WHAT 7 YEARS OF SAYING ‘DON’T BUY THIS’ TAUGHT ME GAURAV BAJAJ

In seven years of advising home buyers and property investors across India,
the most important thing I have said again and again is also the hardest to
say: don’t buy this.

Every time I have said it, I have walked away from a commission. And every time, it has
built something more valuable than a single transaction: a relationship built on trust, not on
a sales pitch.
This is not a story about being selfless. It is a story about understanding what real estate
advisory actually means and why honest guidance is the single most underrated factor in
making a sound property investment decision.

The Problem With the Real Estate Market in India

The Indian real estate market is one of the largest in the world and one of the most difficult
to navigate as a first time home buyer or even a seasoned property investor. Builder
delays, RERA compliance gaps, misleading project marketing, and commission driven
advice have created an environment where buyers often do not know who to trust.

I have seen families spend 10 to 12 years of savings on a project that stalled mid
construction. I have seen investors buy in premium locations that were 45 minutes from
the address on the brochure. The common thread in almost every case was this: someone
along the way gave advice that served their own interest, not the buyer’s.
That is the gap I have tried to fill. Not by being perfect, but by being honest.

What ‘Don’t Buy This’ Really Means for a Home Buyer

When I advise a client against a property, it is never a casual opinion. It comes from a
structured assessment: builder track record, RERA filing status, project completion
timelines, price per square foot against the micro market, and whether the investment
thesis actually holds up at that price point.

The five things I always check before recommending any property to a buyer:

Builder’s delivery history. Not just whether they delivered, but when. Consistent
delays signal cash flow problems that will affect your possession date.

RERA registration and compliance. Every residential project above a threshold
must be registered. If the approved plan and the marketed plan do not match, that is a
legal and financial risk.

Realistic possession timelines. A project at 10% construction completion promising
possession in 18 months is not a timeline. It is a marketing line.

True location value vs location marketing. Proximity claims in project brochures
deserve verification. Visit the site at different times and speak to people nearby.

EMI to income alignment. Stretching beyond comfortable EMI limits for an
investment property only makes sense if the rental yield or appreciation case is
genuinely strong, not just hopeful.

“The best home buying advice I ever gave was the one that cost me a commission.”

Why Honest Real Estate Advisory Builds Long Term Value

There is a simple truth about property investment that does not get said enough: a bad
purchase does not just lose you money. It locks up your capital for years, creates legal
stress, and delays the life decisions you were trying to enable with that home.

When I advise someone against a property and then help them find the right one, I am not
just solving today’s problem. I am protecting their financial future. A client I advised in
2019 initially wanted a project I had concerns about. We found a better fit property
instead. By 2024, that property had appreciated 22%. The one he almost bought had
barely moved.

That is not luck. That is due diligence. That is what a good real estate advisor should
deliver on every single engagement.

What Every Home Buyer Should Demand From Their Advisor

If you are actively searching for a property, whether it is your first home or an addition to
your investment portfolio, here is what I would ask you to remember:

•  Ask your advisor: What’s wrong with this project? If they have no answer, that is an
  answer in itself.
• Be cautious of unanimous positivity. Real estate markets have risks. Any advisor
  who does not name them is not doing their job.
• Always verify RERA registration independently at rera.gov.in or your state’s portal
  before signing anything.
• Visit the physical site, not the model apartment. Speak to existing residents in
  nearby completed phases if possible.
•  Ensure your advisor’s interest is aligned with your outcome, not with closing the
  deal.

Seven years in, I still say don’t buy this more often than most advisors are comfortable
with. And I will keep saying it because in real estate, the most powerful thing you can offer
a client is not a property. It is perspective.

“The right property investment is not always the most exciting one in the room. It is the one that still makes sense when the excitement wears off.”