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Is it fair to link home price with WPI?- Property Hotline
Posted
September 20, 2016
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8
September 20, 2016
8
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4:24Now PlayingExpert: Uday Wavikar, VP, Consumer Court Bar and Association.
Question: I bought an under-construction property in Gurgaon. I have signed the builder-buyer agreement. The builder has linked the price of the property to Wholesale Price Index (WPI). Possession is expected in November so if builder ask for extra money during the possession should I pay that amount?
Answer: WPI is just a commodity; real estate does not come into it. Builder can’t have fluctuating prices in an agreement. Changing prices in development agreement is unfair trade practice. You can go to consumer court for unfair trade practice.
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