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- Bad quality.. Too many issues.. No harm in having a look.. don't make any investment without really thinking about it.. My friend regretted investing..Originally Posted by sansunderGreetings members
It has been 5 months since the last bit of amazing investigative work by rabork82.
Just curious to know if there are any further updates on this project. One of my friends is a huge fan of this project given the comparative low rates and he beleives that all the problems we are hearing about there is short term and will easily get resolved if I am patient
I plan to drop in there next week and want to arm myself with some forum insights before being bombarded by their marketing people.
Thank in advance for your wisdom here
- Hi everyone,
Well this might be an old but real incident which happened during my interface with Royal Palms. I had purchased an office at
Royal Palms commercial building and was "promised" certain waivers in form of stamp duties & other commercial charges. But then then builder simply went over board with the possession dates and when asked for a refund was simply acting ignorant and arrogantly. The sales staff used to change every 3 months so had to repeat my case scenario to them every quarter. Finally, I had to approach a consumer court activist who in turn sent him a few notices and on the final notice did the builder finally budge, took notice and gave me a brief meeting. Finally he did give me an interest free refund ( after months of dilly dallying )after i pointed out the various discrepancies in the plan, the construction quality and also the vague promises that he was ranting about. Promises which were mere marketing gimmick.
The place is beautiful no doubt .. but the people behind the project are pathetic in terms of promise & product delivery. Plz do not buy anything there just on the basis of the beauty that u see ... ultimately u r paying for the product .. and the important but ignored criteria of "ownership" rather than the lease principle. Also, maintenance has to be factored.
They had promised subsidized electricity for the commercial project. I do not know if that has happened the way they had promised. Water ..a s i read in an earlier post can be sourced from 'powai lake .. well the fact is they dont own the lake so how can that be possible.
Also, last i was told BMC had no plans to lay water pipes to the area; RP is dependent only on boring water and bottled water. Also, i would like to know what happened to the shopping plaza which was being sold at discounted rates? Has it become functional as of yet?
What about the wave pool ? Or that has become a forgotten entity of the project?
No doubt they hire the worst of contractors as the reasonably good ones dont want to work with them due to price & payment issues. Also, the construction quality is shoddy ( thats still a very polite description ) and how can we forget the death of construction workers on the site due to collapse of a slab of one of the under construction exclusive villas. I wonder what would be the state of construction quality of normal buildings there.
During 2005 - 2006 most agents with whom i interacted didnt even wanted to deal in resale properties at RP. They seemed simply non liquid so it was real frustrating for buyers ( users or investors ).
Well, being an optimistic ... things might have changed there now.. but then again i guess its hoping against hope
Well, people plz do ur due diligence before buying.
- Originally Posted by monta_kWell, people plz do ur due diligence before
Why even consider buying. The Times of India adverts which show 50% disount over Goregaon properties already makes every1 smell fish. Nobody sells for cheap without a reason. In the harsh Mumbai RE market, whatever defies logic is fishy.CommentQuote0Flag
- verdict on buying at royal palms
Can anyone suggest .whether one should go ahead and book at royal palms or problems are still persisting..CommentQuote0Flag
- Issues are still there.. Once they are gone.. rate would be the market rate..Originally Posted by jayesh1582Can anyone suggest .whether one should go ahead and book at royal palms or problems are still persisting..CommentQuote0Flag
- I'm indebted to Royal Palms. When I read in the newspapers about Royal Palms offering flats at 4000 psf, I searched the net if it was a scam and this is how I came to know of this nice forum.CommentQuote0Flag
- Loan from SBI
Can anyone let me know if SBI has given loans to Emerald Isle I.
I have checked a property there and it seemed good.
When I queried, I understand the builder charges 1.5L for NOC.
Thank you for any help and info.CommentQuote0Flag
- Can you elaborate what "good" is ? I don't even want to start discussing the negativesCommentQuote0Flag
- There are no "sweet spots" in Mumbai RE market. If prices are relatively less in certain areas, it for the "reason". Just because property is available 4k/sq ft this doesnt mean its cheap..CommentQuote0Flag
- 1.5 lacs for NOC
i ve never heard any builder charge anything extra for NOC? is this the standard practice?CommentQuote0Flag
- Yes They do charge without doubtOriginally Posted by rembrantsi ve never heard any builder charge anything extra for NOC? is this the standard practice?CommentQuote0Flag
- No Issues in buying a resale property in Royal Palms
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.CommentQuote1Flag
- doubts clear
i am planning to buy a house in royal palms and i have an entire family. i hope it is safe for women and no problems with traveling at night.
any suggestions are welcome..CommentQuote0Flag
- Please read through the posts about Royal Palms.. Please do visit the place.. especially in the night and decide for yourself..Originally Posted by MinazSajani am planning to buy a house in royal palms and i have an entire family. i hope it is safe for women and no problems with traveling at night.
any suggestions are welcome..CommentQuote0Flag
- Originally Posted by vyerthI have gone to two banks (HDFC and IDBI) asking if they would grant me loan to buy in Royal palms and they have refused me loans. They say there are some legal hassles...
Is it that bad?
I dont know why those banks refused loans but i got a loan from State Bank of India and also Royal Palms have taken loan from same bank. There are no legal hassles. I have done registration too so govt is also involved.