I need some guidance from the experts on this project as i am looking to book a 3 BHK apartment. I feel location and cost wise, it is a good option. once the Pallikaranai road is made 6 lane, cost in this area should go up even more like Velachery. they have linked the payment schedule to the overall progress of the project. the phase 1 is supposed to be completed by March 2014. It is now CMDA approved project and they provide a DVD with all approval docs once you booked the flat. they are planning to start construnction next week. Could you highlight the issues i should be aware of before booking. if any one has already booked, could you let me know the issues.
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  • I am not trying to show Your post in bad light, I appologize if it seemed so, that was never my intention. I was only trying to tell the facts. cheers !!!

    Originally Posted by sundarjp
    I do counter everytime when someone like you try to say ‘I am biased and I am trying to protect any particular builder or project’ or when someone write something without knowing the actual facts . If I am trying to protect the builder or project, I will be writing stories trying to justify everything and will glorfy purva which I have never done.
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  • Spot on Arian. I have never said ‘this is the best project in Chennai’ or ‘Purva is the most reliable builder’ rather I believe these builders are here to do business and look at ways to take buyers for ransom. I have invested on this project for the reasons best known to me. I never bothered to even state the reasons why I have invested on this project because I know for sure ppl would again state ‘I am biased’.
    No issues Cruise, thanks.
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  • I would also like to add that the Windermere project had some of the spacious floor plans for 3BHK and my better half was impressed, but I opted out due to various other reasons.
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  • Originally Posted by sundarjp
    I do counter everytime when someone like you try to say ‘I am biased and I am trying to protect any particular builder or project’ or when someone write something without knowing the actual facts . If I am trying to protect the builder or project, I will be writing stories trying to justify everything and will glorfy purva which I have never done.



    @arianashok, @sundarjp : first try to see posts of a certain user and not try to connect posts of 2 differetn users to the same meaning. AA, u have tried to see it separately which is good.

    @sundarjp, ur problem is u suddenly jump to reply to a post without understanding what it meant. I was trying to show u that ur post, tho well intentioned, might give a diff opinion to others, since u keep barging into other's opinions unnecessarily and try to counter them. I never said u are biased, I was saying why other might feel u were biased. Try to understand.

    After my long exp (no of posts) in this forum, i try to see if there is some miscommunication due to which some well intentioned post is getting misunderstood, if so i try to release the knot.

    But if u want to continue to take it as if the world is against u, then its upto u :) I am not a part of that !
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  • Original Article : Puravankara set to offload Rs 400-crore stake to institutions - The Economic Times

    BANGALORE: Bangalore-based builder Puravankara ProjectsBSE 1.11 % is planning to raise about Rs 400 crore through institutional placement programme, in the third such investment in the country's real estate sector, and increase its public shareholding to 25%.

    The company is expected to offload 15% holding of its promoters to meet stock market regulator Sebi's deadline of June 2013 to bring down promoters' shareholding to 75%.

    "The realty firm has approached Sebi to allow them to dilute the stake and is waiting to hear from the regulator ," a person familiar with the development told ET.

    The promoters currently hold 89.96% stake in the company . It is yet unclear how many shares the company will offload and what price, said the person, who did not wish to be named. Jackbastian Nazareth, the group chief executive, refused to comment on the matter, saying the company will make a statement at an appropriate time.

    Recently, another Bangalore-based real estate firm, Prestige Estates ProjectsBSE -2.09 % successfully completed an over Rs 350 crore institutional placement programme or IPP, which was subscribed 2.75 times.

    Last year, Godrej PropertiesBSE -1.06 % had also hit the capital market to bring down the promoters' holding to comply with Sebi's norm. Puravankara Projects has reported 101% increase in profit for the quarter ended December 2012 at Rs 64 crore. Net sales rose 60% over the year-ago period to Rs 311 crore.

    The builder, which sold 0.91 million sq ft of new space in the quarter valued at Rs 355 crore, is targeting sales volume of 3 million sq ft for the full year.

    Puravankara has 25.92 million sq ft of projects at various stages of development under Provident and Puravankara brands. It will launch an additional 3.5 million sq ft by the end of the fiscal .

    The developer has a land bank of 84 million sq ft across the country. The company's debt equity ratio is 0.82, with a net debt of Rs 1,515 crore. It plans to bring down its debt equity ratio 0.65 over the next two quarters.
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  • What do you guys think of Swanlake? Has anyone checked lately.

    Becasue of this Windmere project delay, there could be some hit to Swanlake. Would there be a good chance to get good deal from them.
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  • Good lead advice. I am asking them to agree for 2008 rate for 2 flats but they are still reluctant since many amenities are hanging in the sky and nobody is there to lead and risk

    Originally Posted by k11
    What do you guys think of Swanlake? Has anyone checked lately.

    Becasue of this Windmere project delay, there could be some hit to Swanlake. Would there be a good chance to get good deal from them.
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  • Just curious.....Current rate seems to be from 4000 to 4250. Why are the rates not matched up to ss sarvam or mapleton or sigiriya ?
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  • Ignore my previous post...checked out this place today......seems to be the rate around Medavakkam.
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  • Guys,

    I am new to this forum. I am planning to book a 3 BHK flat in windermere Phase2.
    They said phase2 rate per sq.ft would be 4400 and completed in Apr 2016.
    I am also OK with this time. Did somebody booked in phase2? Could you please share ur
    views in this project?

    How about rainy season? Does water/ nearby lake create any problems?
    Actually i am looking for > 1700 sq.ft flat. Thats why i want to book here.
    Any positive/ negative views would be helpful for me before booking.
    Thanks.
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  • Be cautious. Purva has delayed all projects sofar in Chennai
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  • Originally Posted by 83madhu
    Guys,

    I am new to this forum. I am planning to book a 3 BHK flat in windermere Phase2.
    They said phase2 rate per sq.ft would be 4400 and completed in Apr 2016.
    I am also OK with this time. Did somebody booked in phase2? Could you please share ur
    views in this project?

    How about rainy season? Does water/ nearby lake create any problems?
    Actually i am looking for > 1700 sq.ft flat. Thats why i want to book here.
    Any positive/ negative views would be helpful for me before booking.
    Thanks.


    If u r interested, you can check the posts in the previous pages, I guess there are enough positives and negatives discussed. Then you can form an idea and then visit the place your self to check how the opinions here match the reality.

    I have visited the area and dropped out due to some reasons mentioned in my posts.
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  • Purva Windermere had initially (when the project was launched with approvals in Jun 2011) targeted Mar 2014 as the completion date for Phase-I. You can look at the current state of construction to get an idea of the construction progress. Not all blocks are proceeding uniformly.

    Negatives with the project are the narrow approach road and possible issues with being close to the lake (water logging, mosquito problem, etc). In case you are worried about the delivery schedule, you can consider apartments in Phase-I as well.

    The positives for the project are the attractive price point and large area of the apartments.
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  • Random,
    There are 21 blocks as part of Phase 1. Phase 1 has a total of 750 apartments (S+7 floors) in plot area of 18 acres. I don’t think you can expect all 21 blocks to proceed uniformly. As a buyer, I would be happy if the builder complete all blocks with in the committed date. How they achieve it is up to the builder/sub-contractor. As you have stated, committed end date is March 2014 with 6 months cooling off period. With the current progress, I HOPE they should be able to complete it with in this time frame. I have posted some latest construction progress pics.
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  • Please don't get carried away with construction progress with roofs are getting constructed one after the other....without everything happening in parallel.

    Builders normally to have payment schedule where they can collect % of money based on the completion of "ROOFING". For example :- first 10% will be collected after completion of 2nd floor roofing, 20% after 5th floor roofing and 50% at 10th floor roofing....

    So these guys will create an impression by focusing one one or two blocks alone (by hiring a sub-contractor and ask them to deploy full force) and in other blocks they will only show pillars and shell structure alone be created one after the other without completing walls and other inner portions.

    After collecting 70%-80% payment (in many cases, 90%), these guys will keep the development on hold and will blame it on labor, material shortage and some santa clause not appearing etc....

    By looking at the picture for me it can easily take 3-4 years of completion frm now. Not that they cannot complete in one year (in India we do not have such residential projects that cannot be constructed in regular time frame that has so many complications) but their intentions may be different after receiving 80% - 90% of the money.
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