I want to know whether buying apartments in Kondapur is recommended as there are lots of litigations floating on social media," posts Twishampati on Open House, Magicbricks question and answer forum.
"I'm looking for an apartment in Bengaluru. All the builders in pre-launch say that 2BHK units are sold off and only 3BHK are available. Do they hold and release later?" posted by anonymous Quora user.
There are several other queries from prospective buyers who are trying to understand how they can make an informed decision while investing in real estate. Social media is increasingly being used by buyers to research builder's background, litigations and online consumer forums is being used to gather hands-on information about the seller.
"Thanks' to online activism, today buyers are more vocal about their experience. They readily post their feedback if they have had a bitter experience. It must be mentioned here that in cases of good experience, users seldom use the medium to convey or share with others. This sometimes can be misguiding. However, most of the time buyers' notes usually help others to make their purchase decision," says social media expert.
Case 1
Raghu Shashtri* bought a property in Jaipur from one of the leading builders of the city which had a good track record and reputation online. While construction was going on, the total built up area was increased from 1100 sq ft to 1250 sq ft without informing the owner. As he received notification regarding possession, he was asked to pay more for extra built up area. To this, he referred to a lawyer and got the agreement checked which clearly stated that the builder could not alter plans without informing the buyer. Shashtri took this to online consumer forums. He made sure he post his experience on Facebook, Twitter, Quora, Pin Interest accounts to make his voice heard. Finally, when several more similar complaints start pouring in, the builder came out with a mid-way solution.
Case II
Mohit Saxena invested in a plotted development where he was promised all amenities including internal road, water connection, power cables, etc. However, the specific plot which Saxena owned had some issues which restrained the builder to dig further. Due to this, no boring water facility can be availed. Saxena demanded an alternative plot but as every unit was already sold, the builder offered cash back. To this Saxena got infuriated and was reluctant to take back the money with interest. Moreover, he also challenged the builder on social platforms and made sure that the negative publicity gets viral amongst other buyers.
In case I, where the user's feedback was helpful for other buyers to decide whether or not to opt for properties of the same builder, case II actually listed one of the scenario which went awry and might not be relevant for all cases. Hence, it becomes imperative for any user to judge and measure the information flowing in public domain that it might not be relevant.
However, these days marketing agencies are using online reputation management tool to keep a check on the negative information being floated online. If a buyer posts anything negative about the company, the latter is quick enough to respond to the query or solve the issue. However, some organisations also use it to post false good experiences to boost their brands. This is creating an imbalance in digital world.
Queries like these are also pouring in on social media to seek best property investment available.
It is imperative for the buyers as well as the developer to understand the authenticity of the information being floated online. The social platforms today have a huge reach but the
credibility cannot be checked.
Source: MB
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