warhound

Omaxe twin towers - sector 50 Noida.

Has anyone on this forum shown interest in this project ?! Reason I ask is im trying to see if people have been able to haggle the builders for a better price.

They quote a BSP of 5500 for a 2150 sqft. I was reading an article ]http://www.qubrex.com/story/2008/11/29/1209/9070[/url] where she managed to haggle the builder to 4850 swft and said he was willing to go down further if she had a "check" ready.

So fellow NCRites, enlighten me if you have gotton any better deals on this. shall help me greatly when i visit delhi this summer...

amit_2009

Paying anything above Rs 3000/psft for luxury appts and anything above Rs2000/psft for regular appts in Noida Sec50 would not be advised. Do not get carried away by the marketing brochures or sales pitch by the developers.

btw, it is no use negotiating in today's scenario. Wait for another 9 - 12 months and you will get the same properties at less than 60% below today's prices.

warhound

Point taken, however consider this:


http://img2.imageshack.us/my.php?image=omaxe.jpg

I had asked the company to forward me the spots available for purcahse left in the twin towers and that is what they sent me.

Out of a possible 144 apartments they have already booked 118 as of last week. If there is a pressure to correct outrageous BSP, then I in my experience havnt seen it happening yet.

Im double minded if I should just go ahead with jaypee greens noida Imperial court going for around 2500 sqft according to information from members on this forum or wait another 6-9 months. I do not wish to see it selling out while I wait for BSP to hit rock bottom.

Any suggestions would be much loved and appreciated !

cheers.

amit_2009

being privy to investor groups in delhi-mumbai, here is what is happening behind the scenes.

the builders are trying to sell only 40%-60% of their just-launched or underconstruction inventories in the current scenario. The rest they plan to sell when the market supposedly improves 4-6 years down the line. And by that time the buildings and projects should be fully completed, so they plan to make bigger profits at that time.


Do not be influenced by the sales figures shown. They are just bluffing. And the fact is most of these pre-bookings get cancelled as the months progress.

Think like an investor, suppose the lower market rate is 6000/psft and you book a 1000sqft flat at that price.
Price = 60L
Booking price = 2L-5L

Suppose the market rates reduce to 4500/psft (only 25% decrease).
Price = 45L
Loss since booking = 60L-45L = 15L

So the investors happily cancel their booking at no interest refund of booking amount or even at a 10% penalty (i.e. 10% of 2L to 5L = only Rs 20K to Rs50K), just to prevent that 15L loss in valuation!

The best way/point to purchase will be if you get a price which is not more than 20 to 25 times the average annual rent in a similar appt in a similar location.

mogmog

They've been quite decent with us so far, and weve picked up the booking for an apartment here, we are satisfied with the progress and the pricing we got too. We "booked" in 2nd quarter 2008, and have just paid up for the 7th floor instalment, taking us past the 50% mark on payments. We are told it will take about another 18 months for possession, anybody got inputs there?

I don't think the prices will fall any further. Though a quick look at the balance inventory shows that most of the apartments are on the non-sunny side of the complex.

Overall, I think the bottom was reached as far as prices went, and from now on it will also involve checking out clear title as well as timeline and punctuality of the project involved.

Good luck.