October 19th, 2017
Homebuyers in India are facing chronic crunch with respect to delay in delivery of flats. Recently, the National Company Law Tribunal(NCLT) has initiated insolvency proceedings against the real estate giants, Jaypee Infratech Private Ltd. and Amrapali Infrastructure. Due to the insolvency proceedings initiated against them homebuyers are left in a lurch because as per the Insolvency and Bankruptcy Code the interest of financial creditors have precedence over the interest of the homebuyers. Taking into consideration this bleak situation of real estate sector home buyers are fearful in investing in property.
Before you invest in real estate, here are the following points you shall keep in mind-