Hello everyone,
I am planning to invest in a 2bhk purely from rental revenue and longterm appreciation perspective.
Shortlisted Indiabulls Green Phase 2 and Doshi Risington.

While Doshi Risington is bang on the main road and getting tenants would be easier and they are close to the completion, I am apprehensive due to 3 reasons:
1. low lying area. Even after project elevation at entrance, car parking space at Basement levels (at least first 2 levels) are still too low. During rainy season, there might be a possibility of serious water seepage.
2. lack of borewell water due to salinity. The project, I believe is not having a WTP due to the same reason. Till the time Chennai corporation brings pipeline here, everyone has to depend on tanker water, which on a longer term, could increase water charges.
3. the price differentials with Ozone Greens is substantial.

Regarding Ozone Greens Phase 2, the project was hugely delayed. But, is informed recently that we could expect hand over by Dec18 and with Ozone being in charge of the project, one can possibly expect better execution compared to what Indiabulls had done previously..
The approach road through Elcot will surely take time.
Some serious work needs to be done on gardening, dedicated play areas etc as well, which they are claiming that would be over within a year.
But price difference is with Doshi Risington is big.

Any suggestions and information would be welcome.

As, I am looking for high rise buildings (15+ floors) in and around Shollinganallur, guess choices are limited.
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  • Eventhough some cons like water, low level car park., etc... They ase saying Rs. 5200 Sq ft. Is it worth buying at this rate and how about rental options in two BHK in karapakkam?
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    • 2005.h1 years ago
      Doshi is very good. I can agree the basement is low lying but stilt is 4 5 feet higher than one. So not sure how it can be low lying. But if you are looking invrstmest wise doshi is bit costlier so you need to decide
  • As a buyer, with an intention to close the deal within 6 weeks : I had been to Bhaggyam Pragathi & Doshi Risington, a couple of weeks ago.

    Doshi Risington : Yes, they have a nice mini theatre and a nice sales pitch video. But apart from that, my first impression or my intuition says it is not a great investment idea for following reasons

    A. They are building only 3 blocks now, all a bit away from OMR - facing the marsh land.

    B. The Sq feet rates are misleading. (They have additional 140 rs/sq feet as floor rise charges, or as "lawn frontage" charges). Given the market rates it does not sound sensible enough to go for this property.

    C. They are also planning a commercial space in teh same complex, which would be open to public. (whenever they builld it and whenever they complete it).

    D. At current stage, i do not see them handing over (in half baked state) atleast a year from now.



    On the other hand, Bhaggyam Pragathi - was spacious room design, and was in a better stage of completion. @5000/Sq.ft (after negotiations), you could complete the entire investment (Including registration) at 73-75 lakhs - as against 89-110lakhs in Doshi Risington. Pragathi (Next to Saravana stores) is a bit inside (some 600 metres away from OMR) - but given the IT population, i am 110% sure it will yield the same rental income.



    My humble opinion : Doshi Risington is not worth it. Atleast from my perspective.



    Disclaimer : I am neither related to Bhaggyam Pragathi, nor to Doshi Risington. Just my opinion, as a buyer.
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    • dolphindivin1 years ago
      Oops sorry - I didnt realize that you were looking for high rises.
      Anyways, the comparison with Bhaggyam Pragathi can be ignored. But my view on Doshi Risington still stands the same.