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- Thanks for replying.I believe the current price is 4295 per sq ft + Other charges 25% i guess.
There was a online campaign happened last week where the offer price was 3725 per sq ft + other charges 26 %.
The actual cost for a 2 BHK 1152 sq ft apt is priced for around 65 Lakhs (including all charges) where as the campaign price was around 58 Lakhs (including all charges).
is this offer a good option to consider or still the rates are high ?CommentQuote0Flag
- I feel anything less than 3000 base price and other costs less than 10 lac is goodCommentQuote0Flag
- That far out mate, I wouldn't spend anything over 40L to 45L at the maximum + registration.
If one has close to 60L + registration to spend, then I would like to cut the distance to the city by at least another 10 to 50 kms.
Try Medavakkam, at least it is closer to the city than this.CommentQuote0Flag
- Highly overpriced. Considering the location, anything beyond INR 2800 per sq feet is very high pricing for Ribbon Walk. I am very confident that TATA folks wouldn't have sold much!!
Are they on track to complete the project?CommentQuote0Flag
- Thanks for the Information guys.I'm not sure about the construction status.They said the possession is some where in Dec 2017.I thought its worth to try considering the bus terminus that is been proposed in Vandalur which is a 10 minutes drive from this Tata site.
I checked the near by projects in Vandalur Kelambakkam road (Shobha Merrita and Vijay Shanthi Love projects) which has quoted above 4000 rs psqft and thought its the better offer :).
Not sure why the builders are quoting too high for the projects in Vandalur Kelambakkam road.CommentQuote0Flag
- SBIOA school nearby?
I heared SBI is coming up with a apartment complex with SBIOA school?.How true is it?CommentQuote0Flag
- Sbi project
It is true SBI has a mammoth project in Mambakkam. The land was acquired three years ago and the project has kick started one year ago. The total units are rought around 2000 plus comprising double and triple bed rooms and SBI Educational trust has also acquired land adjacent to this for the proposed SBIOA College. I think by the time the project is completed, the place will witness good activity and growth. The allotments are made only for SBI working/retired employees.CommentQuote0Flag
- I guess this area would be good bet considering the fact that there are many reputed schools around like maharishi vidyamandir,SBIOA ,velammal.....all within a km or 2.What is the Ribbonwalk current ask price.CommentQuote0Flag
- Schools alone cannot uplift the area and price. As more pojects come up, more supply, it would only affect the price/stagnant.
The current price is too high for the mushrooming projects- slow sale, will drag the completion- price pressure......cycle.CommentQuote0Flag
- As the schools are closeby and the offices are not very far away for most of the IT crowd considering navalur,siruseri and shollinganallur.I see this area a good bet considering for people to settle with nice schools around.More project comes up considering all these.I agree the price is high compared to the more established areas with much less kms compared to this area.My point is investing in this area will not be a negative one.CommentQuote0Flag
- If the forward pricing is 10% or so, what you say could be fine. Here we are talking of price difference between 3200 to 4500 per sqft.....40% plusCommentQuote0Flag
- I agree to your point but if you see the fwd price of 10% I see in areas where is no growth trajectory.Something around 20% is nominal.CommentQuote0Flag
- Hello All,
I need your advise on this property since now they have reduced the price per sqft 3990 from 4295, is it worth buying,
- Tata Value Homes, Mambakkam, New Heaven Ribbon Walk, Update on 2BHK Smart/1.5 BHK.
No DTCP plan approval for smart 2BHK category. Approved plan obtained for 1BHK from DTCP which they converted on their convenience and to meet market demand to Smart 2 BHK which they failed to get revised DTCP approval. Obtained NOC for building which states building is complete, and fire certificate (ONLY for 1 year) where these both certificates does not talk about the approved conversion. Received above all confirmations in Joint Meeting/Conference Calls from Mr.Natraj DGM, Mr.Tamil Chief Architect, Mr.Thirumurugan Marketing Head and CRM Head.
All who bought smart 2BHK will be in trouble. Next year renewal with Fire safety post hand over to apartment association will be a bigger future problem.
Project funded by SBI also has not verified the site post completion and not aware of this conversion.
Since no approval plan, forced to stick only with SBI bearing all problems.CommentQuote0Flag