S
Sarita Das
posted on 18 MayJust checked Goyal Luxury Floors' RERA status, honestly not sure what to think.
Why is confirming RERA compliance for Goyal Luxury Floors so difficult? Trying to gauge Rahul Mangla's commitment. Past projects had RERA issues; worried about this upcoming one. Anyone else seeing red flags, or am I overthinking the legal status for an investor's ROI?
#faridabad-real-estate#goyal-luxury-floors#rahul-mangla#rera-compliance#investor-concerns
Comments
It's a tough call. On one hand, the RERA 'Not Applicable' is a huge red flag given Rahul Mangla's past. On the other, if it's genuinely legally exempt, maybe it's fine? But for ₹2.7 Cr, the risk seems disproportionately high for just 4 units. Still, for an 'upcoming' project, this much ambiguity is worrying. What do people usually do in such cases?
Be very careful guys. I had a similar experience with a builder in Sector 35 a few years back. The project also had very few units and claimed RERA wasn't applicable. Possession date (2026-04-01 for Goyal) kept getting pushed, and then the quality suffered. Ultimately, a lot of legal hassle. Just because it's technically 'legal' doesn't mean it's safe for us first-time buyers.
Exactly! The 'Not Applicable' for RERA is what's bothering me the most. Also, only 4 units? For a project priced at ₹2.7 Cr, usually, RERA is mandatory before any significant booking. Does anyone know if there's a threshold for RERA registration based on unit count or project size? Like, if it's less than 8 units, maybe RERA isn't needed? This could be a loophole he's exploiting.
Exactly! This is why I'm always hesitant with such projects, especially in areas like Sector 35. Faridabad market mein aise projects risky hain.
So basically, he's found a way around it. Clever, but not reassuring at all for us buyers.
Haan, you're right about the threshold. RERA Act says if the total area is more than 500 sq meters OR more than 8 units, then RERA is mandatory. Since Goyal Luxury Floors only has 4 units, technically they might not need RERA. But still, for ₹2.7 Cr, it's a big risk.
I saw this project too and had the same doubts. 'Not Applicable' for RERA for a *new* luxury project? That's a huge concern. Builders often use these loopholes.
Just checked Goyal Luxury Floors' RERA status, honestly not sure what to think. Why is confirming RERA compliance for Goyal Luxury Floors so difficult? Trying to gauge Rahul Mangla's commitment. Past projects had RERA issues; worried about this upcoming one. Anyone else seeing red flags, or am I overthinking the legal status for an investor's ROI?
Haan yaar, with Rahul Mangla's history, you'd expect everything to be crystal clear. Aur ₹2.7 Cr for just 4 units? Ye toh seedha red flag hai, no overthinking involved.
Totally agree bhai! RERA 'Not Applicable' for an upcoming project sounds fishy. Especially with the price tag.