A
Anita Sawant
posted on 13 MayRERA complaints and builder legal track record: Is it effective?
Budget finalised, loan pre-approved – now stuck on which 3BHK project in Greater Noida. I'm upgrading from my 2BHK in Sector 137, looking at Noida Extension or Yamuna Expressway. I'm worried about legal issues. How effective are RERA complaints if a builder like Buildlopers India faces delays? Is RERA just on paper? What's the best way to verify a builder's legal track record and title clarity? Need advice on due diligence before I commit.
#rera-complaints#builder-legal-history#title-verification#greater-noida#investor
Comments
Dekho, RERA ne kuch projects mein relief dilaya bhi hai, it's not completely useless. Mera ek friend ka project Alistonia Estate mein, dusre builder ka tha, RERA ne usko compensation dilaya after a 3-year fight. But due diligence is key. Builder ka balance sheet, past litigation records, high court website pe search karo.
Balance sheet listed companies ki MCA (Ministry of Corporate Affairs) portal pe mil jaati hai, but private limited ka mushkil hai. Unke auditors se ya CA se poochhna padega. Aur compensation milta hai agar builder ke paas assets hon, which is often not the case with delayed projects. Buildlopers India ka toh kaafi mixed reviews hain, especially for their older projects. Better to hire a good property lawyer before even paying booking amount. They can do title search for 30-40 years, that's the best way.
Alistonia Estate mein kaunsa project tha? Compensation milna toh bahut rare hai. Aur builder ke balance sheet kaise check karte hain, is it publicly available?
Totally agree with the concerns. But what's the actual process to check builder's legal track record beyond just the RERA website? RERA site pe toh bas registration status dikhta hai, delays ka kya? Aur Noida Extension mein prices abhi kaise chal rahe hain, will they drop further due to all these issues?
Haan, RERA mein bhi time lagta hai. Homework toh karna hi padega.
Aapko builder ka past projects check karna padega, site visits karo aur local property lawyers se baat karo. RERA ka effect tabhi aata hai jab case strong ho aur builder ki financial health thodi theek ho. Mere ek relative ka Buildlopers ka project Ajayabpur mein stuck hai, 5 saal se. RERA order toh aaya, but enforcement mushkil hai. Market conditions ki baat karein toh Noida Extension mein abhi bhi buyer sentiment low hai due to chronic delays, so prices might not rise much soon, maybe even a slight dip is possible.
Mujhe bhi Buildlopers India mein interest tha Greater Noida mein, but phir suna ki unka Alpha-II Commercial Belt waale project mein bahut issues hain. Legal track record bahut shady hai. Ek lawyer ne bola tha ki title clear nahi hai kuch plots ka, especially in areas like Ajayabpur. Best to avoid them unless you have solid proof of clear title and possession commitment.
RERA? Bas naam ka hai yaar.
Bhai, exactly same situation! Buildlopers India ka naam sunke toh darr lagta hai. RERA mein complaint karne se kuch hota bhi hai kya? Mera friend ka project Greater Noida Phase 2 mein atka hua hai, 4 saal ho gaye.