S
Shahrukh Khan
OMR Krishna Residency: My under-construction investment worries
Under-construction risk for OMR Krishna Residency really worries me, especially for an investment. I'm fed up of renting, honestly. Landlord raised rent again, so I'm finally looking at an investment unit, maybe ₹78L range. What's the capital appreciation like? Is there a decent resale market after say 5 years? I'm thinking of my exit strategy. Anyone know about their delivery track record? Not sure if it's worth the risk for ROI.
#omr-krishna-residency#greater-noida#investment#under-construction#resale-value
Comments
I was also eyeing this project, the price range of ₹30 L – ₹78 L seems wide, but the 78L units are quite good. But the 'Not Applicable' RERA is a dealbreaker for me. If you're really fed up with renting, maybe look into smaller, completed 1BHKs or studio apartments in established areas. They might be cheaper and offer immediate rental income, rather than waiting and worrying.
Regarding capital appreciation, OMR is a mixed bag. Some pockets are doing well, others are slow. For 78L, you might get something ready-to-move in a slightly older building, maybe near Alpha II, which would remove the under-construction risk completely. Think about it. The total units are only 31 for Krishna Residency, so maybe that's why no RERA? Small projects can be risky too, less financial backing often.
I heard OMR Krishna Residency is by a relatively new builder. Delivery track record is hard to find for them. For resale after 5 years, you need a project that actually gets completed on time and has good amenities. Without RERA, if they miss March 2024, what recourse do we have?
Yes, 31 units is small. My friend's project also had around 40 units, and it got stuck for years because the builder ran out of funds. Not saying this is the case here, but it's a common pattern. Noida market mein abhi bhi bohot fluctuations hain, so safety first.
That's a good point about ready-to-move. I'm also looking for investment and was considering under-construction for the 'discount' but the peace of mind with a completed project is worth a lot. My uncle bought a flat in Noida Extension last year, under-construction, and now the builder is asking for extra charges he never mentioned.
OMR Krishna Residency ka RERA number hai kya? Maine check kiya tha, mujhe toh 'Not Applicable' dikha raha hai. Agar RERA registered nahi hai toh bahut bada red flag hai, especially for an investment. Possession date toh March 2024 dikha raha hai, which is super close.
Oh god, 'Not Applicable' is scary. Is it even safe to put money if RERA protection nahi hai? My parents always say RERA is a must for any new project. What if the builder just stops work after taking money?
Haan, sahi pakda hai. 'Not Applicable' matlab ya toh bahut chota project hai (less than 8 units or 500 sq m) ya phir puraani policy ke under aata hai. But for an investment worth 78L, no RERA is a huge risk. Builder ki marzi chalegi then. I once invested in a small project in Alistonia Estate, no RERA, and it got delayed by 3 years. My money was stuck.
Totally understand your worry, bhai. Under-construction ka tension alag hi level pe hota hai. Especially jab investment ki baat ho. My friend almost lost his booking amount in a project near Alpha I Greater Noida because the builder just vanished. Please check everything properly.
Under-construction risk for OMR Krishna Residency really worries me, especially for an investment. I'm fed up of renting, honestly. Landlord raised rent again, so I'm finally looking at an investment unit, maybe ₹78L range. What's the capital appreciation like? Is there a decent resale market after say 5 years? I'm thinking of my exit strategy. Anyone know about their delivery track record? Not sure if it's worth the risk for ROI.