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Buyers force for rate cut for their bookings

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On a recent move at Mumbai realty, the economic capital city has witnessed a mass involvement to reduce the price tag of the housing units booked by them under CIDCO. Sources reported at www.propertykhazana..com reveals that, a mob of around 225 who has booked their flats at ‘Celebration’ now threatens to withdraw the booking if the concern body does not make any negotiation on the price of their housing units.
The agitating buyers states that due to the downfall in global market realty rates have been slashed down to around 35 percent all over and now they ask for few negotiations for their share of rates at ‘Celebration’ and incase the concerned authority denies the fact or does not pay attention to the demands than as a last resort they have to withdraw the bookings. At the same time it is also been cited on www.propertykhazana..com that since the GDP has gone down to 5.3 percent from 9 percent and other relative commodities of construction has gone down to ever low, it is their genuine demands for the negotiation for the flats which were earlier booked with Rs 3450 per square feet and they want a correction nearly up to Rs 2245 per square feet .
‘Celebration’ consists of around total 532 2-BHK flats and 465 1-BHK flats under the sole authority of CIDCO. A Celebration Action committee has also taken place to uplift the issue to a higher level if the concern authority does move forward with positive outlook. But on the other hand joint MD of CIDCO has said at the www.propertykhazana.com that “the CIDCO team cannot take an immediate action on the matter and they have gone through some departmental measures and evaluation with their expert team”. However the first installment of the buyers will be fortified if any one wants to quit the deal as added by joint MD on www.propertykhazana.com.
Source: NBTVLIVE

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