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IREF® - Indian Real Estate Forum > Real Estate in India > Real Estate Mumbai > SAI City -2 at Powai by SHREE SAI Group
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Old April 7 2014, 12:03 AM   #11
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I had a look at the property today. the 12th slab has been completed and construction seems to be going well. the construction quality is average. Indiabulls guy told me 2 more towers are expected to come in on that plot and a 5-star hotel in the future.
The location seems good. Any thoughts about the past track record of the builder? and the property? would really like to hear from others who have invested in here..

 
Old April 7 2014, 08:25 AM   #12
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5-Star Hotel is the Radisson right opposite the construction site. Don't believe another one will come up on this plot.

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Originally Posted by ankurgupt View Post
I had a look at the property today. the 12th slab has been completed and construction seems to be going well. the construction quality is average. Indiabulls guy told me 2 more towers are expected to come in on that plot and a 5-star hotel in the future.
The location seems good. Any thoughts about the past track record of the builder? and the property? would really like to hear from others who have invested in here..
 
Old April 7 2014, 11:15 AM   #13
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despite the hotel: what are your views on the project, locality and the builder? Even after taking into account the fact that Sai is not a reputed developer the pricing seems to be at a discount considering its location.
 
Old April 7 2014, 09:48 PM   #14
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What pricing are you getting? It was going around Rs. 11,000/- psf a couple of months ago.
Lower pricing can be attributed because of: this being a SRA project as opposed to most other projects in the area e.g. Lodha which are on Freehold land.
The Slum rehab building has not been constructed, typically the slum rehab building has to be completed before the regular building can be constructed and sold. The builder will have to get the slum rehab building completed and get the slum dwellers moved in before he can get an OC for the current building. So, at the end of the day, the building may get completed soon, but, getting occupation of your flat would depend on when the slum building gets completed.
The last thing you want to be is in a situation like Lodha where the builder takes 90-95% of the money saying all the slabs are completed and then makes you wait for 3 years to give possession.

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despite the hotel: what are your views on the project, locality and the builder? Even after taking into account the fact that Sai is not a reputed developer the pricing seems to be at a discount considering its location.
 
Old April 8 2014, 09:36 AM   #15
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I spoke to one of the India Bulls agent and he claimed Slum rehab building is almost complete - did someone visit the site ?
He was quoting 10600 + 50 (floor rise) persqft.
 
Old April 8 2014, 11:30 AM   #16
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the SRA building is currently at plinth level. its expected to be a 15 storey building. Builder is quoting a possession date of July 2015; it is impossible for a 15 storey SRA building to completed in 15 months.
Although, the Indiabulls guy did tell me that the builder is willing to pay 9% interest on the agreement value if the flat is not handed over by the committed date.
humble_guy and darkhorse like this.
 
Old April 8 2014, 11:04 PM   #17
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Originally Posted by ankurgupt View Post
the SRA building is currently at plinth level. its expected to be a 15 storey building. Builder is quoting a possession date of July 2015; it is impossible for a 15 storey SRA building to completed in 15 months.
Although, the Indiabulls guy did tell me that the builder is willing to pay 9% interest on the agreement value if the flat is not handed over by the committed date.
No way the developer will give possession by July 2015. I don't see this project getting OC before 2017.
On the interest clause, building is willing to pay 9% on entire agreement value until possession? or is it a one time payment of 9%
 
Old April 10 2014, 07:08 AM   #18
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No way the developer will give possession by July 2015. I don't see this project getting OC before 2017.
On the interest clause, building is willing to pay 9% on entire agreement value until possession? or is it a one time payment of 9%
the Indiabulls guy mentioned 9% on the agreement value. I would assume this to be an annual payment but one needs to see the agreement to understand this better.
 
Old September 5 2014, 07:44 PM   #19
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any launches near powai please inform me
 
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