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Did you do any further research into Andra Valley? What is the current price?
- This project is from Sanjiv Jaiswal, owner of Scorpio Club and producer of few movies, like Fareb (2005). Price was 181/- until 2 days back, but apparently increased now to Rs 221/-. This project is on Kursi-Dewa road, next to Indira canal.CommentQuote0Flag
- Thanks. How is this project from investment point?
How is the reputation of the developer?
Thanks in advance.CommentQuote0Flag
- Are these plots ready for registration or they also in acre scheme ?CommentQuote0Flag
- I think it is not an acre scheme.
The broker I talked to, sent me the layout map, with numbered plots, and said that a specific number will be assigned to us, once a payment of 21K (token) + 51K (booking confirmation) is made.
Don't think that would have been possible if it was an acre scheme (and it does not have a specific buy-back time/price either, like the acre schemes normally have).
Do you know that area/developer well? How does the price of around 200 look for this development?
- Their Scorpio club, it seems, is a reputed one. As per the information I got, they had lot of rush in their office 3-4 days back to book plots. The developer intends to make a film city in the centre of layout. Plots are sized 1000 sft, so affordable for people. The rates are relatively cheaper when compared with rates of 250/- to 300/- in that area. They intend to start bhoomipoojan in Apr this year and layout will take 2.5 years for development.
Rest, you should do your due diligence.CommentQuote0Flag
- Thanks. Yes, that is in-line with what the real estate agent in Lucknow told me 2-3 days ago.
Have you invested in this development?
- Yes, I have booked a few. Having said that, do not base your decision based on this or discussions in a forum. Always do your due diligence.CommentQuote0Flag
- Originally Posted by manikabYes, I have booked a few. Having said that, do not base your decision based on this or discussions in a forum. Always do your due diligence.
So now 2-3 brokers are busy pushing this project ....haha ;)CommentQuote0Flag
- Hi Amit,
Do you know about this area/development? If yes, what are your views about the same?
- amitgupta00 -> what makes me broker here - buying few sites or providing info which someone is asking for?CommentQuote0Flag
- I guess before putting you money just enquirer about what happen to MTech City project and other such smaller developer. Some time back there was a hype about R K City what happened to that ?
I guess in Lucknow only Eldeco, Ansal, DLF and OMAXE and off course LDA & Awas Vikas are the credible developers. Where in general there may be delay but most probably you will not loose the money.
I guess credibility was the main reason why DLF is able to sell all most all the plots at such a higher rate (approx double the market rate) which are located approx 5 - 6 KM from the city limit. Most of these plots are bought by the end user.
If it's 1000 sft and rate is 181 psft, then it's not a big amount and one can take a risk. What is the payment schedule and when are they promising to give the possession & registration ?
I guess these plots are also not with in the Nagar Nigam limit.
- Thanks Jitendra.
Not sure about the Nagar Nigam limit (not well aware of Lucknow - it was close to my hometown several years back, but am abroad now).
But yes, I heard that it is pretty far from city, around 16 kms from Chinhat (if I remember correctly), near some Indira Canal.
Investment amount is pretty less, so was getting tempted. Payment plan is 21000 upfront + 51000 in a month + rest in a month.
Are you aware of any other good investment options in Lucknow currently? (Keener towards Lucknow, as few of my relatives live there, so will be easier from property management viewpoint later)
- Hi Guys,
Did anyone buy here?
They are increasing the rate every month? Now it's 251 rs/ft
can some please share the experiece?
- Is there any similar project available for investment in Lucknow in range of less than Rs 200 sqft. All I need is a reasonably safe builder with long term appreciation chances.CommentQuote0Flag