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Purva SwanLake, Puravankara Projects, OMR Road, Chennai

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Purva SwanLake, Puravankara Projects, OMR Road, Chennai

Last updated: December 16 2018
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  • Purva SwanLake, Puravankara Projects, OMR Road, Chennai

    I came across an offer for Purva SwanLake OMR whereby we pay 20% now and remaining payment on posession which is estimated to be in DEC 2012.

    1. Rate quoted is Rs. 3700/= per sqft. Is it worth ?
    2. What is the scope of appreciation and the kind of community this project will have ?

    Please share your views ...
  • #2

    #2

    Re : Purva SwanLake, Puravankara Projects, OMR Road, Chennai

    Any update please ...

    Comment

    • #3

      #3

      Re : Purva SwanLake, Puravankara Projects, OMR Road, Chennai

      Purva

      Project is deep inside OMR. It has undergone lots of issues / problems though its building phase. It is almost nearing completion.
      It would have been a sweet offer for a project which is getting launched, not for a project which has been under construction for 5+ years. (Launched 2007). Kindly understand what is the %age of completion they have achieved.

      So the concept of 20% on booking & 80% posession is a marketing gimmick. 2012 December is hardly any time buffer. Processing a loan document itself takes about 3 months, and there is no benefit to you.
      But the offer accordingly to me, is a stupid idea to fool people. I suggest not to trust people, who fool around with customers.


      If you still like the place, building & price, you can go ahead.

      Cheers

      Comment

      • #4

        #4

        Re : Purva SwanLake, Puravankara Projects, OMR Road, Chennai

        Somebody tell me if this the same project that was advertised some 6 years back with a "Maami" doing exercise.

        If so tell me why it is taking such a long time to complete it and what happened to the Poor Fellas who booked 6 years back. Have they got their apartments ? or they still roaming around the apartments with the hope of being handed over

        Why is this advertised as if it is a new launch ?

        Comment

        • #5

          #5

          Re : Purva SwanLake, Puravankara Projects, OMR Road, Chennai

          Customer is king, till the time he signs the agreement with builder and bank.
          Once that is done, he has to hope, pray and still play soft with the builder because, he is neck deep into project.

          But in todays RE, you cannot cover every parameter. You trust big builders, do credential check etc. etc.. But if something has to go wrong, it will.

          Lack of rules, lack of guidance to help people recover from wrong decisions (or) wronged decisions. Private players are answerable to none. Legal recourse will only help you age faster. All sale agreements are designed to suit the builder.

          There is no standard format (or) guidelines defined by government / industry body, which takes initiative to make real-estate(particularly apartments) transactions fair for both parties. It is always biased.

          What can one do???
          -----------------------
          Get emotional and shout at builder. Threaten dharna in front of office.
          Write complaints about them in internet
          Threaten to go legal
          Go Legal
          Beg with them to complete the project on time
          Wait, wait, wait

          Look at big projects like Hirco, Purva, Jains (some projects).
          --------------------------------------------------
          No delivery
          No / Negligible appreciation
          promises un-fulfilled
          Mental agony for the buyer

          Does anyone have solutions. ??

          Comment

          • #6

            #6

            Re : Purva SwanLake, Puravankara Projects, OMR Road, Chennai

            This is the failure project. People who booked some 6 years ago suffered a lot. But the builder simply launched several other projects with their money

            Purva Windmere, Cosmo etc

            Comment

            • #7

              #7

              Re : Purva SwanLake, Puravankara Projects, OMR Road, Chennai

              Thank you all for your valuable inputs. I think it is much better to buy apartments that are nearing completion rather than book and wait endlessly ...

              Comment

              • #8

                #8

                Re : Purva SwanLake, Puravankara Projects, OMR Road, Chennai

                I got a call today from Puravankara Swanlake saying that an investor is selling his units at Rs. 3350 per sq.ft. The current rate at Puravankara is Rs. 4200. He said that Purva is arranging this transaction and the flat will be a first hand possession. He also mentioned that 40% of the price is to be paid now and remaining 60% after possession which is after 4-5 months.

                How good is this offer? Do such transactions happen? Will there be any legal problems? Or is it just a way to bring down the price via a so called investor? He didnt reveal the name of the investor though.

                Thanks for your time.

                Comment

                • #9

                  #9

                  Re : Purva SwanLake, Puravankara Projects, OMR Road, Chennai

                  Stay away from this guys.... my manager booked one in this project by 2009. He is yet to get his apartment. think about it and step in. Dont loose ur hard earned money to these type of builders. You will find better builders for your money..but definitely I wont support Purva.

                  Comment

                  • #10

                    #10

                    Re : Purva SwanLake, Puravankara Projects, OMR Road, Chennai

                    Project is Ready to move now. Is it advisable to buy for enduse?

                    Comment

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