aadi123

hi, i have recently booked a studio apartment in ceyane towers of supertech ltd in sector 93A, the builder is promising a return 12% on the amount invested, the flat is costing about 28 lacs, pls let me know if there is any loop hole in this deal, can these guys be trusted?

Venkytalks

If you have already booked, you should be optimistic because the plan as outlined by the builder is fantastic. If things go according to plan, your returns will be supra-normal.

Please keep us posted about it. Did you take a loan? How much discount did you get? Did you use a broker?

I have reviewed my experience with this project elsewhere in this site. Maybe I was extracautious, because I was sorely tempted by their business plan.

Thanks Venkat

raj0107

Hi Aadi,
As builder/dealers were promised for monthly return for Ceyane tower project , according to 12% return of 28 Lac , you should get 28 k per month. Have you received post dated checks from builder and that’s checks are credited in your account, I heard that many Ceyane investors checks were bounced.
As Venky says, This is realy fantastic plan but It should be implement by Supertech on time which is realy doubtful..
Hope so your investment will give you a good return..

Thanks
Raj.

nibha

I guess effective return would be less than 12 % as TAX needs to be paid on it ...
Tax Bracket --- Return
10% ------ 10.8
20% ------ 9.6
30% ------- 8.4

Plus the person would be required to pay education cess on the TAX ... 3%

sps1972

Don't worry aadi till it actually bounces for u ! One of my friend had booked in ceyane towers a year back and none of his post dated cheques has bounced. Though I was also tempted by Studio apartment but did not have courage to book anything due to 2 reasons a) high cost b) bad reputation of supertech as discussed in this forum, though I was told that IDBI Bank is giving loan on this. Besides, they have also changed the scheme which was offered earlier (return for 100 months, 100 % money back) to 50 months 12 % return now. Subsequent rent after possession will be on occupancy in the proportion of 40 : 60 in favour of supertech, which did not appeal to me. Besides, on a small space, they decided to increase to floors to 37 i suppose (from earlier 24).

Nevertheless, hope for the best.

Munish Malhautra

This thread has suddenly opened up again after 8 months
Am curious to hear if the initiator has been benefiting by this AR.

__________________
MM