S
Swati Malhotra
posted on 25 MayMy Faridabad flat search: Builder funding confusion
After 30 years in our big house, the kids have moved out and we're looking for something manageable in Faridabad. Everyone glorifies builders like Puri or BPTP, but nobody talks about the financial safety net. I'm looking at a 2BHK in Sector 35. Goyal Estate Agency showed me a project they say is 'self-funded'. Honestly, is a builder's self-funding a red flag or a sign of strength? Bank-funded projects feel safer, no? Matlab, EMI payment plans linked to construction progress – that's a whole different ballgame if they run out of cash. Should I trust self-funded for my retirement flat? Change my mind.
#builder-funding#faridabad-property#retirement-flat#sector-35#payment-plans
Comments
Hi OP, this is my first time buying too! Faridabad sounds promising, especially Sector 35. I've been hearing good things about the connectivity and upcoming infrastructure there. But your point about funding is super valid. I'm looking at a couple of projects in Neharpar area and they all boast about their 'financial strength'. How do we actually verify this? Is there a way to check a builder's financial health before committing? Any tips would be great!
U3, you can try checking their RERA filings,
Exactly! Self-funded is a huge red flag for me. EMI linked to construction progress is the only way to go. Otherwise, you're just throwing money into a black hole sometimes.
Totally get your confusion, OP! Self-funded sounds great on paper, but what if they run out of money mid-way? Then you're stuck.