rameshyahoo

Infact there are more investors with black who pre-book with the builder and then before registration dump the property on unsuspecting buyers with huge gain. they then roll the black money onto the next project with the same builder. the cycle can only be broken if loans r not available to the end-user. as of now 50-60L is easily available so any price crash in this range is a remote possibility. The bank has approved a loan of 60L for a friend who earns 8L.

sreekys

I think its time to objectively look at these locations and evaluate them assuming that the airport may not come there. Am saying this to highlight one fact and that is distance. Distance from the mainland city...Yes of course these locations are far and thats precisely the reason why they shd not be priced do high. I mean just thinking of it today in the papers I read that the rates in 2005 for PLanet Godrej near Byculla station was just 4.5 to 5K psf and today that is ten times the rate. Now they are charging the same or more rate for far flung locations all within a span of 5 years! The Navi Mumbai location is FAR and so are locations like Kalyan and Dombivili. These are the only options that the common man in the city can look at. In the midst of this the politicians have bought huge tracts of land and hence are also protecting their interests to make sure the airport comes up there. But the question to ask is what if the airport does not come up there indeed (Refer todays DNA Navi Mumbai airport not a good idea) then what? As long as buyers think of that and are ready to go for the gamble it may be worth the chance.

jadhav_ravi

So why does the distance from the mainland city matter so much. Navi Mumbai by itself has the potential to be the next Chandigarh in making. If Pune can capitalise and be a success being 100 miles from Mumbai then Navi Mumbai is better placed. Thane/Chembur and Sewri links turn Navi Mumbai to be a suburb much closer than most eastern/western suburbs.

sansunder

Thank you all for your advice

The one thing I am definitely taking from this thread is NO to black money.

Jadhav-saheb; I will contact this Kalpataru project in Panvel. But given their proximity to the airport, I wonder how much cheaper could they be compared to Khargar.

Smartj: Thank you for the points you raised about NRIs. I can speak for US, EU and UAE and the picture is horrible. B/w taxes upto 50% (EU), high unemployment and job insecurity, real estate value erosion (all of my friends who bought house until 3 years back are looking at 10-12% capital loss) not much of water left in the tank... Hence the plan to have a safety net in Mumbai when the ^%&t hits the fan. After all it has been my Janam and karambhoomi.

I will consider coming after holidays but leave might be a challenge..

So as a last question. IF we were to consider the following 4 properties which are 100% white, would anyone have thoughts on these in terms of builder rep, location etc.

thanx Regds..SSS

3 Arihant Superstrucures Ltd
Arihant Aradhana Sector-10.Near to highway (Mubai-Pune Highway ) and Khargar station.
No Cost and other details available at site which we can get from their Vashi office.
Rate Approx Rs 4800/- and total cost est around Rs 60 lacs.Under construction.Estimated to complete by Dec 2010

6. Nisarg Nirman Developers
Hyde Park- Sector 35 G Khargar
Website www.nisarggroup.com
Under construction.Will be ready by March2011
Area 1065 sft Built up.Carpet area 32% less RS 4200/- Total Project cost Approx s 52 lacs
Parking optional.Full white payment

7. Suncity Construction
Suncity Residency
Plot No-E-87/87 A Sector-3
Khargar
Under Construction will be ready by March 2011.
No website
Area 1305 sft Rs 4500/- Total Cost Approx 60 Lacs

8. Arihant Sharan which is in sector 20 after the highway.

Sharpj

Well I am not so much into RE investment for now.. I think it is over priced and I will want to sit on the sidelines for now. Nisargroup does not have a good reputation, but some are happy with the way Hyde Park is shaping up.
Arihant has mixed reviews.
Do a search on both in the forums and you will have people commenting both ways. So I guess it is upto you ..

These are not tier 1 builders so have a look at the property yourself before making the decision. Do not put the burden of the decision on your father..

Expect 7-8 months delay in getting procession and almost a year from the date before the place is livable..

sreekys

Of course distance from mainland city does not matter however conditions apply...India and especially mumbai does need to decongest itself which means building new cities and townships. Today it is very easy to buy car or even a house because of loans and as long as your income is steady with an increase of 10% yoy on an average you should be fine...but do you think as of today Navi Mumbai has the same or more amount of potential as the mainland city does? If yes then I have to disagree and if no then there is no reason why the rates should be so high in the first place. Which means that Navi mumbai as of today is grossly overpriced and the buyer should be aware of it and not expect a huge return immediately...now we all know why and who is behind it.....lastly comparing it with cities like pune and chadigarh is a strech because Navi Mumbai as such is only 25 years old while these cities have a good old legacy to them and hence self sufficient. The only reason the future for navi mumbai is brighter than these two cities is its proximity to mainland mumbai...we can deny it as much as we want but thats the fact and thats my opinion.

jadhav_ravi

Compared to Mumbai the rates are not high. Even compared to central Pune, NCR & Bangalore, rates in Navi Mumbai are competitive. Nowadays flats in nasik sell for 2500 psf!


I compared with pune, because Pune took off mostly due to mumbai-pune expressway & proximity to Mumbai. I compared to Chandigarh bacause it is again an artificial city like Navi Mumbai. As the first planned city of India, Chandigarh is known internationally for its architecture and urban planning. It was this role model that made Maharahtra to use CIDCO. Mumbai cannot easily offer better lifestyle as compared to international cities due to the haphazard development. As compared to this, Navi Mumbai has the potential to be the next Shenzhen.

sansunder

So jadhav-saheb

I took your advice and contacted Kalpataru to get some information. As Sharpj correctly said they do charge a hefty premium. They have 1082 sq ft BHK and their garden view is 4600 and non-garden view is 4400 with 25 floor rise.

So if we consider a 4th floor garden view flat, we are talking approx 50 lacs add compuslory parking, development chgs, and all govt levies, we appear to be in the range of 60 lacs. The first thought which came to my mind was OUCH!!!

I have decided to get some information on Indiabulls Panvel A very preliminary review of the posts bring up some concerns about quality of construction, completion date (December 2012), location, toll naka, load etc. But the builder is reputed and rates are I think around 3000 per sq ft.

At this points it looks like I might be skipping Khargar, panvel entirely..and head towards Dombivli direction.. (since parents live in Thane) or even better be a ghar jamai.

Will keep you all posted.

SSS

jadhav_ravi

In Dombivali you will pay 30L.

What is the point in Dombivali?? Dombivali will be an annexe to Thane with nothing more than crowding. Atleast navi mumbai promises (albeith tentatively) to deliver theme parks, airport, local train, course, parks, metro, sez, sea link, ....
If you are in no hurry than get in an under-construction project as if the airport gets approved you will definitely see good appreciation.

shirsh1904

Should one opt for a resale at Adhiraj Complex Sector 5 or a new flat at Sector 27 with Sai Developers both in terms of returns in form of rentals for the next year or two, self occupation and prospects of appreciation?
Will be grateful for opinion from people staying at Kharghar and others who are aware of the facilities and property trends in the area.