aditi sharma

I had heard long before about Godrej project, now heard they have launched the project. I dont know weather booking opened or not.

I got this info... not sure if its correct
they have aquired most of 300 acres land
The construction contract given to L&T at Rs 995 /sqft
The launch price may be around 2300/2400 /sqft.

Anyone have any authentic info ??

Dhaval

Hi Aditi,
Phase 1 Booking has started. Now they are planning to start 2nd phase booking in few months.

I found few information about the project like site address from ahmedabadhousing.com/jagatpur/godrej_garden_city.php

As far as I remember I read somewhere in the newspaper total land is around 250 acres and they will be having 15000 apartments.

dhoom

The site is in jagatpur gam and it looked like a proper gam with buffaloes, cows etc.

I am not able to convince myself that this is a good buy as my first house, when I went there the info. I got was almost all the bookings have been done by investors.

aditi sharma

Thx Dhaval and Dhoom,

dhoom, u r right. This townships r not good for end-use at start time because it takes decade for development. I live in a 450 acre township (magarpatta city) in pune which took 10+ yrs to develop that too in boom time(2000-2010). most early buyers were investors. I know people who were living here 5 years ago and they said, the place was not good to live.

I can't comment on this as investment part, but I agree it wont be good for enduse for atleast next 5-7 years.

dhoom, since u visited the site, can you tell me what level of activity you saw there ? And how is the overall layout of township ? Do they have hostpital / school /shops and commercial places in township ? Do they have office space there ?

Dhaval

Aditi,
Construction is not started yet. going to start in couple of months from now.
As you said, you live in magarpatta and it took 10+ years, same is applicable here too.

aditi sharma

yep, Construction will may start anytime but what important is, do they have any commercial place in township ?
In magarpatta, its IT park which propelled growth. There are 26 towers in IT Park (most are complete, some under construction) and lot of IT companies.

This led the growth and their apartments got sold because of IT Park.

dhoom

Hello Aditi,

Unfortunately there are no IT towers in Godrej Garden City, there are shops, schools and stuff but no proper commercial office space.

Even 1 inch of the foundation is not dug yet and phase 1 is already booked. Go figure!!!

Surprising you mentioned the boom time in your earlier post to be 2000-2010, do you think that doom in RE has started.

D

Dhaval

I just wanna to know why we are focusing on IT tower for Godrej Garden city.

Forget about godrej project, whole gujarat is not having much IT companies.
If boom in Pune real estate is due to IT, than I am not sure about Ahmedabad.

All I know about IT is gujarat is only Infocity Gandhinagar and that is around 20 k.m. from godrej project (correct me if i am wrong).

aditi sharma

Thanks dhoom for ur reply.

Dhaval, I just wanted to know of was analyzing myself the potential of this project. As you would know, property rates in A'bad has gone up in 2 years. I was thinking if this is sustainable in future. I didn't mean just IT park in godrej city, but wanted to know if they have any office space (like GIFT project has commercial space for Financial companies ).

Without this commercial space, I think Godrej garden city is will be a purely residential project with some malls/hospitals within it.

aditi sharma

doom in RE has started from 2008 recession time.
Ahmedabad did not see price correction, mainly because of industries are growing here in modi regime. BRTS, good infra and new industries coming here did not let prices go down but upto me, prices have gone up in last 2 years.

But in other cities, like mumbai, pune, bangalore, chennai, hyd, noida etc, prices have corrected from 2007-2009. In cities like mumbai/pune recently there was some price hike in 2010 but its still not sustainable. the market is stagnated.