Hi Guys ,

I m planning to buy phase -III 3BHK apartment in Adarsh Palm Retreat outer ring road . Do you guys have any feed back . Builder is saying that he will hand over possession 2013 December .
Do you have any info about the this project and how this deal is .

Price quoted is around 4500 SFT.
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  • Originally Posted by anshus12
    Hi Guys ,

    I m planning to buy phase -III 3BHK apartment in Adarsh Palm Retreat outer ring road . Do you guys have any feed back . Builder is saying that he will hand over possession 2013 December .
    Do you have any info about the this project and how this deal is .

    Price quoted is around 4500 SFT.


    This project was launched first in 2005. They managed to make 2 towers in 6 yrs.

    Many litigations are there in the land. Multiple times the plans was changed.

    You can google about it to get more info.
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  • Yeah the project was delayed due to fund issues with Adarsh. Now they have sold 50+ Acres to RMZ to build RMZ EcoWorld, which will be a Tech Park with more than 10Lakhs sq ft area and 10K car park.

    Construction quality of Adarsh is quiet good, much better than Prestige, Shobha, Purva etc. Talk to any owner in Adarsh they will complain about delay but not much about quality of construction.

    The whole project is of more than 300 acres, with any project of this size their are bound to have one or the other legal issues, get your piece of land checked and you should be okay.

    What other projects are there for comparable quality, location & facilities for the rate of 4500 psft ?
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  • Hi anshus12,
    Which tower is this for? The next tower to be ready is Daffodils (Tower III) and the projected completion time for it is fourth quarter of 2013.

    Thanks,
    Vibes
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  • HI,
    I'm looking to buy flat in APR. Let me know if anyone is selling their flat

    Thanks,
    Madhuri
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  • Has any delivery happened in Q4 2013

    Did Adarsh deliver any of the towers for Phase 3 in Q4 2013? When is the expected completion of Phase 3?

    I understand that they have pre-launched phase 4 (called lakefront or something) too.
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  • They haven't delivered, and if you look at the status presently, it would take another 8-12 months for these towers to be ready completely.
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  • I went to the Ph 3 site yesterday, the work was happening in full swing. Of course i could only see the work on the tower closer to the marketing office. My guess would be that they should be able to deliver these towers before end of the year.

    The Marketing office is now claiming "No availability" for ph 3. They are focused on lake front launch where the apt are much smaller than Ph 3. To me it looks like Phase 3 has the most premium floor plan in the adarsh palm retreat apt options.

    Are there any pending / known legal issues with Ph3?
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  • 2BHK (1320 sqft) for 90 L, don't you think its overpriced, considering that even for completion it will take around an year and its so much inside from ORR with no public transport available?
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  • Yes, it is expensive.

    But then I like the project from a location, layout plan, amenities, specifications etc better than other projects in neighbourhood. The key problem of extensive delay is probably limited now give the project is in advanced stages. The legal problems are still to be explored.

    I do not mind that the project is a few 100 meters inside - infact i like it that way - specially since the approach is through a private road which is well maintained. I saw the road was being cleaned by one of those big trucks with brushes and vacuum.

    Wondering if all this is worth the premium. The other challenge is the limited apt choices available on resale. Might have to give this one a go and continue my search....
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  • Kind of agree with you. But I feel that prices may not go up immediately now, and would rise once possessions start. So may be a window of around 1 year is there to purchase.
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  • I am an owner of one apartment in this project. The builder has started delivering the units for interior work. They call it soft possession and they are hoping to handover all flats in the coming 6 months. Its likely that the facility will be in very good shape by 2015 end. The guidance value of APR (for registration purpose) is already hiked by government to Rs. 5300/sft plus and resale rates are touching 8000/sft + Reg. Likely after completion, the rates might further shoot upto Rs. 10,000/sft. So if you want to buy, buy fast ...
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  • I have heard that there is litigation going on between Adarsh developer and one of the land owner because of which Tower 4,5,6 registration can be delayed beyond 6-12 months. Anyone knows what is the situation?
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  • Anyone bought on resale recently the rate being quoted is around 8000 Sq/Ft - neat doubling for folks who held on through the delays.
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  • As said earlier by ronin80; is the property clear or still have some legal issue?
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  • The construction quality of Adarsh isgood and the project in on the roll. There was some land issues and they have resolved it. The company is also having a large tech park in the land along with car parking amenities. Adarsh palm retreat is over 300 acres and the construction quality is awesome. The construction is on full swing and there are no property left out in phase three.
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