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Royal Palms by Royal Palms India in Goregaon East, Mumbai

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Royal Palms by Royal Palms India in Goregaon East, Mumbai

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  • #31

    #31

    Re : Royal Palms by Royal Palms India in Goregaon East, Mumbai

    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.

    Comment

    • #32

      #32

      Re : Royal Palms by Royal Palms India in Goregaon East, Mumbai

      Originally posted by EricaT View Post
      Okay. thank you so much for your valuable Advise....
      Originally posted by EricaT View Post
      Okay. thank you so much for your valuable Advise....
      EricaT please get in touch as I have some info on a particular building.

      Right, since this is a subjective topic my 2 paise on this remains one of the different individual views we have on this forum; I guess that's what makes this forum more interesting. So..before I start this let me state that IMHO (in my honest opinion) this place rocks in value for money if you are looking to live in "MUMBAI" and use the flat as primary home however if you are looking to invest (whether short or long) please do not read further as it may be awarded the top 10 worst realty investment awards.

      I've been researching this place since a long time and hold small equity here, my gut feel in this first instance was wow! however as time passed by I realized this builder was simply too orthodox (he does need a fast track MBA) and lost the race when he had the potential to get closer with top builders in Mumbai. Everything used in his project seems to be low budget material including the new building next to Ruchi House which has old narrow cheap windows, cheap quality bathroom doors etc. This also includes the cheap hires in form of sales staff, simply no marketing or enough knowledge about investing or understanding customers but I guess with that low budget not a lot of hi profile clients would be interested. About the area itself, I think its one of the best reasons to live because;

      1. Most obvious thing is the price/flat = VFM (value for money)..yes that's something which you don't get anywhere in Mumbai at this rate of INR 5500-6000 per sq ft! and yet you are in the loop of the city NOT anywhere in Thane, Vashi or Borivali+ (with due respect ppl from there please excuse me) which would be easily hours away from suburban Mumbai. The area obviously is 2 kms or about 10 mins away from the Main Aarey gate (The INR 7 toll is irritating better to take the free road from Powai, residents have a pass I think) however that puts you on the highway and within minutes you can reach Andheri W (30-45 mins), Malad InOrbit (25-35 mins), Oberoi Mall (20-25 mins). Not sure if a lot of people know; the back road through Powai/Chandiwali or through Vijay Nagar leads to the international airport within 30-40 mins, domestic say 45 mins, now that is a strong point in RP's case.

      2. At a time where builders are charging exorbitant rates for Parking (in most cases the parking cost is twice-thrice amount of the car) here is a place where you have LOADS of parking space (allotted in some apartments) and lot of space outside apartments to park..all for free!

      3. Environment: As someone else too pointed out before the climate is 2-3 degrees lower than rest of Mumbai, I actually experienced it - it indeed is a bit cooler inside.

      4. Fantastic views are along the way with a natural lake on the way and loads of greenery (Khandala where?!), its a treat in the monsoon.

      5. The area is perfectly legal and don't see any ramifications for the legal residents as the govt is accepting stamp duty and registration. Re; bank loans, it differs on individual credit scores, relation with banks, their current policy status etc so some may or may not give a loan but I know 6-7 banks on hand for sure where one can get a loan easily. Re water and power, there is'nt any power issue (if you find in any building dont buy) but some buildings do have water issues, better to check this before buying, palms 1 and few others have 24 hours running water.

      6. The area is secured by building security and the main gate security (saw a cop on the gate as well a few times) so don't think that's a concern inside except the odd leopard incident. The commute from outside gate is not feasible but you have autos and buses running in late. Again, car is a necessity here.

      Now the

      1. There has'nt been a single time of all my visits where I have'nt seen an odd nigerian or russian ladies strolling around or buying from the stores outside the main RP gate. My guess with due respect and w/o prejudice is could be film worker/extras, escorts or dope dealers. Now that's not a great thing esp if you have kids or young family, but hoping they won't be more than 5% of the total population in RP. So before buying you need to ask yourself.. Is that an issue? No..imo.

      2. Pathetic design in architecture, leakage in most flats, low quality material along with the builders bad name has given this overall area a tag of 'stay away' place, however looking deeper these are problems which can be resolved and not something out of limits. Stone or sand walls (I'm sure there are better alternatives these days) could help with the damp wall issues, refurbish plumbing by society etc can't help with the Architecture but the money which you save (40-60%) over a similar buy can be utilised to cover up and luxurify your home which you could'nt afford before, how about a car upgrade (which is a must here though) or simple get it invested and you have an alternate source of income for your potential next purchase.

      3. Badly managed lifts; I think there would be 40-50% tenants in these buildings (film students, workers, foreigners) no wonder the lifts are scratched, scribbled, flats and corridoors badly maintained etc.

      4. There's a supposed Orchard mall (which caught fire recently) which does'nt seem will see the day light.

      5. No major stores or ! There is an odd chemist though and a restaurant in the club house which delivers too.

      6. Type of residents; I don't have a real idea on the tier or type of residents living but some buildings seem to have problematic owners while others like Palms 1 has a great society. So this differs on building.

      7. With all the above points, the area has managed itself a bad brand, but then is this something which is reversible? Maybe.. Does this bother you? to each his own..would'nt matter to me if I would get a 2 BHK in circa INR 50 lacs compared to INR 1.2-1.4 Cr in other areas, invest the remaining funds, or live an upgraded life rather than spending tons on new flats where land cost is no more than 25% and the builder usurps the 45% margin.
      Last edited by wiserealty; April 19 2013, 10:06 PM.

      Comment

      • #33

        #33

        Re : Royal Palms by Royal Palms India in Goregaon East, Mumbai

        Hi,

        I am thinking of buying 2bhk flat in Garden view apartment. I would be staying there with my family.
        Can someone please let me know
        1. whether its a good choice.
        2. Will i face any problem in getting loan from SBI.
        3. How is the locality/society.
        4. Any chances of appreciation of property in future.
        5. Any generic feedback.

        Thanks,
        Aditya.

        Comment

        • #34

          #34

          Re : Royal Palms by Royal Palms India in Goregaon East, Mumbai

          what rate u r getting and how much area

          Comment

          • #35

            #35

            Re : Royal Palms by Royal Palms India in Goregaon East, Mumbai

            There is an ad in ToI today - royal palms selling commercial at 6000 psf and interest free emi for 12 months - not sure what to make of it - sounds little on the lower side

            Comment

            • #36

              #36

              Re : Royal Palms by Royal Palms India in Goregaon East, Mumbai

              I am planning to buy 2 bhk flat in palm 2 in royal palm. Is there any issue in this(palm2) building. I heard from someone that there is water supply problem. Could you please someone suggest me?

              Comment

              • #37

                #37

                Re : Royal Palms by Royal Palms India in Goregaon East, Mumbai

                Originally posted by nikhil22 View Post
                I am planning to buy 2 bhk flat in palm 2 in royal palm. Is there any issue in this(palm2) building. I heard from someone that there is water supply problem. Could you please someone suggest me?

                There is no BMC water available in entire Royal Palms. You will have to buy bisleri water for drinking purposes. However as far as I know there is 24 hour water supply in Palms II (albeit of tanker water).

                How much rate are you getting for Palms II ?

                Comment

                • #38

                  #38

                  Re : Royal Palms by Royal Palms India in Goregaon East, Mumbai

                  Originally posted by wiserealty View Post
                  EricaT please get in touch as I have some info on a particular building.

                  Right, since this is a subjective topic my 2 paise on this remains one of the different individual views we have on this forum; I guess that's what makes this forum more interesting. So..before I start this let me state that IMHO (in my honest opinion) this place rocks in value for money if you are looking to live in "MUMBAI" and use the flat as primary home however if you are looking to invest (whether short or long) please do not read further as it may be awarded the top 10 worst realty investment awards.

                  I've been researching this place since a long time and hold small equity here, my gut feel in this first instance was wow! however as time passed by I realized this builder was simply too orthodox (he does need a fast track MBA) and lost the race when he had the potential to get closer with top builders in Mumbai. Everything used in his project seems to be low budget material including the new building next to Ruchi House which has old narrow cheap windows, cheap quality bathroom doors etc. This also includes the cheap hires in form of sales staff, simply no marketing or enough knowledge about investing or understanding customers but I guess with that low budget not a lot of hi profile clients would be interested. About the area itself, I think its one of the best reasons to live because;

                  1. Most obvious thing is the price/flat = VFM (value for money)..yes that's something which you don't get anywhere in Mumbai at this rate of INR 5500-6000 per sq ft! and yet you are in the loop of the city NOT anywhere in Thane, Vashi or Borivali+ (with due respect ppl from there please excuse me) which would be easily hours away from suburban Mumbai. The area obviously is 2 kms or about 10 mins away from the Main Aarey gate (The INR 7 toll is irritating better to take the free road from Powai, residents have a pass I think) however that puts you on the highway and within minutes you can reach Andheri W (30-45 mins), Malad InOrbit (25-35 mins), Oberoi Mall (20-25 mins). Not sure if a lot of people know; the back road through Powai/Chandiwali or through Vijay Nagar leads to the international airport within 30-40 mins, domestic say 45 mins, now that is a strong point in RP's case.

                  2. At a time where builders are charging exorbitant rates for Parking (in most cases the parking cost is twice-thrice amount of the car) here is a place where you have LOADS of parking space (allotted in some apartments) and lot of space outside apartments to park..all for free!

                  3. Environment: As someone else too pointed out before the climate is 2-3 degrees lower than rest of Mumbai, I actually experienced it - it indeed is a bit cooler inside.

                  4. Fantastic views are along the way with a natural lake on the way and loads of greenery (Khandala where?!), its a treat in the monsoon.

                  5. The area is perfectly legal and don't see any ramifications for the legal residents as the govt is accepting stamp duty and registration. Re; bank loans, it differs on individual credit scores, relation with banks, their current policy status etc so some may or may not give a loan but I know 6-7 banks on hand for sure where one can get a loan easily. Re water and power, there is'nt any power issue (if you find in any building dont buy) but some buildings do have water issues, better to check this before buying, palms 1 and few others have 24 hours running water.

                  6. The area is secured by building security and the main gate security (saw a cop on the gate as well a few times) so don't think that's a concern inside except the odd leopard incident. The commute from outside gate is not feasible but you have autos and buses running in late. Again, car is a necessity here.

                  Now the

                  1. There has'nt been a single time of all my visits where I have'nt seen an odd nigerian or russian ladies strolling around or buying from the stores outside the main RP gate. My guess with due respect and w/o prejudice is could be film worker/extras, escorts or dope dealers. Now that's not a great thing esp if you have kids or young family, but hoping they won't be more than 5% of the total population in RP. So before buying you need to ask yourself.. Is that an issue? No..imo.

                  2. Pathetic design in architecture, leakage in most flats, low quality material along with the builders bad name has given this overall area a tag of 'stay away' place, however looking deeper these are problems which can be resolved and not something out of limits. Stone or sand walls (I'm sure there are better alternatives these days) could help with the damp wall issues, refurbish plumbing by society etc can't help with the Architecture but the money which you save (40-60%) over a similar buy can be utilised to cover up and luxurify your home which you could'nt afford before, how about a car upgrade (which is a must here though) or simple get it invested and you have an alternate source of income for your potential next purchase.

                  3. Badly managed lifts; I think there would be 40-50% tenants in these buildings (film students, workers, foreigners) no wonder the lifts are scratched, scribbled, flats and corridoors badly maintained etc.

                  4. There's a supposed Orchard mall (which caught fire recently) which does'nt seem will see the day light.

                  5. No major stores or ! There is an odd chemist though and a restaurant in the club house which delivers too.

                  6. Type of residents; I don't have a real idea on the tier or type of residents living but some buildings seem to have problematic owners while others like Palms 1 has a great society. So this differs on building.

                  7. With all the above points, the area has managed itself a bad brand, but then is this something which is reversible? Maybe.. Does this bother you? to each his own..would'nt matter to me if I would get a 2 BHK in circa INR 50 lacs compared to INR 1.2-1.4 Cr in other areas, invest the remaining funds, or live an upgraded life rather than spending tons on new flats where land cost is no more than 25% and the builder usurps the 45% margin.
                  there is no garuntee that just because govt accepting stamp duty and registration means that it is perfectly legal , take it from me it does not mean any thing

                  banks -- those are devils in disguise , they cannot go after the builders as they have not taken any co-lateral and also builders have legal resources to get an injunction from courts , but they know that an individual ( mango admi) does not have the resources or the time to do any so they are betting that even if they do not do due diligence the onus is on the person who is actually buying the property and not the bank

                  my .002 paise

                  Comment

                  • #39

                    #39

                    Re : Royal Palms by Royal Palms India in Goregaon East, Mumbai

                    Originally posted by Rishabh393 View Post
                    There is no BMC water available in entire Royal Palms. You will have to buy bisleri water for drinking purposes. However as far as I know there is 24 hour water supply in Palms II (albeit of tanker water).

                    How much rate are you getting for Palms II ?
                    Its a resale 2 bhk flat and the rate is near about 6000/-. What is your advice on this palm 2 building?

                    Comment

                    • #40

                      #40

                      Re : Royal Palms by Royal Palms India in Goregaon East, Mumbai

                      1. Originally posted by nikhil22 View Post
                        Its a resale 2 bhk flat and the rate is near about 6000/-. What is your advice on this palm 2 building?
                      Please check with the builder as well. I saw 4999 being quoted near the gate. (But that is for commercial property though).

                      I am sure you are aware of the incidental cost of buying a flat in RP. There is no appreciation in prices since last 4 years. Good only if you stay there and yes if you have a car. Dont even think of buying there otherwise.

                      Specifically abt Palms II, there is intercom facility available. Not much of an issue with the society. People are decent. They are installing CCTV cameras in the building shortly. They are in talks with BMC and builder for BMC water supply. Society has OC from BMC. No issue with property tax as well. Maintenance @4.5 psft. 24 hrs tanker water supply (already said that)

                      Happy buying.

                      Comment

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