striker_84

I had booked a 2 BHK flat in World1 Mohali in Aug 2006 for around Rs 1900 / sqft. They told us to give the possession by mid of 2009. But still it seems that it will take 2-3 years more for possession as currently no construction work is going out there. I checked with builder they were saying that people are not giving EMIs and they dont have much money for construction.

Is there anyone who had booked flat in world1 mohali and has any update about possession??

monta_k

Well, i have a flat in the same project. I had a site visit last week and it seems possession should be given in the next 3-4 months. What i wish to ask you is; what is the future prospect of the properties in the area ( landran kharar road) as there seems to be a possibility of over supply in the area considering Emaar Mgf, unitech, Ansals have huge tracts of land to be developed and sold.

striker_84

I think the construction of four lane landran kharar road, international airport and location of world1 project(being surrounded by ansal and unitech) will bring some appreciation for our properties. Otherwise I dont see much appreciation in next 3-4 years. Reasons being : No major Indian IT company has any plan to open its center in Mohali in near future, Not much development in Chandigarh IT park. This means that supply will be more and demand will be less. All the proposed malls and hotels by ansal, unitech in the landran kharar area will take quite a long time to develop as there are hardly any customers for these.

What do u say???

monta_k

Well, i had the same impression when i was there in chandigarh / mohali a fortnight back. In fact i liked the construction at FTP, sector 90 adjacent to the BSF training centre. It seemed nice but i guess it would be more expensive than world 1. Nevertheless, i think u r right, unless the malls and the other commercial activities do not come by or are delivered ; major appreciation does seems to be far off for now at least.

striker_84

Have you checked the construction of quality in World 1??

monta_k

i have actually .. and find no problems with it .. in fact they seem to have provided good construction quality though much of it can only be gauged after a year or so after possession. but by what i have seen in world 1 mohali as compared to the contruction quality of various properties in mumbai / pune .. its for sure is good.
the concern with world1mohali is not construction quality but capital appreciation considering the huge demand / supply disparity in the region.
Do let me know if u have any contrarion views on the construction quality or on something that i must have missed.

striker_84

Hey Monta- do u have any update regarding the possession??

monta_k

Hi,

Just wanted to enquire with you if u have been asked to take possession by the builder. Also, have u checked on world 1 and its facilities lately? Do update whenever u can.