Anyone knows whats the current rate at Lodha Aurum including floor rise. One of my friends had booked last Diwali at 6500 . Also heard that some people had booked at 7400 in march or so.
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  • As prevously mentd the kanjur/vkhrol DG s not the usual DG , the permsson was granted wth a specal request that t would be bo reactor DG lke n brazl n whch there s no stench. Snce the contractor broke the rules, the DG s stopped untl further notce.


    11 May 2013Hndustan Tmes (Mumba)Nkhl M Ghanekar nkhl.ghanekar@hndustantmes.com
    Stop use bo-reactor at Kanjur dump tll eco mnstry’s nod: HC


    MUMBA: The Bombay hgh court (HC), on Frday, asked the cvc body to stop usng the bo-reactor landfll technology to process waste at the Kanjurmarg dumpng yard, tll t gets the envronment mnstry’s nod.
    A bench justce DY Chandrachud and justce SA Sayyed sad that the cvc body has not compled wth the Muncpal Sold Waste Rules, 2000, and volated envronmental clearance condtons by reclng wetlands outsde the 65 hectares allotted to dump sold waste. t asked the cvc body to stop the reclaton wetlands and restore mangroves to ts healthy state.
    The bench had clubbed the hearng publc nterest ltgatons by non-prt organsaton Vanashakt and another wrt petton fled by Vkhrol MLA Mangesh Sangle. Both partes are seekng closure the landfll ste.
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  • Getting too many mails from brokers may not be a good indication that the project is not doing good , but this time they have just crossed all limits , which makes me beleive that its not doing good.

    I dont know whether the dumping ground will be the one you are speaking about , but all i know is that it was the usual dumping ground a few months back and obviously people in Kanjur East were very much pissed off. It might have been on hold for sometime , but i am not sure whether something will change drastically. Could be on hold also cos of upcoming elections , shown as a enquiry for general public.

    I am not that keen on this project for multiple reasons 1) Lodha as a group has launched so man projects all across and i wonder what's with them , where is the money ? From a good builder , they are losing out their reputation as a builder known for massive delays.

    2) Kanjur East as a area has nothing , For every other thing you will have to make your way to Powai. There is no decent restaurant there , just a few shops here and there . The only positive is the station , which is too close from the site of Lodha Aurum

    3) Pre launch ? - What a joke - with 60% upfront payment for a project about to start , i will never park my money there. I will rather suggest B14 from Bhagtani in Chandivali , a pre launch with all 4 bhks offering much better rates i.e. 2.3cr for a 4 bhk - 2700 sqft - right next to Hiranandani powai . Note - I had checked the rates few months back and the rates at powai might have seen some appreciation , however the builder is open to negotiation if down payment is more than what he asks for. I have not further details about the project and most of it is in public domain , including this forum and bhagtani's website.

    Lodha - Kanjur is a strict no as i am worried regarding the possession and the dumping ground. Remember , most of the garbage in mumbai is still carried in open trucks and that Dumping ground is huge , could be a big negative for resale. Dont follow brokers , check for better options.

    Originally Posted by invader
    Getting chain of emails from brokers is not an indication of the project doing bad or not selling. All lodha projects is usually done this way by offering first 100 or 27 buyers. The DG issue is overblown since it is far away... I personally visited the site and stayed at an friends vacant apartment there for a week during my visit to mumbai to smell the impact of DG,absolutely nothing. As i had mention before the new DG should not have land fill site as that in other sites,it should have a bio reactor plant like that in Brazil. Even the DG contractor has been called for SIT investigation last month directly ordered by the CM,because the high court had clearly said if this DG is same as deonar it will be closed down.
    I had also checked the RNA Royal Park , it is all sold out and still there are enquiries coming in for Flats. As i already provided the link in the previous posts about the huge corporate park coming which has been designed and passed. Bombay Dyeing is also launching a project on the bombay burmah plot,also sky residences on exide will also be launched.

    I am only posting this not due to any stake in any lodha projects but purely as an investor and did the background check personally. But as i said ...it is a personal decision.
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  • Let us do some analysis here. The base cost of the flat is 1.27 Cr. Adding Registration, stamp-duty,parking,society charges,VAT,etc. it comes to 1.5 Cr. Kanjur East is not a very developed locality with most residents being salaried middle-class and lower middle-class folks.
    Now let us analyse how much salary one needs to draw to be able to afford a home here. For a total cost of 1.5Cr, 80% will be financed by Bank as Home Loan which is 1.2Cr. The rest 30L has to be down payment. I wonder if any salaried fellow in Mumbai has 30L available to make as down payment!!!!!
    Even if he has, the rest 1.2 Cr is borrowed from the bank at an EMI of around 1.2L monthly. Which means total in-hand salary should be 2.4L monthly!!! To have an in-hand salary of 2.4L monthly means the Gross annual package should be more than 33L!!!!! Which is exorbiant!!! This too after assuming that there is no car-loan,personal-loan and no other loan and after making 30L as down payment. It certainly makes no sense at all!!!

    The builder and brokers would like you to believe that Lodha aurum is an "island of luxury" and only "monarchs" live here. Ya, its an island of luxury with the stench from the DG and the absolute lack of any community facilities in the immediate neighborhood !!!!:D
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  • It does not take much time to find actual facts from BMC if you file an RTI. The Kanjur Marg Dumping Ground is a not a land fill site as deonar, Mulund or the one that was previously operational in the Western Suburbs. The KG DG is situated in a CRZ zone and is a saltpan land which comes directly under Central Govt. That is the reason no development has happened on it so far since it is a CRZ. Even for starting this DG the permission had to come down from Central Govt
    .The permission was given with the condition that it would house a bioreactor plant which would convert the waste in to composite which will be buried to convert into manure. This process is already present in Brazil which is already won many awards because it is stench free, you can generate electricity and it is more like a garden. The person who won the contract was supposed to construct the plant, but this is India so you try to get away from constructing the plant and dump it directly on the mangroves and make it a regular DG. That’s the reason there was protest from Vikhroli kanamwar nagar residents led by their MLA. It affects Vikhroli more than Kanjurmarg East. How many DG has been given stop notices 3 times in last 8 months? None. The reason is that central govt will revoke the permission given if he dumps and hence the stop order from HC. The issue is so serious that CM himself is now involved and has already started a SIT investigation in to the issue; second the CM has asked the BMC to spend 250 crores from its own pocket and build the bio reactor plant. If it does not the DG will be closed and Mumbai will have no place to recycle your dump. It has nothing to do with politics the operation of the DG is being monitored by the High Court and Mumbai pollution board has recently submitted report that speaks of breaking rules hence the stop order. I had the blue print of the DG with complete layout when I did my homework for investments.

    Your second reason that Kanjur Marg East has nothing is absolutely ridiculous. The shops for all your daily need extends from mansukh mill compound (where happy planet is located, where children from powai and western suburbs come to organize parties and play) all the way till bhandup east.via st francis school .it extends more than 2 kms with shops lined on both sides. What more do you need. Ohh decent Restaurants well there are small udipi type takeaway restaurants, I always used to get delivery done by Dominos, pizza hut, Smokin also food from sheetal samudra, sheesha and urban tadka from R city all the way to my house on week days and go to either R city (Ghatkopar) or Nirmal Lifestyle (mulund) by catching a bus ie bus no 603 or 545 from kanjurmarg East. I was ok with that because you do not go out for eating daily and yes never went to powai…. It does not have any malls, and its time in the sun for shopping and hanging out is fading fast.
    If you planning to buy a house in Kanjurmarg, It is close to station, close to powai as metallica mentioned, 2 minutes to Eastern express Highway, close to eastern freeway which will open soon ,close to Navi Mumbai, Close to ghatkopar for metro, 2 mins Close to JVLR, close to airport, will be closer to Navi Mumbai airport when it opens. The Line 3 Metro which has already received all approvals and funding will link colaba to bkc-airport-seepz- kanjurmarg/another line ghatkopar to thane will also pass by KG. Seepz is much closer and easily accessible from kanjurmarg. Hospitals are so important, Hirananadani hospital, Godrej Hospital, Fortis hospital are all near. In fact fortis hospital can be reached by an internal road running from kanjurmarg east to bhandup east- nahur with out even accessing lbs or eastern express highway. Had personal experience when my child was born ,had to rush my wife to Hiranandani hospital for delivery..reached in 10 mins. Staying far from station would mean travelling in a crowded train, catching a Bus or a Rickshaw , the extra expenses for Bus or auto adds up to your per square foot cost in a larger way than you think.


    In the 80s my father wanted to buy in hiranandani Powai, all the armchair experts gave him a hundred reasons not to saying it was backward,far from station etc etc and he listened. The way that area developed taught me the first lesson in Investment, do your own home work? I did that when I bought my own apartment in 2005 in a so called least developed area and the same armchair experts came to give me advice. Having leaned my lesson thanks to my father I went ahead doing my own homework and made my first 6 bagger.

    The other priority when you buy a house is safety; Kanjurmarg police station has the lowest crime in Mumbai. (reference was the TOI report features about safest areas in Mumbai)

    Ayaan said that the area is made up of low middle class and middle class. That is a very racist and stupid comment. Oh yeah have you visited Lower Parel, colaba, the western susburbs every luxurious project is surrounded by slums and for miles. Even powai has a huge slum population. You are in Mumbai no area is upper class , all areas are a mix of higher class, lower class or middle class it should not be a problem. It is these lower class people who come to your house to do your house hold chores, becomes your driver. If there is now lower class people around you ,you will end up doing all your household work by yourself.

    Now coming specifically to Lodha project, he has many hidden costs and the total costs will always be higher. I am no big fan of his. That is a personal call each one of you has to take. I am not invested in Lodha nor do I plan to invest. Always remember one thing…the current price in any project or any place will always be the highest for that area at the moment when you go to buy. The call you have to take is how you see the area going forward. There is a huge space in kanjurmarg currently occupied by Exide, Bombay dyeing, Crompton, Ajmera . MMRDA has already declared Kanjurmarg as Central Business District (CBD) , you can check MMRDA website or google it. Bombay dyeing is in the process of launching a project, Exide is already closed and a new project Windsor sky gardens will be launched. There is an American Counsulate or Chamber coming up in kanjurmarg east..have seen the plans but do not exactly where. Already seen the blue print of Ajmera conbstruction of offices in kanjurmarg east. Crompton does not have much manufacturing left in Kanjurmarg..it will go for commercial development. In equity / realty investments try to do a through research yourself and never listen to any one including me when you make investments. You make multi baggers or huge returns only when you see through the noise and clutter and can visualise the future growth. Whatever I mentioned above can be found out by using Google.

    Regarding bhagtani project, I have no idea. Metallica may know better. I will only speak about the things I know about and can place facts about. No point in making statements with no evidence.

    Disclaimer: I stayed in Kanjurmarg for 6 years with family, now recently relocated . I can talk from personal experience.
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  • Guys please take it easy. Kanjurmarg is whatever it is, but it is not Andheri or Powai, and will not match Andheri or Hiranandani in the next 10 years. unlike how the Lodha have been promoting it, specially due to the fact that their project location is not a desirable area of kanjurmarg, neither for upper-middle class, and certainly never for upper class folks.
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  • I went through the discussion, and I cross checked the information given by Invader. It is very accurate and I am a bit surprised too since some information that you mentioned is not in public domain but only know to people working in government circles or who works with RE Research firm like CRBE, Joneslanglasalle like myself. Invader I also understood the comparison you made to equity and in what sense you mentioned may be Metallica did not get that. The information you provided about splendour is also right regarding MMRDA. But no decision has been taken about it so far.

    Also if you read the arguments it is very clear that Invader is not comparing Kanjurmarg to powai and andheri. Comparing Kanjur marg to andheri and powai is like comparing powai/andheri to cuffe parade and colaba. Kanjurmarg is an upcoming area where if you see psf rates jumped from 1500 Rs in 2002 to 12000-13000 psf now. This information is from the database which RE firms like mine gets from registration offices. I think Invader only jumped into the discussion because Metallic made some comments about an area and backed it up by saying there are no shops etc which is definitely wrong. Kanjurmarg has the same kind of shops that you find across Mumbai.

    Now please Invader and Metallica do not answer to each other. Lets call it a truce. You both have given valuable information to all of us to take a valid decision.
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  • 5 posts deleted . Stick to the topic of discussion or expect infractions, suspensions & bans .


    Posts which r intended to Flame, insult, r off topic, r rude or meant to harass other members r not allowed .


    Please treat this as a warning .
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  • Apologies and Thanks to the Moderator . Metallica apologies to you too. Keep posting ..Thanks
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  • Poor planning by Lodha

    I recently moved in to a 2BHK at Elitis as a tenant after my owner confirmed that OC has been obtained (which I doubt now).

    Negatives:
    1. Poor planning with elevators: The elevator does not reach the ground floor i.e. the parking lot. If you are self driven, you always have to climb a floor to get to the lobby / lift. Elderly people might find it difficult to do it on a regular basis.
    2. The service lift starts only from 2nd floor. Nightmare while moving in. I think i lost a few kgs even after employing packers & movers
    3. Drainage system is pathetic: The plumbers have still not fixed the kitchen sink properly even after trying for a month. Similar issues across the bathrooms too.
    4. They have fitted with some 3 star rated A/c of Panasonic and the electricity bill clearly indicates it.
    5. You cant leave the balcony open due to dust from construction (other towers) during the day and mosquitoes in the night.
    6. Vodafone does not work properly inside the house with frequent call drops. Not sure if this is the same with other networks. If so, something is really wrong with the way they have constructed.

    Proximity to Eastern highway is the only positive about the place, for which I would not want to pay such a high premium. I'm already looking fwd to my lease expiring..... :( 11 more months to go.
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  • Originally Posted by realdigger
    I recently moved in to a 2BHK at Elitis as a tenant after my owner confirmed that OC has been obtained (which I doubt now).

    Negatives:
    1. Poor planning with elevators: The elevator does not reach the ground floor i.e. the parking lot. If you are self driven, you always have to climb a floor to get to the lobby / lift. Elderly people might find it difficult to do it on a regular basis.
    2. The service lift starts only from 2nd floor. Nightmare while moving in. I think i lost a few kgs even after employing packers & movers
    3. Drainage system is pathetic: The plumbers have still not fixed the kitchen sink properly even after trying for a month. Similar issues across the bathrooms too.
    4. They have fitted with some 3 star rated A/c of Panasonic and the electricity bill clearly indicates it.
    5. You cant leave the balcony open due to dust from construction (other towers) during the day and mosquitoes in the night.
    6. Vodafone does not work properly inside the house with frequent call drops. Not sure if this is the same with other networks. If so, something is really wrong with the way they have constructed.

    Proximity to Eastern highway is the only positive about the place, for which I would not want to pay such a high premium. I'm already looking fwd to my lease expiring..... :( 11 more months to go.


    Hahahaha...thats Lodha for you :)

    During late evening time when I pass by this Lodha Aurum on my way to EEH, I notice that almost all the Lodha flats are vacant...The only lights are in the staircase passage. The rest almost entire building is in darkness since a long time...for years now...To me this darkness symbolizes the dark future of this property bubble in Mumbai....dark and gloomy...no hopes...waiting to burst soon.. Very few flats are occupied (probably by the construction workers themselves)....So those construction workers are the real "monarchs" :D occupying the "island of luxury" called as Lodha Aurum or Grande or any other fancy name by Lodha :D

    You need not punish yourself for 11 months...Typically, you can end the lease with one month notice...Just check your lease agreement..
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  • Originally Posted by realdigger
    I recently moved in to a 2BHK at Elitis as a tenant after my owner confirmed that OC has been obtained (which I doubt now).

    Negatives:
    1. Poor planning with elevators: The elevator does not reach the ground floor i.e. the parking lot. If you are self driven, you always have to climb a floor to get to the lobby / lift. Elderly people might find it difficult to do it on a regular basis.
    2. The service lift starts only from 2nd floor. Nightmare while moving in. I think i lost a few kgs even after employing packers & movers
    3. Drainage system is pathetic: The plumbers have still not fixed the kitchen sink properly even after trying for a month. Similar issues across the bathrooms too.
    4. They have fitted with some 3 star rated A/c of Panasonic and the electricity bill clearly indicates it.
    5. You cant leave the balcony open due to dust from construction (other towers) during the day and mosquitoes in the night.
    6. Vodafone does not work properly inside the house with frequent call drops. Not sure if this is the same with other networks. If so, something is really wrong with the way they have constructed.

    Proximity to Eastern highway is the only positive about the place, for which I would not want to pay such a high premium. I'm already looking fwd to my lease expiring..... :( 11 more months to go.


    Welcome to the royal living by Lodha. This is how kings and queens live according to their marketing team.

    Recently saw a super-funny billboard by Lodha for the Fiorenza project. "Why watch Fashion TV when you can live it at Goregaon"
    If that does not bring a smile.. then what else can!
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  • I know some who stays in lodha thane and he is equally pissed off cos of what has been delivered to him. That project was delayed for a while and now the end product is falling short of expectationsssss. Sensors have become old and are not functioning properly and there are some issues with solar geysers too. ACs are 3 stars and a few more things. Buyers should check with people staying in existing lodha complexes to get a feel of what was promised and what has been delivered to buyers.
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  • Originally Posted by realdigger
    I recently moved in to a 2BHK at Elitis as a tenant after my owner confirmed that OC has been obtained (which I doubt now).

    ....


    Just curious,
    1. how much rent are you paying for 2BHK
    2. how much will be the current market price of it?
    3. How much is the maintainance?

    Want to understand 'net rental yield' of these properties.
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  • I am so amazed by the horrible reputation that this developer seems to have with his customers. Delays, hassled customers, poor quality work, shoddy final product, troubling customers with interest payments immly etc etc..you google lodhas and its all over the internet. Don't they realise the best advertisement they need is word of mouth by existing customers? Does the Management not realise its money better spent on handling and delivering on customer expectations rather than some silly huge ads of venice and italian models in designer homes (that might take ages to be built etc)!!

    If potential customers do not do their homework online and offline (in this age of internet where all info is so easily accessable) - then who is to blame ??? Lodhas..Nirmals...gawd !
    Cheers !
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  • Originally Posted by xredred
    Just curious,
    1. how much rent are you paying for 2BHK
    2. how much will be the current market price of it?
    3. How much is the maintainance?

    Want to understand 'net rental yield' of these properties.


    2BHK seems to be running arnd 25k to 27k. 2.5 BHK arnd 29k to 32k. No idea abt the maintenance or the market price. No interested in the market price either, since I dont intend to buy a Lodha property ever after my current experience.
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