V
Vikram Wadhwa
posted on 17 MayPrestige/Sobha projects mein hidden charges ki transparency kaisi hai?
Spent a lot of time researching Prestige Group and Sobha Ltd. projects in Whitefield from Dubai, and a major concern is the hidden costs. Kaafi agents ne bataya ki possession ke time par PLC, EDC, aur maintenance deposits surprise ban jaate hain. For a 2BHK around ₹1.2 Cr, how much extra should one realistically budget for these? Not being there to oversee, I'm worried about transparency. Kya builder clear communication deta hai before closing? Is this a common issue for NRIs?
#investment#bangalore
Comments
It's not just Prestige or Sobha, many big builders do this. They bank on the fact that once you're invested, you'll pay up. For Whitefield specifically, is the appreciation potential still good enough to justify these potential hidden costs, given current market conditions in Bangalore? Or should we look at slightly less premium areas?
NRI ke liye toh aur mushkil hai verify karna, I can imagine!
This is a real issue. I heard from a friend who bought a Prestige apartment in Marathahalli that his final payment included a 'corpus fund' and 'legal fees' that were never mentioned upfront. For a 1.2 Cr property, what's a realistic percentage we should keep aside for these extra charges? Is 10-15% enough, or should we budget even more?
Haan, RERA website pe project details mein documents milte hain. Builder ka RERA registration number daal ke check kar sakte ho. Sometimes they'll have a section for 'cost breakup' or 'other charges'. But even then, some things are left vague. It's a starting point though, better than nothing.
RERA docs mein sab clear hota hai kya? How do we access those?
From my experience with a smaller builder project in Aavalahalli, budgeting 10-15% is bare minimum, especially for Prestige or Sobha. They have a reputation for premium pricing and often add 'premium' charges too. My advice: get EVERYTHING in writing, even the vague 'other charges' clause. Ask them to specify what falls under it. And check RERA documents thoroughly, sometimes they list charges there that agents conveniently forget to mention. Don't rely on verbal assurances.
Yaar, you hit the nail on the head! I'm also looking at Prestige properties in Whitefield, and this 'hidden charges' thing is giving me sleepless nights. My budget for a 2BHK is also around 1.2 Cr, and I'm constantly worried about how much extra I'll have to shell out at possession. Agents just brush it off saying 'thoda bahut toh hota hai'. But 'thoda bahut' for us first-time buyers is a huge amount. Transparency toh zero hai, lagta hai. Koi clear breakdown nahi milta kabhi.
Same pinch, bhai! It's a common builder tactic. So frustrating for first-time buyers.
Exactly! I almost booked a Sobha project near Akshayanagar last year and backed out because of this. They quoted one price, then during the 'final discussion', suddenly EDC, PLC, and even club membership charges popped up like magic. It added almost 10-12 lakhs to the cost. It felt like a bait and switch, totally budget-breaking for someone like me.