V
Vikram Bajaj
posted on 13 MayMy 8-year rental journey, now this builder payment mess
Fed up of renting for 8 years, finally taking the plunge. Looking at Prestige in Whitefield. Yaar, construction-linked payment plans are so confusing. Builder asked 20% on slab completion; feels too fast. Is this payment trap normal for under-construction projects? Any advice on managing these demands?
#payment-plan#under-construction#whitefield#prestige-group#first-time-buyer
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Whitefield mein Prestige ka demand high rehta hai, but 20% on slab completion is a bit much. Current market conditions mein buyers thode cautious hain, but builders are still pushing aggressive payment plans. Make sure you read every single clause in the agreement, especially about delays and penalties. Don't hesitate to negotiate payment milestones if possible. Sometimes they budge a little.
Bhai, run! Seriously. Prestige is a big name, but even they can have issues. A friend of mine booked a flat in their project near Aavalahalli, and they had a similar aggressive payment schedule. Builder ne toh itna jaldi payments maange, but project delivery mein 2 saal ka delay ho gaya. Interest pe interest lag gaya usko. Check their RERA possession dates versus actual completion for recent projects in Whitefield. Don't just trust the brand name, har builder ka apna game hota hai.
U3, you're spot on! This happened to my cousin with a project in Adigara Kallahalli. The payment plan looked fine on paper, but the actual construction speed vs. payment demands was totally mismatched. They ended up paying almost 80% when only 50% of the work was done. It's a huge financial strain, especially for first-time buyers like us jo budget-conscious hain.
Haan, exactly! Uski baat suno. Mere ek relative ne Akshayanagar mein ek project mein invest kiya tha, same story. Payments ka pressure itna tha ki unko personal loan lena pada, aur project delivery date toh har 6 mahine mein change ho jaati thi. Builders ka ye common tactic hai to get funds quickly. Bohut carefully proceed karna padega.
Sach mein? Aavalahalli waale project ka kya status hai ab? Possession mila kya?
Yaar, totally relate! I'm also a first-time buyer and the payment schedule is what's scaring me the most. 20% on slab completion does sound super fast, especially for Prestige. Are they usually this aggressive? I thought CLPs were supposed to be more spread out. Bahut stress ho raha hai.