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Aditi Oberoi
ATZ Areva's delivery timelines are a big concern
ATZ's last 3 projects in Bengaluru saw 12-18 month delays, for real. I'm looking at ATZ Areva, price ₹1.16 Cr, but builder ka delivery track record makes me skeptical. What's the resale value like agar possession late hua? Any investors here jo ATZ projects mein pehle invest kiye hain? Is there an active secondary market for their properties? Not sure if this is a calculated risk or just bad planning.
#atz-areva#project-delivery#resale-value#builder-track-record#investor-risk
Comments
Honestly, ATZ ka naam sunte hi darr lagta hai. I know someone who invested in their project in Adigara Kallahalli, and it was a mess. They waited for almost 2 years extra. The resale market for delayed projects is almost non-existent unless you sell at a huge discount. For a first-time buyer, this is too much stress. Maybe look at other builders with a better track record, even if it means paying a little more or compromising on size.
My broker was pushing ATZ Areva hard, saying it's a 'great investment opportunity'. But after reading reviews and seeing this post, I'm having second thoughts. Bengaluru market is already a bit tricky right now with interest rates. Buying into a delayed project could be a nightmare. Is there any way to check the actual construction progress beyond what the builder shows?
Hey, I actually checked out ATZ Areva on the RERA portal. The RERA number is PRM/KA/RERA/1251/446/PR/210705/004180. It shows the possession date as 2026-06-01. But RERA dates can also be extended, right? The total units are 144, so it's not a small project. The price range is actually ₹1.2 Cr – ₹1.7 Cr, so ₹1.16 Cr is probably a lower floor or a launch offer. Don't just go by the RERA date, check their past project RERA statuses too. That will give you a real picture of extensions.
I was also looking at ATZ Areva. The price seems decent for the location, but the delay reports are making me nervous. ₹1.16 Cr is a big deal. Any idea if they compensate for delays, or is it just 'sorry for the inconvenience'?
Yeah, usually, it's a very small penalty per month, like ₹5-10 per sqft. For a 1000 sqft apartment, that's ₹5000-₹10000. Your EMI itself is probably ₹80k+. So, no, it's not real compensation. It's just a formality.
Compensation? Haha, good joke. Most builders have clauses that make it impossible to get any real compensation. You might get a few thousand rupees, which doesn't cover your rent or mental stress. Better to avoid than to regret.
Bhai, you're not alone. ATZ ka track record sach mein kharab hai. My uncle booked in their Akshayanagar project in 2019, bola tha 2022 end tak mil jayega. Abhi tak kuch pakka nahi hai, bas dates extend ho rahi hain. ₹1.16 Cr is a huge amount to risk, especially for a first home. Resale value toh tab hogi na jab possession milega time pe. I'd say be very careful.
Exactly! My friend faced the same issue with another builder, not ATZ, but the delay cost him so much in rent. This ATZ Areva sounds risky. What's the RERA status showing for this project? Is the possession date 2026-06-01 still valid?
Totally agree with this. I heard similar stories about their project near Aavalahalli too. Developers just promise the moon and deliver dust. ₹1.16 Cr is a lot of EMI for a property that might not even be ready.