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Debashish Sarkar
posted on 7 MayBuilder-buyer agreement: What clauses are red flags?
Visited Shriram 107 Southeast Phase 2 last weekend. Fed up of renting, honestly. How do you guys *really* check RERA registration status and spot red flags before paying? What about those tricky builder-buyer agreement clauses? Specific ones to watch out for?
#builder-buyer-agreement#rera-registration#legal-advice#first-time-buyer#sarjapur-road
Comments
RERA registration is good, but what if the builder keeps extending the possession date even after RERA approval? Like, if Celebrity Global Homes Pvt Ltd somehow gets RERA, but then just delays endlessly, what's the recourse? My friend is stuck with a project near Adigara Kallahalli for over a year past the promised date.
U9, that's a common problem even with RERA-registered projects. RERA does provide a mechanism to file complaints for delayed possession, and they can impose penalties on the builder. However, the process itself can be lengthy and frustrating. You might get compensation, but getting the actual home on time is still a struggle. Many builders just pay the small penalty and keep delaying. It's a loophole they exploit.
This is all so overwhelming. Is it even worth hiring a lawyer to review the agreement before signing? I'm trying to save every penny, but this sounds like a minefield.
U7, absolutely worth it! Think of it as insurance. A good property lawyer will easily spot those tricky clauses that can cost you lakhs later. Don't skip this step, especially with a builder having zero track record. Just make sure you find one who specializes in real estate and not just a general lawyer.
Zero projects is a huge deal, U2 is absolutely right. I almost fell for a similar trap in Aavalahalli two years ago. The builder sounded great, but their RERA history was sketchy. Thankfully, my uncle, who's been in Bengaluru real estate for ages, warned me. He said always check for possession timelines, penalty clauses for builder delays (they're usually very one-sided), and any clauses giving the builder unilateral rights to alter plans. The market is tough right now, especially for first-timers, so due diligence is key.
Totally agree with U4! Builder changing layout is a massive red flag. Happened to my cousin in Akshayanagar, they reduced green spaces and added more towers without any consent. It was a nightmare.
Shriram 107 Southeast Phase 2 sounds good on paper, but I'm super nervous after hearing so many horror stories. How do you guys actually verify RERA status properly? Like, beyond just checking the website. Aur builder-buyer agreement mein kya kya clauses dekhne hain? I'm a first-time buyer, don't want to get scammed.
Bhai, you're right to be nervous. I did some digging for Shriram 107 Southeast Phase 2 and found out the developer is Celebrity Global Homes Pvt Ltd. When I checked their RERA profile, it says 'Total projects: 0'. Zero projects! This is a massive red flag for me. How can they be building such a big project with no prior experience? Bahut darr lag raha hai.