Hello members,

Heard that Godrej properties are coming up with a new project in Chembur in Mumbai named Godrej Central

Any one has further information on this project, please share
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  • Hey everyone - just registered today but have been following this thread for a few days now. I am looking to invest in the CHEMBUR area and Godrej Central (Tilak Nagar) sounds like a viable option.

    Has the project been launched already and has the buying group been formed? Any details and info would be much appreciated!

    Thanks!
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  • Hi dazzler,
    The project has yet to launch but is around t corner as per godrej nd brokers...I don't know if any buying group still exists as such.. I'm looking to buy in this project also during pre launch...So ya I mean if we have a few serious people involved we could probably form a group and im in...

    Thanks...
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  • Thank you Samsubscribe...

    I am studying other options too but am very interested in this project too so do let me know if and when you hear anything - we could then study this investment option again but with numbers on the table :-)

    Btw, what is your opinion on the Hubtown Vedant in SION? I don't have the current price but it also seems like a good option...

    Cheers!
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  • Originally Posted by samsubscribe
    Hi dazzler,
    The project has yet to launch but is around t corner as per godrej nd brokers...I don't know if any buying group still exists as such.. I'm looking to buy in this project also during pre launch...So ya I mean if we have a few serious people involved we could probably form a group and im in...

    Thanks...


    It's been round the corner for last 6 months!
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  • Originally Posted by Hasmukh
    It's been round the corner for last 6 months!


    True...But cant do much but go by what they say..
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  • Guys,

    On calling these people got to know that this is leasehold land (for 99 or 100 yrs) from MHADA..Could someone throw light on the implications of this? For all i know leasehold has to be lower priced compared to a freehold property.
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  • I am not sure of the implications but my understanding is that even for all SRA projects, the land is leasehold land with 30 years lease validity.
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  • If its leasehold...... my interest in the project will dwindle significantly.
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  • Just spoke to a contact...Atleast 2 month delay...
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  • Would they be able to launch in 2013. what is the reason for delay is it all approvals not in hand or is there a problem with some of the original residents not moving out as happens in a lot of redevelopment projects.

    anyone able to throw light on reasons for launch delay



    Originally Posted by samsubscribe
    Just spoke to a contact...Atleast 2 month delay...
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  • Originally Posted by samsubscribe
    Guys,

    On calling these people got to know that this is leasehold land (for 99 or 100 yrs) from MHADA..Could someone throw light on the implications of this? For all i know leasehold has to be lower priced compared to a freehold property.


    Most of the land in India (mumbai included) is on lease-hold - In Mumbai the original owners are either govt., BMC or MHADA or CIDCO or even in some cases Central govt, govt of other states, air force, navy etc etc - few acres of land is owned by Parsi comunity or local folks like Godrej, Tata, Adivasis etc

    Structure (industrial or residential) on lease-hold land doesn't make any difference to user or tenant except one can't make any use of land changes w/o written approval of owner...previously the lease-hold was for 99 yrs (Mahalaxmi Race course) but in Navi Mumbai everything is on lease-hold for not more than 30 yrs...

    Tenant or user of lease-hold needs to make nominal property tax each year to owner...few hundred rupees to be precise (max).

    If one doesn't change of use of lease-hold land then the extension of lease-hold is automatic.

    all MHADA colonies are on lease-hold from MHADA to the CHS...has that prevented them going for re-development etc...

    so lease hold shudn't be the reason to not look for a property..

    regards
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  • My guess is they r holding onto t launch as the market is very weak...that is my guess as I doubt Godrej is too dumb to say that they wud launch in Jan/Feb 2013 and nothing hasnt happened till date...As per most recent conversation it is Sep/Oct 2013 but again not sure how much reliable...But if people have better updates plz do keep us posted...
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  • Godrej & Oberois are the ones who enjoy good brand equity - Godrej will not launch anything untill all approvals and clearances are recieved - good from buyer prespective.

    better late than never!!
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  • I would be interested in this one .. could you pls include me in the "group buy" group ... I dont wanna give my personal details here .. as its against the rules I guess .. how do I join this grp ..
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  • Hi all,

    Count me in as well in the "group buy" plan.
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