Booked in 2012, possession in 2032: Hotmail’s Sabeer Bhatia on waiting 20 years for ultra luxury apartment in India
Hotmail co-founder Sabeer Bhatia has said he is still waiting to take possession of an ultra-luxury apartment in India that he booked in 2012, adding
Hotmail co-founder Sabeer Bhatia has said he is still waiting to take possession of an ultra-luxury apartment in India that he booked in 2012, adding that he has now been informed the handover could happen only in 2032. The Indian-American entrepreneur shared his experience in a post on X, where he questioned whether waiting two decades for an apartment could ever be justified. His remarks have since sparked discussion online about prolonged construction delays and the state of India's real estate sector. "Is The 20-Year Wait Worth It?" In a post shared on X, the 57-year-old entrepreneur wrote, "I booked an ultra luxury apartment in India in 2012. The project has gone through much drama. I'm told I'll now get possession in 2032." He then asked, “Is the 20 year wait worth it?” Check out his tweet here A person typically books a flat by paying an initial amount and signing an agreement with the builder, while possession refers to the stage when the completed apartment is handed over for occupancy.
The interval between booking and possession often exists because projects are under construction or awaiting statutory approvals before they can be occupied. Also Read | OpenAI says its rogue AI agent also accessed accounts across four online service "I'll Be An Old Man By The Time I Get It" Responding to users in the comments section, Mr Bhatia reflected on how much time had passed since he made the investment. "I'll be an old man by the time I get it. I booked it as a young man hoping to establish a showcase base in India," the Indian-American businessman wrote. Several users reacted to his post, with some expressing concern that the project could face further delays beyond the revised timeline. Criticism Of India's Real Estate Environment Replying to one user who suggested that possession might not happen even in 2032, Mr Bhatia said, “That is not good news.
Unfortunately, India has become a zero trust transactional country.” Also Read | Delhi High Court to pass interim order for takedown of infringing content in Yuvraj Singh personality rights suit Another user remarked that the money used for the apartment's down payment might have generated better returns if it had been invested in a fixed deposit instead. Responding to the comment, Mr Bhatia wrote, "This experience tells me that India is not progressing in real terms and the leader has no clue that it isn't growing." His remarks drew widespread attention on social media, with users debating the challenges associated with delayed real estate projects and the impact such delays can have on homebuyers. Who Is Sabeer Bhatia? Sabeer Bhatia was born in Chandigarh and began his higher education at BITS Pilani before transferring to the California Institute of Technology.
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