Gangaram

Fountain Square is to be built by builder from DN Nagar. The builder has no past track. It seems to be scam. If you Google with “Fountain square Oshiwara” you will note the posting from Dilip Sharma about this location and rate is posted 5100 rupees Sq Feet. I don’t think they can complete the project in 3 years as claimed. No bank has approved this location or building. My guess is that the location of this proposed project is in Behram Bag Jogeshwari and in Muslim area. No information if they have all the permission from BMC. One need to find out the full information through good agent or good lawyer before you plan to buy .

chaitalsa

hi ! Did any of you proceed with purchase of this property . We are also offered the same and were wondering whether to go for it. Please advice

geeee

The price seems too good to be true. That sort of price is being offered in Thane and Navi Mumbai. Also, I looked online and there were a few posts by some agents on various real estate classified sites and all of them seemed to indicate a different completion date. I'm not sure what to make of this but, the more likely outcome is going to be a long delay in getting all permissions first and then further delay in completion. So, if you don't mind waiting a few years longer than what these guys are indicating and you get all the documents verified and registered, I think it would make for a high return investment (with the associated high risk).

Does anyone know who the builders are ? (the people who own the company not the name of their company).

ash khan

Hi every body,

When I heard about this project even I was interested because the rate of 5100 is unbelievable in this area. I visited the site and it is very close to my house in Lokhandwala, therefore, I am very familiar with the area. Those who are talking about location, please note that across the road opposite to the project site is the Huge Oshiwara Nala crossing. Also right opposite to the project location is graveyard and cemetry, around the location are all Bhangarwalas and other slums which I think shall stay for 5 to 10 years more.

This is the reason I did not booked in Imperial Heights because a connecting Road which connects SV road and link road runs between these two projects. I was very close to make booking in Imperial Heights 18 months ago. Then, I was offered 8500/ psf + floor rise (there was possibility of waiving off floor rise). I was very impressed with the way Imperial Heights Construction, Rooms designed, high quality materialse used, amenities etc. I would rate it THE BEST project from Lokhandwala to Goregaon. Rustomjee is no where close to Imperial Heights I can say confidently because I even visited Rustomji Ozone. Imperial Heights is truly 7 star but the only drawback is the location.

sattebaaz

My sentiments exactly. And lets not forget, Rustomjee's construction is pretty good.
However, Imperial Heights seems to have run into some sort of trouble. Only 2 out of the 4 wings are getting constructed. This also makes me think that the builder might pull a royal palms fiasco, by compromising on the fitings and finishing.

fountainsquare

Hi All,

I lived nearby to MegaMall. When I cam to know about Fountain Square, after verification through reliable souces I offered the agent/distributor Regal Estate/Lokhanwala Office booking amount and have booked the flat 2bhk 5500 for 940sft in Ist week of January,2010. As per Agent/builder/investor (Regal Estate) I have to pay 50% in within this months time to get allotment/flat number-floor etc. I am in process. Doest anybody has more information please share. aijazdhotmail.com

fountainsquare

Hi

Recently I offered token for the new coming tower ( possesion dec 2012) Fountain Square Oshiwara Jogeshwari-Mumbai by Shubh Builders, I came to know about this property through Regal Estate in Andheri- Lokhanwala, they are investors/builder agents. I have offered token on 1st Jan 2010, for 940sft 5500. I am advised by the Regal Estate agent to pay 50% right now and rest of the amont as per slab wise starting after one year from now. I am yet to receive allotment/confirmation of flor number/flat number, for which my agent is working with builder for allotment letter confirmation. Once he is confirmed I have pay 50% including cash 1000 sft ( around 10 lac) right now total 25 lac appox (agreemnt will show 4500sft). Any body who is sailing in same boat:::

sattebaaz

As someone pointed out earlier, it looks like a high risk/high return investment. No approvals in place and high probability of delay. As long as the amount is not your life savings, and you have
confidence in your decision its all good. Who knows a couple of years down the lane, people like me will try to get hold of this apt at twice your
original cost

veeemkay

Possible... the other side of the coin is that who knows in two years time where the builder might have disappeared.

VK

ar19kh76

Hello,
I have also booked a 1 BHK flat in this building and paid advance of 11 lacs already by demand draft in Oct.. Now Iam bit confused whether I made a good decision or not. My worry is not project delay but a possible chance of scam. Members, Pls. advise as per your knowledge. I have just seen piling initial stages so far.

BR.