S
Sushmita Das
posted on 3 MayRERA is just a paper tiger for builder delays
Visited Keya Life By The Lake. Prestige Group is good but I'm worried about possession delays. RERA is there, but is it actually effective if builders still miss OC deadlines? What are real options?
#possession-delay#rera-compliance#first-time-buyer#keya-life#prestige-group
Comments
Honestly, RERA feels like a paper tiger for big builders. I had a nightmare with a different builder in Akshayanagar a few years ago. They kept extending the possession date by giving vague reasons. RERA cases take ages to resolve, and the compensation is often a fraction of what you actually lose in rent, mental peace, and opportunity cost. For Keya Life, check their previous project completion timelines carefully, not just what they promise now.
Haan bhai, same here. RERA is mostly
U3, your experience is exactly what worries me. My friend booked in an Adigara Kallahalli project, and it's been delayed by almost a year. RERA ne sirf fine lagaya, but builder ne usko appeal kar diya. So the buyer is still stuck. Builders know how to navigate the system.
Hi everyone, I'm new to this forum. My wife and I are first-time buyers, super excited but also super scared! We visited Keya Life By The Lake last weekend. The project looks great, and Prestige Group has a solid reputation, established 1986 and HQ in Bengaluru, which is reassuring. But I keep hearing about possession delays from other builders. Is RERA actually effective against these big players? What happens if they miss the OC deadline? Are there any real options for buyers besides waiting endlessly? We're on a tight budget and any delay would mess up our finances completely. Any advice from experienced buyers would be a lifesaver!
Sahi kaha. RERA is good on paper, but practically, builder delays are still very common. Prestige ka track record toh theek hai, but even they have had minor delays in some projects.
U1, I totally get your fear! We also almost booked with another builder near Aavalahalli, and they had a 6-month delay even after RERA. RERA can fine them, but that fine rarely compensates for your rent and EMI simultaneously. The real issue is proving 'force majeure' vs. builder's fault. It's a long legal battle no one wants.