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Old February 13 2012, 02:52 PM   #11
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I consider Parsvnath Exotica to be one of those projects that won't get completed ever. The other such projects are also of Parsvnath on GT Road (near Aradhna Cinema).

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Old February 13 2012, 03:02 PM   #12
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Just avoid Parasvanath. Dont get trapped.
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Old February 18 2012, 11:04 PM   #13
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Visited Parshavnath office yesterday at Parsavnath Towers Shadara Metro Station, met their VP, Marketing. He assured me that though the project has been delayed, but they have got FDI (Sun Apollo) of 100 Cr in their Escrow account. Meaning that they can not diverge funds to any other project. Entire fund will go in construction of Exotica project only. He assured that project (Tower -E) will get delivered in stipulated time of 3 Years.

I then checked with the Banks who have sponsored the project LIC Housing Finance, PNB Housing Finance, Union Bank. They confirmed that Land title is clear and legally project is clean. They also mentioned the response they are getting for newly launched towers.

After in depth analysis of my requirements, offerings in the market and ground situation I booked 4th floor flat in their newly launched Tower - E.

Cokkie, Jai & Mohan.. Thanks for your inputs and valuable comments frnds..I must say that this forum provides authentic and unbiased information.

Cheers
Om
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Old February 19 2012, 09:04 AM   #14
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Quote:
Originally Posted by Om1981 View Post
Visited Parshavnath office yesterday at Parsavnath Towers Shadara Metro Station, met their VP, Marketing. He assured me that though the project has been delayed, but they have got FDI (Sun Apollo) of 100 Cr in their Escrow account. Meaning that they can not diverge funds to any other project. Entire fund will go in construction of Exotica project only. He assured that project (Tower -E) will get delivered in stipulated time of 3 Years.

I then checked with the Banks who have sponsored the project LIC Housing Finance, PNB Housing Finance, Union Bank. They confirmed that Land title is clear and legally project is clean. They also mentioned the response they are getting for newly launched towers.

After in depth analysis of my requirements, offerings in the market and ground situation I booked 4th floor flat in their newly launched Tower - E.

Cokkie, Jai & Mohan.. Thanks for your inputs and valuable comments frnds..I must say that this forum provides authentic and unbiased information.

Cheers
Om
I really like Parsvnath...they are extremely good.
However, the only thing, that puts me off is their history of extraordinary delays in completing their projects..
yesterday i read an article on economic times, that said parsvnath is among those 63 builders in ncr, who have delayed their projects by more than 4 years..
63 NCR home projects running late by 4 years - The Economic Times
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Old February 19 2012, 08:41 PM   #15
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Thanks Victors for sharing the link.. Indeed these so called big builders (almost all of them) has history of delayed delivery of these projects be it DLF, Supertech, Unitech or Parsavnath..

It seems that VP, Marketing of Parsavnath was correct that construction speed has picked up since FDI last 6 months. Its evident from google earth picture taken on 06/06/2011. The picture shows very few towers being constructed on that date and tower D in non existence.

Today tower D is under construction and they have completed almost 6 floor on each tower (total 12 floors). As I have already got the inventory booked, Now I can only pray that they live up to the expectation and deliver the project on time .

[Note: Please refer to attached Google earth snapshot]

Cheers
Om

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Originally Posted by victors View Post
I really like Parsvnath...they are extremely good.
However, the only thing, that puts me off is their history of extraordinary delays in completing their projects..
yesterday i read an article on economic times, that said parsvnath is among those 63 builders in ncr, who have delayed their projects by more than 4 years..
63 NCR home projects running late by 4 years - The Economic Times
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Old February 25 2012, 09:29 PM   #16
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Default Parshavnath Exotica GZB -- Arthala

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Thanks Cookie & Amit, i know that this project has been long over due and has history of delay. I had word with some of the brokers and they said that work has picked up pace after Foreign Direct Investment from Sun Apollo.

Currently builder has offered me price of ~3200 all inclusive (Service Tax, Registry Extra). I came across this project just couple of days back so not sure of the history of this project. Do you guys see any future for this project..

Thanks
Om
I was also making enquiry about this project. I have been told that rate is 3450/- which comes to 3300/- after adjusting inaugural discount of 150/- So ur rate of 3200/- is not clear to me. By the way at what rate you booked the flat and you could get how much dealer commission and through which dealer you booked the flat.
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Old February 25 2012, 10:33 PM   #17
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I was also making enquiry about this project. I have been told that rate is 3450/- which comes to 3300/- after adjusting inaugural discount of 150/- So ur rate of 3200/- is not clear to me. By the way at what rate you booked the flat and you could get how much dealer commission and through which dealer you booked the flat.

Well this project is launched many years ago. It is amazing still they are giving inaugral discount.
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Old February 26 2012, 11:48 AM   #18
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Yes, Its true that current price of the project is 3300 (after 200 psf inaugural discount). I got the price of 3200 after rigorous negotiation with broker.

It comes out around 3% discount over and above inaugural discount.

Cheers!!
Om

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I was also making enquiry about this project. I have been told that rate is 3450/- which comes to 3300/- after adjusting inaugural discount of 150/- So ur rate of 3200/- is not clear to me. By the way at what rate you booked the flat and you could get how much dealer commission and through which dealer you booked the flat.
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Old February 26 2012, 12:32 PM   #19
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Prabal, I got a chance to look at their BBA & indepth chat with broakers and some of marketing guys from Parshavnath, Below is what i have understood from it.

1. The land measuring 31 Acres of Arthla village, Pargana Loni was acquired by Parshavnath Developers Limited with their collaborators.

2. Parshavnath Developers Limited did agreement with collaborators to develop the land acquired by them on October, 2004.

3. Project was soft launched but no construction happened.

4. During early January 2011, Parshavnath Developers Limited managed to get 100 Cr FDI from Sun Apollo, a US based real estate company. They formed company by name of Parshavnath Buildwell Private Limited and officially re-launched the project. So Technically, the project was launched in first quarter of 2011.

5. They are offering inaugural discount on their newly launched Tower E (launched some where mid of January 2012).

6. Tower E houses smallest floor offered in this complex (1380 sqft), rest all the floors are of larger area (and of course very high cost ).

7. I did a comparison of their construction speed, and got some evidential proofs that it has picked up pace.

8. Google earth image taken on 06/06/2011 (pls refer to previous post) suggests very few towers being constructed, in-fact only 2 towers were in existence. I visited the site yesterday (25/02/2012) and can see that 9-10 towers are in construction and construction was in full swing even after 6pm.

Please refer to images.

Thx
Om



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Well this project is launched many years ago. It is amazing still they are giving inaugral discount.
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Old February 26 2012, 09:14 PM   #20
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Quote:
Originally Posted by Om1981 View Post
Yes, Its true that current price of the project is 3300 (after 200 psf inaugural discount). I got the price of 3200 after rigorous negotiation with broker.

It comes out around 3% discount over and above inaugural discount.

Cheers!!
Om
Thanks, Om

I understand that rate of similar flats at Raj Nagar Extn is 2200/-psf. Compared to this, Whether rate of 3200/- at Parsvnath Exotica is reasonable.
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