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Articles: My Experience | Beware of Realtors - Ms. Malika Malika
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Be careful before you give advance to book flats in one of those 'mega ventures' in and around Hyderabad. If it so happens that you change your mind and want your advance back, these builders/developers are charging 12.5 to 15% of your advance amount as 'administrative charges'. They dont talk about it before, and even give you the impression that you'll get all your money back incase of a cancellation.
We are recently returned NRIs and were looking for a nice flat to buy around Hyderabad. We booked a flat in kompally and paid 2 lacs as advance. But 15 days later, we had to travel abroad again, so had to cancel it. They asked for Rs.25000 as administrative charges, but finally came down to Rs.15000. And that too in cash.
So Beware
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