The Real Estate Sources told the NBTV that the CRISIL, the Rating Agency, has advocated both the Housing Boar Corporations and the State Governments to create more wakefulness on the importance of ranking in the development of a Land Property ventures, in the creation of equal role play. Sources further added that according to the CRISIL authorities, that despite the slew of land property ventures in the country, lack of knowledge and alertness necessitated a few to rank their ventures, basing on which the prospective buyers of the apartments can decide about the quality etc. before taking final decision regarding buying the dwelling.
The CRISIL CRISIL Head, Corporate and Infrastructure Ratings Akash Deep Jyoti told the Sources further that while there are over 50,000 small and big land and property developers in the country,only a paltry 60 numbers have come forward to rate their ventures. This rating system will come to the rescue of the Developers to focus on transparent well maintained operations. He further told the sources that this needs further co-operation from the Housing Boards, State Goverenments et al.
Akash further emphasized that many Developers lure the prospective buyers highlighting the facilities, comforts etc. provided in the dwellings while the the truth will be on completion and occupation of the dwelling one can find many deficiencies compared to the promises made to the buyers. As a result of these deficiencies and non-compliance with the agreements the buyers would have entered into, some strong buyers seek redressal and at times compensation, due to lack of deficiencies in their services, through various forums.
Source: NIMMA BENGALURU
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