S
Saanvi Sethi
posted on 5 MayConstruction-linked payment plans hide future headaches
₹1.8 Cr for a 3BHK in Sector 65, JMS Group ka project. I'm currently in a 2BHK in Sector 57, thinking of upgrading. Already have a home loan, so EMI ka scene hai. Builder construction-linked payment plan bol raha hai. Is this actually smarter than a bigger down payment? Ya phir baad mein delay hone pe phas jaunga? Anyone's experience?
#payment-plan#construction-linked#gurgaon#upgrading
Comments
Gurugram market mein abhi supply kaafi hai, aur interest rates bhi stable hain. Builders ko sales karne ke liye kuch na kuch incentives dene padte hain, jismein CLP ek popular option hai. But as others said, builder ka reputation is key. Agar builder financially strong nahi hai ya uske paas multiple delayed projects hain, toh CLP se bachna hi better hai. Sometimes, paying a little more upfront for a ready-to-move-in property or a project with a solid track record is less stressful in the long run, even if it feels expensive now.
U17, haan, definitely. Delayed projects usually carry a stigma. Toh phir kya, abhi wait karna hi best option hai? Market stable hone tak?
U5, if the project gets delayed, does it also impact the resale value later on? Like, will buyers be hesitant if they know it was a delayed project?
CLP is a nightmare, I can vouch for that. Mera experience toh bahut kharab raha. Ek builder ne 'assured possession in 36 months' bola tha, aur ab 5 saal ho gaye hain, project abhi bhi incomplete hai. Meri saari savings usmein phasi hui hain. Har baar jab construction stage pe payment ki call aati thi, lagta tha ab toh jaldi ban jayega, but it never did. Now I'm stuck paying EMI for a home I don't have, plus rent. RERA mein bhi case chal raha hai, but it's a long process. Sector 65 mein toh bahut competition hai, check the builder's financial stability properly.
U14, RERA cases take time, but don't give up. For U1, before even considering CLP, check the builder's RERA compliance history, project completion percentage of their previous projects, and read every clause in the agreement very carefully. Penalty for delay should be clearly defined. Don't rely on verbal promises. Always consult a legal expert who specializes in real estate. That's the biggest lesson I learned after my own mistake.
1.8 Cr for a 3BHK in S-65 is already quite high for a first-time buyer with so much uncertainty. Not worth the risk, in my opinion.
U4, that's so frustrating! RERA se kuch relief mila kya? Meri bhi same problem hai ek project mein Basai Road ke paas. Builder bas dates pe date de raha hai.
But agar construction on time ho gaya toh CLP mein interest save ho jayega na? Thoda risk toh lena padega?
Bhai, construction-linked payment plan (CLP) sunne mein achha lagta hai, but it's a trap if the builder isn't reliable. Specially with JMS, unka track record thoda mixed raha hai. Sector 65 mein competition bahut hai, toh delay hone ke chances high hain agar sales slow ho gayi. Be careful, a bigger down payment usually means less stress later.
U12, yes, I've heard similar stories. Badshahpur area mein bhi inke kuch projects hain jahan delays common hain. Builder promises big, but execution is slow. My cousin faced issues with their project near Sohna Road as well. CLP sounds like less upfront burden but can become a nightmare if not delivered on time.
JMS Group ka toh naam suna hai, but kya issues hain inke projects mein? Koi specific example?
Totally agree with U2. Mera ek friend Airport Road side ek project mein phasa hua hai. Builder ne CLP mein payment le liya, ab construction adha ruka hua hai. Uska toh home loan bhi chal raha hai aur rent bhi de raha hai. Double burden ho gaya hai. RERA complaint bhi file ki hai, but outcome ka pata nahi. Always check builder ka past delivery record, Sirf brochures pe mat jao.
₹1.8 Cr for a 3BHK in Sector 65, JMS Group ka project. I'm currently in a 2BHK in Sector 57, thinking of upgrading. Already have a home loan, so EMI ka scene hai. Builder construction-linked payment plan bol raha hai. Is this actually smarter than a bigger down payment? Ya phir baad mein delay hone pe phas jaunga? Anyone's experience?