S
Shalini Rao
posted on 9 MayCLP: worth the risk in Rajkot?
Budget finalised, loan pre-approved, but payment plans are confusing. Construction-linked plans are a trap, change my mind. Builder delay kare toh EMI chalti rehti hai. Higher down payment better for discounts, right?
#payment-plan#construction-linked#rajkot#investor#first-time-buyer
Comments
It's a tough market right now, especially for first-time buyers in Rajkot. Interest rates are up, and construction costs are also increasing, which sometimes builders pass on to buyers later. While a higher down payment is good for discounts, it also means more of your capital is locked. My advice would be to look for projects that are closer to completion, even if they cost a little more. The peace of mind is worth it. Otherwise, look for builders who offer 'no EMI till possession' schemes, but read the fine print very carefully. Often, banks fund the EMIs for a period, which then gets added to your principal.
While CLP has its risks, a higher down payment definitely helps with negotiations. I managed to get a good 5% discount by paying 30% upfront instead of the usual 10-15%. This reduces your overall loan amount and thus your EMI burden. But yes, you need to be very sure about the builder's credibility and financial stability before putting in a large sum.
What kind of project are you looking at in Rajkot? And which specific areas? That can make a huge difference in builder reliability and project timelines.
Yes, knowing the area and builder helps! Some areas in Rajkot, especially the newer developing ones, have builders who are notorious for delays. Always check the builder's past projects, not just their current marketing. A higher down payment *can* give discounts, but only if the builder is reputable and delivers.
I think the original poster is asking generally, but I'm personally looking for a 2BHK in areas like Krishna Kunj or near 150 ft Ring Road. The prices there seem reasonable for now, but I'm worried about the future appreciation and getting stuck with a bad builder. Any recommendations for areas to avoid?
Totally agree with you, bhai! CLP sounds good on paper, but the moment construction slows down, your EMIs are still running, and you're stuck paying for a half-built dream. My cousin got burned badly with a project near Krishna Kunj a few years back. Builder kept delaying, and he was paying rent PLUS EMI. Bohot mushkil ho jaati hai.
Sahi kaha U1. The RERA Act is supposed to protect us, but even with RERA, builder delays are common. You get a small penalty, but your financial burden doesn't reduce. Always check the builder's RERA compliance history and past project delivery timelines before committing to any CLP.
Haan bilkul! Yehi toh darr hai. I'm also looking in Rajkot and every builder pushes CLP. They make it sound like a great deal but what if the project gets stalled? Who takes responsibility then? It's a huge financial commitment for first-time buyers like us.