R
Rohit Jain
posted on 9 MayWhat nobody tells you about RERA delays
Is RERA registration just a formality, ya it actually helps if the builder delays? I'm looking at Signature Global City Phase 1. Hercules Ventures LLP ka RERA number toh dikh raha hai. But if possession mein delay ho, does RERA really step in? Log bolte hain it's just on paper. Kya real options hain, penalty milti hai kya?
#rera-registration#builder-delays#gurgaon-real-estate#first-time-buyer
Comments
This RERA thing is so confusing! Har koi kuch aur bolta hai. Kya promised possession date kya hai iss project ki? Builders toh shuru mein bade vade karte hain, aur baad mein bas dates pe dates dete rehte hain. Meri family bhi ek project mein phasi hui hai Baharampur Naya mein, 2 saal se delay ho raha hai. Tension hi tension hai.
Har builder ka yahi haal hai! Dates pe dates, aur hum buyers bas wait karte raho.
U5, Signature Global City Phase 1 ki possession date toh as per their RERA filing is showing end of 2027. But given it's Hercules Ventures LLP's first project, I'd take that with a pinch of salt. My friend's project in Baliawas is also delayed, they promised 2025, now it's looking like 2028. It's a common story.
Dekho, let's be practical. Hercules Ventures LLP has 0 projects. That's a massive risk for a first-time buyer. Gurugram mein abhi market bohot garam hai, aur isi ka fayda utha ke naye builders bina experience ke projects launch kar dete hain. Signature Global City Phase 1 mein RERA registration dikh bhi raha hai, but the real question is, will they deliver on time and with quality? RERA will just ensure you get your money back with some interest *eventually*, not necessarily your dream home on time. Always go for builders with a proven track record, especially in this competitive market.
U9, wahi toh dilemma hai. Established builders bohot expensive hote hain. But at least unka track record hota hai. Naye builders mein budget friendly options milte hain, but risk bhi utna hi zyada. Best hai ki RERA number ke alawa builder ki financial background aur past land dealings bhi check karo, agar kar sakte ho.
Toh kya karein, sirf established builders ke paas jaayen? Hum budget buyers ka kya hoga?
Exactly! Meri ek friend ne ek aise hi naye builder ke project mein Badshahpur mein invest kiya tha, thinking 'naya hai toh achha banayega'. Ab 4 saal ho gaye hain, project stuck hai aur builder phone bhi nahi uthata. RERA complaint file ki hai, but abhi tak kuch khaas hua nahi. Uska toh pura investment phas gaya hai. So, this '0 projects' point is super critical, don't ignore it.
Totally agree with the general sentiment here. RERA is mostly for show. Builder ko fark nahi padta.
Yaar, RERA helps, but it's not a magic wand. If the builder delays, you can file a complaint. They do step in, especially if there are many complaints against the same builder. Penalty bhi milti hai, usually interest on the delayed amount. But the process is slow, very slow. And for a builder with zero projects like Hercules Ventures, it's a bigger risk because they might not even have the funds to pay penalties if things go south.
Bhai, you've hit the nail on the head! RERA sounds great on paper, especially for first-time buyers like us, but ground reality is something else. Hercules Ventures LLP ka RERA number toh dikh raha hai, but have you checked their track record? Zero projects total, that's a huge red flag for me. Log sahi bolte hain, RERA ke chakkar mein padke bhi builder delay karte rehte hain aur humare paise phans jaate hain. Penalty milti bhi hai toh bahut kam, aur uske liye bhi saalon court ke chakkar kaato. My friend almost lost his mind with a similar builder near Basai. So, formality hi samajh lo for the most part.
Actually, ek mere relative ko RERA se compensation mila tha, but it took almost 3 years. Builder ne Airport Road side ek project mein delay kiya tha. So, it *can* help, but be prepared for a long fight. Instant relief toh nahi milti.
Sahi baat hai yaar, paper pe hi rehta hai sab. Builder ko kaun rok paya hai.