Originally Posted by seekadvise

Last Sunday, I along with 10 other collegue visited various site in sector 74, 75, 76,77 & 78. Some of our collegue visited expressway sector-137. We also visited Pan Oasis, sector-70 and under completion project of 119 & 120. The updates are as under:

1. Almost all the project which has been launched recently and the construction has not been started are having a corporate rate, which is applicable for any corporate where they are PSU, private, MNC or any five individual going for a group deal of five or more persons. However the corporate rates are hardly Rs.25 -50 per sq ft less than the individual booking. I did not find any gain in putting effort in forming a group of 125 people for a small gain of Rs. 50 per sq ft. Moreover, I found two project where builder was ready with the draft MOU and waiting for some person like me and others from PSU or IT co. to sign the MOU, so that they can book the flat to other PSU or IT co. showing the signed MOU. I believe, there is some benefit also being passed on to initial 2-3 members who sign the MOU.
2. The other thing I noticed is the project launched 4-5 months back has revised their rates twice or thrice, even though no work has started on the ground. We get the information from the dealers that almost 80% of the booking has already been done against the project launched 5-6 months back. However one project claimed by few dealers that it is 60% sold, when checked with the builder himself it was confirmed that only 30% has been sold. It looks like dealer is creating more hype than the builder.
3. We also visited crossing republic for two specific reason. One to see the quality of the flat being built there. As almost all the builder of Crossings are having a project in Noida. The second reason is to check, if there are 20 projects running simultaneously, can the area will be liveable if one or two projects delivered in time and other are under construction Phase. It is really impossible to live in a society, if there are other projecs are not over in the surroundings. The first phase of Crossings republic (few towers started by Crossings republic) is almost ready and, I believe the possession is being given now. However, I could not find a single person leaving there.

4. The rates, I got is as under (All inclusive Flexi plan):
Ajnara Grand Heritage: Rs. 2635 per Sq ft (all inclusive) flexi plan + PLC
Prateek Wisteria: Rs. 2900 per Sq Ft. (However they were having corporate rate of 2685 about a month back)
Antriksh Forest : Rs. 2700
Elite Home: Rs. 2850 (However they were having corporate rate of 2650 about a month back)
Gardenia, sector-75: Rs. 2900
PAN Oasis, Sector-70: Rs. 3500 (Construction started and first floor of certain towers are complete)
Paramount, sector -137: Rs. 2675 (No increase in last 3-4 months)

5. I checked the rates of almost ready to move in flats in Crossings Republic and it was Rs. 1900-2000 per Sq ft all inclusive. This is adjacent to Noida Ext. where the rates for flats is approx. Rs. 2100-2200 per Sq ft (Under flexi plan with IFMS and PLC extra). Once the Project is getting completed in Noida Ext. the costing (including bank interest etc) will be Rs. 3000 for those who has booked their flat now. I don't see any logic in such a price diffrence between completed flat of Crossings Vs Just Launched Project of Noida Ext. Location wise it is almost same, only difference is one is Ghazibad other in G. Noida. We may compare the price of Indrapuram flat with Sector -62 Flats having similarity here. If we get rate of Rs. 3300- 3500 in Indrapuram, it is Rs. 3500-4000 in Sec-62 Noida. The difference is sec-62 flats are less congested soceity flat and Indrapuram having congested but better aminities compared to society flat. The difference in these locations are hardly 20-25%.

Conclusion: We are in talk with 2-3 builders and hopeful of getting the best project, as I know, whatever rates a builder inflate or dealers create hype, some where every body knows that it takes about 4-years to complete a project. Any thing can happen in these four years, hence every builder try to get maximum booking at highest possible rates. I remember, in 2007-08, almost every project in Greater Noida and few projects of Noida like Omaxe Grand wood were sold out, and they were not willing to offer any flat of our choice. In the recession,we came to know that almost 35% inventory waqs left out and they had very hard time to sell. There are some projects like Omaxe Grand Wood and Unitech Horizon where good no. of inventory is still left out and these are almost complet flat. Omaxe is trying to sell at all inclusive rate of Rs. 4000-4200 but hardly any buyer. At the other end builders in sec-137 (location inferior to Omaxe Grand Wood) are having contruction linked plan of Rs. 3500-3600 (Royal Park, Logix).

My search is on, however, I request the learned members, to guide us in selecting a good project