Hi Runwal Group has come up with a soft lauch of 'ELINA' at Saki Naka. With 9000 rs psft and 50 Rs floor rise , it looks quite tempting.As of now it is 10 Storey tower with gymnasium + landscaped garden

The property is in Mehra compound close to Saki Naka Junction. Though the entry to the project may raise concerns , two Gundecha towers, one in front & one is coming on the back side of Runwal Property + there is DSK Madhuban right opposite to Runwal Elina where construction is already completed.


Has anybody heard of this project.Any pros and cons on this ?


Regards
Ankit
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  • Originally Posted by Ankit1104
    Ajit ,

    Since you lived there, how bad was the noise disturbance from the nearby international airport?

    Ankit


    Once you close the windows you dont even realise you are staying near the airport. Even otherwise the noise is insignificant.

    Also congrats on your decision to book.
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  • Hi,
    I am little skeptical of new builders like runwal. Do you think they will complete the building? Also is the metro coming close to the tower? Also per consumer reports they seem to be fraud builders : http://www.consumercomplaints.in/complaints/property-pune-maharashtra-c365169.html

    Thank you !
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  • Originally Posted by donkeykong
    Hi,
    I am little skeptical of new builders like runwal. Do you think they will complete the building? Also is the metro coming close to the tower? Also per consumer reports they seem to be fraud builders : property - Runwal Group, Mumbai a Fraud be aware

    Thank you !


    Runwal builders are not new in mumbai realty market.Metro is 10 mins walk /800 m from the location.

    have seen the progress of there other projects in Mulund.
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  • Have booked two 2.5 BHKS in Runwal Elina. I hope this turns out to be a good decision.

    Cheers
    Ankit
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  • Originally Posted by Ankit1104
    Have booked two 2.5 BHKS in Runwal Elina. I hope this turns out to be a good decision.

    Cheers
    Ankit


    Surely will turn out to be a good decision. With 3 new projects and metro the place will surely change.

    Also when I was staying in Madhuban, there was word going around that the license for the bottleling plant at the corner is set to expire in 2013 and most probably it will not be renewed as the locality is turing into a residential one. Not sure how much substance in there but would prove a major boost as most of the trucks belong to this plant.

    Also the pipeline road behind madhuban is planned to be converted into 2 lane and act as an alternative to kurla-andheri link.

    Apart from the Metro; SCLR and new AGLR link to EEH all affect and improve the connectivity to this area.Should definately touch 15000 psf within 2 years.

    Also Ankit, is Runwal going to hike the price as neighbouring projects are selling at quite a premium or will it be vice versa?

    From my knowledge:
    Madhukosh (under construction) 12500
    Madhuban ( resale, ready possesion) 10500-11000
    Orbit (under construction) @10500-12000
    Gundecha - Yet to launch ( around 11000)

    Thanks,
    Ajit
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  • Hi Ajit , Thanks

    Runwal has told that the price is goin to be hiked probably by tomo or day after.

    Note : All 2 BHKS in A wing are sold out ( apart from C wing for which they are not taking the booking). Intially I planned for two 2 Bhks and after reaching there they told me that they just have 2.5/3 BHK units.

    As fas as Orbit goes , they are also out of 2BHKS and they have few 2.5 BHKS wich they are selling @12600.

    Though Gundecha is at 11000 now , I guess by the time Runwal will launch their last open C wing ( which they are yet to open the booking) they will increase the price to 10500 - 11000.

    Chances of lowering the price seems to be very low:).

    Regards
    Ankit
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  • From investment prespective does it make sense to buy a 2.5 or 3 bhk in this project ? Are 3 bhks not difficult to sell at higher rates , also point being this project has no amenities.. ?
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  • Does it make sense investing here 1.3Cr or keeping it in FD which gives returns of 9% p.a ?
    Property would be better only if rates exceed 14k in 3 years, but what is likelyhood of that with so many projects coming up in this area, the supply would be huge too..

    Your thoughts?
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  • FD will give you guaranteed returns and exceptional liquidity. RE investment may bring higher returns as fortune favours only the brave and not someone playing it safe. Having said that you must be able stomach the risk and be willing to suffer losses. Take a call on what you think is right and hold on to it
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  • Originally Posted by pickles
    Does it make sense investing here 1.3Cr or keeping it in FD which gives returns of 9% p.a ?
    Property would be better only if rates exceed 14k in 3 years, but what is likelyhood of that with so many projects coming up in this area, the supply would be huge too..

    Your thoughts?


    My thoughts:
    14000 is just a matter of time....it will be atleast 15000 within 3 yrs when the projects are near completion.

    The supply is miniscule wrt the demand in that area: ( some back of the envelope calc. below). Lets say ppl with 20-25 lakhs pa income are potential target for 1.3 - 1.5 cr range (6/7X the annual income)

    3 catchment areas:

    1. Andheri East and SEEPZ: Atleast 10000+ jobs with earning power 20-25
    lakhs ( combined family income may take this no. even higher)
    2. Powai: Atleast 2000+ jobs with earning power 20-25
    3. BKC: Atleast 15000+ jobs with 20-25 lakh earning power.
    4. Now consider the SME's/business ppl in this saki naka industrial area and they can afford anything ( I knew a family who had an apartment in Hindu Colony but preffered staying here to avoid commuting)
    5. Also we have not considered the 'metro' benefit which makes the central/western line so convinient to access that can draw many more to this area

    Thus here we are talking of a 30000+ population who has the potential and is always on the lookout...compare this to the supply...not even 500 with all
    six projects (orbit, madhuban, madhukosh,runwal and 2 from gundecha) combined.

    In city like Mumbai....demand will always be there at any price points..if ppl cant afford today, they will work harder to reach to the price. After all housing is a necessity!
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  • Can you please help me get the 20-25 lakh job which you are referring to? I can assure you i am highly qualified ;)

    Originally Posted by AjitAjit
    My thoughts:
    14000 is just a matter of time....it will be atleast 15000 within 3 yrs when the projects are near completion.

    The supply is miniscule wrt the demand in that area: ( some back of the envelope calc. below). Lets say ppl with 20-25 lakhs pa income are potential target for 1.3 - 1.5 cr range (6/7X the annual income)

    3 catchment areas:

    1. Andheri East and SEEPZ: Atleast 10000+ jobs with earning power 20-25
    lakhs ( combined family income may take this no. even higher)
    2. Powai: Atleast 2000+ jobs with earning power 20-25
    3. BKC: Atleast 15000+ jobs with 20-25 lakh earning power.
    4. Now consider the SME's/business ppl in this saki naka industrial area and they can afford anything ( I knew a family who had an apartment in Hindu Colony but preffered staying here to avoid commuting)
    5. Also we have not considered the 'metro' benefit which makes the central/western line so convinient to access that can draw many more to this area

    Thus here we are talking of a 30000+ population who has the potential and is always on the lookout...compare this to the supply...not even 500 with all
    six projects (orbit, madhuban, madhukosh,runwal and 2 from gundecha) combined.

    In city like Mumbai....demand will always be there at any price points..if ppl cant afford today, they will work harder to reach to the price. After all housing is a necessity!
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  • It is funny to see two diametrically opposite views of people in the forum. Those who have boght a property wants the price to double in 3 to 5 years and have many reasons whether logical or otherwise . Similarly those who have not bought any thing has scores of reasons on why property prices have already peaked and there is no scope for appreciation. The property prices are driven up by builders playing with these emotions of people regularly. Prices are micro market driven and relative to other bench mark locations. Prices are going up all these years with out much correction thanks to the limited supply and holding power of builders due to easy availability of black money . Black money in India may not disappear soon and corrections will be minor if any . However prices will correct if the supply is substantially increased by expediting project approvals of redevelopment SRA etc . This is some thing government can do .
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  • The reason for having an open forum is to discuss 2 opposite views, so please don't be amused if you continue to see different perceptions on other posts.
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  • Originally Posted by rohu01
    Can you please help me get the 20-25 lakh job which you are referring to? I can assure you i am highly qualified ;)


    20-25 lakhs is an assumption for a family where both husband and wife working.

    These days fresher engineers are getting placed at 3-5 lakhs. Someone 35+ with 10-12 years of experince easily brackets around 15-20. Here we are taking about highly qualified DINK's, IT ppl back from 3-4 yrs onsite and 8-10 yrs experienced professionals...
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  • I read somewhere that a down payment of 20% is needed for Runwal Elina.
    Is that true ?
    What is the payment plan.
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