Recently along with my NRI friend I went to see plots at Rajakilpakkam. I wrote about few days back here. As I wrote my NRI friend decided to purchase a plot in Tellus Avenue and he paid the advance and obtained copy of the parent documents for legal opinion. The legal opinion was negative on account of lack of details with regard to one particular name transfer happened with regard to the property. When Tellus Avenue promoters were contacted for further details, the reply you get was something like this:
" IDBI Bank has approved the project and there are already 25 people or so who have registered the plots. So you dont worry about the legal opinion and you can go ahead and register".
I think this is not the right way to convince the prospective buyers. You cant just rely on the fact that some institution is willing to lend money to buy a piece of land, which really costs you a fortune. We all understand the levels the business ethics and integrity levels have gone down in the society, so unless all documents are clear, you can't just go ahead and purchase. Last heard, my NRI friend has taken back the advance truly dis-satisfied with the explanation given.