Consumers must be vigilant while buying Timeshare: AIRDA

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All India Resort Development Association (AIRDA), issued guidelines in the interest of all prospective timeshare buyers in the country.

AIRDA is an independent, non-profit advisory dedicated to the timeshare and vacation ownership industry in India with the aim to consolidate efforts towards building a safe, stable and robust organised sector for timeshare in the hospitality industry.

As per AIRDA guidelines, consumers keen on buying a timeshare must keep note of the following:

· Purchase timeshares from AIRDA accredited & RCI affiliated resorts only

· Be wary of timeshare sales people who do not reveal the purchase price upfront

· Check for complaints about the seller, developer and management company

· Don’t act on impulse or be swayed by high-pressure sales tactics

· Think of a timeshare purchase as a lifestyle purchase, not an investment

 

B S Rathor, Advisor & Member Executive Committee, explains that the purchase of a timeshare, a gateway to vacations at premier resorts in popular domestic and international destinations is often an emotional decision. However, it has come to the notice of AIRDA that various fly-by-night timeshare operators are misguiding potential timeshare buyers and fraudulently selling memberships and falsely claiming to get exchanges anytime with resorts operating under the purview of AIRDA. The commissions offered on sales for such memberships range between 70%-75% which is a matter of serious concern as with 25% remaining, these developers cannot sustain long term-servicing of the needs of members and their vacation interests. These operators will eventually close down because this method of operation is non-viable.

With an aim to educate the consumers, AIRDA advises visiting their website for authentic and official information, and avoid being misguided by unscrupulous elements.