Shiv Homes 1 in Noida Extension: My take on its RERA status and investor safety
Hey fellow investors, I've been looking into Shiv Homes 1 in Noida Extension, especially regarding its regulatory standing for buyer safety and potential ROI. This project, from Shiv Shankar Buildcon Pvt Ltd, established in 2005, is listed as COMPLETED, with units priced from ₹16.23 L to ₹17.88 L and an average of ₹2750/Sqft. The builder has a decent track record of 4 completed projects, emphasizing quality. However, the critical point for any investor or buyer is the RERA status: it's marked as "N/A." While it's possible this project was completed before RERA came into full effect in May 2017, the absence of a RERA number means buyers don't have the standard protections and grievance redressal mechanisms RERA offers. This impacts legal compliance and regulatory safety significantly. Without RERA, verifying project details, construction quality post-possession, or addressing disputes becomes a more complex, less regulated process. From an investment perspective, while Noida Extension generally offers good capital appreciation potential, the lack of RERA oversight might deter future buyers, potentially affecting resale value and your overall ROI. The low entry price point is attractive, but the regulatory ambiguity introduces an element of risk that needs careful consideration. My take: For Shiv Homes 1, exercise extreme caution. Get all legal documents thoroughly verified by an independent lawyer. While the builder has experience, the "N/A" RERA status means you're largely on your own for buyer protection. Weigh the attractive price against the regulatory safety net you'd be missing.
Comments
So, what's the actual possession date of Shiv Homes 1? The post says it's completed. Did anyone here get possession? And what about the 'Total units: 34' figure? Is it a small apartment complex or independent floors? These details also matter for community and maintenance. If the builder has 0 projects, who will manage the society post-possession?
Exactly, U10. My friend's society near Alistonia Estate is facing similar issues. Small project, builder disappeared, now residents are struggling with basic amenities. If Shiv Shankar Buildcon has 0 total projects, it means this was their only venture. That's a huge risk for long-term living and resale.
U9, as per the data available, the possession date was 2015-12-01. So, it's definitely an old project. And yes, 34 units is quite small. It could be individual builder floors or a very compact society. The maintenance point is very valid, who takes ownership if the builder is not active anymore or has no other projects?
I agree with the OP's caution. ₹16-18 L is indeed a low entry point, but in today's market, even in Noida Extension, you can find RERA-registered projects with slightly higher prices but much better security. The market has matured a lot, and buyers are more aware. This could definitely affect resale value later on if future buyers are also wary of the RERA status and builder's background.
My friend bought a flat in Noida Extension last year, also a pre-RERA project, near Ajayabpur. He faced so many issues with water leakage after possession, and the builder just kept delaying repairs. Without RERA, there's no real pressure on them. The low price is attractive, but the peace of mind you get with RERA is priceless, especially for a first home.
Wait, the original post says the builder has a 'decent track record of 4 completed projects'. But the actual data says Shiv Shankar Buildcon has 'Total projects: 0'. This is a huge red flag! Which one is correct? If they have 0 projects, how can they have a decent track record? Please clarify, this changes everything for me.
Haan yaar, this 'Total projects: 0' data is crucial. If it's true, then this is not just 'extreme caution', it's 'run for your life' territory. A builder with no prior experience selling units without RERA protection? That's a huge gamble, especially for us who are investing our life savings.
U4, you hit the nail on the head! I also noticed that discrepancy. If the builder has zero completed projects, then 'quality' and 'experience' are just words. This makes the RERA N/A even more concerning. It's like a double whammy for buyer safety. I'm looking in Alpha II Greater Noida, and even there, I'm checking RERA for everything, old or new.
Bhai, thank you for this detailed post! I was just looking at Shiv Homes 1, the price is so tempting. But this RERA N/A part is making me super nervous. Kya karein? My parents are pushing me to buy something soon, but I don't want to regret it later.
Exactly, U1! Same pinch. My agent told me 'completed project hai, RERA ki zarurat nahi'. But your point about legal protection is very valid. ₹16 L seems low, but if it's a trap, it's a big trap for us first-timers. Kya lagta hai, is it worth the risk?