Before the property bubble burst and even today, real estate
was and remains an attractive investment option that offers high returns and is
safe. However, real estate investment is not roses all the way. Several
investors, lured by the fantastic rate of returns in property have rushed to
invest in projects without taking the trouble to verify credentials. What has
happened is that there are millions of square feet that got off the ground but
were never completed.
These properties are still at a construction stage and
work has stopped in quite a large number of cases. Investors who hoped to reap
rich rewards find their monies blocked and no solution on the horizon. These
few might be considered luckly. In quite a few cases, investors found to their
chagrin that the projects existed on paper and the promoters did a vanishing
trick once they collected enough deposits.
You are lucky if you can find the builder or the broker and they are
straightforward enough to offer a full refund.
On the other hand savvy investors made smart investments after careful
scrutiny of the real estate project and the promoters. The projects got off the ground and investors realized
returns.
Never trust anyone, not
beautifully printed catalogues handed out by builders or the sweet honeyed
voice of brokers. It is your money. Take some trouble to visit the site,
check and make sure the project does
exist and if you have doubts, have a lawyer carry out checks before you part
with cash.
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