Hello there!

After looking around for projects in Goregaon stretch and realizing that I may not find an option in my budget (1.4 Cr). I have zeroed in on Royal Oasis in Charkop. This project is in advanced stages of construction (18 floors of 20 odd completed and internal work until 10th flr completed). Sales guys told me that posession will be in next six months.

Seen completed flats in the buildings lower floors, finishes seem to be satisfactory to pretty good. I had seen the same builder complete another project in Malad West in good time (that is how I came to know of this builder/project). They are quoting about 1.35 Cr for a 2 BHK with 600 carpet (with clear indication that negotiation is possible). Project has all amenities and located next to Billa Bong school.

There are few other projects in advanced stage in the same locality (Dharti Pressidio lower priced & not great; one Kamla Group project that looks ready).

Here are my questions
- Any view on the locality, to me it seemed decent. Beyond this project (on a parallel road) there is a existing Bhoomi project and Gurukrupa project that is under construction.
- Any view on appreciation potential and the current price.

Will be great get some view from folks familiar with the area and if anyone has seen this project.
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  • Originally Posted by TN Guy
    Hello there!

    After looking around for projects in Goregaon stretch and realizing that I may not find an option in my budget (1.4 Cr). I have zeroed in on Royal Oasis in Charkop. This project is in advanced stages of construction (18 floors of 20 odd completed and internal work until 10th flr completed). Sales guys told me that posession will be in next six months.

    Seen completed flats in the buildings lower floors, finishes seem to be satisfactory to pretty good. I had seen the same builder complete another project in Malad West in good time (that is how I came to know of this builder/project). They are quoting about 1.35 Cr for a 2 BHK with 600 carpet (with clear indication that negotiation is possible). Project has all amenities and located next to Billa Bong school.

    There are few other projects in advanced stage in the same locality (Dharti Pressidio lower priced & not great; one Kamla Group project that looks ready).

    Here are my questions
    - Any view on the locality, to me it seemed decent. Beyond this project (on a parallel road) there is a existing Bhoomi project and Gurukrupa project that is under construction.
    - Any view on appreciation potential and the current price.

    Will be great get some view from folks familiar with the area and if anyone has seen this project.


    Even if u do a deal, don't agree for 80-90% payment, jusy pay 20% and rest on OC possession...
    As delay risk is very high post these stages..and You will keep paying on pre-emi plus rent for the next1-2yrs...
    Remember builder will never complete building till 80-90% inventory is sold and you don't want to get stuck in between in this market
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  • Originally Posted by Consumer890


    Even if u do a deal, don't agree for 80-90% payment, jusy pay 20% and rest on OC possession...
    As delay risk is very high post these stages..and You will keep paying on pre-emi plus rent for the next1-2yrs...
    Remember builder will never complete building till 80-90% inventory is sold and you don't want to get stuck in between in this market


    Thanks for the advice Consumer890. Not sure if there is a subvention option offered, will defnitely check.
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  • Originally Posted by TN Guy


    Thanks for the advice Consumer890. Not sure if there is a subvention option offered, will defnitely check.


    If builder is genuine and is going to handover within six months, subvention is not required, that's the catch.
    See builders collect 90% payment showing completion of slab and initiation of internal work, and then sit-out with money for next 1-2yr as for next 10% they have to spend probably more, and if more inventory is remaining, he will never complete as building will tend to get old once completed and value will start depreciating...
    If he plans to delay, he will ask for higher rate...
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  • Originally Posted by Consumer890


    If builder is genuine and is going to handover within six months, subvention is not required, that's the catch.
    See builders collect 90% payment showing completion of slab and initiation of internal work, and then sit-out with money for next 1-2yr as for next 10% they have to spend probably more, and if more inventory is remaining, he will never complete as building will tend to get old once completed and value will start depreciating...
    If he plans to delay, he will ask for higher rate...


    That kind of deal seems unlikely. Typically that is offered for a short period to generate some booiings at the early stages of development or if slaes are not happening. Why will a builder complete 80% work but take only 20% of the flat cost.
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  • Sales guy called to say they will roll out a promotional offer in a week. Some box pricing offer that will reduce the all inclusive cost. Refused to provide any specific details, but just said details will be out soon.

    So any inputs about the locality would help me take a call on the project. Do provide your thoughts.
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  • Like promised the builders have launched a promotional scheme for limited units - box price of 1.2 Cr for smaller unit and 1.35 Cr for bigger apartment. There may be some 3-5 lakhs at time of possession (basically the posession rleated charges are excluded from box pirice). To me this makes it very attractive. Could someone provide thier inputs on the area and the pricing please. Thanks in advance.
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  • @TN Guy
    I visited the royal Oasis project this month and was offered a 2 BHK on the 16th floor for 1.47 Cr.

    The builder says that the lower floors with west facing flats have been sold out, and 16th is a little out of my budget.

    Could you help me with a few queries:

      How is the builder reputation?
      Did you book one for yourself?
      On what floor and price?
      Did the builder agree to a part payments structure?







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  • * ahfazs

    - I have seen a 15 odd storey building by the same builder (Royal Saphire) near my current residence come up very quickly. My exposure to this builder has been only through that project.
    - I did not end up booking in Royal Oasis.
    - I interacted with the folks in Sales office, my dicsussion did not proceed far enough for me to have a face to face with builder / Mgmt representative.
    - I had met the builder for the other project couple of years back and at that time builder was flexible in structuring the deal, seemed reasonable as well.
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  • Originally Posted by TN Guy
    * ahfazs

    - I have seen a 15 odd storey building by the same builder (Royal Saphire) near my current residence come up very quickly. My exposure to this builder has been only through that project.
    - I did not end up booking in Royal Oasis.
    - I interacted with the folks in Sales office, my dicsussion did not proceed far enough for me to have a face to face with builder / Mgmt representative.
    - I had met the builder for the other project couple of years back and at that time builder was flexible in structuring the deal, seemed reasonable as well.


    Hi
    TNGuy..
    I am looking for a flat for self use and has been through few projects around Jankalyan Nagar Malad east includes dong this one.

    You have stated that you didn’t book in this project.. would appreciate if you could tell about the reason.. is there any issue?

    Also in which project that you finally buy?
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