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Arrow City Manhattan, Arrow Group, Pen, Mumbai

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Arrow City Manhattan, Arrow Group, Pen, Mumbai

Last updated: January 10 2018
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  • Arrow City Manhattan, Arrow Group, Pen, Mumbai

    I am contemplating to buy a plot in City Manhattan, an integrated township in Pen city. It is promoted by Arrow Group. It has reliance sez near by. The international airport and upcoming Sea bridge are also near.

    The quoated price is 3000Rs per sq yards. I want to take a 250 sq yrds plot. I am thinking about a 5 years time horizon. Probably, I will sell or construct a house to stay.

    Please express your views about this investment. Is it a good option to buy or should I let it go?? Does this area have potential to grow in future????
    Last edited January 3 2008, 11:48 PM.
  • #2

    #2

    Re : Arrow City Manhattan, Arrow Group, Pen, Mumbai

    Had been to the site location a few days back. No construction activity at all. Plots will not be alloted immediately inspite of paying booking amount. Plot posession promised only after two years. Why should fencing and a basic road take two years?

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    • #3

      #3

      Re : Arrow City Manhattan, Arrow Group, Pen, Mumbai

      Pune Rental thanks for the information and clarification. I can understand the delay and formalities to be completed about the possesion and registration, BUT why the delay in allotment? Why no buyer seller agreement for six months inspite of paying booking amount now? Why no layout or choice of plots available even after six months of Bhoomipujan? In the absence of layout or allotment the same land can be sold to inumerable people without anybody knowing which land they have booked or are going to be alloted? Since there is no contruction activity the land may remain in the same condition for months or years. And in the absence of contract we will be at the mercy of the Company.

      Please do not misunderstand me. I am very much intrested in buying a plot in this project hence I took the trouble to visit the site and talk to the people concerned. But my above doubts have not been answered satisfactorily.

      I would be glad if you could kindly shed some light on the above. Thank you in advance.

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      • #4

        #4

        Re : Arrow City Manhattan, Arrow Group, Pen, Mumbai

        Mr. Vijay Gupta thanks for the information and clarification. What would be the price per sqyard if booked in March/April when the layout/allotment details will be available.
        Last edited March 4 2008, 12:31 PM.

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        • #5

          #5

          Re : Arrow City Manhattan, Arrow Group, Pen, Mumbai

          Hi,

          In the map PEN city is shown separate from City Manhattan. Are these different projects from the same builder or both the names refer to the same project?

          The builder price is 2999/- What is the curent market price going on?

          -Saurabh

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          • #6

            #6

            Re : Arrow City Manhattan, Arrow Group, Pen, Mumbai

            Read fine print

            As always, one also needs to read the fine print. The application form states conditions like:
            1. "pro-rata allotment in case of oversubscription" (this is not an IPO. Hence, oversubscription is possible only when the company will continue to sell even when it has sold out all plots!)
            2. host of conditions which restrict the buyer rights in case of non-delivery / delays on the part of the developer
            3. the developer has sole discretion to allot any plot!

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            • #7

              #7

              Re : Arrow City Manhattan, Arrow Group, Pen, Mumbai

              city manhattan pen

              Hi All,

              While browsing the net I came across this discussion on city manhattan - panvel.

              Just to let you'll know, that I have visited the site in early Jan'2008 & I too met that shady manager at the hotel. When I went to the site, all I saw was a sign board saying city manhattan project. I am dealing with Mr Sabarwal (From Real estate Mgt - Delhi).

              All said & done, I think this project will materliaise. It just that the Airport & the entire area has to get clear government approvals before anything commences.

              I purchased 2 plots (only booking amount paid): one 200sq yrds & one 500sq yards @1999/- in August'2007. So, that why I was browsing the net for any status or discussions on the same.

              If you are patient, invest in this project. After 3 years from now, you will see a change in the entire landscape of Panvel & demamd from it. Feel assured from the appreciation it has already made.

              It's just like RPL share, "accumulate, wait & watch".

              Hope that I am right & do not get surprised being doomed.

              Cheers

              LDDF.

              Comment

              • #8

                #8

                Re : Arrow City Manhattan, Arrow Group, Pen, Mumbai

                No Clarity in Deals

                Hello,

                There is a marketing campaign going on in news papers.

                I have been to the office of this company on 30th December 2008. Managed by 3-4 younge passout collage students type persons, not sure about many stuff. Office is located in a stinky industrial unit.

                They told that at the site, work is going on and plots are not yet marked. It would take 16 months.

                Rates quoted were already offer Rs. 500 per sq yard less then quoted website rates, further open to negotiations.

                Right now it would issue receipt for advance to be paid.

                After one month buyer seller agreement would take place, but it would not be registered. It would be only notarized. They do not have the draft content of this document ready, which could give any comfort, how do I secure my rights.

                This land is in name of developers. So till the date it get registered in my name and 7/12 gets registered, my rights are in hands of developers.

                Also, it is confirmed by these sales boys that this business group is not having any bearing of the well known "Malhotra Group" - Maker of Topaz blade and engineering units having head office opposite to CST station (an old reputed business group). Yes, their grand parents were related.

                After my request for showing all legal documents which I can get verified with my attorney, these people lost interest in discussion with me. I am following up with them to proceed for deal, but they are showing as they are not much interested in selling me.

                I already contacted my attorney, he told me that he would visit with me to their office, once I get these basic documents in hand. If developer is not having interest in sharing them, things are not fine.

                Best regards,

                RajIndiaWorld

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                • #9

                  #9

                  Re : Arrow City Manhattan, Arrow Group, Pen, Mumbai

                  arrow city manhattan

                  visited the arrow city manhattan site last week. no construction as yet. they said the sample flat would be ready in a month. also told us that 2000 plots out of 2700 were already booked. would like to know the thoughts of the members in this forum about this.

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                  • #10

                    #10

                    Re : Arrow City Manhattan, Arrow Group, Pen, Mumbai

                    There is a media ad blitz by the company, but the ads are all malicious.

                    in the ad the claim the Panvel airport has got clearance and will be operational by 2013. - NO clearance has been given yet for construction of the airport. it is still in process.
                    They make many such other claims like Metro, Transharbor link . They are making people believe that govt "proposals" have been given green signal and infrastructure will be ready within 2 years.
                    Going ONLY on the basis of the false advertising , I would advise others to be careful.

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