1. Cost in and around Sec 70 - Its a known fact that commodities that control inflation rate in india has lost their sheen and prices are significantly down i.e cement, steel etc and the arguement by builders don't hold weight when they try to justify a no-frills apartment for 2500 - 2700 psft in a non-developed area. the cost just cannot be more than 1800 (tops)
2. Tower I and the villas - The work to start casting of the basement raft of tower I has not yet begun. The thought is to bring the other towers higher so that they are visible from the perimeter of the site (probably sometyhing to get the buyers interested...) so what this means for
A) those in tower I
- delay in tower I
- if GPL were only to focus on development of tower I at a later date, back to back payments of two installments etc
B> those in other towers
- quicker completion of the ground floor i.e you can expect to receive payment note for another floor (i am not sure how they intend to charge...)
3. Villas - the completion of the project means we should have the villas also done? so far there hasn't been a single advertisement for villas so when possession comes i think it should mean the complete EDen heights complex and not a half cooked complex where construction for villas is starting...
I am a little nervous, given that we would have soon paid over 50% of the cost of the flat and the construction is only upto basement raft and the delay in possession penalty is a meagre 2rupees/psqft...
I will be talking about these with Sandeep soon, if you have any perspective pls share. As i said it's good to stay close together never know when we may need to voice a common concern...
~vik
20 comments:
I am coming to India for a vacation and will visit site on May-13th. I will ask the same questions with Sandeep and Manish. My allotment is in "I" tower.
let me know when you are at gurgaon and maybe we can meet up and take stock of the situation and our discussion with Sandeep
did you hear about Rahejas' - one of their property, they ran out of funds to build a couple of towers and realloacted apartments to folks who had originally booked in the other towers!!
I plan to be at site around 4-5 PM. I will be contacted thru email samir.u.kumar@gmail.com. If you send my your contact number to my email. I will be able to contact.
Vik,
Does this mean they have fund problem. If yes, asking for price reduction will neither help them nor us....we may not get delivery in time / assured quality.
I think, We shall decide our line of action and actually use this forum to build positive synergy.
I am not sure if its a fund issue, obviously it can be one of the issues because its hard for me to believe that they have sold 75% of the apartments in Eden Heights and attracting new buyers is very hard in these times.
The philosophy is to raise Raise tower a thru E and show to the prospective buyer that work is on at a rapid phase. but this is according to Manish and not sandeep. Only talking with Sandeep will give us more clarity.
if you noticed recently Tuliup orange launched its flats at 2200 psft which is 1/2 Km before eden heights and I am sure buyers can negotiate better rates i.e 2000 or 1900 too...
Samir, i'll send you my contacts, just buzz me and we can coordinate meeting. Amitab if you are in india it'll be good to see you too at the site...what say!!
Hi guys,
One question that I have is that if the construction progress is not good at this time, when the material prices have come down by almost half then when will it be? I cannot understand why so much delay. With this progress I think we may not get possession even by 2012 end (i.e. approx 5 years opposed to the 3 years of initial promise)
Can we all plan to meet some time, may be this weekend or next one. I am also fine to catchup on weekdays but I thought we can spend more time together if it is on weekend.
Thanks,
Teekam.
yes lets meet - how about 16th May, 4PM DT mega mall. There is a good place in there to sit and talk. Pls post your email ids so that I can send let you know the venue
Vik...Kust so you know - I am on very tight schedule and I will have just one day in New Delhi which is on May-13th. Pls. send me your contact...so I will contact you on May-13th around noon.
I'll be back to India by 16th, would catchup at DT Mega Mall.
Samir - ive sent you my number. talk to you soon.
Look forward to meeting a few of us on 16th - cheers!
Hi Guys,
Do you think Sandeep is having fund problems for this project? Whenever I have spoken to Manish or Sandeep every time they assured me that there is no fund problem and thats why still they have not taken any loan from banks for this. What they told me about the booking is 50% of the flats are sold out (mostly 2 & 3 BHK )
Anyway its a good idea to meet and synergies
Amit
Hi
During my last visit of Eden heights in March-09, Manish told me arround 70% of the flats has been sold out.....
Not sure what are the exact figures. and what is actually going on behind the scene...
i too hve been hearing 70-75% sale of flats but not sure how much weight that statement has.
Anyone else in town who'd like to meet on 16th pls feel free to join. I'll post the coordinates very soon.
And here comes the market value...someone is selling 2 BHK at 99 acers.com at 2450/- psf....evaluate your bargain quotient if you are gainer or looser !!
Hi
Is he selling from GPL/eden heights or from some other builder????
Maninder
wanting to sell for 2450psqft vs actually making the sale for 2450psqft may be two very different things. If the seller does get 2450 - then i think he got his monies worth. But I still feel that we are at least a couple of years away before Eden heights can be resold at the purchase price...
if I were a buyer, I wont buy Eden heights for 2450 in todays scenario, rather buy BPTP freedom park life in sector 57 for 2600-2700 - which is ready to move in by end of this year. Even Sohna road has good apartments for sale under 3000psft.
Hi Vik,
My email id is tcgoyal@yahoo.com.
Can you please send your contact number on this number? I will call you.
The suggested time 4 pm on 16th may works fine for me.
Thanks,
Teekam.
Samir, It was nice talking to you over the phone. Hope you have a pleasent stay in India and do update us with your findings after the discussion with Sandeep Gupta.
Teekam, Amitabh, others who can make it I'll meet you at 4PM at the DT mega mall. There is a bar on the 2nd floor (dont know the name) but thats our Venue ..
see you. you guys have my number if need help with directions or coordination
I have seen this Blog for the first time.Great! some common platform.
Why not fix up a meeting with Mr Gupta?
I am in Bombay ,but if I get some notice ,shall make it a point to be there.
I am in B Tower.
Admiral Bhatia
hi Ravinder - thanks for the comment.
I actually met Sandeep and his dad this weekend and will post an update later this week.
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