Supertech Limited — Home buying

Supertech limited like many other builders is exploiting its customers and taking undue advantages unilaterally, in abscence of Real Estate LAW / REGULATIONS- as enlisted below -
AT THE STAGE OF BOOKING :-
(1) it is accepting significant quantam of money (10 to 15% in many Lacs not just a token money in Thousends) from customers even before signing the "BILATERAL Agreement".
(2) most of times it is not ensuring to serve an advance document containing "TERMs & CONDITIONs" at the time of accepting booking money from customer.
(3) money accepted before signing "T & C" document is not being refunded to customer with or without usual or higher interest, in case customer finds himself not satisfied with the deal due to any reason whatsoever.
(4) instead customer is informed that his deposits are converted as EM (Earnest Money) and is threatened to forefeet the same in case of disagreement with the deal ( which was not bilaterally signed by that time ).
(5) customer is then pressurized to sign the ALLOTMENT AGREEMENT letter, unilaterally drafted by the builder. For any reluctance/delay in signing this (so called) agreement, customer is held responsible & threatened to impose a panel interest @ 2% per month on total amount of deal or otherwise to cancel booking of flat by forfeiting the advance deposits considering it as EM.
(6) in absence of relevant LAW/REGULATION, customers have no options and are forced to enter into a endless agreement to be exploited for ever by the builder.
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AFTER AGREEMENT ( which is unilaterally imposed)
(7) subsequent demand letters are sent to customer without giving them sufficient time to arrange timely payments. On any delay customer is charged a huge penal interest @ 2% per month.
(8) Builders intend to delay the handing over the possession of the flat because they draw profit out of it- enlisted below-
(i) Builder have made a provision in their own interest for availing a GRACE PERIOD allowance of SIX months while to customer they are allowing only a GRACE PERIOD of ONE month only.
(ii) Builder does not make himself liable to pay a penal interest of @2% to the consumer while they impose it upon the delays of customers.
(iii) Builder usually raise a demand for final payment much before completing even the PRE-POSSESSION WORKS and again get a chance to impose a penal interest @ 2% in case of non-payment / delay on account of incomplete works.
(iv) Builders are found defaulting even after receiving 100% payments and fail to deliver the flat in READY TO MOVE IN condition but the put customer in such circumstances they have no option but to accept the possession of the flat even with incomplete and substandard quality of work.
(v) Thus builder saves himself from paying the penalty @Rs 5 psf per month, as he succeeds to minimise this period of delay on his part by pressurizing the customer to take early possession even with incomplete / substandard w ork conditions.
(vi) Builders safe guard themselves from penalty due to delays on account of NGT or LEGAL bottlenecks, but consumer's interests suffer the most on this account.
(vii) Penalty clause of AGREEMENT does not contain any provision for WITH-HOLDING the usual 10% or 5 % payments for 1 or 2 years to ensure any quality control upon the Builders.
(viii) Builders hardly respond to any quality / breakdown due to quality, issues after handing over possession of the flat.

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