Plot development in Mysuru: investors feel cheated

There is a lack of protection against fly-by-night operators

June 02, 2015 12:00 am | Updated 05:55 am IST - MYSURU:

Plot development by private players has proliferated around Mysuru.— PHOTO: M.A. SRIRAM

Plot development by private players has proliferated around Mysuru.— PHOTO: M.A. SRIRAM

Complaints of poor amenities and substandard works in private layouts around Mysuru have underlined the growing exploitation of investors by land developers in the city.

While pointing to the lack of credibility of many developers, it also underlines a lack of protection to customers against such fly-by-night operators.

Redressal mechanism

Mysore Grahakara Parishat (MGP) president R. Chandra Prakash pointed out that the only grievance redressal mechanism available is to approach the consumer forum or lodge a civil case against the developers, which can prolong the matter indefinitely. “Hence, most buyers suffer silently and do not fight, and this is exploited by some of the real estate developers,” said Mr. Chandra Prakash.

There are not less than 850 such layouts under various stages of completion in and around the city, as per information provided by the Mysore Urban Development Authority (MUDA) under the RTI Act in 2012, said M. Lakshman of the Association of Concerned and Informed Citizens of Mysore (ACICM). “These numbers may have crossed 1,000 by now,” he added.

Though there are reputed builders and real-estate developers in the city who deliver what was promised, there are many people in the business who operate out of Bengaluru, Hyderabad or other cities, and local investors can neither track them nor have the wherewithal to fight them in court, he said.

“At least 50 to 60 per cent plot buyers are investors with a long-term horizon, and based in Bengaluru or other cities . So, not withstanding the delay in delivery they do not complain. But the remaining want to build a house and settle down in the city and they become the victims, he stressed.

Most buyers suffer silently and do not fight, and this is exploited by some of the real estate developers.

R. Chandra Prakash

Mysore Grahakara Parishat president

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