M
Mohammad Ali
posted on 13 MayConstruction-linked plans: My EMI nightmare
Since last year, Good Hill Homes' construction-linked plan in Sector 32 is draining me. They're demanding payments way ahead of actual progress. My EMI is killing me. Anyone else facing this with builders in Greater Noida? What did you do?
#builder-payment-trap#construction-linked-plan#emi#good-hill-homes#sector-32
Comments
Have you checked the RERA website for the project's actual progress updates? Builders are supposed to upload photos and progress reports there. Agar builder ki updates aur site pe actual progress mein bahut discrepancy hai, then you have a strong case for RERA. Don't just pay blindly, send them a formal notice asking for a revised payment schedule linked to actual progress.
Construction-linked plans are a double-edged sword, especially for first-time buyers. They seem attractive initially because the upfront payment is low, but the risk of builder delays transfers directly to your finances. In the current market, where material costs are volatile and project approvals can be slow, many builders are struggling to maintain schedules. Always check the builder's past project delivery record and financial stability, not just the glossy brochures. It's a huge commitment, don't get swayed by just the initial offer.
Yeh toh common problem hai Greater Noida mein. But construction-linked plan mein payments progress pe honi chahiye na? Good Hill Homes ka RERA registration number kya hai? Aur payment plan exactly kya bola tha, kitne stages the?
Exactly! RERA guidelines ke hisaab se payment schedule construction milestones se link hona chahiye. But builders manipulate karte hain. For example, 'structure complete' bol ke 40% maang lenge, jabki sirf walls bani hoti hain. Then 'finishing' ke naam pe 20% aur, but actual finishing mein saalon lag jaate hain. This is why EMIs become a burden when actual work isn't happening. Yeh market situation bhi builders ko favour karti hai, log darr ke maare kuch bolte nahi.
Good Hill Homes ka RERA ID UPPRERASMXXXXX hai (hypothetical). Unka standard CLP tha, 10:90 type, but construction progress bahar se dekhne mein toh hardly 30% hai aur 60% payment maang chuke. Inka track record average hi hai, delays common hain. Sector 32 waale project mein kuch log toh Ajayabpur ke paas ek aur project mein bhi phanse the inke saath. U8, in general, inke projects mein delays expected hote hain.
Bhai, meri bhi yahi kahani hai, but with Royal Developers near Alistonia Estate. Unhone toh bola tha ki 2023 end tak possession de denge, but abhi tak basement ka kaam bhi pura nahi hua hai aur 70% payment maang chuke hain. Mera EMI aur rent dono together bahut heavy pad raha hai. Maine RERA mein complaint ki hai, but response bahut slow hai. It's a real struggle.
Possession mila kya finally, ya abhi bhi wait kar rahe ho? RERA se kuch help mili?
Royal Developers ka toh naam hi suna hai delays ke liye. Mere ek colleague ne bhi unke project mein invest kiya tha jo Alpha II ke paas hai. Uska bhi same haal hai, bola tha 2022 end tak, ab 2024 ho gaya hai. Builder bol raha hai material costs badh gaye hain, aur kya kya bahane. RERA mein complaint karna hi last option lagta hai.
Oh man, I totally feel you! Good Hill Homes is notorious for this. My friend booked with them in Sector 16B and is facing similar issues. Yeh builders ka toh common tactic ho gaya hai - construction slow, payment demands fast.
Sahi keh rahe ho. Good Hill Homes ka track record kaisa hai in general? I was considering a project near Alpha I Greater Noida, but ab darr lag raha hai.
Absolutely! Ye sirf Good Hill Homes nahi, bahut saare builders aise hi karte hain. They lock you into a payment plan that doesn't match the actual work. It's like they want to fund their next project with our EMIs.