S
Saurabh Kapoor
posted on 15 MaySattva Lake Ridge: Legal doubts before committing
Kokapet – I'm considering Sattva Lake Ridge. The builder-buyer agreement feels risky. Is RERA actually effective if they delay? Also, what are key title verification steps people often miss?
#sattva-lake-ridge#rera-compliance#builder-agreement#title-verification#kokapet
Comments
Exactly! Main bhi yahi soch raha tha. What about the penalty clause in RERA for delays? Has anyone actually seen a buyer get proper compensation from Salarpuria Sattva for delays in their Bengaluru projects? Also, Kokapet mein current market conditions kaisi hain for new projects?
Bengaluru mein toh bahut cases hain Salarpuria Sattva ke delays ke. Google karlo.
RERA penalty is usually 10-12% interest on the delayed amount, but it's rarely enforced strictly. Builder will often offer some interior upgrades or a small discount instead. Hyderabad market conditions are a bit slow right now for luxury projects generally, but Kokapet is still hot for IT professionals. Also, BBA mein force majeure clauses ko check karna, builders use that a lot for delays.
Totally agree yaar! RERA sirf paper pe strong lagta hai. Penalty lag bhi gayi toh builder ko kya farak padta hai, buyer hi suffer karta hai.
Bhai, Salarpuria Sattva ka track record toh mixed hi hai. 1986 se hain but delays ke cases bahut sune hain, especially in Bengaluru projects. RERA ka protection bas naam ka hai, real mein builder ko fark nahi padta. Mera ek friend Attapur mein phasa hua hai, 2 saal late ho gaya possession. Be careful.
Sahi keh rahe ho. RERA is a mixed bag. Builder pays a small penalty, but the buyer's EMI and rent burden keeps piling up. Plus, getting that penalty is another battle. My cousin waited 3 years for his flat in Ameerpet and finally got a fraction of what he lost. Builders know how to navigate these laws and make the buyer-builder agreement (BBA) one-sided.
Attapur mein toh waise bhi kaafi projects stuck hain. Salarpuria Sattva ka naam sunke thoda darr lagta hai. But Lake Ridge ka location accha hai, that's why people are still looking.
Haan bhai, same experience. Mera bhi Salarpuria Sattva ke ek project mein delay hua tha.