to pay some additional price towards the cost of the land/site. The problem explained above is definitely alarming and the bonafide purchasers are now passing through an unexpected and peculiar problem. 

It is high time that the Government should act firmly and give protection to the bona fide property ownersAny delay in sorting out the problems of the law abiding citizens to protect their legally acquired property would make the people to lose faith in the Government and it may lead to the development of jungle-raj as well.
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