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- he saying to pay 30% as downpayment and rate will be 4200/-.... but they can not confirm the possetion timeCommentQuote0Flag
- overall cost is 33lak including everything....CommentQuote0Flag
- Ok... do u know when builder gives the possesion of the flatCommentQuote0Flag
- Originally Posted by alpha1235 years from now*
" * " is to be noted ;)
What u think is it good investmentCommentQuote0Flag
- Thanks yar.... :)CommentQuote0Flag
- In which floor you booked flat ??????CommentQuote0Flag
- has any1 looked the land/plot where it is going to be constructed? it has a half small mountain, a studio in between, a BMC school just sticking behind it. not sure how they gonna stand 14 wings in such a small plot. Let me know if some1 agrees/disagrees.CommentQuote0Flag
- Ya i saw this plot but builder says possesion will take around 5 year.....
and they are not sure when work will start
Thats y i will not book a flatCommentQuote0Flag
- Agreed, I am having the same apprehension, that the plot is too small to stand 14 buildings in. Plus, the builder is planning other amenities within the same area, wonder how he is going to squish all that in...Originally Posted by anshulmhas any1 looked the land/plot where it is going to be constructed? it has a half small mountain, a studio in between, a BMC school just sticking behind it. not sure how they gonna stand 14 wings in such a small plot. Let me know if some1 agrees/disagrees.CommentQuote0Flag
- They are giving photocopies of your check for the 30% down payment. I had booked in early January and am still awaiting the allotment letter.Originally Posted by ashishpatnaThose who have booked please let me know what they are giving in receipt for 30% down payment via cheque. And when they are going to give the allotment letter.
I am also in a mood to zero down this project already inquired with builder rate quoted is around 4200-4500 depending upon flats, Most flats are available in wing 1 2 3 4 , I think they have been launched later.
Any comments on rates on which who have bookedCommentQuote1Flag
- So Friends is it good place to purchase flatCommentQuote0Flag
- I would rather refrain from investing in this project. This project is only on papers with no land yet acquired and is still in the finalization stages. I think construction would not start anytime soon and if at all than maybe after couple of years.
The project has total saleable area of c5 lac sq ft and my sources say builder has already sold c1 lac sq ft in pre-launch scheme offering average rates of c4,200 / sq ft for a 30% dp. Current cost of FSI in mira road is c3,000 - 3,500/ sq ft and construction cost today is 2,000-2,500 / sq ft. Conservatively i assume cost today to be c5,000 / sq ft without considering many other indirect costs in terms of getting approvals etc. Importantly, no builder would sell even a sq ft of area at a loss even in pre-launch phase. The most they offer is to sell at cost price but that too for a very limited flats. What is surprising is the fact that pre-launch rates are still applicable even after couple of months and selling a good 20% of inventory.
I think builder is offering a refund alongwith interest 15% pa incase of delays. I think more of this as a ponzi scheme where you sell flats at very low rates and fail to deliver but offer a meagre 15% interest and milk money from common man's hard earned money.
It's your decision but you really have to be careful in these type of projects and the best i guess one can expect is a 15% return...that too in real estateCommentQuote2Flag
- Originally Posted by gautam620Given the current state of the real estate industry, a 15% per annum return sounds pretty good to me
I completely disagree when you can earn c9-10% on Fixed deposits which are almost risk free. Moreover, there are many other far better oppurtunities than earning a 15% in RiyoCommentQuote0Flag
- Originally Posted by gautam620I dont know anything about this Riyo project so I cannot comment.
But please do educate us on those fantastic opportunities where I can earn a guaranteed 15% return per year?
If you know nothing about Riyo project then i think better not to comment in Riyo thread.
Please keep reading this forum for fantastic oppurtunities...i am sure you will find something worth investing though it all depends on your ticket size, time horizon alongwith ability and willingness to take risk.CommentQuote0Flag
- I never know JC is such a great reputed builder from last 48 years but thought they were in this biz from last 4-5 decades...maybe i am wrong. Btw it still remains to be seen how the two young sons shape their inherited father's business.
Yes in my view this project is crap. I know of no other builder offering rates of c4,200 / sq ft in mira road under the pre-launch scheme.CommentQuote0Flag