Riverside Park, Takka, Panvel - Indian Real Estate Forum

Sunita_Subramanian · 24-11-09

Hi all,
I am interested in a 2 BHK in the Riverside Park project at Panvel. Builders are the Moraj group. They are quoting about Rs. 3000 psf. It is advertised as 33 building complex with all amenities and about 600 flats are already sold and occupied, as per the Site office staff.
Will anyone who has either purchased a flat in this complex or has visited it, please guide me on the viability, location, facilities, schools in the area and transport facilities.
Thanks!
Sunita

veeemkay · 25-11-09

Quote:

Originally Posted by Sunita_Subramanian

Hi all,
I am interested in a 2 BHK in the Riverside Park project at Panvel. Builders are the Moraj group. They are quoting about Rs. 3000 psf. It is advertised as 33 building complex with all amenities and about 600 flats are already sold and occupied, as per the Site office staff.
Will anyone who has either purchased a flat in this complex or has visited it, please guide me on the viability, location, facilities, schools in the area and transport facilities.
Thanks!
Sunita

3000 psf in Panvel!!!!! This is absurd.
Go buy somewhere in Pune or Ahemdabad. Atleast these are big cities.

VK

Sunita_Subramanian · 25-11-09

I agree, 3000 psf does seem to be on the higher side. They said that rate can be negotiated down to 2800 psf. Also said that for a 950 sq flat total costs, including parking etc should be approx 31 lacs. this seems high but then it is a big project.
Am planning to visit the site and see for myself, have detailed financials and then think about it. Problem is, Panvel is so far off !!!
I am also told that there are schoold like DAV, Ryan etc in Panvel, which is good.
Thanks for you feedback.

veeemkay · 26-11-09

If you are planning to live there.. it is a different story...

but for investment there atleast needs to be something happening there... why do u expect people to move there and buy at higher rates..

VK

Sunita_Subramanian · 26-11-09

Any idea what rent can we get if we let a new flat in Panvel in the Riverside project?
Also, if I sell an existing flat after holding it for below 2 years, short term cap gains taxes are charged (30%). This is steep. But if the entore proceeds are put into another flat purchase, will tax still be levied?

sreekys · 29-11-09

To the best of my knowledge if you buy a house from the proceeds of the sale in the same financial year you can avoid this tax.

jamul_2002 · 06-12-09

Hi Any development in Riverside? I am also planning a visit thr. Can u please update me.

apna_jhopda · 08-12-09

Hello,
Can anyone provide a link to this project website? It will help to get some info on location etc.

One reason why they are expensive now is most likely because of the "potential" international airport. Apparently the plans are underway but in reality who knows when it will be finished, right? Until then the builders are milking the cow for all they can..and then some more.

home4sunil · 09-12-09

I have been to the site. The rates are exorbitant. Additionally, the traffic is horrible in the evenings and you can see a dense smog on the skyline. Dont think its worth living there.

novice · 02-03-10

Anyone who has bought a flat in this project?

24-11-09	#1
Sunita_Subramanian New Member Join Date: Nov 2009 Location: Kopar Khairane, Navi Mumbai Posts: 7 Thanks: 0 Thanked 0 Times in 0 Posts	Riverside Park, Takka, Panvel Hi all, I am interested in a 2 BHK in the Riverside Park project at Panvel. Builders are the Moraj group. They are quoting about Rs. 3000 psf. It is advertised as 33 building complex with all amenities and about 600 flats are already sold and occupied, as per the Site office staff. Will anyone who has either purchased a flat in this complex or has visited it, please guide me on the viability, location, facilities, schools in the area and transport facilities. Thanks! Sunita

09-12-09	#9
home4sunil New Member Join Date: Dec 2009 Posts: 6 My Mood: Thanks: 0 Thanked 0 Times in 0 Posts	That place is horrible in the evening I have been to the site. The rates are exorbitant. Additionally, the traffic is horrible in the evenings and you can see a dense smog on the skyline. Dont think its worth living there.

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25-11-09	#3
Sunita_Subramanian New Member Join Date: Nov 2009 Location: Kopar Khairane, Navi Mumbai Posts: 7 Thanks: 0 Thanked 0 Times in 0 Posts	I agree, 3000 psf does seem to be on the higher side. They said that rate can be negotiated down to 2800 psf. Also said that for a 950 sq flat total costs, including parking etc should be approx 31 lacs. this seems high but then it is a big project. Am planning to visit the site and see for myself, have detailed financials and then think about it. Problem is, Panvel is so far off !!! I am also told that there are schoold like DAV, Ryan etc in Panvel, which is good. Thanks for you feedback.

26-11-09	#4
veeemkay Senior Member Join Date: Jul 2009 Posts: 557 My Mood: Thanks: 4 Thanked 2 Times in 2 Posts	If you are planning to live there.. it is a different story... but for investment there atleast needs to be something happening there... why do u expect people to move there and buy at higher rates.. VK

29-11-09	#6
sreekys Member Join Date: Oct 2009 Posts: 200 My Mood: Thanks: 1 Thanked 4 Times in 3 Posts	To the best of my knowledge if you buy a house from the proceeds of the sale in the same financial year you can avoid this tax.

06-12-09	#7
jamul_2002 New Member Join Date: Apr 2008 Posts: 3 Thanks: 0 Thanked 0 Times in 0 Posts	Hi Any development in Riverside? I am also planning a visit thr. Can u please update me.

08-12-09	#8
apna_jhopda New Member Join Date: Aug 2009 Posts: 7 Thanks: 0 Thanked 0 Times in 0 Posts	Hello, Can anyone provide a link to this project website? It will help to get some info on location etc. One reason why they are expensive now is most likely because of the "potential" international airport. Apparently the plans are underway but in reality who knows when it will be finished, right? Until then the builders are milking the cow for all they can..and then some more.

02-03-10	#10
novice New Member Join Date: Jan 2010 Posts: 21 Thanks: 0 Thanked 0 Times in 0 Posts	Anyone who has bought a flat in this project?