In this second part of a series of survey findings, we bring to you the average time taken by builders in the region during different phases of an under construction project. The figures were arrived at after taking the average of responses from 600 buyers for each and every phase. The responses were taken from buyers assuming a 15 to 20 acres project with more than 12 G+14 towers.
The above chart shows time taken in months for different phases.
It is clear that the builders take a lot of time in finishing internal/external tower work along with common area development. The main reason attributed to do this is the fact the builder already pockets around 80 to 90% of the total amount by the time finishing starts. Hence, very little incentive is left to the builder. Unless the builder is honestly customer oriented, this is unfortunately the most commonly seen trend.
Given below is a typical builder plan for execution of an under-construction project.
Builders tend to apply for occupancy certificate even before the work is complete in all sense which amounts to cheating with the buyers.
However, most of the builders offer possession of a 15 to 20 acres project in around 5.5 to 6 years time. Those taking more time than that fit very well into the ‘should be banned’ list. Trend of delayed projects in NCR far exceeds that in Bangalore and Chennai for reasons ranging from approval to builder profile.
Last updated: November 5, 2014 at 19:15 pm