Is anyone aware of this new pre-launch in Powai, Bhagtani Group's Bhagtani Serenity? Where is the exact location and what are the pre-launch rates? Is it worth investing here?
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  • Originally Posted by rohu01
    is it 18K psf on carpet area or on built up?


    I guess the way rates are quoted, it's got to be Super Built Up.
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  • One of my friend paid complete amount a couple of days back. He also got a good rate at Serenity. But now he is confused as one of the brokers told him that this project may not be launched for next 2 years as builder is collecting money to launch other projects without giving any final agreements on the money taken. Also my friend said that only 20 flats have been booked in last couple of months which is not as per the brokers and builders claims. Any new buyers? Btw have Gautam or Powai2013 got theie allotment letters?
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  • The buider has asked me and my friend to collect our allotment letters on saturday. The clause which suggests that they will pay up 15% interest should suffice. My friend who has booked the flat on 6th floor has seen some of his projecs in Santacruz and was quite satisfied.

    Regarding the brokers point of view, I would like to share one of my experience.. when i was looking out for a property for investment in Powai- Lake Homes, Nahar and Raheja i obviously talked to a lot of brokers. Only a few of them were promoting this Bhagtani project and one of them had some negative views and most had no clue about the project but now upon hearing that i have booked an apartment here at a very lucrative price, they have started approaching the builder to get empanelled as one of the selling agents. I guess i can draw 2 conclusions here:

    1) Its all pshychological and stems from the buyer perspective-Investor Vs. Actual user. Having interacted with me, the agent could certainly make out that this is a good product coming at a good price point and obviously the location is "Powai" which an icing on the cake.
    2) The builder has certainly not empanneled every broker and there could have been some tiffs that these agents would have had with these agents which could have led to some friction and negative publicity.

    I have seen agents talk bad about L&T due to their experience with their project in Parel and also the delayed launch of their project in Andheri(west). Its all about perception... and using one's rational sense.


    All of the above comes with a rider that this builder will definitely delay teh project by 12-18 months and i can tell you that he has told me atleast that we will be compensated for the delay(but not sure what he meant by which way). Moreover, the upcoming regulations will ensure that the builders deliver on time.

    W.r.t today's pricing, I was told that the builder has sold few flats above 8th floor for 11,500 psf with 50% down payment. I am also sure that his 1 BHK will be sold off after he launches it oficially..
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  • I was told that they will deduct the amount (average rental value*no of months delay) from the final few payments that we owe him.
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  • Originally Posted by gautam620
    I got my allotment letter yesterday. There is a clause in the letter to the effect that I can take back all my money with 15% interest if construction doesn't start in 9 months from the date of allotment. Not sure why the builder would put that in if he has no intention to start construction.

    Mate...I also went through the allotment letter. I posted a question that in how much time they will return the money from the date of demand being raised by me. I was given an answer that we dont mention it.

    So good luck to you for this sweet deal

    Moreover; if the builder is so honest to give you equivalent of rent; whats the harm in putting it in black and white?

    All tall promises....Krishaang is a live example in Powai itself.I got my allotment letter yesterday. There is a clause in the letter to the effect that I can take back all my money with 15% interest if construction doesn't start in 9 months from the date of allotment. Not sure why the builder would put that in if he has no intention to start construction.

    Mate...I also went through the allotment letter. I posted a question that in how much time they will return the money from the date of demand being raised by me. I was given an answer that we dont mention it.

    So good luck to you for this sweet deal

    Moreover; if the builder is so honest to give you equivalent of rent; whats the harm in putting it in black and white?

    All tall promises....Krishaang is a live example in Powai itself.
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  • One thing I found out about the location of the project from one of my relatives who live in powai. He mentioned that the land was owned by sharma or gupta, I don't remember exactly. But there have been plans for construction on that land for 6-8 years. So, they told me to not go for it until the land is officially transferred and the approvals are in place. I was told that even if I have to pay Rs 1000 more after 6 months, I will have peace of mind. Also, some folks told me that getting money back from the builder could again be a hassle. Some even mentioned that if the 15% clause is not written on a stamp paper then it has to validity. I am not sure of these rules, but advice people to do their own research.

    Another thing I was told is that if the builder has no approvals yet, asking 30 - 50% is very high. He should take a token of about 5 lacs or so and when the approvals in place then take 20 - 30% down.
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  • Just got to know the L&T Powai project is being launched at Rs 15000 psf tomorrow. The minimum area is around 950. The basic price for 1st floor flat is about Rs 1.6 cr (I also don't know how. Because 950x15000 should be less than Rs 1.5 cr). The total landing cost is around Rs 1.8 cr.
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  • Imfrn, where did you get that info? would like to get more details...
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  • I think it is very unwise to invest in this project given the fact that the builder has another project stranded for 6 years in vicinity.
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  • Originally Posted by alpha123
    the allotment letter also has grace period of + 6 months and is subject to "force majeure" so cant take the 15% interest clause too much for granted, but i agree with gautam's point, its all about how u assess it. No one is perfect. Also the builder is 48 years in the business, i dont think he will let himself down on anything, and thats y i have also invested with this builder.
    Also, if i tried to search for any complaints on consumer forums against this builder, i did not get any, that made me give a +1 to bhagtani group.



    +1 to you alpha123. You reminded me of force majeure.
    THe definition of force majeure was absolutely open ended and subjective. What is a force majeure for me might not be for someone else..
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  • Originally Posted by gautam620
    Originally Posted by investorRE


    Buddy... we can all be as skeptical as we want...

    There is always a risk involved in a pre launch project. I found the risk reward equation (given the attractive price) to be favorable given my circumstances.

    Everyone should do their due diligence and satisfy themselves before investing in any project. However, if you are going to wait for the perfect project with the perfect developer in the perfect location at the cheapest price, no such thing exists..

    BTW, show me any other builder who gives you in writing for a pre launch that they will refund your money (WITH interest) in case approvals do not come!


    Please read my intial post under this topic. I'm not saying the project will not be delivered. I too went to meet the builder with an intent to invest. I'm just arguing the risk adjusted returns which one would me if the project were to be delayed, even by one year.

    I understand the risks involved in any pre-launch; but is there any harm in being objective rather than subjective in the allotment letter?

    To your question on any builder refunding money; I must honestly confess that I'm relatively less experienced than you in real estate investments

    But as a layman
    1. who has reasonable understanding of enforceability of law, I would expect everything to be reflected in black and white, without subjetivity; that to properly stamped. and,

    2. as a finance professional; I would calculate my returns adjusted for the risks I take.

    And in this case, the above points stack up to barely give mid teen returns on investment!!

    But as a layman
    1. who has reasonable understanding of enforceability of law, I would expect everything to be reflected in black and white, without subjetivity; that to properly stamped. and,

    2. as a finance professional; I would calculate my returns adjusted for the risks I take.

    And in this case, the above points stack up to barely give mid teen returns on investment!!

    But as a layman
    1. who has reasonable understanding of enforceability of law, I would expect everything to be reflected in black and white, without subjetivity; that to properly stamped. and,

    2. as a finance professional; I would calculate my returns adjusted for the risks I take.

    And in this case, the above points stack up to barely give mid teen returns on investment!!
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  • Dear Gautam and Alpha 1, I have been reading all the points stated by the other contributors in the forum and while as we are already invested in the project, we could take a leaf from all the points mentioned by everybody including wildfire about the land. I guess we (and any other buyer who is here in the forum or is accessing the forum) should come together to form a group so that we can take up all these points with the builder (now or after few months when the CC is expected). Will make a lot of sense if many people go to the builder at the same time. I guess there are 3 of us in the forum + one of my friends that makes it 4. Would also request those who have booked through brokers to get the information of the other buyers(I believe that there are 40-50 others who have bought apartments here) if possible to strengthen the group.

    Gautam will speak to you regarding this. In any case, all the buyers can send me a PM so that we can get started on generating the database.

    Will speak to the builder about all the queries and viewpoints mentioned by other forum members when i meet him personally next week to collect my allotment letter and will keep you guys posted.
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  • Dear Rohu can you please share which project is stranded for 6 years..
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  • Originally Posted by lmfrz
    a broker called me and gave this info. c


    I received the following pricelist for the L&T project from one broker:

    2 BHK 635 carpet - Range – 1.6 to 1.75Cr.
    2 BHK 803 carpet - 2.03 Cr. to 2.25 Cr.
    2.5 BHK 993 - 2.45 Cr. to 2.70 Cr.
    3 BHK 1163 - 2.84 to 3.15Cr.
    3 BHK 1297 - 3.27 to 3.61 Cr.
    4 BHK 2190 – 6.7 Cr. 7.4 Cr
    4 BHK 2729 - - 8.3 Cr. to 9.18 Cr,

    Rs. 100 is the floor rise
    Powai lake views only for select 3BHKs and all 4 BHKs. Literally no view for 2 BHKs.

    I personally feel that this price is too high for Saki Vihar no matter what segment we talk about. Roughly works out to ~INR 30,000/sq. ft. on carpet compared to ~INR 13,500-14,000 for Serenity. I guess purchasing in Serenity has been a wise and prudent decision actually..
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