There was not much news that I had to share so I didn't update the site but thanks all for the updates and comments. The one thing I can tell you is that groups and forums like this are more popular than ever (many end users are creating/joining such forums to muster strength to wear this real estate storm). So here is some update
1. As promised I tried contacting Sandeep Gupta on phone but couldnt get to him but will talk to him as soon as I am able to and provide some more details to all of you
2. I did speak with Manish and there was nothing new I heard i.e
>> work on basement raft is goingon
>> project is as per schedule
>> 2.5 years from now will be the possession
>> the land around GPL which was owned by Unitech is now bought over by Tata housing
>> if someone decides to move out 20% of BSP is retained by GPL.
3. Some other aspects
>> the good news is that the home loans are more affordable now (9% compared to 13%)
>> the other thing we all may be thinking is how all of the eco meltdown impacts the GPL project and what it'd mean for us as end users
== would there be more construction around sector 70?
== is the project viable for gpl
== would GPL compromise on the quality due to increased cost
== the property prices are expected to fall further (does it make sense to stay invested in a sector 70 if you get a ready to move in apartment in the more developed sector in gurgaon)
obviously, these are tough times for the economy, for each of us. Lets stay close and monitor the progress of eden heights closely. Thanks for keeping it active and for all the comments and emaisl you guys have sent.
~vik
27 comments:
Thanks for the information. Just curious what you heard about next payment date and EDC charges. These are difficult times for everyone including GPL. I expect them to be considerate by publishing new EDC/IDC charges and not charging the difference in next payment immediately. If there is a thought to change payment plan to reduce the percentage for next three payments.
hi guys
i believe the next instalement is around the corner,
any good guy who can get us a loan at 8 % as announced by SBI
regards
jack
Hi
Is there any communication/confirmation done by GPL about these increased EDC/IDC charges?
Maninder
EDC will be charged at the rate of 185 per sqft. If you remember GPL charged us at the rate of 200 persqft in the last payment - the new payment request that will be sent to all of us will have this amount adjusted...
The demand notes are ready and printed and will be dispatched by the end of this week to all of us.
I will also be receiving pics of the basement raft construction in the next couple of days and will upload the home page with those.
More to come !!
The latest news is that DLF has cut property prices for some of its property in Chennai and blr and extended this benefit to those who had booked a property earlier ...hope this trend starts in GGN too. I feel 2500-2700 at sec 70 is a high price to pay and I am not sure how much are the new bookings (if happening??) are selling for...
any clue??
I agree that 2500-2800 is on higher side. I strongly believe they should give discount or
upgrades to existing customers.
I will talk with Sandeep on my visit back to India.
Secondly, I think our collective effort/strength should be used to monitor the progress on the ground to confirm payments are tied to completion of construction stage (all towers) rather than duration. I am concerned with delivery within next 2-2.5 years.
I agree..the payment should be linked to completion progress of all towers instead of per tower basis (if thats a unit of measure :))..but I am with you AS on this. Let me know when you are able to get more info.
Sounds like a idea...what's the next step? who is going to own the falg to run it thru with GPL..I am planning to be in India for couple of weeks in May but not sure...
Project update pics =>
http://gplinfrastructure.com/projectupdates.html
I saw the pics Samir you put up. Hopefully thats the progress for the 11 towers and not just a couple of towers...whoever gets to see the site first may want toupdate this site.
I can't promise this weekend (or what is left of it) - i'll try to speak with Sandeep too..
Also, on a slightly different note - pls feel free to add a pic of each of you in your profile, it'
ll be good to put a face to the name.
Happy sunday
Vik, I agree with your concern. The banks have started pushing developers in Mumbai and other places to reduce rate to be realistic. I think GPL applications will face the pressure soon. Banks are wary to finance over its market rate.
I am looking forward to next letter so we can start thinking of asking them to reduce the rate depending on the purchase price else market starts improving.
Please see this link for some activism
http://sify.com/finance/fullstory.php?id=14863714
I am really eager to know the recent loan approvals' experience. Please share.
Guys staying in Gurgaon can throw some light on property trend these days in Gurgaon, I've heard that we can easily get 2BHk around Sushant Lok in 50 lacs Range.
Regarding SBI 8% package, its not a that big offer as this interest rate is only fixed for 1 year, after that their proposed rate is 10%p.a.
Hi
Thanks for all this information, I hv already received the next installment letter, But not seeing any returns by keep paying this type of installment in the present market conditions....
Atleast can we make some single database with our contact details and locations which wud also be helpful to take some joint actions and plan our activities.... deffinitely some body has to take the lead.....
Maninder
Hi guys
Thanks for all the updates. Current market conditions are not good and this is clearly visible now. I have received the letter for 4th instalment. Not sure if GPL will give us any credit unless we join hands. If we plan to leave, can they retain the first two instalments (20% of the flat BSP)or it is 20% of all the money paid so far.
Sandeep is not in the country and will be back next week.
I got my payment letter and have asked for more details around the calculations.And they have given 10 days to pay..which seems a little aggressive to me...
============================
On a different note. Nitin I am not sure if you are an end user of Eden heights, if you are feel free to participate in this forum. If you have queries about gurgaon properties..you could also try gurgaonscoop.com.
~vik
10 days to pay 8-11 lakh is very aggressive. A lot of people are paying w/o loan.
I think we should send email to sales to give us 30 days notice. A lot of people are outside NCR and India also. I am sending the email asking more information tomorrow and remind them to give all of us 1 month lead time. I would request you to send the same to GPL also. Vik, please suggest email we should use. Lets start sending the similar emails so they can see us forming together. -Amit
Vik
I'm an End User...I have booke flat no D-503 in Eden Heights and just to keep united and get each communication in our mailbox I started that google group thing but don't know why u deleted my post
Nitin - my mistake then, i wasnt sure if you were an end user as we kept this form only for users. Welcome and pls feel free to provide the link...
Guys - I am out of ggn and will be back on Monday. thanks pls keep your updates comin
Hi Guys,
Last week I was there on the Eden Height site. Just to update everyone work is going on with a moderate speed and basement raft is completed for 4 Towers.
They have posted the pics in the website also.
http://www.gplinfrastructure.com/projectupdates.html
I have spoken to Manish as per him EDC/IDC will be around 280/- and will be charged at the end of the project not in between.They have sent the letter to the govt authorties for not to increase the EDC.
Dont be pessimist... Now we can see moderate growth around Sec-70.
Some work has been started for the road which is coming from sec-56 and will connect to highway near haldiram. Eden Height project will be hardly 500 mtrs away from this road.
Now in the market demand is there only for the property which is under construction or ready to move.
People are not going for the property which is in the pre launch stage.
Eden heights comes under first category :-).If the work is going on with this speed ,We can see appreciation in next 6 months of time...
Cheers
Amit
well...your comment about basement raft being completed for only 4 towers stands out. Shouldn't the builder be asking for payment when the work is totally completed for all the towers? This is what AS also brought up in one of the earlier post.
Going by this logic - the builder will construct only one tower and charge everyone :o)
is anyone visiting the site soon...and take a pic of the full construction site? Much appreciated
thanks
Just to let everyone know, I have sent email to GPL to ask for my tower specific construction update.
Website pictures are nice but need the udpate for my unit. Right?
I am concerned about delivery delyed for some of us. 4 vs 11 towers is a big dfference.
I have also asked them to provide a month time for payments as a lot of us are outside NCR or India.
Spoken to some person in accounts dept of GPL, he confirmed me that they are sending the next installment letter only to that people whose tower's basementraft work has already been completed.
Presently as per him E,D,F,G are the towers, for which they hv sent the next payment letters.....
my booking is in tower I, and I have gotten the letter too...
This is false. I am in Tower B and I got the payment letter.
Post a Comment