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Le Reve, Rustomjee Developers, Khar West, Mumbai

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Le Reve, Rustomjee Developers, Khar West, Mumbai

Last updated: June 23 2020
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  • Le Reve, Rustomjee Developers, Khar West, Mumbai

    Hi everyone there is this new project launched by rustomjee on ambedkar rd khar west called le reve,its got a great location just want to know if anyone has any info about the project regarding its completion time and price.Also hows the builder reputation as far as project completion is concerned.
  • #2

    #2

    Re : Le Reve, Rustomjee Developers, Khar West, Mumbai

    I have not heard about this project in particular but Rustomjee is an extremely highly reputed and ethical developer. I would have no problem in investing in any of his projects - but his projects usually command a substantial premium

    Would be good to get more info on this project but I would be surprised if pricing is lower than 25k psf..

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    • #3

      #3

      Re : Le Reve, Rustomjee Developers, Khar West, Mumbai

      Just checked - Basic price quoted is 43k psf on carpet - which works out to approx 28k psf on super built up...

      They have 2 BHK (854 carpet) and 3.5 BHK (1660 carpet) and possession is end 2015 / early 2016

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      • #4

        #4

        Re : Le Reve, Rustomjee Developers, Khar West, Mumbai

        The price that the builder was quoting till 1 month back was around Rs 45000/- on carpet. The general prevailing price in the area is around Rs 60000/- on carpet. The reason the builder is quoting at a discount is because this is a SRA project and the rehab building is just behind le reve. Also the apartments at the back side face the rehab building. The builder is highly reputed and the quality that he delivers is simply outstanding. The only issue is that at times his projects get delayed. So if you get a road facing apartment and if you are willing to wait a while, in my opinion it can be a good value investment.

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        • #5

          #5

          Re : Le Reve, Rustomjee Developers, Khar West, Mumbai

          SRA project. U will live in a good building with a vertical slum for a view. Disliked only for this reason. This is in partnership with the Lok Group. The other buildings have already been developed by Lok. I had seen a bareshell 2 bhk for a relative for 1.8 cr in 2009. Had rejected it for the above reasons. Pricing was fair back then. Same stuff is now 3.5 crs+

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          • #6

            #6

            Re : Le Reve, Rustomjee Developers, Khar West, Mumbai

            Originally posted by amitmk View Post
            SRA project. U will live in a good building with a vertical slum for a view. Disliked only for this reason. This is in partnership with the Lok Group. The other buildings have already been developed by Lok. I had seen a bareshell 2 bhk for a relative for 1.8 cr in 2009. Had rejected it for the above reasons. Pricing was fair back then. Same stuff is now 3.5 crs+
            1.8cr in 2009.....but amit are you sure about the partnership cause i think its solely by rustomjee ,well as for the price of 3.5 cr for 2 bhk,it defi is steep so don't knw is it a good buy or not....i was planning to sell my flat and then pick this one up but i am honestly confused.its difficult to judge the correct price of the property nowadays with the volatile market and these builders quoting whatever they feel like.But i did like the location of the project.Need some advice here....

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            • #7

              #7

              Re : Le Reve, Rustomjee Developers, Khar West, Mumbai

              Vikicmd,while this is a partnership project between Rustomjee and Lok, you don't have to deal with Lok at all..so that takes care of your Ist concern. Now,the average price of an apartment in premium locations of Bandra/Khar is roughly around Rs 2 crores(give or take a few lakhs) /per room. So by that benchmark the project pricing looks ok. In fact the reason you are getting it at a discount, is that today that location is not considered premium due to the surrounding slums(which will eventually go) and also because Lok has done a somewhat shoddy job with his projects on the adjoining plots and also since this is a SRA Project.
              Bottom line is I think this could be a good buy like i mentioned earlier if you get a road facing unit. Also pl remember that as micro marketBandra/Khar is today unique in Mumbai as there is hardly any supply and there is consistent trickling demand due its strategic location and good social infrastructure.
              P.S In 2006 I had purchased an apartment very close to the Rustomjee project for Rs 8500 per sq ft which I thought was very high at that time!
              Last edited January 20 2013, 02:56 PM.

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              • #8

                #8

                Re : Le Reve, Rustomjee Developers, Khar West, Mumbai

                How has the Rustomjee Le Reve turned out for existing buyers? What are the retail rates?

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