Iam posting a message for the first time.Recently Alliance Group has launched Orchid springs-apartments at chennai. The location is Between Retteri Junction and Wheels India in North chennai.I would like to have the views on the same. The Advance amount seems to be hefty and that too before approvals.What are the clauses important to be discussed with the builder before signing the agreement?

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  • Never buy flats without approvals.

    Now the market is down. Wait & watch
  • Anybody can quote any price. But where is the buyer. IT companies are falling one by one. No takers for plots or flats

    2009 will see further correction and 2010 will take the prices to 2004 level
  • Latest update -

    I spoke to one Mr. Sisupathy ( he is mostly at de site) cell fone no : 9500126229 and he said that alliance have got de approvals now for all floors and will have necessary docs by april 17 2012...

    He said tat registration of U.D.S. will take place only at de time of possession which obviously I am not satisfied with and also said tat more bookings and enquiries are coming from people residing in Anna nagar area like around 30%, from NRI'S 40%, andhra and keralites around 10-15%.,
    north indians 20%...

    On research I found tat, Alliance is also one of de members of CREDAI. - The Confederation of Real Estate Developers’ Associations of India (CREDAI) is the apex body for private Real Estate developers in India & recently they had a fair in Chennai Trade center promoting all flat projects in chennai

    I still feel tat dis project is good (if) they could complete it and hand over atleast by end of 2013 or middle of 2014..though they keep telling that they would finish by June 2013...

    anyways..I had booked a flat in Pine block at Rs 3000 per sqft in 2008...and now marketing sales personnel is quoting a price of Rs 4900 per sq ft which is inclusive of modular kitchen and a/c and on completion of project it is expected to go atleast in de range of Rs 6500 - 8000 per sq ft.

    O.S. project location is very good as its very near to padi fly over, anna nagar, schools, hosp., well connectivity of roads on one side to J.N.100 ft road and on othr side chennai bypass rd....

    Recently (1.4.2012 onwards ) guideline values of land has undergone a major revision in rates by TN govt. Alliance O.S. is located on Water canal road or canal bank road ( 60ft rd ) and G.L.value of land rate for dis road is quoted at Rs 2700 sqft and I am sure there is more scope of appreciation around this area

    In 2010, there was a major issue as they had arranged for a meeting for all those who had booked a flat in O.S. (my in-laws attended dis meetng on our behalf ), but everybody present there had filed a police case against them as they had no proper answers for project approval/ delay n commencement ...but later on i guess dis issue was sorted out...and now all approvals are in place and construction work is going on...touchwood