ArvindMishra

Dear All,

i have not heard Orris in residential sector apart from Orris carnation, which under construction(Last month they have performed " Bhami Poojan") , i heard but not physically verified , planning to go there for verification. Now they are coming with new project Orris Aster Court in the same location. Would like to discuss his credibility and ability to deliver both projects in time span of three years. Let us join this Thread to benefit other investor like me to provide correct information. i have read in website that orris is debut free developer and can be considered positive zone :

Some of the advantage (I am assuming based on analysis on website and some broker opinion)

1) Debut free developer
2) Location wise good (Sector 85)
3) HDFC approved carnation project and may be they will approve Aster court as well
4) Prices are lesser in comparison to other neighbor developer
5) New in business and has own property
7) Only two ongoing project (Aster court money will go carnation project so carnation will be completed and they will fulfill our dreams)
8) Other projects in pipeline (So other projects money flow will go in Carnation/Aster court after two year of time span)
9) Good channel partner (DLF/Vatika)
10) Delivered business projects on time or little bit delayed
11) Determination and commitment of his person in command ( Mr Gupta)

Disadvantage

1) Delay in carnation project (After one year no significant progress seen)
2) No modular kitchen, not up to mark design specification in carnation and aster court project)
3) Doubt on time line (To deliver the project in 36 month)
4) No transparency in flat transaction (Existing customer can validate or share his experience)
5) Builder/Underwriter/Broker nexus to increase the prices (Prices aster court 2190->2250->2295->2400->2450->2550 (within in month) –Need justification
6) No information on carnation project status

Can carnation project customer share your experience here?

Can Astor court customer share your experience during pre- lunch booking?

Please share your information for our benefit in this forum

Arvind Mishra

nifty001

since property is a big ticket buy and sole one too avoid less known and first timers is what i feel.. better to spen a few lac more will be better.

ArvindMishra

Senior members, pl advise on Aster court. They have lunched today with BSP 2450 with all required facilities as given below :

SIZE OF FLATS
Sq.ft

.

Type 1 2 BHK 1250
Type 2 3 BHK 1450
Type 3 3 BHK + SR 1550
Type 4 4 BHK 1900
Type 5 4 BHK + SR 2150
PRICES

BasicSalePrice Rs. 2450/-
Cost of Parking (one)
Covered Rs. 2,50,000/-
Open Rs. 1,50,000/-
Internal Development Charges & As per Govt. rule
External Development Work Charges (IDW + EDW)
Interest Free Maintenance Security (IFMS) Rs. 50/- per Sq. Ft
Club Membership Fees Rs. 50,000/-
PLC Charges

Ground, First & Second Rs.100/-per sq.ft.
Third Floor Rs. 50/-per sq.ft
Facing Landscaping green Rs.100 /-per sq.ft.
Corner Facing Rs.100/- per sq.ft.
Club Facing Rs.100/- per sq.ft.
Any Two Rs.150/- per sq. ft.
Any Three Rs.200/- per sq. ft.
Any Four Rs.250/- per sq. ft

Venkytalks

Good price, good location.

I liked their floor plans for carnation.

Floor plan for 3BHK Aster has very small bed rooms. I did not like the plan.

4BHK 1900 sf also has 2 small bed rooms, but has good carpet area to super area ratio since there is drawing and separate dining.

4BHK 2100 sf is the best plan of all, I really like it, good VFM. Comes to around 51L for BSP probably around 60L for the flat.

You get separate drawing (small), bigger dining than 1900sf, two small bed rooms and 2 good sized bed rooms. High carpet area to super area ratio if including balconies which seem nicely positioned.

Good VFM

Good plan for own use for small family only. But good value for money

__________________
Venky

ArvindMishra

Venky ,

Thanks for your advise. Should i go for aster court with this price tag? it might be possible some negotiation on price may be 2350 or 2400 psf. They are claiming to deliver the project by 2013. Aster Location is good in compare to carnation and sample flat is ready for our assessment.

They are claiming that LICHFL has given approval for this project need to verify from LIC H.F.L


Arvind

Venkytalks

One year ago, all brokers were giving 3-5% discount in GGN depending on project. Most were at 3% because company was keeping BSP low.

Now that offer price of BSP has increased so much, one should be starting negotiation at 10% discount. I am sure you will manage 6-7% or so. Please take feedback from other group members who have recently negotiated for a booking as to what discount is reasonable

ArvindMishra

Thanks Venkey ,

As per your suggestion , after discussion, they have come around 4.5 % discount on BSP 2450 . Should i go this price or wait for other members advise.

Currently orris has Offerd 3 % discount and Brokers 4 % on BSP and .5 on Credit note.

I have visited site today and aster court look good on location wise.


Arvind

Venkytalks

Why not initiate discussion with 3-4 brokers and ask them to match 0.5% (or less) more than what each previous one has offerred?

ArvindMishra

Venkey ,

Thanks for your Tip . Now they have come out with 5.3 % ( 4 % on direct BSP and rest 1.3% on adjustment in future installment)..

But after they have reluctance to go further..

Any further tip on other way

MANOJa

Can you quote the name of the broker? I am also intrested in booking here