jay.d

Hi,

Can any one tell about the project casa rio by lodha palava.
Is it better option for investment

cust_indiabulls_panvel

There is one more thread with a discussions on Casa Rio. I had psoted my views on that thread.

However for your benefoit, it is my OPINION that Casa Rio seems to be a decent oppurtunity. Subsequent to my visit, I have booked a flat in this project.

I have been crossing this area for the last 7 years - there has been a tremendous improvement in the roads - I had shared earelier that it took me 1 hour to reach this place by car on aq sunday fom Dadar.

It seems there are a total of 7000 flats in this project - and since the launch ( 6 weeks ago) about 2000 flats have been booked , which by any standards, is a good response.

I think one should visit the place and then take a call.

Anu2010

I checked that area. I went to the colony (Built by Lodha Nuilders 10 years back) and enquired about flat resale......
Astonishingly, I found the rate Rs. 1900 - 2100/ Sq. feet. I visited 4 -5 flats put on resale......... The rental there is also not much
The new upcomming Rio costs quite much in comparision...............

abhi_dagla

I visited the place on last sunday.
The rates are 2800 and 2600 for 3 and 2 bhk.
The sample flat looks good. But lack of infrastructure. water ? They said KDMC will supply drinking water for 30 minutes every day and for washing purposes, water will be supplied from their plant. I wander will that be cost effective.
Also the place looks deserted.
Not that good for investment. Only end users should think. That too it will take around 5 years to develop.

secv2010

I visted the Casabella project last year in August. The rate at that time was around 2151 psf. I stay at Borivali and went by car via Thane-Bhiwandi-Kalyan-Palawa. The route was so long that by the time I reached there I lost interest in the project. I did not book anything and returned via the same route. Last month I again visited the project along with one of my friend. This time though I went via Airoli-Mhape-Kalyan Shil road-Palava. I was shocked when I reached the place. It took me less than 10 min to reach the spot from Mhape infotech park. While returning it took less than 25 min to reach Vashi station from the project spot. I realised the mistake I made last time and made 2 bookings at the rate of 2394 in Casa Rio. I can only say that if the builder delivers whatever he has projected, it will be the best investment in and around Mumbai at this
rate.Even if you add some of the bullshit costs builder is charging , it still comes to around 2700 psf. What do you get in Mumbai at this rate. Look at the amenities and open space in the project. No wonder why Casabella
and Casabella is sold out. Even in Panvel good builders are charging above 4500 psf. So my advice to anyone interested is visit the place once and take your own call.

Yash

cust_indiabulls_panvel

I agree with Yash about the connectivity - there has been a tremendous improvement in this area.

abhi_dagla

The offer seems attractive, but
1. how much is the carpet area in 900 sq feet 2 bhk they are providing ?
2. What about the load shedding and water problems already faced by dombivliKars ? 30 minutes drinking water. Will that be sufficient.
3.Do they give in agreement that if possession is delayed, they will pay 12.5% interest on CV, as they promise verbally ?
4. How can they sell open space for parking ?
5. What is condition regarding title, NOCs etc( panchayat land etc ?).
6.How much will be the maintenance charges and other charges per year after possession.
7.Why do they insist on cash payment for parking.
Kindly clarify. and if possible, write the clauses in agreement.

secv2010

1. I cannot recollect properly, but I think the loading is around 30-32%. I do not have agreement with me yet.
2.Lodha has promised 24 hrs powersupply and 24 hrs water supply.
3.I don't think there is any such clause in the agreement.
4.I don;t know a single builder yet who doesn't charge for parking . I am aware charging for open parking is illegal. But I don;t know any builder who doesn't charge it.
5. No idea.
6. Maintenance charge is 2.5 Rs psf for 2 yrs.
7. There are taking cheque payment for parking but not in the name of the builder. It is some diffrent account.

As I mentioned earlier, If the builder delivers whatever he has promised, this is the best project in and around Mumbai. Investment in under construction projects is always a gamble, but then people take calculated risks considering builder's reputation, price and future prospects.

cust_indiabulls_panvel

Will try my best to respond to ur queires on whatever i know:
1. When u sign the allotment letter, they mention the carpet area for the flat that u buy.
2. For electricity they seem to hav an gareement with a private operator to supply eeltricity. My take is it would at the same level as any other project in that area.
3. No idea about penal interest
4. Am not sure what u mean by open space. but like any other project, they have open parking and covered parking.
5. I checked with one private sector bank and one public sector bank. The project is under process for approval. Casa rio people have said that it would take at least 6 months before work would begin.
6. Am not sure y u ask about maintence charge from builder. this is totally upto the society later to manage.
7. Parking is by cheque, although to a different party.

All in all, I would rate my experience with Lodha for Casa rio as a pleasant one. when they briefed about the various charges, all information was provided.

highrisemumbai

Hi JayD

I agree with Secv2010, and a lot of it also depends on what you are looking at. Apart from being an owner at Casa, I am also a property consultant (broker as many would call)...here is my assessment and would request you to have the investment objectives clear in your mind as well

1. What is your investment objective - are you looking for rentals or capital appreciation. If you are looking for rental income, you can forget about it for the next 4 years atleast. As the supply is very high, the rentals will not appreciate to a very large extent from now.
2. Time period of investment - It is not a short term investment project. If you read their plans, they have about 5000 acres in Dombivli and will be developing 2200 acres in the next 8 years...so there will be continuous supply for the next few years. So if you are looking to flip your property after 3 years, you will not get full value. But after that suddenly there might be an explosion in prices
3. Prices will keep escalating steadily for the next 3 years and you will get excellent value much after that. So if you are investing here, you have to train your mind to invest and forget the investment for a long term
4. What other project can you invest in at this kind of price? Kalyan also quotes similar pricing
5. Ofcourse if you see their allotment letter all clauses are lop sided including that arbitrator will be solely appointed by them etc. If the construction permissions are not received by them in the next one year they have the right to refund the money at 6% interest simple whereas they charge 18% for delayed payment.

I doubt they have all the permissions to start construction looking at their allotment letter but you can assume that they will get all the required permissions looking at their brand name. According to me the location has potential even if it goes 50% according to their projections.

And last of all...If you decide to book, contact me...no brokerage :-)