Hello sir,
My commercial office space in an IT park was purchased under an understanding that builder will lease out entire floor. although finding a small reason he did not put it in writing but maintained my space in same floor which was to be leased out. Now After trying for two years he has not been able to lease out and passed on the burden to owners, stating a clause that more than 50?% owners want the possession and right to lease out themselves. Purchasers in floor do not know each other, and so builder's claim whether 50% are really asking is unproved. After possession letter sent builder is now claiming previous two years CAM Common area maintenance at rs 18.5/sqft, amounting to rs 35,000 per month on a 1 crore rupee property. Investors invested for ROI, now it is negative ROI for them and instead of Asset it is Liability, that owners have to pay builder a hefty maintenance amount in their own property. Note that compared to other residential properties in same Noida area, the actual expenses should not be more than rs 2/ sq Ft for CAM. But right to decide Common area maintenace is not with customer but builder as per contract while customers have no right to seek benefit of the revenues earned from CAM, that too goes to builder. In nutshell, the cost of maintainign common area is passed on to unit investors in premises, while benefits from common area goes to builder. that too maintenace expenses cannot be decided by the customer taking the burden. this is totally unethical and must be proved illegal. Note that such contract terms were passed on to us only after 90% payment was done, and initial sale deed template was different. Pls let us know how totake control on mainenace expenses and prove this contract illegal without riskign the ownership on the space invested.
