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By zameensapna on May 18, 2010 |Business
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Buoyed by reviving investor confidence, positive market sentiment and increase in demand, India's real estate sector is growing at a remarkable pace. However, the other side of the coin tells a different story. The highly unregulated real estate sector is fraught with the harsh reality of project abandonment, cancellations and prolonged litigations.
Instances abound of property buyers suffering steep financial losses as a result of misrepresentation and concealment of essential information by developers.
For instance, terms like `super area' and `various internal and external development charges' are loosely employed in an attempt to conceal actual floor area to be handed over and final/actual costs a buyer will ultimately bear. Undoubtedly, such information is crucial to a buyer deciding
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