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Arushi Rastogi
posted on 13 MayUnder-construction projects are a first-time buyer's nightmare
Okay, I'll be honest — everyone glorifies new launch projects but I think they're a huge risk for first-time buyers. My parents keep saying go for resale in Sector 24C, but all the agents push under-construction. How do you even evaluate delivery risk? The RERA dates are always just deadlines, not guarantees. People lose money, get stuck with EMIs and no home. Honestly, I'm leaning towards resale even if it means older amenities. New launches feel like a builder's cash cow. Change my mind.
#first-time-buyer#under-construction#resale#sector-24c#delivery-risk
Comments
It's not all black and white, but I get the frustration. Some reputed builders do deliver on time, but they are usually priced higher. The key is thorough due diligence – check their past projects, financial stability, and RERA complaints history. For New Chandigarh specifically, some projects have
I booked a 2BHK in Rasulpur in 2018, builder promised 3 years. It's 2024, still no possession. My rent and EMI together are killing me. I've gone to RERA, filed complaints, but nothing moves. Builder ne toh abhi tak completion certificate bhi apply nahi kiya hai. Wish I had listened to my dad about resale in Sector 24C. This is why I'd say under-construction is a gamble, especially for us first-timers with limited savings. It's a hard lesson learned.
My agent is pushing a project in New Chandigarh saying 'possession in 6 months'. Sounds too good to be true, right? How to verify this, ya'll?
But resale mein toh upgrades ka kharcha alag se aata hai na? Paint, kitchen renovation, maybe even wiring. Plus, older buildings often have maintenance issues that pop up later. Isn't there a middle ground for new construction that's almost ready? Like, 80-90% done?
Sahi keh rahe ho. Resale mein hidden costs bahut hote hain. Wiring, plumbing, paint... it all adds up. But at least you see what you get, no delivery risk. That peace of mind is worth something, especially for first-timers.
Middle ground is tough to find, U2. Almost ready projects also demand premium prices and usually have limited options. Builders know people are desperate for ready-to-move.
Bilkul sahi kaha yaar! This whole 'under-construction' hype is giving me anxiety. My friend booked a flat in a so-called 'reputed' project near Saini Majra, promised possession in 2022. Abhi tak construction adha bhi nahi hua hai, aur uska EMI toh chal hi raha hai. How do you even trust RERA dates anymore? It feels like we first-time buyers are just guinea pigs for builders to fund their next project. Mera budget itna tight hai, ek bhi delay hua toh I'm doomed.
RERA dates are mostly for show, bhai. Builder penalty is so low, they don't care. They just pay a small fine and keep delaying. We need better enforcement, but who will fight them? It's a lose-lose for buyers.
Totally agree, U1. My cousin is stuck with a project in Mullanpur Garibdass since 2021. Just EMIs and no home. It's a nightmare for middle-class families.