We have been reading and listening of the assured returns schemes since long now- however even after multiple instances of cheating many directors going behind bars - Investors are still falling in the trap .
The RBI banned such assured return schemes almost more that an year and a half ago , the developer still marketing these schemes with multiple lucrative schemes. So, what are these new traps the developers have designed for us
Let's have a look
a. Assured returns : The scheme comes with lucrative interest returns being offered on down payment of upto 95% of the cost of the property and payable till possession - basically an overpriced property sold to you - to give you interest paid by you in advance to the developer.
b. Subventions Schemes : 20:80 , 30.40.30 etc etc are schemes offered where the developer raises finances from the banks on the basis of your financial capabilities enjoys the money paid by you in advance on the term of developer paying interest on your loan - for those who understand it well - thats again a trap
c. Barter Trading: The developer offers purchase of your existing property and the money at which the property is bought at - the developer gives you under construction property worth same amount in any of his project.
AND MANY MORE
SO what should be done : Long Story Short
Buy - Invest ONLY
a. from developers with clean track record
b. in the project where the construction has been started
c. strictly under the construction link plan
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