desidude

I went to the site and they had SBI folks sitting there for loans? Is it worth it and legal? any help is appreciated

veeemkay

Desidude,

vyerth has posted in the same thread that..."I have gone to two banks (HDFC and IDBI) asking if they would grant me loan to buy in Royal palms and they have refused me loans. They say there are some legal hassles... "
If you are indeed serious Why don't you go and ask for home loan from HDFC or IDBI and then ask for what are the legal hassles..to get a better idea.

VK

vyerth

Hi Desidude,

Did you do any query with SBI guys. If they are there then its great. It ensures that everything is well. Things may have changed in last few weeks. Royal palms has gone out of my mind but I really like the view from one of the highrises.

Go for it if SBI gives you loan. But I must say that the electiricity is from MSEB rather than Reliance or Best. What does it mean? well I think it means more powercuts which is unlike Mumbai where we have consistent power. Water is still a problem. One of the buildings... 'summit' they said have just started with 24hrs water.. god knows if that is true.

Many of the people i have talked about Royal Palms say the construction quality is not good. I really liked the lake view flats which were good quality though.

Hope you have a good buy.
Cheers!

ppad77

Hi there,
I m not here to criticize anyone, but loans are possible on these flats and this area is not forest land at all!!!
This is a private piece of land, surrounded by Aarey Milk Colony on one side, Film City on other and National Park (forest land) on the rest side.
We recently bought 3 flats there (2BHK & two 1BHK) and a friend of mine got a 1BHK. 3 flats out of these were on loans, 2 from Central Bank of India and one from Bank f Baroda. All these loans were cleared within a month of applying.
The current rates there are around 4500 psf...if u see in Mumbai suburbs, there is no other place with such low rates, Kandivli Lokhanwala is more than 3 kms form the station and people are asking 6500 there. I know the construction is good there, but the rate is high too.

There are private buses to Royal Palms from Goregaon (E) as well as BEST 452 every 2 mins. and it is around 2 to 3 kms from the station. It is a zero pollution area and the surrounding greenery will never be destroyed.

Yes, the construction is not at all up to the mark. Thats a big drawback, but where can u buy a flat in Mumbai in a 20 storey tower under 50 lakhs.

Also if you haven't heard......RAHEJA is planning to take over Royal Palms from Nensey, this shud be over within about 2-3 yrs. Just imagine what wud be the value of this property after the take over???

Its only 3 kms from station, 2 kms from Western Express Hwy, on the other end is Powai (easy access to new mumbai and going out of mumbai).
I like this place maybe bcoz I have been living outside India since the last 12 yrs n I find it calm n soothing there. Also the view from my flat is awesome, I can see lush green aarey property, film city, towers near express hwy and also the sea. So its a great buy for me and my family & friend. The water is now 24 hrs and the electricity is also pretty good. Sometimes they do load shedding coz there are new constructions in the surrounding area and they use the power there for some time.

Sorry for bugging u guys with such a big post...but I just felt I shud let u guys know that theres no harm in buying a ready possession flat in Royal Palms. Plz dont go for booking of future towers, U will have to wait double the time mentioned by the builder...that I can guarantee.

Bindaas_2009

I recently invested in Ruby Isle project. I am thinking of forming a e-group or maintain contact list of those who have recently invested in Royal Palms as of year 2009. The rationale for having this group is for a common cause and ensuring we as a group will surpass the following hurdles while investing in newly build apartments:

1. Accessibility of Builder documents while applying loan (documents like encumburance, approved plan documents etc).

2. Potential delays in Flat Possession/Building Construction

3. Delays in transfer of ownership or Society Formation

4. Water, Electricity cut off related issues etc.

Please share your thoughts on this thread.

Thanks.

vyerth

You are spot on the problems in the royal palms.

I somehow getting back to royal palms again and again, guess its destiny.
I have been told, Bank Of Baroda is giving loan and SBI as well.

I feel the main issue with living in Royal palms is non existence of society.

MSEB electricity
WATER shortage

Building with Society like Palms1, has reliance energy and water is 24 hours. (That is what I have been told) and I am attracted to it. But why don't the developers get the reliance energy in from begining and sort out water.

My other issue is the size of the bedroom is so small. Guess its my problem, most of the flats have so much of loading in bombay that there is not much of carpet area. And there is so much of wastage of real space and resources... None of the buildings in Royal palm have a corridors with natural light. Bad architecture and planing I would say.

Hope things change with the new ones.
Cheers!

Buyer2009

Hi all..

I recently invested in flat in undercustruction aprtment in Royal palms... with Loan sactioned from SBI.

So I can assure about the legal status of the property as legal check for SBI is considered as the best in the comparision.

The decision making point for me was the greenary surrounding the property & the slashed rates.

Regarding the possession, I have been told August 2010.
I support the idea of forming e group of investors in Royal Palms.

buyerguy

I visited the place month. It is pretty bad, Not just the isolation and the horrible access road (which will make your car need attention), but the construction quality is bad. Even the '5 star' hotel interior looks like it was built in the 70's. Not worth it.

techmate

Not sure. They are advertising Rs 3999 psf. God knows when will be possession date? The worst part is that they have not quoted any date for possession either in Newspaper advt or on Website. If anybody has invested, what dates have been quoted for possession?

cust_indiabulls_panvel

from the face of it, it looks a very attractive project - situated amidst lush green surroundings. I first visited the place in 2003-when the rate being quote was around 2400sq/ft. However, i was wary of the fact that they could not show me a master plan for the overall development.

My repeated visits over the years have confirmed my initial fear - the project seems to be developed in haphhazard manner. I wish they coul plan something on the lines of Hiranandani, Powai.

Secondly the quality of constructions leaves a lot to be desired. I agree with some of the posts that the view in one or buildings is amazing- there is one apartment which is situated on a hill top and Royal plam claims it is built in some thai style. I last visited Royal palms in august 2009 when they started the so calld "Clearance sale" at a "throw away price" - but I could not still convince myself to buy a property there.