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Arnab Sen
Hidden costs first-time buyers only discover after booking
Sector 24C — everyone glorifies this area for resale, but no one talks about the hidden costs beyond the property price. My budget is tight, aur EMI ke alawa, stamp duty, registration, interiors… it's all adding up. Kya builders yeh sab intentionally hide karte hain? Change my mind.
#first-time-buyer#hidden-costs#chandigarh-property#sector-24c#stamp-duty
Comments
It's clear from this thread that hidden costs are a universal pain point for first-time buyers. The original post hit the nail on the head. From stamp duty and registration to club fees and interior upgrades, it all adds up significantly. My advice, after seeing my friends struggle, is to add at least 15-20% to your quoted property price for these 'extras' and a buffer for unexpected costs. It's better to be over-prepared than shocked later. Still, it feels unfair that the industry operates this way.
Coming back to the interiors point, what's a realistic expectation for 'basic interiors' from a builder in these areas? Do they at least provide decent flooring and painted walls, or is it just raw concrete? I'm trying to figure out how much more I'll need to shell out post-possession just for basic living.
While hidden costs are definitely a pain, sometimes the 'glorification' of areas like Sector 24C or even Manimajra is because of genuine appreciation potential. Property rates in Chandigarh and surrounding areas have been steadily climbing. So, what seems expensive today might actually be a good investment in 5-7 years, even with the extra charges. We just need to factor them in from day one. Is RERA really helping to curb these practices, though?
U10, RERA has definitely helped to an extent, especially with possession dates and clarity on carpet area. If a project is RERA registered, you at least have a platform to complain. But yes, it's not a magic wand. Always check the RERA website for the project's status and any complaints filed against the builder. It gives some transparency, which was non-existent before.
RERA? Bhai, RERA is just a name on paper for many builders. They find loopholes. What's the point if projects are still delayed and costs are hidden?
My experience in Mullanpur Garibdass was a nightmare regarding this. The builder promised possession in 2 years, and now it's been 4, and still no sign. Every time I ask, they say 'coming soon'. The initial booking amount was reasonable, but now I'm paying pre-EMI and rent simultaneously, and the final cost has ballooned with escalation clauses they never clearly explained. It feels like they intentionally drag things out so these costs accumulate. Has anyone else faced such delays?
U5, your point about escalation clauses is crucial. Most buyers overlook them. My lawyer told me to always negotiate a cap on these clauses or ensure they are linked to RERA-approved delays. It's tough to fight them once you've signed, so proper legal review before booking is a must, even if it costs a bit extra upfront.
U5, this is so common. Many builders play this game, especially with projects in developing areas like Mullanpur. They launch at lower rates, then hike prices and delay possession, knowing buyers are stuck. Always check their RERA status and past project delivery timelines before booking, not just the glossy brochures.
Oh no, that's terrible! Which builder was this? Name and shame, yaar!