Free Rental Service in Real Estate – Good or Bad??

Even though the RERA-regulatory body for real estate has knocked the doors of the Indian economy since May 1, 2017. The act provisions are still not able to catch hold of certain practices which keep aloof the home-buyers as well as commercial property buyers from getting be fooled by real estate developers schemes like a free rental scheme, rental assurance, rental returns, etc.

Several cases have come into the light in the past few years on similar lines. Buyers complain about the different types of offers given by the developers while purchasing the properties but never fulfill them. In the end, it’s the buyers who are at the loss. The entire real-estate industry receives a huge bad worth of mouth due to such malpractices that keep happening over the years.

So, what exactly happens under free rental offer?

It is an offer or a scheme being promised by the developer to their buyers to pay their current rent of the property they are living in up to a certain amount. Somehow the developer doesn’t keep up their promises and rest is the buyers who continue to be be fooled.

But what can be done to it?

Buyers must understand while investing in a property that whichever developer they choose should have a clean track recorder and in past has delivered his promises. There is the RERA website of each individual state. The buyers can check these to check the authenticity of the developer. The developer and their projects, everything must be registered with RERA and the project must have a RERA number. The buyer should also make frequent visits to the property site to invigilate the actual growth of the project also meet the office staff for better clarity.

If at all, they are being promised with such offers and are not fulfilled in due course of time, they must file a complaint to RERA. This way the matter becomes legalized and the particular developer comes under the legal eye. Also with RERA onboard such issues are taken up very seriously and each buyer has a representation of the wrong done.

One trustworthy commercial property based in Noida sector 75, known as Spectrum Metro. It comprises of one of the largest inventory having well-planned office spaces, shops and entertainment area where the investor/any user who wants to start his own business or a company can purchase at attractive prices. It has specifications that can be availed by any of the customers.

If we talk about connectivity in and around this region then you can go through all the way in the shortest time frame. The minimum distance, direct root, less traffic, etc all these measures for any retail complex for the prime location. The recently launched Noida Sector 50 Metro is at the doorstep of the most desired high street commercial in Central Noida and the location community is planned where most builders are delivering their residential projects.

The project is well supervised by the Noida Authority which assures that the project would not get delayed in the possession and the deliverable promised by Spectrum Metro are fulfilled without any confusion. Owing to the current market scenario and after many cases of defaults recently, the involvement of Noida Authority through a reputed audit firm is a decision that is appreciated and trusted by the stakeholders. Also, the project comes under the RERA guidelines and abides by the points to maintain transparency while it is under construction.

With work going on a fast pace, Spectrum Metro is in a win-win position for stakeholders including developer, Buyers and Noida Authority and it will fulfill the dream of people connected to it very soon. Hence, the credibility has another name for ‘Spectrum Metro’. They never indulge themselves in any kind of fake and baseless offers rather believe in quality work and customer satisfaction. They deliver what they promise. So, anyone can consider them as a valuable developer for their next commercial purchase.