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Anjali Mukherjee
posted on 10 MayRERA's real impact on Noida Extension delays
Okay I'll say what no one says: Under-construction in Noida Extension is a trap. RERA hasn't stopped delays. Ready-to-move is the only safe bet, despite the premium. Change my mind.
#under-construction#ready-to-move#rera#delays#noida-extension
Comments
It's a complex situation, and I think the truth lies somewhere in the middle. Yes, Noida Extension has seen its share of delays, and RERA, while a good step, hasn't been a magic wand. But ready-to-move also comes with its own set of issues – higher price, sometimes older construction, and fewer customization options. The current market conditions in Noida are also a factor; builders are facing liquidity issues and rising material costs. For first-time buyers, it's about balancing risk vs. reward. Doing thorough due diligence, checking the builder's past RERA records, and perhaps choosing projects closer to completion are key. No easy answers, just careful choices.
I think it's unfair to say RERA hasn't done anything. Yes, delays are still there, but many builders are now more accountable. I know a few people who got their money back or compensation thanks to RERA. It's not perfect, but it's better than nothing. Has anyone here personally benefited from RERA's intervention in Noida Extension specifically, like getting a refund or seeing stalled construction restart?
U10, it was almost a full refund, minus some minor deductions the builder argued for. The process took about 10-12 months from filing to final order and then getting the money.
U9, was it a full refund or partial? Aur kitna time laga process mein?
U8, my colleague did. He booked in a project near Alpha-II Commercial Belt, builder defaulted. RERA ordered a refund. It took almost a year, but he got his booking amount back. So, for some, it has worked.
My experience has been exactly what the original post says. Booked a flat in Alistonia Estate five years ago. Promised possession in 3 years. It's been 5.5 years now, and the builder keeps giving new dates. RERA filing was easy, but getting concrete action is another story. They imposed a penalty, but the builder is just paying it and not speeding up construction. It feels like RERA is more about financial penalties for builders than actually ensuring timely delivery for buyers.
While I understand the sentiment, 'ready-to-move is the only safe bet' sounds a bit extreme. The premium for a ready flat can be 15-20% higher, sometimes even more! As a budget-conscious buyer, that's a huge difference. Are there no builders left in Noida Extension with a decent track record for under-construction projects? Or is it truly a gamble everywhere? Any specific projects or developers to consider that are genuinely delivering on time?
U5, even 80-90% complete can be a trap. My friend's project was 90% done two years ago, still waiting for finishing touches and OC. Builders just drag it out.
U4, I hear you on the budget. It's tough. Instead of fully under-construction, maybe look for projects that are 80-90% complete? They often have a slightly lower premium than fully ready ones but less risk of major delays. I've heard good things about some builders around Alpha I Greater Noida, though even there, you need to check the exact project status.
Yaar, you've literally said what's been on my mind for months. I'm a first-time buyer and the thought of booking an under-construction flat in Noida Extension gives me nightmares. RERA aaya toh tha but seems like builders still have their ways. Ready-to-move ka premium chubhta hai but peace of mind ke liye kya karein?
Totally agree with U1. My cousin booked a flat in a project near Ajayabpur three years ago, supposed to get possession last year. Ab tak sirf promises mil rahe hain, builder ne bola hai COVID ki wajah se delay. RERA mein complaint bhi ki hai but progress bohot slow hai. Dil se darr lagta hai.