Lake Homes, Powai: How is this project? Builder Reputation? - Page 2 - Indian Real Estate Forum

wadia · 03-06-10

it is not brand ekta it is brand powai

razer · 03-06-10

Last I checked rates at Lake Superior were 18000 + floor rise.

And guess what, most of it is sold out.

And what is actually amazing is that some have bought jodi flats, full floor, and some have converted into two into a duplex.

Pricing is around 9cr or so for the 5BHK apartment. I've seen it from the inside, it's mad.

wadia · 03-06-10

18 crores for a jodi flat.

Must be some high profile estate agent. It take 2C to speculate on such a flat

If he books using 2C and then sells at 36C he will earn 18C. If he cant find buyer in next 1 year he will lose 5% which is 50 lakhs.

razer · 03-06-10

Quote:

Originally Posted by wadia

18 crores for a jodi flat. Must be some high profile estate agent. It take 50 lakhs to speculate on such a flat

Clueless who could afford such apartments. Bollywood maybe?

wadia · 03-06-10

no bollywood. It is the estate agent. I am sure there is no one so stupid to buy 18C flat in powai. They would have rather booked at Indiabulls One in worli at the same price.

In past 4 years they have not been able to sell the 50 odd flat what is the chance that they are sold out.

razer · 03-06-10

I'm sure there'd be plenty of takers at 5cr, and thereabouts.

sattebaaz · 03-06-10

This "sold out" technique is losing its effectivness. Lot of speculators are
still playing the "greater fool" theory, and some have tied up with the builder.
As wadia stated, make a downpayment of 10%-20% and then keep waiting till you can find a fool to buy the apartment.

The only problem is faced by those genuine owners who have made the
downpayment.

The builder slows down the work (as you can see what has been done by Ekta to Lake Superior project) as the speculator/investor has no intention of making slabwise payment, and only people who get stuck are end users who have already made the downpayment with the intention of taking posession on time.

wadia · 03-06-10

well noted sattebaaz. Its called milibhagat. Builder-agent-investor-bank nexus. They all help each other.

Sharpj · 03-06-10

Well actually if all the apartments are sold out.. always wonder why do the sales people still sit there..
All you need to do is just some administration people..
If it is sold out.. why do you drag on the project.. complete the project ..collect your money and get out..

razer · 02-09-10

Quote:

Originally Posted by jagdishpeswani

i have compact3 bhk to sell. its 1250 sqft any one interested pls contact me jagdishpeswani1975yahoo.co.in its my own flat with podium car park.

Rate, price?

03-06-10	#13
wadia Senior Member Join Date: Apr 2010 Posts: 637 My Mood: Thanks: 0 Thanked 5 Times in 5 Posts	18 crores for a jodi flat. Must be some high profile estate agent. It take 2C to speculate on such a flat If he books using 2C and then sells at 36C he will earn 18C. If he cant find buyer in next 1 year he will lose 5% which is 50 lakhs. Last edited by wadia; 03-06-10 at 10:09 PM.

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03-06-10	#12
razer Member Join Date: Dec 2008 Posts: 407 Thanks: 0 Thanked 0 Times in 0 Posts	Last I checked rates at Lake Superior were 18000 + floor rise. And guess what, most of it is sold out. And what is actually amazing is that some have bought jodi flats, full floor, and some have converted into two into a duplex. Pricing is around 9cr or so for the 5BHK apartment. I've seen it from the inside, it's mad.

03-06-10	#17
sattebaaz New Member Join Date: Dec 2009 Posts: 34 Thanks: 0 Thanked 0 Times in 0 Posts	This "sold out" technique is losing its effectivness. Lot of speculators are still playing the "greater fool" theory, and some have tied up with the builder. As wadia stated, make a downpayment of 10%-20% and then keep waiting till you can find a fool to buy the apartment. The only problem is faced by those genuine owners who have made the downpayment. The builder slows down the work (as you can see what has been done by Ekta to Lake Superior project) as the speculator/investor has no intention of making slabwise payment, and only people who get stuck are end users who have already made the downpayment with the intention of taking posession on time.

03-06-10	#19
Sharpj Senior Member Join Date: Mar 2010 Posts: 765 My Mood: Thanks: 7 Thanked 15 Times in 11 Posts	Well actually if all the apartments are sold out.. always wonder why do the sales people still sit there.. All you need to do is just some administration people.. If it is sold out.. why do you drag on the project.. complete the project ..collect your money and get out..