VMPL
Chandigarh [India], October 3: The Dark Secrets of Real Estate: What The Industry Doesn’t Want Buyers to Know, a new book aimed at helping property buyers understand the legal, technical and financial aspects of real estate purchases, was unveiled at the Chandigarh Press Club.
The 215-page book seeks to serve as a practical guide for homebuyers, particularly first-time buyers, covering areas such as developer credentials, construction quality, project approvals, RERA compliance, property documentation, taxation and financial due diligence. The book was written over a period of around one-and-a-half years.
Among the key issues addressed in the book are the checks buyers should conduct before committing funds to a property. It encourages prospective buyers to examine a developer’s track record, verify RERA registration and quarterly progress reports, review legal and ownership documents, and physically inspect project sites rather than relying solely on sales presentations.
The book has been authored by Shubham Gupta, a 31-year-old second-generation entrepreneur and real estate developer, who has been associated with the sector since 2018. Gupta said his experience of working closely with civil engineers and other industry professionals, along with his independent research into construction and development practices, shaped the book.
According to Gupta, the idea for the book emerged from his observation that buyers often visit multiple projects and are presented with attractive amenities, pricing and offers, but may not always know the right questions to ask before making one of their biggest financial commitments. His objective, he said, is to make important real estate concepts easier for ordinary buyers to understand.
“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,” Gupta said.
The book also explains construction-related specifications that buyers may encounter, including structural frameworks, RCC construction, concrete grades such as M25 and M35, cement and concrete quality, and the quality of steel used in a 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,” Gupta said.
A significant section of the book focuses on property documentation. It advises buyers to examine ownership and title records, the mother deed, non-encumbrance certificate, relevant government records, registry documents, applicable khasra numbers and the agreement to sell, wherever relevant.
The book also cautions prospective buyers against making decisions solely on the basis of claims around “pre-launch prices”, limited availability or 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,” Gupta said.
Other sections cover taxation, applicable tax benefits and rebates, and the importance of verifying eligibility before making property-related financial decisions.
Gupta has also used the book to make a case for greater transparency in the real estate sector, particularly around access to project information and monitoring of project-related funds.
“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 said.
Gupta added that better-informed buyers can contribute to improving accountability across the sector.
“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.
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Book ‘The Dark Secrets of Real Estate’ Authored by Shubham Gupta Unveiled
