V
Vivek Tandon
posted on 15 MayUnder-construction projects are always a gamble for NRIs
Checked Kasturi The Balmoral Hillside online. ₹4.46 Cr onwards for under-construction. Builder ka delivery track record kaisa hai? NRI as investor, will capital appreciation cover under-construction delay risk? Opinions?
#kasturi-balmoral#pune-investment#nri-investor#under-construction#project-delivery
Comments
Dekho, capital appreciation ho sakta hai, but the mental stress of delays and follow-ups from abroad is huge. For NRIs, ready-to-move-in properties, even if slightly more expensive, offer peace of mind. Is there any way to verify the builder's current financial health?
The RERA ID P52100046444 clearly shows the original possession date as March 2016. It's 2024 now. That's 8 years delay! For ₹4.5 Cr to ₹11.2 Cr, this is unacceptable. Current market mein Pune mein itna risk lena worth it nahi hai unless the builder is top-notch.
U9, RERA helps to some extent, but builders still find loopholes. My parents booked a flat in Amanora Park Town way back, and even with RERA, the builder managed to drag possession for almost 2 years past the revised date. Imagine the cost of EMI + rent for that long. For an NRI, it's even worse with currency fluctuations and managing from abroad. Better to stick to developers with a proven track record of timely delivery, even if the initial price is slightly higher.
8 years delay? That's insane! And for such a premium price point? This is exactly why first-time buyers like us are so scared of under-construction. The RERA system was supposed to prevent this, right?
Yaar, Kasturi Balmoral Hillside... I remember seeing ads for this project years ago. 2016 ka possession date dikha raha hai RERA pe (P52100046444). Abhi tak ongoing hai? That's a massive red flag right there. My cousin invested in an under-construction project near Akurdi, builder ne 3 saal late diya. NRI bhai, be very careful. What's the current ground reality here? Anyone visited recently?
Yes, I visited Balmoral Hillside last year. Work was happening, but very slowly. They were saying 'next year for sure'. But 2016 se ab tak? That's a big red flag. For NRI, better to look into completed projects in areas like Sinhagad Road or Anand Nagar. Why take such a huge risk?
Totally agree with U6. My uncle also had issues with their other project. Builder ka track record poor hai.
U3, you're spot on. I heard from a friend who lives near Ambegaon Budruk that Kasturi has a reputation for delays. This Balmoral project has been stuck for ages. They keep extending deadlines. NRI investors should absolutely avoid unless they have someone locally to follow up constantly.
Totally agree U1. Under-construction for NRIs is super risky. Capital appreciation is not guaranteed, especially with delays.
₹4.46 Cr onwards for under-construction? Bhai, itna toh budget hi nahi hai mera. Aur upar se NRI investor bol rahe ho, toh risk toh double ho jaata hai. Builder ka track record really matters here. Kisi ko pata hai kya Kasturi ke baare mein?