India, Oct. 10 -- Second-generation entrepreneur Shubham Gupta, 31, who is also a real estate developer, recently unveiled his maiden book, The Dark Secrets of Real Estate: What the Industry Doesn't Want Buyers to Know, at the Chandigarh Press Club. The book explores the hidden challenges confronting property buyers in the country. The 215-page book, written over a period of around one-and-a-half years, seeks to educate homebuyers, particularly first-time buyers, about the legal, technical and financial aspects they should examine before purchasing a property. Gupta said buyers often visit several properties, meet builders and are presented with attractive amenities and offers, but may not know what questions to ask before committing a substantial amount of money. "My objective in writing this book is to educate and inform homebuyers, particularly first-time buyers, so that they understand what they should look for and what questions they must ask before purchasing a property," he said. The author has emphasised that buyers should examine the builder's profile and track record, the technical quality of construction, and the project's legal and regulatory status. They should also verify Real Estate Regulatory Authority (RERA) registration and quarterly progress reports, and make physical visits to project sites rather than relying solely on presentations at sales offices. Gupta said he has given a lowdown on what prospective buyers should examine in construction specifications, including the structural framework, RCC construction, concrete grades such as M25 and M35, cement and concrete quality, and the quality of steel used in the project. "Luxury and presentation at a builder's sales office should never substitute for due diligence. A buyer has to look at the actual project, its construction quality, documentation, approvals and the financial standing of the developer," he said. The real estate expert said documentation was another critical area requiring careful scrutiny. The book impresses upon buyers the need to verify ownership and title records, the mother deed, non-encumbrance certificate, relevant government records, the registry in the builder's name, the applicable 'khasra' number and the agreement to sell, wherever applicable. He also cautioned buyers against making decisions solely on the basis of claims surrounding 'pre-launch prices', limited availability or artificial urgency created during the sales process. "Real estate is not automatically a good investment merely because it is real estate. Buyers need to assess the location, legal status, developer's credentials, financial position, pricing and future prospects before committing their money," Shubham said. Gupta has been associated with the real estate sector since 2018. He said his experience had been built through working closely with civil engineers and other professionals, as well as through independent research into development and construction practices. Calling for greater transparency in the sector, he said relevant project information and major builder-related transactions should be accessible through appropriate public platforms. "There is a need for greater transparency and stronger systems to monitor project-related funds. The objective should be to create a real estate ecosystem where transactions are transparent, legitimate and accountable, with no scope for black-money transactions," he added. Gupta said that his book also educates buyers about taxation, available tax benefits and rebates, and the need to verify their eligibility before making investment decisions. "If buyers are better informed and ask the right questions, it will not only protect their individual interests but also contribute to a more transparent, accountable and quality-driven real estate industry," he concluded. HTC...