sanjaynerkar

Hi Amit, I purchased these flats ~ 2 years ago. There was delay in consturction of Aradhana. Now both Aradhana and Sharna will complete in ~ May 2010( as per the builders). Aradhana has more amenities and nearer to train station than Sharan. As far as my information, the builder is good.
I am not sure about the current rate.
Good Luck
Sanjay

amitdev6

I agree with Tukaram' comments. The reality prices are escalated due to the following:

1) The existing buyers (read investors) who want to have higher and higher realization of their investments
2) The Builders who want to maximize their margins (costs being nearly same v/s the growth in margins)
3) The agents who want to have higher commissions
4) MORE IMPORTANTLY - Ignorant prospective buyers - who cave in from baseless information provided by irresponsible people who do not verify someone comments before sharing it with all other people like Chinese Whispers.

Apart from that the Government' New Tax Policy - supposed to be implemented by 2011 - IF IT COMES TRUE - then would mean that the prices would come crashing down.

This again is due to the following (proposed measures by RBI):

- Tightening of lending to Builders
- Tightening of lending to Retail Investors (norms)
- Tax structures being different for NRI and RI....Please note that NRI community has a big role in the inflation of prices as well....with the proposed Tax Structure changes for NRI (and their property investments) as well as the Taxes proposed on 2nd property owned by an individual prices are 100% going to go down as demand will surely be hit....(i am calling this a 2nd round of recession which will come in 2011 IF THE POLICY comes into effect what it is proposing today!)
- Higher Interest Rates
- Lower Demand

If all of us are ready to wait till then (or at least a sizeable part of time till then) then we could see the lower demand affecting the smaller builders and their pockets who in turn will reduce the prices....

But the most important question is whether all of us would be able to hold on to our horses and create reverse pressure? We certainly have the power.....

Amit

krishna1

I fully agree The higher price is not justified for at least kharghar. All the cidco plots are lease hold for a period of sixty years. One never know what will happen after sixty years there is no clause for renewal. This may lead long term litigation and our next generation has to fight for the same. When we buy property we buy it for generations. If you are buying a property on resale where in already say 20 to 25 years lease expired then be careful that you may have face the music in your lifetime only. Brokers and builders underplay this fact that the land is lease hold. Normally lease hold properties are for 99 years but cidco restricts it to 60 years.

geeee

That's hardly a genuine concern. CIDCO is a government body and even though the land is leasehold, there is absolutely 0% chance that the lease would not be renewed. The lease will be renewed, the lakhs of people who have bought houses in New Bombay aren't idiots.

geeee

I don't know on what basis you state that the prices have been escalated by the builders. In fact I think most builders who bought land in Kharghar around 2007 are barely making money. Plots in Kharghar were sold for as high as 1 lakh per square meter. The usualy FSI is about 1.5. If I got the numbers right, just the cost of land for those plots is about 6200 psf add to that 1000 psf (minimum) for construction. The cost for the builder is in the region of 7500 psf. The current prices in Kharghar are generally around 4000-4500 psf (maybe upto 5000 psf for certain projects). At those rates the plots purchased at 1 lakh per square meter will never make money. And even if you consider those as aberrations (those were commercial plots), I think even the residential plots were sold around 30k-60k per square meter. Just the cost of land and the cost of construction for the builders for plots purchased around 2007 should be about 3000 psf add to that the cost of capital (whatever the builders borrowing cost was ~14% maybe) and other expenses. After you factor all those, the profits aren't that huge. In my opinion its unlikely prices in Kharghar can fall much lower than where they are currently (if they do fall).

shraddha

I am planning to invest in a project in Kharghar, Sai Saakshaat, which is a joint venture between concrete builders and kamdhenu realities. Can anyone give me any feedback on the past track record of these builders?

sanjaykg

Avoid this project

very heavy loading
expensive for amenities like club house
expensive car parking
and maintenance charges will be high

__________________
Kind regards.

SKG

express

VERY TRUE. The bubble is about to burst. I am an NRI and was unsuccessful in buying a decent 2BHK flat since 2005. I just cannot come to terms the prices the builders are quoting.

rajivmenon3134

Hey ...I have seen some of the projects of Arihant builders and it seems they are pretty good builders ...however If u r going for a flat in Anaya...I have heard that a plot has been reserved somewhere behind anaya for a Central jail.Pls verify before you buy....

dsp23dsp

Hi All,
Can you please let me whats' the current market prices running in this area (like Sector 30G), as planning for one at Arihant Anaya or something similar in that area, say like amenities/facilities.

Also what's the current status of International Airport in that area.

Thnx in advance.