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Prerna Pathak
posted on 5 MayUnder-construction projects are a financial black hole
Just moved in last month and the reality of under-construction projects hit hard. Root2Home Royal Park 2 buyers, beware of the hidden charges. My final cost was way higher than advertised, didn't account for PLC or registry. Wish I'd considered a completed plot like Wave City Sector 6 Phase 2. Did anyone else face this with upcoming projects?
#hidden-charges#under-construction#ghaziabad-real-estate#total-cost#possession-risk
Comments
While I understand the frustration, under-construction projects are not always a black hole. They often offer better appreciation potential if the area develops well during the construction period. Plus, you get to choose your unit and sometimes even customize a bit. The key is to do your due diligence, get all costs in writing, and preferably go for RERA-registered projects from reputed builders. Root2Home Royal Park 2 being RERA N/A is definitely concerning though.
In my experience, no. The appreciation usually isn't enough to cover the mental agony and hidden costs, unless it's a super prime location and the market explodes. I booked in a project in Ahinsa Khand II years ago, thinking about appreciation, but it got delayed by 4 years and the final cost was almost 30% higher than initial quote. My friends who bought ready homes are so much better off. Better to pay a bit more upfront for peace of mind.
Do you think the appreciation potential makes up for the mental stress and the extra costs that pop up later? I'm trying to weigh the pros and cons, especially being a first-time buyer with limited budget. What if the project gets stuck?
I've started looking only at ready-to-move properties now. Yes, they might be slightly more expensive upfront, but what you see is what you get. No hidden charges, no possession delays. Wave City Sector 6 Phase 2 jaisa option bahut better hai. You know the exact cost, and can move in immediately. The peace of mind is worth it.
Exactly. My uncle bought a flat in Abhay Khand, ready-to-move, and though it felt expensive then, he's so happy he didn't have to deal with builder delays. He just paid and shifted. No headaches. Under-construction projects feel like a gamble sometimes.
It depends on the location and builder, but generally, ready-to-move can be 10-20% higher than the base price of an under-construction project in the same locality. But when you add all the hidden charges, PLC, and potential rent you save during construction, the difference narrows down. Current market conditions in Ghaziabad also favor ready-to-move because interest rates are still manageable, and people want immediate possession.
But ready-to-move ka price difference kitna hota hai roughly? For a similar configuration, will it be significantly higher than, say, Root2Home Royal Park 2's advertised price?
This is why I'm so scared of under-construction. Especially projects like Root2Home Royal Park 2, jiska RERA number bhi 'Not Applicable' dikha raha hai online. No RERA means no proper regulatory oversight, builders can do whatever they want with timelines and costs. Meri cousin ka project 3 saal late ho gaya, aur builder ne compensation bhi nahi di kyunki RERA mein registered nahi tha.
Haan, I checked too. It's listed as 'Not Applicable' on Propmyna. That's super risky for first-time buyers like us. It means the project might not even be approved by RERA or might be below the threshold for registration, which is usually 500 sq meters or 8 units. Either way, less protection.
Wait, Root2Home Royal Park 2 ka RERA N/A hai? Are you sure? That's a huge red flag for a project with 2026 possession. What about the builder's track record?
Yeh toh common problem hai yaar. But what exactly were these hidden charges? PLC aur registry toh generally known hote hain na? Did they not mention it at all, or was the amount much higher than you expected? Need specifics, I'm looking at something similar near Afzalpur.
Exactly what U4 said. PLC can add lakhs. And then there's the 'development charges' that suddenly appear. Builders need to be more transparent. For Root2Home Royal Park 2, the possession date is 2026-07-01, that's still far, so expect more surprises. Always factor in at least 15-20% over the base price for these extras, plus 7-8% for registry.
Bhai, they usually quote a base price per sqft. Then they add PLC (Preferential Location Charges) for corner flats, park-facing, or higher floors. Uske baad IFMS (Interest Free Maintenance Security), power backup connection charges, club membership fees, car parking charges... List lambi hai. Registry toh upar se aata hai jo stamp duty aur registration fee hoti hai based on circle rate. Root2Home Royal Park 2 mein bhi yahi sab hoga. Mera ek friend Achchheja mein phasa hai aise hi.
Totally relate! Builders always have these 'surprise' charges. Root2Home Royal Park 2 ka price range toh 27L-62L dikha raha hai, but I bet actual cost is much higher. Thanks for the heads up, I was eyeing an upcoming project in Ahinsa Khand 1, but now I'm thinking twice.