R
Rohan Patwardhan
posted on 12 MayUpcoming project: Builder delivery trust issue?
Did a site visit to Sattva Lake Ridge on Saturday, project looks promising for an investment. But it's upcoming, so delivery track record is key. Sattva ka previous projects ka kya scene hai? On-time delivery dete hain ya delays common hain? Investor perspective se, capital appreciation ke liye timely possession kitna important hai? Any hacks to check builder's real commitment?
#sattva-lake-ridge#project-delivery#under-construction#capital-appreciation#hyderabad-real-estate
Comments
The current market conditions in Hyderabad are also a factor. While demand is high, many builders are facing funding issues or labor shortages, which can lead to delays. Even established names can struggle. An upcoming project with 897 units is a massive undertaking. Investors are looking for quick appreciation, but if possession is delayed, your capital stays locked without any returns. I'd be very cautious and look at the builder's current financial health and not just past projects.
What about RERA? If the project is upcoming, is it already RERA registered? What kind of protection does RERA actually offer if the builder delays possession beyond the 2028 date? Has anyone actually managed to get significant compensation through RERA?
True, RERA is there, but getting actual compensation is a fight. My builder near Ameerpet offered me a measly amount as 'goodwill' for a 1.5-year delay, trying to avoid the RERA penalty. You have to be persistent and sometimes even go for legal action to get what's due. It's a long, draining process for a first-time buyer like me.
RERA bas naam ka hai! Enforcement is a joke. Builder ke paas 100 excuses hote hain.
Yes, upcoming projects need RERA registration. RERA says builder has to pay interest for delayed possession. It's usually 2% above SBI MCLR.
I think Sattva is generally reliable. They have a huge portfolio. For Lake Ridge, the stated possession is 2028-01-01, which is quite far, giving them ample time. If they've given such a long lead time, it means they've factored in potential delays. I'd say they are more likely to deliver close to that date compared to someone promising 2025 for a similar scale project. But yes, always keep a buffer in mind.
Upcoming projects mein toh always risk rehta hai. Builders initial promises toh bade bade karte hain, but execution mein lag jaati hai. I saw a project near Attapur that was supposed to be delivered in 2022, abhi bhi construction chal raha hai. Is it really worth blocking funds for so long with an uncertain timeline?
Absolutely, uncertainty is the biggest concern. But some builders are actually trying to improve their delivery timelines now because of market competition. I'm also looking for something near Alwal, and the builders there are giving more realistic possession dates. Maybe Sattva is also trying to be more transparent with 2028.
Hey everyone, I'm a first-time buyer and super confused. The original post mentioned Sattva Lake Ridge. I also visited the site and it looks good, but the 'upcoming' status makes me nervous. Sattva ke delivery track record pe koi insights de sakta hai? Especially for first-time buyers, time pe possession milna kitna important hai? Any personal experiences with Sattva or similar large builders?
Dekho, Sattva is a big name. They generally deliver, but sometimes small delays happen, especially for large projects like Lake Ridge. My advice is to check their RERA history for other ongoing projects, not just finished ones. Timely possession is EVERYTHING for an investor, otherwise, your capital is blocked. Make sure the agreement has clear penalty clauses for delays.
Sattva ne mere relative ka ek project Banjara Hills mein thoda delay kiya tha, almost 6-8 months. They did eventually deliver, but woh mental agony alag thi. Lake Ridge mein 897 units hain, so scale bhi bada hai. Just be prepared for slight delays, they are common now.
Haan bhai, same tension hai! Builder ka track record check karna bahut zaroori hai. Meri ek friend ka project 2 saal late ho gaya tha, abhi tak possession nahi mila hai. Bahut stress hota hai.