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Anisha Varghese
posted on 29 MarHark Infratech's payment plan almost bankrupted me
Okay I'll be honest – I completely messed up trusting Hark Infratech Developers Pvt Ltd's construction-linked payment plan. Sector 120 mein flat book kiya tha, thinking EMI toh baad mein shuru hogi. They kept demanding money every few months, saying 'slab complete ho gaya'. I had no idea how fast they'd ask for installments. Now I'm paying almost full EMI even before OC. Honestly, the brochure didn't explain it this way. My parents keep saying I should've gone for ready-to-move. Ab samajh nahi aa raha how to manage. Anyone else face similar issues with construction-linked plans? Should I escalate this to RERA? Is it even worth it? Any advice on handling this situation?
#possession-delay#construction-linked-plan#sector-120#hark-infratech#first-time-buyer
Comments
I think you should consult a lawyer specializing in real estate. They can assess your situation and advise you on the best course of action.
Don't panic. Take a deep breath and start documenting everything. Communication with the builder, payment receipts, the brochure - everything.
RERA is your best bet. It's designed to protect buyers like you. Start the process ASAP.
Update us on what happens after you escalate to RERA. It will be helpful for others facing similar issues.
Did you get a home loan? If so, talk to your bank. They might be able to help you restructure your loan.
Be careful – this builder has 3 delayed projects in Noida. I would advise others to stay away.
Which projects are you referring to? Can you share some details?
Haan, please share the project names. It will help others make informed decisions.
Honestly, construction-linked plans are a gamble. You're betting on the builder's ability to deliver on time. And in Noida, that's a big risk.
Check amenities completion before booking, I made that mistake. Now I'm paying maintenance for amenities that don't even exist!
Aaj kal toh ready-to-move bhi expensive ho gaya hai. Sector 150 ka avg rate 7k/sqft hai abhi. But at least you know what you're getting.
Haan, new metro line ke wajah se rates badh gaye hain. It's crazy!
7k? Bhai, which project? I'm seeing rates closer to 8k in Godrej sector 150.
U12, 7k is still reasonable compared to Gurgaon. At least Noida has better infrastructure.
Mera bhi same experience tha 2 years ago with another builder in Noida Extension. I escalated to RERA and eventually got some compensation. Don't lose hope.
Hark Infratech ka RERA registration number check karo. You can find details about their projects and complaints filed against them on the RERA website.
Construction-linked plan mein toh yahi hota hai. They show you the rosy picture, but the reality is different. Next time, read the fine print carefully. And never trust brochures completely!
I bought a flat in Sector 75 a few years back. Same story. 'Slab complete', 'plastering done' - they kept asking for money. I finally got possession after 3 years! Patience is key, but also be proactive.
Which floor are you on? And what's the super area of the flat? Just trying to understand the overall cost.
RERA is definitely worth it. File a complaint. It might take time, but it puts pressure on the builder. Collect all your documents and payment receipts.
Bhai, I feel you. Construction-linked plans are a trap if you don't have a solid financial backup. Hark Infratech ka naam toh suna hai, but never trusted them. RERA is worth a shot, but be prepared for a long battle.
Sector 120? Which project specifically? I know a few people who booked in Cleo County, and they're also facing delays. Maybe form a group and approach the builder together? Strength in numbers, yaar.
Ready-to-move is always safer, but costs more upfront. Did you check the builder's past projects before investing? Their track record is crucial. RERA mein complaint file karne se pehle, consult a property lawyer. They can advise on your legal options.
U2, Cleo County toh bahut time se delayed hai. I heard they are struggling with funds. Better to cut your losses and find another property.
Haan, exactly. Noida Extension mein bhi inka ek project hai, same story. Delay after delay.
U4, how to 'cut losses'? Already paid a huge chunk of the money. Any practical advice?
U6, legal notice bhejo. RERA mein case file karo. It's a long process, but it's the only way to get your money back, or at least some of it.