This is my first time on this site, very helpful and the discussions are very informative.

I need help from experts on Unitech Mohali plots in sec 106. I had invested in these long time back at 12,500, almost all the money has been paid but have no clue if work is on or when they will give possession.

Can the experts of the area please advise the status and what one should do with this property. I believe Emaar in the adjacent sector is close to 20K.

Thanks,
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  • Guys, this thread has gone cold !! Any new developments in the sector? Is UNITECH going to hand over possession in March '13? Any recent transactions that have been done for plots? Please update. Cheers!
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  • Couple of updates on oveall area

    a) 79-80 road electrification: tender is placed. Though road is not there yet.

    b) Heard that 78-79 road is approved. Though have not seen in any paper.

    c) Purab Appartment work is starting in April. Due to that some changes in internal roads. My feeling is that 77-78 road will come up.

    d) Enduserji is complaning that Unitech has changed date to May. I thought you will give us update. Also not sure where Enduserji plot/floor is.

    e) Downtown piling work is WIP.

    f) Garden A Block external plaster is WIP.






























































































































































    b) Purab appartment is going to start in April. Due to that some internal roads have come in plan. My feeling
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  • Originally Posted by chdire
    Couple of updates on oveall area

    a) 79-80 road electrification: tender is placed. Though road is not there yet.

    b) Heard that 78-79 road is approved. Though have not seen in any paper.

    c) Purab Appartment work is starting in April. Due to that some changes in internal roads. My feeling is that 77-78 road will come up.

    d) Enduserji is complaning that Unitech has changed date to May. I thought you will give us update. Also not sure where Enduserji plot/floor is.

    e) Downtown piling work is WIP.

    f) Garden A Block external plaster is WIP.


    Thanks Chdire ! How do points mentioned in a) through c) help the Unitech Sector 97 plots? Sorry, I am not too familiar with the overall layout of the sectors as well as the roads. Best wishes,Couple of updates on oveall area

    a) 79-80 road electrification: tender is placed. Though road is not there yet.

    b) Heard that 78-79 road is approved. Though have not seen in any paper.

    c) Purab Appartment work is starting in April. Due to that some changes in internal roads. My feeling is that 77-78 road will come up.

    d) Enduserji is complaning that Unitech has changed date to May. I thought you will give us update. Also not sure where Enduserji plot/floor is.

    e) Downtown piling work is WIP.

    f) Garden A Block external plaster is WIP.


    Thanks Chdire ! How do points mentioned in a) through c) help the Unitech Sector 97 plots? Sorry, I am not too familiar with the overall layout of the sectors as well as the roads. Best wishes,
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  • Dear BelieveinRE

    Pls refer Wikimapia.

    79-80 road will hit Banur Landran road via sector 105 104 crossing. Horrizontal road from 106 to 105 is already approved. So 79-80 road will be your lifeline till direct road of 78-79 to Banur road via 97 comes up.

    Same goes for 77-78 road. This road will give another connectivity to Unitech sector 107, Garden etc.
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  • I am planning to buy a plot in this area

    1. what is the resale price going for Unitech plots for both sizes.
    2. How much black component will be required.
    3. there are a lot of options, so which sector is good for investment
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  • I have a unitech plot in sec 97 that I plan to hold for a few years.
    1. Rate is around 25k for 500syd. Other sizes ?.
    2. I think the original price was 12.5k so half in cash (deal specific).
    3. Sec 98 Ireo is a good option. Price is around the same.
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  • Originally Posted by Padsup
    I have a unitech plot in sec 97 that I plan to hold for a few years.
    1. Rate is around 25k for 500syd. Other sizes ?.
    2. I think the original price was 12.5k so half in cash (deal specific).
    3. Sec 98 Ireo is a good option. Price is around the same.



    12.5K was the BSP. There were extra charges so the total cost including the PLC would come to approx. 15K

    I heard the price to be in the region of 28-30K in sector-97. Is that correct?
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  • Best I have heard some one get an offer is of 26K. I don't know if it was a plc plot. But generally all plots seem to be well located in the map given by Unitech.
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  • I will be surprised in this down market with people having low confidence in these developers , one will give 26k for unitech plot or even Emmar MGF or IREO whereas for 26k-30K you can buy a plot in Aerocity , best possible location in the whole area. AeroCity and near future proposals of IT City will put the price and preference of all these new sectors on Landran road few years behind. Until the time airport starts and IT industry moves in and people start looking for options which will be cheaper than AeroCity or nearby sectors. For genuine end users in these new sectors it should not be an issue, but for Investors Aerocity and future residential project of ITCity will overshadow investments in these new sectors.
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  • Originally Posted by MSinghji
    I will be surprised in this down market with people having low confidence in these developers , one will give 26k for unitech plot or even Emmar MGF or IREO whereas for 26k-30K you can buy a plot in Aerocity , best possible location in the whole area. AeroCity and near future proposals of IT City will put the price and preference of all these new sectors on Landran road few years behind. Until the time airport starts and IT industry moves in and people start looking for options which will be cheaper than AeroCity or nearby sectors. For genuine end users in these new sectors it should not be an issue, but for Investors Aerocity and future residential project of ITCity will overshadow investments in these new sectors.


    I think you have nailed it m Singh ji
    Aerocity and it city will definitely develop earlier than unitech
    I think the best bet will be waiting for it city plots
    What is happening for appartments
    Falcon,wave and purab
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  • Dear Msinghji

    Any idea why Sec 90 plots are at 50K?

    The whole issue is of possession and connectivity. With these things in sight now, market is there for Unitech. I was negotiating with one of the seller. He reasoned that he will not sell less than Pearl rates which are at 30000K psyd. My reasoning that Peral is charging money in installments backfired as he reasoned that one has to pay all check money in case of Pearl.

    Aerocity location and Unitech location is same. Just measure the distance from Shaheenda Sab Gurdwara.

    Aerocity will definitely be at 60-70K in 3 years. IT City is a distant dream. There will be lot of hype like in aerocity. Then things will cool down. With no IT company coming to Punjab, its commercial area will never develop. That is one big reason launch is getting delayed. (Punjab Govt. tried very hard to sell to IT companies. But Desi IT companies need cheap land. And MNCs need developed towers. Which real estate develoepr will buy land at such rate and devlop towers. Not realistic.) Now also, we hear that land pooling plots are being given. There is no news of Infy, TCS, WIPRO, Congni, IBM,Accenture coming here. Without these companies, IT city is non starter.

    Now on supply side, even if they launch IT City, there will be hype. As aerocity is taking 5 years, IT city's resendential will take 5 years. BY that time if Unitech/IREO had delivered and by the logic of sec 90 plots at 50K, these sectors would be double price than IT city in 3 years. A good rotation strategy. Buy Unitech now. Sell after 3 years. Then buy IT City.

    My thoery is based on Hype Cycle. I reckon Technology Hype Cycle of Gartner applies to Real Estate here. For those friends who are not from IT, it is a graph that depicts how a technology progresses. When new technology is launched there will be lot of hype, then hype will cool down. Then there will be disillusions and it will be at rock bottom. Later problems in technology are rectified and it will stabalize.

    Let's apply this to aerocity. Two years back there was lot of hype as if one who does not buy aerocity will cease to exist. (My friend bought at 24K premium!) Then hype came down. Development is taking time. We need to understand that these massive developments take time. It does not happen overinght. Even Rome was not built in a day. Gurgaon took atleast 15 years to develop. With all the focus from govt, we still have no map and plot no for aerocity. Seewage and road work is happening. Now prices are at rock bottom. Near possession it will rise again and will be stable at 60-70K.

    So it is just timing. Investor who bought at 36000 two years back will be getting 60K -70K after 5 years. Is it a big deal? No. Bank FD will give the same. But investor who buys now will make moolah. 2.5 times in 3 years.

    In hype cycle, Aerocity is 1-2 years behind Unitech. Things have started turning around for them. Even dealers don't talk negative.( May be they are getting commision now!) Share price is up. With possession and connectivity round the corner, it is turning point for Unitech.
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  • Well said chdire ji. The same is perhaps also true for Ecocity, where the premium ranged 10k to 18k immediately after the launch/draw in Dec 2011, but has since moved down by ~6k, to 4k to 12k. The public tends to overestimate the pace of work of new launches, but the bureaucratic, legal, and political systems, and hurdles, remain the same: slow & sluggish, for all these large developments, irrespective of private or GMADA/PUDA, as developer. Even if we were to see the timeline of the most recent large plotted development handed over, i.e., in Sectors 76-80, it took GMADA 8 to 10 years to give possession. Should we expect things materially any different for Aerocity and Ecocity? I leave to everybody's guesses. I also agree that the most time consuming part of these private developers is mostly over. With contracts of roads and lighting under way, perhaps Landran-Banur area is poised for appreciation. Further, it appears that this may be the only one of the three that willbe ready during the next upswing economic cycle within a year or two. BTW, I have interests in all sides (Landran-Banur, Aero and Eco cities) developments, so I would like any or all to develop quick, but can see the reality.
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  • Rightly said. The magic is in possession, especially of plots. At least one can build and start living even if connectivity is kacchha. Very hard to find ready to build plots that are 25k. Having said that Unitech is infamous for delaying beyond imagination. They are not in good shape in NCR.
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  • Reply To chdire

    Dear chdire ji,

    You have very well pointed out and raised question for Sector 90 scenario i.e they are priced at 50k. Reason you have explained very well i.e. because you can build your dream home there right now and you don't have to wait and you will be living opposite to a habitable place, so be ready to shell out more.

    And the facts you have shared regarding the hype cycle are very true in most domains, including launches of IPO and other markets.
    But my preference to Aerocity is on the following basis, though I have still not invested and I'm exploring and studying the options with an open unbiased mind:

    With an open positive (not very pessimistic mind for a change) I'm thinking about future of Mohali (aka Greater Mohali) . For that I'm trying to compare it other past peers where parallel can be drawn, I will take Bangalore and Gurgaon here.

    ITes industry invaded Bangalore, Gurgaon in last 2 decades due to various reasons like abundance of local IT resources available in Bangalore and Gurgaon for its location as near to the National capital and better option for real estate space as compared to Delhi and of course better to Noida ( due to UP factor). Lot of jobs got created , lot of influx of human resources, but no infrastructure was there to support it in the beginning. Infrastructure improved with time to meet the demand, but pace of resource influx outpaced infrastructure, hence result is a great place to work but not to live, due to travel timings, crumbling old infrastrcuture etc. People who have lived and worked in those 2 cities may agree with me.
    But if you compare these cities to Mohali, which will look like an infant today if you compare the IT or other industries etc . But the beautiful difference here is that infrastructure etc is being laid here (6-8 lane roads, airport connectivity, more than integrated 10-15 townships) in preparation of something big which of course is not here but one can hope for. So the main difference is that infrastructure will already exist here before we see large human resource influx to support incoming industries. If Punjab Govt's (though I'm not a big fan of them) is betting and implementing the bets professionally and they are able to get it right and even if Mohali is able to manage 10-20 % of Industry in those 2 cities in next 1 decade, then already laid infrastructure will compliment that and this place will be much better in terms to live and work ( may be best in India) , which both Gurgaon and Bangalore could not achieve. And if this comes true, then the most sought after areas will be on the airport road, nearer to Airpot/proposed Bus Station/Railway the better. Area boasts of IT Parks, ISB,IISER etc. Considering that for a person from investment perspective or for living (in next 4-10 years) , Aerocity is no brainer. Ofcourse if all comes true for Mohali and it is becomes future Bangalore, whole area is bound to benefit, but for now in 2013 when when you are asked to pay same or more for a place which is 5-7 kms away from Aerocity and you have no guarantee of possession and is in control of builders, with whom public have lost faith and do not believe any more in their reputation, I think one is forced to go for Aerocity. Even ignoring the fact that Aerocity possession may be 2-3 years down the lines and Landran road possessions are 1 year down the line, if some one's investment horizon is 5-10 years, in my view Aerocity rates will never be less than Landran road rates even if Aerocity is not habitable. Of course we all understand the key to our Area is connectivity through Airport which is holding IT Park and other numerous projects. 1-2 years down the line, when Landran road projects are giving possession which will trigger the price rise there, at the same time functioning of Airport or commencing of international flights,10 minutes travel distance to Ambala road (new bi pass connecting to Patiala road) will trigger the Aerocity rise. So I'm struggling to find a reason why at any given point in next 5-10 years, Landran road prices will be more than Aerocity, even if IT Industry etc does not move in. This is my rational for preference of Aerocity to Landran road projects on today's date.
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  • Hello MSinghji, well noted. It is a typical risk benefit trade off. Longer the horizon higher the risk and higher the potential return. If you are risk sensitive, go for whichever property you believe will give possession first.

    cheers
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