S
Sneha Wadhwa
posted on 12 MaySattva Lake Ridge agreement clauses — are they fair?
Sattva Lake Ridge — I'm seriously fed up with this renting cycle, finally taking the plunge for a 3BHK. My budget is around ₹1.8 Cr. But builder-buyer agreements dekh ke darr lag raha hai. Saare clauses builder ke favour mein hote hain na? Especially about possession delays. Kya RERA complaints actually work for these? I'm checking their RERA registration, but what red flags should I look for beyond just the number? Any experiences with Salarpuria Sattva and their agreement terms? Should I get a lawyer to review it before signing anything for my first home?
#rera#builder-agreement#sattva-lake-ridge#possession-delay#legal-advice
Comments
Thanks everyone for the insights. It's really scary how much power builders have and how complicated these agreements are for us first-timers. So, apart from RERA and lawyer review, what's the best way to choose a 'safe' builder? Any other red flags to watch out for beyond just possession delays?
Absolutely, U1, get a lawyer to review it! This is your first home, ₹1.8 Cr is a huge investment, don't rely on builder's sales team. Look for clauses about super built-up area vs carpet area, maintenance charges (initial years and future hikes), and most importantly, the exit clauses if you change your mind or if the project gets stuck. Salarpuria Sattva is a big player, they have solid legal teams drafting these. A good lawyer can spot the hidden pitfalls.
U7, haan, RERA mein clear guidelines hain for delays and penalties. Usually, it's the home loan EMI + 2% interest rate. But builders often try to put a cap on it in their agreement, or define 'delay' in a way that benefits them. You need to check if the builder's agreement contradicts RERA rules. If it does, RERA rules prevail, but you might have to fight for it.
My cousin booked with Salarpuria Sattva in Attapur 3 years back, 3BHK for around ₹1.6 Cr. Unka project bhi 1.5 saal delay hua. Agreement mein penalty clause tha but it was very nominal, like ₹5 per sqft per month. Lawyer ne bola tha ki court jao, but it's a long process and mentally exhausting. Ultimately, they just took possession without much compensation. So yes, builder agreements are super tricky, especially with established names like Salarpuria Sattva (est. 1986, HQ Bengaluru) who know the legal game inside out.
Ye compensation ka scene toh har jagah same hai. Hyderabad market mein abhi prices thode stable hain, but delays ka risk bahut high hai, especially after COVID. Builders are struggling with approvals and labour, so delays are almost a given.
Oh no! Toh aapko compensation mila kya finally? Ya bas adjust karna pada?
Bhai, builders ka toh yahi scene hai. Sab apne favor mein rakhte hain, especially for first-time buyers like us. ₹1.8 Cr is a big amount, don't rush. Salarpuria Sattva ka track record mixed suna hai, especially for delays in some of their older projects. Be very careful.
Sahi baat hai. But RERA mein delay ke liye penalty ka clear mention hota hai kya? Maine suna hai ki woh bhi loopholes nikal lete hain, aur phir kuch milta nahi buyers ko.
Totally agree with U2. Force majeure clauses toh inke favourite hain, construction delay ko natural calamity bana dete hain. Bahut dimaag lagate hain ye log.
Sattva Lake Ridge — I'm seriously fed up with this renting cycle, finally taking the plunge for a 3BHK. My budget is around ₹1.8 Cr. But builder-buyer agreements dekh ke darr lag raha hai. Saare clauses builder ke favour mein hote hain na? Especially about possession delays. Kya RERA complaints actually work for these? I'm checking their RERA registration, but what red flags should I look for beyond just the number? Any experiences with Salarpuria Sattva and their agreement terms? Should I get a lawyer to review it before signing anything for my first home?