Realty rates are dropping, builders are forced to arise with pioneering schemes in order to encourage the purchasers, Price guarantee scheme (PGS) is one in such offering which is given by the builders. This scheme was launched by the members of Confederation of Real Estate Developers Association of India (CREDAI) Karnataka and is special as it is beneficial for the purchasers but not for sellers. As said in the scheme, the purchaser will regain the deviation amount if the builders sell the flats at a less rate than the amount taken from the farmer. The scheme is like, if a purchaser obtains a 2 BHK apartment for about Rs. 25 Lakhs at a flat complex having of about 55 units, he sells the leftover units for less than Rs. 25 Lakhs for per unit and the purchaser who acquires the apartment at Rs. 25 Lakhs will regain the deviation, added the source at the www.propertykhazana.com.
Secretary of CREDAI, Karnataka said to www.propertykhazana.com that, “Majority of their members are carrying out the PGS and by this way the purchaser won’t feel that he has been beguiled by the builders.” CREDAI members are not just the people who are starting the scheme, but there are CREDAI members who give the similar scheme. As some of them honor the PGS, others never bother to compensation the deviation; he wanted purchasers to come to a reputed builder as they can find out the problem which occurs in future. He said if a purchaser, who books an apartment from our members, faces any problem in possessing the property we will take up the issue with the concerned builder.
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