Realty Check
I received a phone call from SJR's legal department on 04th June 2008 claiming that the contents of the post were defamatory. Consequent to that I have modified the post until I get legal counsel on whether SJR has for suing me.
The Realty industry in India is booming. Yet, none of the builders and promoters display the organizational maturity, commitment and accountability that other industries show. This, inspite of the fact that some of these builders are listed in the stock exchanges. Some builders are turning around, showing early completion, etc. The truth however is that many of them - even Tier I and II builders are riddled with problems and apathetic towards their customers. Customer satisfaction is a facade that exists only until you sign the dotted line. Once you do that, you will be guaranteed quite a lot of misery.
The latest trend in the Realty industry is to promote "luxury" apartments. At a higher price point, they seduce the customers with promises of better service, top-notch quality and delivery on schedule. The picture they paint when you book the apartment is a bed of roses. Very soon, you will realise that what you have chosen is a path carpeted with thorns.
Best of luck, fellow apartment owners! May the force be with you!
In the meanwhile some facts:
1. My construction agreement with SJR for my apartment in SJR Verity sets the delivery date for February 2008 with a 3 month grace period. It is past that date and SJR now claims that my apartment will be delivered only in September.
2. I received an email from SJR in Jan 08 stating that handover would begin in March and continue for 3 months from then. Again in April after sending another mail about status, I was told that my flat would be handed-over for interiors by July 08. The last update from SJR said the apartment would be in livable state only in September. That's a delay of 7 months.
3. SJR Brooklyn has been delayed by more than a year.
4. About 50 SJR Brooklyn customers staged a protest in front of SJR's corporate office on May 24th 2008.
5. SJR management has promised to set things right. We're waiting to see how it goes.
