Heard the market condition is very bad, DB Realty is heard to offer 11500 per sft +50 floor rise for almost completed project Orchid woods. Anywbody had heard this?
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  • DB woods - Issue is that Flats are overpriced and Monthly maintenance too high compared to amenities being offered.

    Since JLL is Property Manager maintaining the complex they are charging around 10-12/- Rs psf as maintenance. So for 3 BHK it translates to around 25000/- pm minimum.

    Though not fully occupied as yet, Still dependent on Tankers for water supply. Open spaces are limited. Small Kids area in the open though they have some indoor games etc.

    If still you want to go for it, bargain hard as lot of investor flats available.
  • Haven't checked this property since many months, but for a higher budget would recommend any of the Oberoi properties in the vicinity next to Oberoi Mall. Woods (in the same range as DB but smaller), Exquisite (Way more expensive but many notches better from all perspectives as compared to DB & ready to move in). Esquire - Under const & slightly cheaper than exquisite, for the lowest config.
  • @contactbrij @aarem7 thanks a lot for your inputs! Really appreciate them!
    25k per month is too high! and the water supply issues! Thanks for letting me know about this.

    @aarem7 The reason I was considering DB is that I was getting a good deal on it. Oberoi will be around 4Cr and that is out of my budget.
    • nidhi141 years ago
      @bj1984.. I am also looking for property here..may I knw what price you are getting 3BHK?

      @contactbrij- thank you for insight, I also noticed that Gas pipeline is not there. I was not aware abt water problem.

      Any other suggestion for 3BHK in near by vicinity for total budget ob/w 2.5 to 3 cr.
  • I am interested to know the problem area in society..like small open space, water issues, Gas pipeline? What else which people living there are facing?
    • bj19841 years ago
      @nidhi14, I am seeing prices in the range of 3.10-3.25 for 3BHK. Other options in the area are limited with Oberios which are not in my budget. Other option is JP decks but I am hearing the builder has jacked up the price and the possession which was ideally mid of 2016 is now said to dec of 2017, but not sure if this would happen.

      Let me know all the shortcomings of DB? I am considering this property mainly because of proximity to schools.
  • Hi can someone give me idea which is better between Omkar Altamonte, DB woods , Raheja Residency? Appreciate your feedback.
    • KK00991 years ago
      Raheja Residency is freehold land so scores better than Omkar Altamonte (Leashold / SRA)
      Raheja much better brand than DB so scores better than both other options you have mentioned.
  • @KK0099 thanks for feedback; from specific project perspective, Raheja Residency has no amenities and connectivity for DB woods and Omkar is better.
  • My only 2 cents would be, be very sure with DB & Omkar, you can check this thread's history & there's another thread on Omkar & then make your decision..
    • kumar19001 years ago
      Even I visited the property and got to know about the higH maintenance. I also heard about the auctioned flats by some banks which went for less than 3 cr.
  • Hi all , DB woods ahve erecived OC and society is formed too, is it still a risky to buy for self use. I visited this propety agter 3 months and lots of chnages in terms of maintenance of propoerty has been done. Does any one know any near by play ground/park for kids near DB woods, as there is no cycling spcae fo kids in DB woods and no walking path.
  • Don't understand the logic of paying such high maintenance for DB Woods given the limited open spaces - no place for kids to cycle, small play area at the remote corner, more indoor space than outdoor.

    Mumbai Mirror | Updated: Dec 13, 2017, 05.11 AM IST

    DB Woods project at Goregaon

    Borivali metropolitan magistrate also issues warrants against six other officials of the group; Order comes on home buyer’s complaint of carpet area fraud.

    The Borivali Metropolitan Magistrate has issued bailable arrest warrants against DB Realty founder Vinod Goenka and six others associated with the group directing them to appear before the court on January 25, 2018. They allegedly committed a carpet area fraud and offences under Maharashtra Ownership of Flats Act (MOFA).

    The arrest warrants were issued last week after the court rejected an application from Goenka and others for permanent exemption from appearance under section 205 of the Criminal Procedure Code in connection with a complaint filed by home buyer Manish Agarwal. Agarwal alleged that he was given a lower carpet area flat in DB Woods project at Goregaon in 2008.

    The project was initiated by Gokuldham Real Estate Development Company Pvt Ltd, a subsidiary of DB Realty. It later merged with DB Realty on October 16, 2015.

    Agarwal alleged in his complaint that Gokuldham Real Estate Development Pvt Ltd had agreed to sell him flat number 3303 in A wing of the project admeasuring carpet area of 1254.75 sq ft for a sum of Rs 2.01 crore. But the information he obtained under RTI from the BMC showed it had an area of 984.36 sq ft. Also, the developer had promised the possession of the flat before June 30, 2011, but it was delayed by four years. He had filed a complaint with district deputy registrar, the competent authority under MOFA, alleging violations of section 5 of the MOFA.

    During the hearings before the competent authority, DB Realty denied any violation of section 5 of MOFA, and cited non-availability of sand due to a sand-mining ban which was lifted only in 2014, delay in approvals from authorities, and by contractors for the delay. The developer also attributed mala fide intentions in Agarwal’s complaint stating that none of the other 629 flat owners in the project had complained of MOFA violations...

    In his September 16, 2016 order, the competent authority – district deputy registrar NR Nikam – ruled that DB Realty had violated section 5 of MOFA which requires the promoter to maintain a separate account to be used for funding the under-construction project, and disclose all transactions under Rule 10 which DB Realty has failed to comply and convicted them under section 5 of MOFA.

    Agarwal then filed a criminal complaint with the Metropolitan Magistrate 67th Court, Borivali, for alleged offences under section 420 of IPC, and various MOFA provisions. The court, on the basis of conviction under MOFA, issued summons for appearance in February 2017. DB Realty moved the Sessions Court but it upheld the Borivali court’s order. When the developer sought exemption from personal appearance, the court rejected it and issued bailable arrest warrants for Rs 15,000 each against the seven accused asking them to appear on January 25, 2018.

    When contacted, advocate Shailendra Mishra, representing DB Realty, countered Agarwal’s claims. “Manish Agarwal has had no transaction with DB Realty. He had booked the flat from Gokuldham Real Estate Development Company Pvt Ltd, which merged with DB Realty in 2015 as per High Court’s order. Therefore, no criminal liability transfers except civil liability upon DB Realty vis-a-vis the flat,” Mishra said.

    He said honouring civil liability, DB Realty had asked Agarwal to take possession of the flat which he refused on various grounds and instead moved the National Consumer Disputes Redressal Commission seeking a compensation of Rs 9 crore although his investment is much less.

    “DB Realty states on record that Agarwal’s claim of lower carpet area is false. He had also filed a police complaint following which the police offered to verify the carpet area by bringing his architect, but he didn’t agree,” Mishra said.

    When contacted, Agarwal’s lawyer Saikumar Pathrudu said, “DB Realty’s claims are false and without any substance. They had made all these claims before the Sessions Court which rejected their revision application and upheld the Borivali’s court’s order.”