For Consumers Association of India By Members of Club-C, The Consumer Club Of M.O.P Vaishnav College for Women- Chennai, recently done a survey about 'Flat Purchase in Chennai'
Primary Objective
# To check the level of awareness among the public regarding their rights and responsibilities while buying a flat.
# To identify whether flat owners are aware of the legal proceedings which they can choose, when they face any problem.
Secondary Objective
# To ascertain the problems and issues
the buyers have with Builders
Survey Details..!
* Administering of Questionnaire by final year students – face-to-face
* 100 consumers in Chennai – urban, employed, middle/upper middle class
* Geographically spread across Chennai
* Cross check critical responses
* Analysis and comments checked with CAI
Consumer’s Responsibilities
* To be aware of current market price
* To check out Builder credentials before investing
* To check for any deficiencies - internal drawing, amenities etc.
* To carefully study all terms and conditions and understand the implication of various clauses
* To verify if proper approvals and permissions have been obtained
* To demand compensation if delivery is delayed
Highlights of survey result..!
# 96% of our respondents own a flat in Chennai – sign of prosperity/aspirations amongst respondents
# Almost equally spread between small to large size – higher payment capabilities due to dual income + loan availability .The break, up to 700 square feet -20%, 701-1,000 sq. ft - 30%, 1,001-1,500 sq. ft -25% above 1,500 sq. ft - 25%
# Around 60 % of the respondents have purchased their flat in the last decade, particularly in the year 2006 to 2010 – this clearly shows the priorities of the present generation.
# Around 40% of respondents have paid about Rs 5,000 – Rs 10,000 per sq. ft. – On account of the demand/supply equation.
# 75% of the respondents stated that they have received the cost break up in detail
# 40% of the respondents were not aware about the current market price
# 53% of the respondents stated that they received their flats in the same condition, as promised.
Larger part of the deficiencies were in the part of internal drawing and amenities.
# Larger part of the deficiencies were in the part of internal drawing and amenities.
# 20% of the respondents who do not reside in their own flat get rent between Rs. 8,000 to Rs. 15,000 per month, depending on the area where their flat is situated.
# 62% of the respondents stated that the flat was delivered to them on time.
# Main reason is getting the utilities in place on account of approval from government authorities (54%) followed by delay in obtaining bank finance (24%).
# 67% of the respondents did not receive any compensation for the delay which was caused by the builder.
# Out of the 33% who received compensation from the builders, 88% received an ‘ad hoc’ amount.
# Out of the 67% who did not receive any compensation, 75% did not take the matter to the builder and file a complaint.
# The builder did not take any necessary action even after intervention. None of the respondents took the matter to court, fearing long course of action.
Conclusion..!
From the outcome of the survey we found that most of the respondents are not aware of their rights and responsibilities as consumers at the time of purchase, therefore, the government authorities need to step in and regulate the sector.
Conduct:
CAI - Consumers Association of India,
Registered Office: 3/242, Rajendra Garden,
Vettuvankeni, Chennai - 600 115.
Telephone: +91 (044)2449 4576, +91 (044)2449 4578.
Fax: 91-44-24494577
Administrative Office Address
A/5, 2nd Main Road,IInd FloorThiruvalluvar Nagar,
Thiruvanmiyur,Chennai - 600041
Telephone: 91-44 - 2451 3191, 91-44- 2451 3192.
Fax: 91-44-2451 1040
Email ID: info@caiindia.org
#20, IV lane nungambakkam High road, chennai – 600034
Phone:91-44-2833 0262
Email ID: theclubc@yahoo.com.
Primary Objective
# To check the level of awareness among the public regarding their rights and responsibilities while buying a flat.
# To identify whether flat owners are aware of the legal proceedings which they can choose, when they face any problem.
Secondary Objective
# To ascertain the problems and issues
the buyers have with Builders
Survey Details..!
* Administering of Questionnaire by final year students – face-to-face
* 100 consumers in Chennai – urban, employed, middle/upper middle class
* Geographically spread across Chennai
* Cross check critical responses
* Analysis and comments checked with CAI
Consumer’s Responsibilities
* To be aware of current market price
* To check out Builder credentials before investing
* To check for any deficiencies - internal drawing, amenities etc.
* To carefully study all terms and conditions and understand the implication of various clauses
* To verify if proper approvals and permissions have been obtained
* To demand compensation if delivery is delayed
Highlights of survey result..!
# 96% of our respondents own a flat in Chennai – sign of prosperity/aspirations amongst respondents
# Almost equally spread between small to large size – higher payment capabilities due to dual income + loan availability .The break, up to 700 square feet -20%, 701-1,000 sq. ft - 30%, 1,001-1,500 sq. ft -25% above 1,500 sq. ft - 25%
# Around 60 % of the respondents have purchased their flat in the last decade, particularly in the year 2006 to 2010 – this clearly shows the priorities of the present generation.
# Around 40% of respondents have paid about Rs 5,000 – Rs 10,000 per sq. ft. – On account of the demand/supply equation.
# 75% of the respondents stated that they have received the cost break up in detail
# 40% of the respondents were not aware about the current market price
# 53% of the respondents stated that they received their flats in the same condition, as promised.
Larger part of the deficiencies were in the part of internal drawing and amenities.
# Larger part of the deficiencies were in the part of internal drawing and amenities.
# 20% of the respondents who do not reside in their own flat get rent between Rs. 8,000 to Rs. 15,000 per month, depending on the area where their flat is situated.
# 62% of the respondents stated that the flat was delivered to them on time.
# Main reason is getting the utilities in place on account of approval from government authorities (54%) followed by delay in obtaining bank finance (24%).
# 67% of the respondents did not receive any compensation for the delay which was caused by the builder.
# Out of the 33% who received compensation from the builders, 88% received an ‘ad hoc’ amount.
# Out of the 67% who did not receive any compensation, 75% did not take the matter to the builder and file a complaint.
# The builder did not take any necessary action even after intervention. None of the respondents took the matter to court, fearing long course of action.
Conclusion..!
From the outcome of the survey we found that most of the respondents are not aware of their rights and responsibilities as consumers at the time of purchase, therefore, the government authorities need to step in and regulate the sector.
As a Consumer, Know your Responsibilities with your Rights.
Conduct:
CAI - Consumers Association of India,
Registered Office: 3/242, Rajendra Garden,
Vettuvankeni, Chennai - 600 115.
Telephone: +91 (044)2449 4576, +91 (044)2449 4578.
Fax: 91-44-24494577
Administrative Office Address
A/5, 2nd Main Road,IInd FloorThiruvalluvar Nagar,
Thiruvanmiyur,Chennai - 600041
Telephone: 91-44 - 2451 3191, 91-44- 2451 3192.
Fax: 91-44-2451 1040
Email ID: info@caiindia.org
The Consumer Club Of M.O.P Vaishnav College for Women
#20, IV lane nungambakkam High road, chennai – 600034
Phone:91-44-2833 0262
Email ID: theclubc@yahoo.com.
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