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Peace and Prosperity by Real Value in Tharamani, Chennai

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Peace and Prosperity by Real Value in Tharamani, Chennai

Last updated: December 26 2018
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  • Re : Peace and Prosperity by Real Value in Tharamani, Chennai

    Excellent discussion with four of us. My self / SK padman / Naveen and Rajan.

    I fully agree with SK Padman point who has maturity to bring out such as a valid point.

    Naveen and Rajan. I am sorry. If I am not misunderstood. As a friend I would like to suggest the following:

    Looks both of you are young and energetic. Hope this is your first investment and please consider pro and cons accordingly. As per Naveen statement, I am very sure, around 5 kilo meters of Madhya kailash is not possible to have this rate or at least 80% = to P&P. So you may consider to be Group B

    Rajan, Please do not hurry.In 1 month nothing will happened. If yes, I am the happiest person. If you can wait, then you can be patient to get the fruit ripe.

    Please do not think that, I am supporting RV. They do not know who I am and they do not need any support from me beside a customer. They are big flies. Small fly like us, must take good decision in order to survive in today's world.

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    • Re : Peace and Prosperity by Real Value in Tharamani, Chennai

      Originally posted by Naveenojha1 View Post
      Dear friends,
      Definitely P&P is a good deal!but we need to have little patience for the fruit to ripen!Due to my personel urgency i am planning for the cancellation. I have booked P&P for 6000 rs/sq.ft i.e., 5,00,000 i have paid advance at 2012.I am/real value is ready for the name transfer for my booking .
      Please let me know if any one is intrested to pay me back the booking amount( (5,00,000) + 1yr normal bank interest ).Now prices are 6650/sqft(after negotiations).
      Location is Block 2 ,2nd flr,2.5 BHK 1102 sq.ft ;East facing door entrance /facing the garden/club house.
      Thanks in advance( :99624-91166)!
      When i posted a similar offer in another thread the mods sent me a warning saying selling not allowed

      Is it that apts allowed but not land?

      Comment


      • Re : Peace and Prosperity by Real Value in Tharamani, Chennai

        Originally posted by Naveenojha1 View Post
        Friends you make me to think!Since you all are positive,So i have planned to wait maximum 1 more month for any progress!!
        Is there a possibility of filing RTI and learning from CMDA what stage the approval is in?

        We had booked a project called Shriram Santolina in pallikaranai in 2005 i think....before approvals. We were so thrilled and showed the place to parents and all ppl. 15 months later they returned the deposit amt with 6% interest. Casa Grande later built in the same place. Can you imagine we had booked at 1375 per sq.ft? and shriram did not even transfer booking to casa grande.

        My take is give it a cut off time and move on to other projects if you cant find out at CMDA

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        • Re : Peace and Prosperity by Real Value in Tharamani, Chennai

          We need to wait and see how long this may take. My only understanding is that RV being a member of CREDAI can't just wash off the project or wind it 1 fine day..

          It is more a question of multiple ventures (in the same locality) from a Builder being opened to public at the same time.. My perception based on their ads is that their priority on OMR now is more on Padmalaya and Neel kamal Annexe though the target audience could be diff...

          Today, Akshaya launched Republic Kovur (near Kundrathur Rs 4250 / sft) with 4 day bookings Adyar in advance .. Samewas the case when they launched Today.. but remember this is atleast 15-17 kms away from Adyar..; (for me..)

          Do remember, Akshaya, KGS, Appaswamy, Jains all are members of CREDAI... so wherever one goes, the delay s bound to happen.. I heard that Jains launched the Thoraipakkam Venture in 2007 and still now, even after 6 years, have not given Possession.. block 2 bookings in progress...All these big ventures do take time..

          The only thing to understand is the status of CMDA approval and how long it may take.. And once work starts, then how long.. I understand that the Ministry Approval has been obtained as per their letter 2 months back.. then why again the Procedural delay :-(
          Last edited August 15 2013, 11:01 PM.

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          • Re : Peace and Prosperity by Real Value in Tharamani, Chennai

            Originally posted by nrajan1981 View Post
            We need to wait and see how long this may take. My only understanding is that RV being a member of CREDAI can't just wash off the project or wind it 1 fine day..
            CREDAI is a spineless organization. Jain housing chairman is the president of CREDAI chennai. Not only 6 years of delay by Jain but also pathetic customer service and unethical agreement clause. If a personal who is president has such an service then think about the state of CREDAI as a whole.

            Have faith in the project but not on this namesake CREDAI which is a union for builders and acts against end buyers like us.

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            • Re : Peace and Prosperity by Real Value in Tharamani, Chennai

              Nature lover & Others, While you had lised the pros and cons, please also take into account the interest you would be paying if you are going for loan. In case you are self financing, even then there is a opportunity loss (in case you park this in FD). If going for a loan, check the interest you would be paying viz the appreciation you would have in 3 years when the project is complete. The payment schedule would play a crucial part in this. Lesser payment upfront, the better.

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              • Re : Peace and Prosperity by Real Value in Tharamani, Chennai

                srivat, Yes, I agree.. Credai is just an Accreditation.. but you do have some good builders like Appaswamy as well.. Just like any field, the Nasscom, Assocham, Siam are all namesake.. At the end of the day, most of these real estate folks loot the salaried class and lobby with the political class...

                In addition, Jains goes for a silly pricing sometimes in almost all their ventures.. While floor rise of Rs 50 /sft is fine (like other builders), they will charge you extra Rs 200 / sft (for amenities facing flats.. wonder why they do this.. just because your flat gets more ventilation, air breeze or get to look at park / swimming pool :-)

                Infoseek, as this project is staggered over 3 years, I just hope that in all cases, the bookings would have been done without any Home loan (no approval).. But against this opportunity cost (putting the same amount in FD), the rise in sft rate is also a matter..
                Most of us who booked at 6000/- earlier assuming 8-8.5% interest for 1 year, the interest would be Rs 500; as against the current booking rate of Rs 6593/- sft and the neighboring venture Rs 7000 per sft (KGS rate from beginning is Rs 7000 per sft).. so for now, it is approx a breakeven for our investment...

                Meanwhile, on a call to RVP Office, heard the next deadline of Sep 2013 for launch!!! Seems 140 booking done so far!
                Last edited August 16 2013, 08:04 PM.

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                • Re : Peace and Prosperity by Real Value in Tharamani, Chennai

                  Originally posted by nrajan1981 View Post
                  Infoseek, as this project is staggered over 3 years, I just hope that in all cases, the bookings would have been done without any Home loan (no approval).. But against this opportunity cost (putting the same amount in FD), the rise in sft rate is also a matter..
                  Most of us who booked at 6000/- earlier assuming 8-8.5% interest for 1 year, the interest would be Rs 500; as against the current booking rate of Rs 6593/- sft and the neighboring venture Rs 7000 per sft (KGS rate from beginning is Rs 7000 per sft).. so for now, it is approx a breakeven for our investment...
                  If you paid the full amount, then yes the interest cost (holding cost) is 500rs.
                  If you paid only 20% (1200rs), then it is 8-8.5% of 20% which should be 100rs at the max.

                  Generally people do not pay full amount. They find creative ways of delayaing the payment as much as possible, that is where the negotiation skills come into play. For this type of projects, most people might not have paid more than the booking amount which could be 5L or so.

                  A small percentage of buyers and NRIs might pay more % than what is normal.
                  We cannot assume that everyone would have payed full for such project which has not yet started.

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                  • Re : Peace and Prosperity by Real Value in Tharamani, Chennai

                    Very good point. I paid 15% of the cost at time of booking. Should have stuck to 5 L advance only, in hindsight.

                    Sent from my GT-N7000 using Tapatalk 2

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                    • Re : Peace and Prosperity by Real Value in Tharamani, Chennai

                      Originally posted by nrajan1981 View Post
                      srivat, Yes, I agree.. Credai is just an Accreditation.. but you do have some good builders like Appaswamy as well.. Just like any field, the Nasscom, Assocham, Siam are all namesake.. At the end of the day, most of these real estate folks loot the salaried class and lobby with the political class...

                      In addition, Jains goes for a silly pricing sometimes in almost all their ventures.. While floor rise of Rs 50 /sft is fine (like other builders), they will charge you extra Rs 200 / sft (for amenities facing flats.. wonder why they do this.. just because your flat gets more ventilation, air breeze or get to look at park / swimming pool :-)

                      Infoseek, as this project is staggered over 3 years, I just hope that in all cases, the bookings would have been done without any Home loan (no approval).. But against this opportunity cost (putting the same amount in FD), the rise in sft rate is also a matter..
                      Most of us who booked at 6000/- earlier assuming 8-8.5% interest for 1 year, the interest would be Rs 500; as against the current booking rate of Rs 6593/- sft and the neighboring venture Rs 7000 per sft (KGS rate from beginning is Rs 7000 per sft).. so for now, it is approx a breakeven for our investment...

                      Meanwhile, on a call to RVP Office, heard the next deadline of Sep 2013 for launch!!! Seems 140 booking done so far!
                      Thats the reason I said concentrate on builders reputation alone and not in CREDAI membership.

                      6000 is the base price but what is the price with all cost included matters. On top of it add the opportunity lost. In order for you to breakeven you need to sell above Base Price + Other charges + inflation consideration. Until builder inventory is complete you will be able to sell mostly at an discount to builder price.

                      Delay plays an important factor in final profits rental income lost, opportunity lost etc.

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