It may not grab as much attention as the online campaign to send pink lingerie to the Sri Ram Sene, but home buyers across the country are coming together in online groups to negotiate with developers such as DLF Ltd, Raheja Developers Pvt. Ltd and Vatika Ltd over several contentious issues, the prime among them being a reduction in prices in the wake of the lower demand for housing.
Around 950 buyers of DLFs Garden City project on Old Mahabalipuram Road near Chennai have banded together on Google Groups, an online group run by the eponymous Internet search giant, to put pressure on the developer on several issues. DLF Garden City is a 3,493 apartment project, of which 1,800 apartments have been booked so far. Top on the demands is that DLF reduce prices of apartments by at least 25%.
On Monday, DLF announced a price cut of between 10.5% and 18% on the apartments from Rs2,800 per sq. ft to Rs2,500 each, from Rs3,000 to Rs2,550, and from Rs3,200 to Rs2,600 per sq. ft depending on which stage the buyer comes in. DLF is also offering a special price of Rs2,650 per sq. ft till 1 May, after which it will be revised upwards by Rs100 each.
More : livemint.com
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