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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  • Hey hiii...shashakgujjar...can u plz tell me the situation of royal palm in 2013...like still lack of facilities like water, electricity, hospitals, medicals, etc..
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  • whatever negativity that has been going around for royal palms will have to cleared once and for all by the residents.. so far have seen both negative and positive responses coming on this with more positives added recently.. please confirm if any of the building still have a water/electricity problems? some resident did confirmed the shoddy constructions but i guess that can be corrected later.. but if it still has basic problems such water/electricity/legality etc. that will put away prospective buyers and will not help in rising the rate/per sq.f price.. residents please respond..
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  • I have bought a 3 BHK in Ruby Isles building, which is almost completed now. As a matter of fact-
    1- I have got the OC (Occupation Certificate) of the full building, and so as other owners. So offcourse it is a 200% legal property. As OC is instrumental in determining the legality of a building ( the Campa cola building in Worli don't have OC and that's why they are facing probs )

    2- Electricity : They provide 24/7 electricity by Reliance Energies as the rest if Mumbai. So offcourse Electricity is not a problem at all

    3- Water : They don't have BMC water yet but instea of that they provide boring water dedicated to the Building.

    For a decent investment of 5000 per sq feet in 2010 I think I got a good deal for a 1100 sq feet 3 BHK Apartment.
    Where else you can buy property in Mumbai at the same rate ?

    Maybe try Thane or Vashi and keep calling ii Mumbai

    P.S. There are a lot of people on this forum who are prejudiced against Royal Palms and I don't know why. Offcourse they don't have the best of amenities or construction material but decent enough for the price we pay

    Thanks !!!
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  • Hi mit_mi, I have read that article too a few months back. But whatever happened in 1999 must have been legalized now. They are issuing OC's , SBI gives a loan, ZEE TV and RUCHI Industries have their corporate houses and guest houses and few movie stars own bungalows there or have recently bought a land for bungalows. Apart from that, there are like 2000 to 3000 apartments with people living in them. All of this cannot be a facade or scam. Re-selling the property here for sure is hard as the amenities are very few and the construction is average. But if you want to live or rent your property or use it as a vacation home, it's a decent investment.

    On another note, if there is any problem then they have to throw out 4000 to 5000 people living there which I think is not possible. What must have happened is they must have legalized all the flaws and descrepancies in land which might had been there before and right now if you buy a property, you get Occupation Certificate ( which is the backbone of the legality of an apartment ).
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  • thank you starboy786 for taking some time out to post facts.. i would urge more and more residents from this projects to post more comments so that we can clear out all the apprehensions.. by doing so you are making sure you are taking part in increasing the demand against the supply.. :)
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  • By the way, the per square feet rate (psf) was 4000 Rs years back. Right now I am paying the Stamp Duty of my Property and the current market rate is 7,500 Rs per square feet for Royal Palms !!!
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  • Looks like the rates are being hiked in tandem to trap. Lots still available at 5-6k. The builder selling commercial shops and plots 5k negiotiable. Royal Palms is not worth at 7.5k , just my view.
    No BMC water is a big problem. Also you will be 20 mins away from civilisation for most needs.
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  • Yes, there are pros & cons both. I will Offcourse not get full amenities for 5 -6000 Psf. But as I said, rather than paying 6000 or more in virar or thane or Kharghar, I choose to invest in Royal Palms in Goregaon East and I fully accept the flaws ! I can't dream to get a Raheja Building with a swimming pool down and transportation at finger tips, just by paying 5000 Psf. But then that's my opinion. Rests may differ & I respect that.
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  • Hello and Happy New Year.

    garmaith
    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.


    1 January 2014

    Hello,

    This is K.R.Prithvi Raj from Thane. I have read your free and frank opinion about the residential houses in Royal Palms. We are thinking of coming over there on rental basis initially and then purchase a place, if we find it OK. I shall be happy to exchange our ideas with you. As and when convenient, please call me up on my number so that I can get some of my queries cleared by you. Your mail is very positive and comes as a silver lining to the long list of members who are not so happy. I would appreciate if you can call me.

    Regards,

    K.R.Prithvi Raj
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  • Hello,

    I am planning to buy 1BHK in Royal Palms.
    I want few answers here.

    How is people around there?
    How far is police Station?
    How far is Hub mall from this place?
    Is there water supply from BMC?
    Is it safe to travel at night around 11pm?
    Toll Booth charges every time car enters or goes or is there any facility for societies?

    I appreciate if i get proper and frank answers here. really these answers will either save my money or increase my money :)

    Thanks & Regards,
    Mukesh
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  • Ignore Royal Palm all together if you respect value of your money, forget about BMC water,safety etc.
    Please don't ask me why, just go & visit yourself and decide??
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  • When i went to visit the place , did not see too many ppl around. Met 1 couple who were very nice and invited us to come and see their flat.
    5 mins drive to main aarey road and 15 mins to highway.
    Hub/oberoi mall both will be 20 mins
    no bmc water.24 hrs tanker water. Drinking water u need to buy bisleri
    Around 11pm is very dark in aarey, its fine with ur own vehicle.

    I love the place but the builder has spoilt this place which could have been lovely if developed properly. The biggest problem with aarey is no guarantee when u sell if u will get a buyer. The builder charges 4.5 per sqft for maintainence. Also fsi is calculated on a floating basis so even if govt increases fsi , builder gets all fsi. Take a look at the no of flats on sale in royal palms. Makes more sense to buy a flat elsewhere , put it on rent and rent a place here if you wanna enjoy the quiet and green atmosphere. At least your money will be safe.

    Originally Posted by mikachaps
    Hello,

    I am planning to buy 1BHK in Royal Palms.
    I want few answers here.

    How is people around there?
    How far is police Station?
    How far is Hub mall from this place?
    Is there water supply from BMC?
    Is it safe to travel at night around 11pm?
    Toll Booth charges every time car enters or goes or is there any facility for societies?

    I appreciate if i get proper and frank answers here. really these answers will either save my money or increase my money :)

    Thanks & Regards,
    Mukesh
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  • Royal Palms about stock Clearance sale.

    In TOI there was articles Royal Palms about stock Clearance sale.
    Attachments:
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  • Originally Posted by starboy786
    Yes, there are pros & cons both. I will Offcourse not get full amenities for 5 -6000 Psf. But as I said, rather than paying 6000 or more in virar or thane or Kharghar, I choose to invest in Royal Palms in Goregaon East and I fully accept the flaws ! I can't dream to get a Raheja Building with a swimming pool down and transportation at finger tips, just by paying 5000 Psf. But then that's my opinion. Rests may differ & I respect that.


    This is basically my reasoning as well, I accept that there are flaws but I don't feel the value of the place can fall (worst case scenario) it may appreciate less but at this rate there is no other location within Mumbai city limits
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