H
Harsh Mishra
posted on 7 MayCLP plans in Noida Extension are a trap, not a benefit.
Okay I'll say what no one says, construction-linked payment plans are a total scam designed to make builders rich, not help buyers. Saal ho gaye rent dete dete, ab bas. Equity banana hai. Everyone glorifies CLP (Construction Linked Payment) plans, saying 'EMI vs rent' ka tension nahi. But bhai, you're paying for a property that's barely moving, and market price badh rahi hai. Better to take a loan for a ready-to-move in Block A ya Sector 150. Even with a higher upfront, at least you know what you're getting. Plus, builders like ARK Group will always add PLC, floor rise, parking, stamp duty, registration... the 'final' price is never final. CLP mein toh aur bhi time milta hai unko naye charges introduce karne ka. Am I wrong? Change my mind.
#payment-plan#construction-linked#noida-extension#investor#all-in-cost
Comments
I think the original post has a valid point, but it's not black and white. CLP can work if you have a very clear exit strategy or if the builder has an impeccable record (which is rare these days). The current interest rates are also a factor. If you can manage the down payment, RTM in Sector 150 or even some parts of Alpha I is definitely safer, even if it feels expensive now. The peace of mind of not having to chase builders for possession is priceless. But yes, for budget-conscious buyers, CLP is often the only entry point. It's a tough choice.
My biggest fear is exactly this. I've been paying rent for 3 years in the hope of booking a home soon. My budget is tight, around 60-70 lakhs. With CLP, the price per sqft looks tempting, but then all these hidden charges come up. ARK Group ka toh naam hi sunke darr lagta hai. My cousin almost got stuck with them.
Exactly! The Noida Extension market has seen some correction recently, but RTM prices are still holding strong. If you're going for CLP, factor in at least 15-20% extra over the advertised price for 'additional charges' and potential interest rate hikes on your loan. Don't fall for the low initial booking amount, it's a trap.
ARK Group? Escape while you can! Lol.
While I understand the frustration, RTM also means higher immediate EMI. For someone like me with limited savings for down payment, CLP offers that breathing room. Not everyone can shell out a huge amount upfront. My uncle suggested a project near Alpha II, said it's RERA registered and progressing well. Does RERA actually help with delays?
To your point, U4, RERA helps but it's not a magic wand. U5 is right, it's a slow process. For knowing if a builder is reputable, always check their past RERA complaint history, not just current project status. A builder with 0 RERA complaints usually indicates good delivery. My friend got lucky with a CLP for a project in Alpha I, Greater Noida because he literally visited the site every month and researched extensively.
RERA helps, but it's slow. I filed a complaint for my flat in Ajayabpur. Builder got a penalty but still no possession. It's a long legal battle, not a quick fix. CLP is fine if the builder is reputable, but how do we know?
Sahi pakda hai bhai! CLP is a trap. I'm also looking in Sector 150, RTM is the only way to go.
Totally agree! My friend booked in Alistonia Estate with a CLP and it's been 5 years, still no possession. Builder keeps giving excuses. The initial offer looked so good, but now with all the hidden costs and delays, they've paid almost 20% more than what was promised. RTM seems scary because of the lump sum, but at least you move in. Is there any builder in Noida Extension who actually delivers on time with CLP?