Why is royal palms in Goregaon(E) such a failure ? The rates I hear are very low. What is the catch here ?
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  • hi

    i read a full thread but still thinking in future it will be a good investment

    i got an offer ready posseion 750 sqft 6,000 per sft rate.is it ok .
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  • Originally Posted by surya2089
    i read a full thread but still thinking in future it will be a good investment

    i got an offer ready posseion 750 sqft 6,000 per sft rate.is it ok .


    it is the most pathetic place to invest, it is better to invest in Mira road than in this place, there is no scope of expansion, nor will there be good schools, shopping complexes or malls come up in this place.

    Royal Palms was marketed at 6000psf in 2010 so you can imagine the appreciation that has happened so far (0% precisely, infact negative return as compared to inflation)
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  • hi

    thanks pande
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  • hi any people living in royal palms or have purchased in ruby isle? please i would like to communicate with you as a fellow purchaser. so we can move forward with our homes and investment.
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  • Lot of concern is based on hearsay, over-reaction or past issues. I was one of the early movers in one of the buildings here - had a lot of hardships first few years but continue to hold my flat and feel I did the right thing.

    The developer undoubtedly hasn't got any semblance of integrity, honesty or vision, that reflects on quality & price both. Had the same property been owned by any other reputed developer, the property price would have been at least 3 times higher.

    As far as I could probe, the land is a private piece of land and not a forest land (please make your own inquiries...all i am sharing is my understanding and I reserve my right to be wrong). Heard some BMC officials buying flats in Summit for example. I hope, they must be better informed.

    Despite some residual worries associated with it, let's not forget it has intrinsically some extremely positive values - centrally located between western & easten lines....just a few minutes drive from both airports (domestic & international) and also close to Andheri, Powai and BKC... and yet a peaceful location .... 2 - 3 degree celcius cooler than rest of Mumbai. You get all these things in the heart of a city like Mumbai at this absurd price -- may not be a bad bargain, many would argue.

    One can draw solace from the fact the problems are man-made and therefore mostly resolvable. Like a scrip languishing in the equity market for long, ultimately starts moving towards more realistic valuations it deserves, this property will move up and has been moving up slowly for last 3 years. With recent developments - formation of society, availability of Occupation Certificate, resumption of bank loan facility (a few banks have already started providing loan again) - buildings such as Summit Apartment could now be a good buy as it is right at the main entrace where we have Mayur Nagar bus stand and auto/taxi stand as well. Buses ply to Goregaon E station every few minutes and shuttle between this point and Goregaon E (till midnight). So, if you don't have your car / bike, you can still manage.

    Call Meru or any similar cab-service anywhere in Mumbai anytime in hour of need. I have a few auto drivers number as well and have sometimes called them past midnight (medical emergency case or early hour train/flight to be boarded). Because of my job nature (IT support), had been commuting at odd hours and never had any issue. First few days I was a bit scared travelling alone at late hours - no longer now.

    Agreed this is not amongst the preferred properties in Mumbai...has its own share of issues but they have been blown disproportionately...things have improved. To majority of buyers it remains a "value for money" though there have been very frustrating phases in past and people having more objective view now will proabably not repent. Of course those expecting quick bucks have been disappointed till now - is this the right time to get in - only the future will tell.
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  • hi

    what price u bought --because some time back me also thinking as his proxmity to mumbai
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  • Hi, I booked an apartment in last quarter of 2005 and got possession in mid 2007.
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  • Originally Posted by ajitkcnew
    Hi, I booked an apartment in last quarter of 2005 and got possession in mid 2007.


    I am being offered a 764 sqft Super built up (520 carpet) at 48L in Palms II adjacent to Summit. Is that a good buy ?
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  • Originally Posted by ajitkcnew
    Lot of concern is based on hearsay, over-reaction or past issues. I was one of the early movers in one of the buildings here - had a lot of hardships first few years but continue to hold my flat and feel I did the right thing.

    The developer undoubtedly hasn't got any semblance of integrity, honesty or vision, that reflects on quality & price both. Had the same property been owned by any other reputed developer, the property price would have been at least 3 times higher.

    As far as I could probe, the land is a private piece of land and not a forest land (please make your own inquiries...all i am sharing is my understanding and I reserve my right to be wrong). Heard some BMC officials buying flats in Summit for example. I hope, they must be better informed.

    Despite some residual worries associated with it, let's not forget it has intrinsically some extremely positive values - centrally located between western & easten lines....just a few minutes drive from both airports (domestic & international) and also close to Andheri, Powai and BKC... and yet a peaceful location .... 2 - 3 degree celcius cooler than rest of Mumbai. You get all these things in the heart of a city like Mumbai at this absurd price -- may not be a bad bargain, many would argue.

    One can draw solace from the fact the problems are man-made and therefore mostly resolvable. Like a scrip languishing in the equity market for long, ultimately starts moving towards more realistic valuations it deserves, this property will move up and has been moving up slowly for last 3 years. With recent developments - formation of society, availability of Occupation Certificate, resumption of bank loan facility (a few banks have already started providing loan again) - buildings such as Summit Apartment could now be a good buy as it is right at the main entrace where we have Mayur Nagar bus stand and auto/taxi stand as well. Buses ply to Goregaon E station every few minutes and shuttle between this point and Goregaon E (till midnight). So, if you don't have your car / bike, you can still manage.

    Call Meru or any similar cab-service anywhere in Mumbai anytime in hour of need. I have a few auto drivers number as well and have sometimes called them past midnight (medical emergency case or early hour train/flight to be boarded). Because of my job nature (IT support), had been commuting at odd hours and never had any issue. First few days I was a bit scared travelling alone at late hours - no longer now.

    Agreed this is not amongst the preferred properties in Mumbai...has its own share of issues but they have been blown disproportionately...things have improved. To majority of buyers it remains a "value for money" though there have been very frustrating phases in past and people having more objective view now will proabably not repent. Of course those expecting quick bucks have been disappointed till now - is this the right time to get in - only the future will tell.

    ______________________________________

    Hi Ajit, your views make sense to me however reading the comments of the lady about people being corrupt and above all trying to rape her really scared the hell out of me. Even i am thinking of buying a flat in Royal Palms and m planning a visit soon. Would you suggest any particular building which i should consider other than summit?? or any building which i should not consider at all.. Also Ajit, i would like to have a word with you if its ok with you? Do let me know your views..
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  • Originally Posted by ShilpaGoenka
    Hi Everyone. Had read all the negative things about Royal Palms. Still when I saw a flat , couldn't help but buying it. Its a resale flat and I invested my entire life's saving in buying this flat and had to take a loan also. I am not an investor or an NRI who has lot of money. I am an actual buyer who stays in my flat and will never sell it. The view is just amazing and you feel so fresh after coming home. I just feel like staying in heaven. If anyone is planning to buy a property in Royal Palms, I would suggest only 4 buildings where you can purchase a flat without any issues. Its Palms 1, Picadilly 1, Emerald 2 & Picadilly 3. All these buildings have a registered society and an (OC) Occupancy Certificate which is issued by BMC. So these properties are absolutely legal. These 4 societies are very active and there is no problem of water, electricity and cleanliness. The Private banks used to issue loan in Royal Palms couple of years ago, however, they dont give loan now. The reason is not that the properties are illegal or there are defaulters in this area, Its mainly because of their dispute with the Builder which they don't reveal. All nationalized banks provide loan in Royal palms if the property documents are clear. I took the loan from SBI. The 1st document they asked for was OC or else they dont provide loan. Dont buy any underconstruction property from the builder as you dont know when will you get the posession and even if you get the posession, you will be at the mercy of the builder for the basic necessities, till the society is formed, which take ages. I got all my property documents checked by a lawyer and also by BMC as my childhood friend works in BMC. Everything is legal and its not a forest land.

    Thanx Shilpa,
    For yur review, ia m looking for2 bhk to live not to invest can u suggest me more,would like to talk to u on phone ,if u r ok with that..I am looking for genuine society to live in ..having genuine people around me..will appreciate yur help..
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  • Originally Posted by Vkhajuria
    ______________________________________

    Hi Ajit, your views make sense to me however reading the comments of the lady about people being corrupt and above all trying to rape her really scared the hell out of me. Even i am thinking of buying a flat in Royal Palms and m planning a visit soon. Would you suggest any particular building which i should consider other than summit?? or any building which i should not consider at all.. Also Ajit, i would like to have a word with you if its ok with you? Do let me know your views..


    Hi - there seems to be a power-war going on between two factions to have their dominance in the newly formed society. So, not sure if this is an attempt to malign the current set of people enjoying key roles in societies. Anyway, there are 3 more buildings within 30 meters radius from Summit and you can have a look at apartments there.
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  • I am planning to buy a flat in Ruby isle, please share your experience

    i am planning to buy a 3bhk in Ruby isle. well, i already own a house, but looking to rosy picture showed by developers ,like its closeness to highways,malls, and green surrounding, i have been thinking of moving there. possession is expected in 3months....
    so guys please share your personal experiences with Royal palm developers, people staying there, society politics, access to school,college, public transport, market etc. also need to know about parking, lift working ,security,water...

    and also can you suggest any other building where you can suggest me to buy a flat? please help, dont want to regret my decision for lifetime...
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  • Warning - STAY AWAY
    OR
    REPENT LATER ALL YOUR LIFE
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  • Okay. thank you so much for your valuable Advise.... :)
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  • No Matter what your friendly neighborhood broker or developer says. Stay away from Royal Palms! There is a reason the prices here are so low.
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