M
Meena Srinivasan
posted on 19 MayHidden costs buyers only discover after possession
Been looking for 8 months now. As a real estate guy, I know builder tricks. Sattva Lake Ridge ke promised possession dates sirf brochure mein hain kya? Delays se end-user ko double EMI aur rent ka burden kyon jhelna padta hai? Actual handover experience kaisa raha hai?
#possession-delay#end-user#builder-issues#sattva-lake-ridge#hyderabad
Comments
While all these concerns about delays and hidden costs are valid, I feel current market conditions also play a role. Interest rates are high, property prices are soaring, especially in Hyderabad. First-time buyers are desperate to lock in a price, sometimes overlooking these red flags. It's a tough spot for everyone.
Exactly my thoughts! I booked a flat near Alwal three years ago, RERA registered project tha. They promised possession in 2023, now it's pushed to late 2025. RERA ka bhi kya faayda jab builders fine bhar ke bhi nikal jaate hain? My EMIs started, and I'm still paying rent. Ye 'upcoming' projects mein toh aur bhi risk hai. Kisi ko actual possession mila hai kya, ya sab RERA dates pe hi chal raha hai?
I can relate to the RERA frustration. When I booked my flat, the builder showed a fancy RERA certificate, but the quarterly progress reports are often misleading. My advice would be to physically visit the site often, not just rely on photos or what the builder tells you. Also, check the RERA portal for any penalties or complaints against the builder. It's a lot of homework for buyers.
Your experience sounds so familiar. RERA has definitely helped to some extent, but as you said, builders find loopholes. My project in Banjara Hills, also RERA registered, is behind by almost 1.5 years. The RERA updates are always 'on track' but ground reality is different.
Sattva Lake Ridge 2028? Bhai, tab tak toh inflation aur badh jaayega. I doubt they'll even start construction full-swing by then.
Same pinch! I'm also a first-time buyer and this whole process is so overwhelming. The brochure shows one picture, but the reality seems to be completely different. Delays are one thing, but I've heard about so many hidden charges popping up right before possession. What are these hidden costs actually? Koi clear list de sakta hai?
U6 is right. Don't forget stamp duty and registration charges. Woh bhi ek huge chunk hota hai jo budget se bahar nikal jaata hai agar theek se plan na kiya ho. Log sirf property price dekhte hain.
Oh, hidden costs ki list toh lambi hai! Prepare for IFMS (Interest-Free Maintenance Security) which is usually 2-3 years' maintenance paid upfront, then club membership charges, utility connection charges (electricity, water, drainage), property tax for the remaining part of the financial year, and sometimes even corpus fund contributions. My neighbour in Begumpet had to shell out almost 2 lakhs extra at the time of possession for these things. It's never clear on paper initially.
Bilkul sahi kaha! Yeh Sattva Lake Ridge ka toh sunke hi darr lag raha hai. 2028 ka possession date de rakha hai, but builders ke track record dekh ke lagta nahi ki time pe milega. Mera dost Attapur mein ek project mein phasa tha, 2 saal delay hua aur usko double EMI aur rent ka bojh jhelna pada. Is project mein bhi wahi hone wala hai kya? Koi experience share karo please.
Haan bhai, builders ki reputation toh kharab hai hi. Sattva ka naam sunke hi darr lagta hai. My cousin had a very bad experience with another project in Ameerpet. Same story, endless delays.
Totally agree with the double burden point. It's not just the EMIs and rent, but also the mental stress. Builders just keep pushing dates. Is there any way to actually hold them accountable for these delays? Any specific hidden costs beyond these delays that we should be aware of?