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IREF® - Indian Real Estate Forum > Real Estate in India > Real Estate Gurgaon > Help me Choose! (HOLD OR SELL)
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Old January 24 2012, 01:42 AM   #1
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Default Help me Choose! (HOLD OR SELL)

To all senior members and experts here.

I own a flat in UG-2, Gurgaon (still under construction) -> In reality there's no construction for like last 8-10 months or so.

I bought this flat in a resale in early 2010 for end use that was promised to be delivered in July 2011 but construction seems to be totally halted. I am getting like 1000 rs psf appreciation now. It is not that I'm in urgent need of the money but I have started to doubt the intention of this builder (UNITECH) for delivery as every time we approach them about the construction delay, they come up with different reasons like labor problems, company's internal issues blah blah.

However I am still not able to understand the exact cause of the delay as I haven't seen any other builder who are delaying the projects (Halting) by year or more. I don't know if they have really any finances to even complete the projects.


Bottom line is that the appreciation is not that great but If this builder plan to delay it for several years, I'd like to bail out for whatever appreciation I can get and move on.


I'd like to know details from senior members who have bought anything earlier from Unitech for end use and if it was actually delivered.

Help me choose what decision could be the best under my circumstances.

Thank you

 
Old January 24 2012, 02:10 AM   #2
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IMO, the prices of UG-2 are around 6500 and I dont think in next year it can rise beyond 7200-7500, considering that structure is ready, I assume more than 80% payment must have gone....

I would suggest you to jump out and rather invest the same money into two different projects(under construction) where less payment has gone & construction just started(or in pipeline in near future)and over a year you can get atleast 20-30% ROI on your investments.

suno sabki...karo SIRF apni..so that you dont regret later.

good luck!
 
Old January 24 2012, 03:26 AM   #3
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First of all what does the BBA says - did it start again from your buying date? If yes, then your cycle started again and I say it is a good idea to get out. Because, if the builder delays this further then you are just stuck with it and have no chances of even getting penalty of any kind.
 
Old January 24 2012, 04:00 AM   #4
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Quote:
Originally Posted by djvjain View Post
First of all what does the BBA says - did it start again from your buying date? If yes, then your cycle started again and I say it is a good idea to get out. Because, if the builder delays this further then you are just stuck with it and have no chances of even getting penalty of any kind.
Hi DJ,

What is BBA?
 
Old January 24 2012, 05:41 AM   #5
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builder buyer agreement
 
Old January 24 2012, 06:25 AM   #6
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Quote:
Originally Posted by sachinarora83 View Post
builder buyer agreement
Thanks Sachin.


According to BBA, they will refund rs 5 psf for any infinite delay.
 
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