Hi All,

The Village : Sky Villas, is it a good place to invest? Kindly give your opinion on positive and negative points. It will be useful.

Thanks
Kannan
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  • Hi Kannan, Where this project is at..?
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  • Originally Posted by Saravanan79
    Hi Kannan, Where this project is at..?


    It is in kalavakkam after kelambakkam.
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  • Far away!!

    Location is Kalavakkam. It comes after Marg savithanjali on OMR. Project is slightly off the main road.

    I visited the site few months back and found it far away from other developments. It is going to take a few years for the developments to happen.

    Given the green cover and other amenities,I personally would like to have a villa there as a weekend home but not an apartment to move personally.
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  • Originally Posted by chakra_v83
    Location is Kalavakkam. It comes after Marg savithanjali on OMR. Project is slightly off the main road.

    I visited the site few months back and found it far away from other developments. It is going to take a few years for the developments to happen.

    Given the green cover and other amenities,I personally would like to have a villa there as a weekend home but not an apartment to move personally.


    They are saying that the sky villa project may start after 6 month and it will take another 2 1/2 years to complete. I am not confident about their
    delivery commitment. but i heard villa, row house other apartment ( not high raise ) development is going on.
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  • 6 months was the time frame told to me when i visited 10 months back. I dont think it is worth taking the risk.
    yeah, villas were almost ready when I had visited the site.
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  • Originally Posted by chakra_v83
    6 months was the time frame told to me when i visited 10 months back. I dont think it is worth taking the risk.
    yeah, villas were almost ready when I had visited the site.


    Is that place worth or safe? since their villa and apartments ( not the sky rise apartment )ae in progress,can we trust these company for their sky line apartment project? ie waiting for 6 months ( questionable ) to start the construction and waiting for another 2 1/2 years ( high risk ) to finish the construction. I dont know why almost all the builders are going for max
    10 * 11 ( most of them 10*10, which is very small ) for master bedroom on more than 60L budget apartments?
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  • Why not look at Siruseri area instead.

    The price difference is not much, it probably is 5-10L more expensive but is much more livable down the road as the infra improves.

    Devleoper (Village) gives a nice commission to brokers, so many brokers push this project to NRIs. I feel it is bit too far for the money.
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  • Originally Posted by k11
    Why not look at Siruseri area instead.

    The price difference is not much, it probably is 5-10L more expensive but is much more livable down the road as the infra improves.

    Devleoper (Village) gives a nice commission to brokers, so many brokers push this project to NRIs. I feel it is bit too far for the money.


    thanks for the opinion, yes, there are brokers and companies are marketing these projects to NRI. Those companies are pushing / expecting the NRI to book based on their 1 hr seminar on various their projects from south India. one of the slide has this project.

    I am not sure how these companies are expecting the NRI to buy their tie up projects based on the PPT slide show. But there are some % chances are there NRI to fall on their trap based on the following,
    1. Too much money not sure what to do
    2. No relatives in India to go and see the place.
    3. No knowledge about RE market in India.
    4. Slightly Smooth bank loan process coordinated by these kind of
    companies.
    and etc ...
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  • I know people selling questionable piece of property, lands in farway places with dubious docs getting sold to NRI's at premium rates.

    I do not see why NRI's would not buy such clean properties. People see different VFM perspectives and take varying levels of risk.

    For investment, as long you believe you can sell it for significantly more money down the road there is no reason why not to get it.

    End use is where we need to look into lot of factors.
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  • Originally Posted by k11
    I know people selling questionable piece of property, lands in farway places with dubious docs getting sold to NRI's at premium rates.

    I do not see why NRI's would not buy such clean properties. People see different VFM perspectives and take varying levels of risk.

    For investment, as long you believe you can sell it for significantly more money down the road there is no reason why not to get it.

    End use is where we need to look into lot of factors.


    True, when i am buying plot for my end use, i will look for budget, location, facing , width * length, near by area & facilities.

    When i am buying a plot for investment also i will look for the above same points, because buyers also will expect the same from my plot.

    But NRI's ..., there are many scenarios they have to depend upon the following
    1. Relatives
    2. Brokers
    3. Banks
    4. Online Forums
    5. Friends in India to get advice.

    But the companies focusing on NRI saying that " we can replace all the above and we are having best projects in the world and we will coordinate with bank for the loan process. just send required documents to us, we will take care of the rest ".

    Many NRI's they are attracted to these services and easily got into their hands. Many NRI never saw their investment ( except from google map ) in india. These companies are utilsing the scenario and making money.

    One of the companies says that " Do not trust your Father, Brother, In laws, relatives. Because they may not know the real value of the plot or place, they may be biased also. Trust experts like us, we will guide you to get a proper place for investment."

    For some people it turns out good but most of them it turns out bad.
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  • Brokers are needed for secondary sales. For most primary sales, NRI's can directly buy from builder. Just need to go for registration for a week. Everything can be done from here.

    There is no need to depend on anyone when you are getting into a new launch or under-construction property.
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  • Originally Posted by k11
    Brokers are needed for secondary sales. For most primary sales, NRI's can directly buy from builder. Just need to go for registration for a week. Everything can be done from here.

    There is no need to depend on anyone when you are getting into a new launch or under-construction property.


    what about loan part? can we get loan from here or power of attorney is needed to sign the loan in india?

    I am not comfortable to trust these kind of companies, because most of the time they will suggest the points which will be good for them. I personally beleive in getting opinion from my brother and close relative. Even though they are not experts but they will give me real facts about the property. They can directly visit the property directly and they can chat with people near by to get more information about the place and property.

    For that past 4 years i have considered many properties based on google map, but most of them got rejected by my brother and my relatives because of burial ground near by or some issue withe locality. So for me i am more comfortable with my relations than going thro these kind of companies.
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  • Originally Posted by kannan1
    what about loan part? can we get loan from here or power of attorney is needed to sign the loan in india?


    Private sector banks are easy to get loans with. PoA is prob more useful, but it will have to be in bank's specific format, each bank has one.
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  • Originally Posted by k11
    Private sector banks are easy to get loans with. PoA is prob more useful, but it will have to be in bank's specific format, each bank has one.


    Yes, when you have POA then each bank will have their own format. This bank POA is different from the POA for registration.

    It is true that getting the private sector banks is easy. But it is better or safe to get loan from public sector ( like SBI ), they will take your life when you are getting loan from SBI, but it is safe compared to private sector. i have experienced with both sbi and axis. But i prefer sbi than axis. but many of the builders / land promoters not prefer SBI because of the process time.
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