Hi all,
I am interested in a 2 BHK in the Riverside Park project at Panvel. Builders are the Moraj group. They are quoting about Rs. 3000 psf. It is advertised as 33 building complex with all amenities and about 600 flats are already sold and occupied, as per the Site office staff.
Will anyone who has either purchased a flat in this complex or has visited it, please guide me on the viability, location, facilities, schools in the area and transport facilities.
Thanks!
Sunita
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  • Originally Posted by Sunita_Subramanian
    Hi all,
    I am interested in a 2 BHK in the Riverside Park project at Panvel. Builders are the Moraj group. They are quoting about Rs. 3000 psf. It is advertised as 33 building complex with all amenities and about 600 flats are already sold and occupied, as per the Site office staff.
    Will anyone who has either purchased a flat in this complex or has visited it, please guide me on the viability, location, facilities, schools in the area and transport facilities.
    Thanks!
    Sunita


    3000 psf in Panvel!!!!! This is absurd.
    Go buy somewhere in Pune or Ahemdabad. Atleast these are big cities.

    VK
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  • I agree, 3000 psf does seem to be on the higher side. They said that rate can be negotiated down to 2800 psf. Also said that for a 950 sq flat total costs, including parking etc should be approx 31 lacs. this seems high but then it is a big project.
    Am planning to visit the site and see for myself, have detailed financials and then think about it. Problem is, Panvel is so far off !!!
    I am also told that there are schoold like DAV, Ryan etc in Panvel, which is good.
    Thanks for you feedback.
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  • If you are planning to live there.. it is a different story...

    but for investment there atleast needs to be something happening there... why do u expect people to move there and buy at higher rates..

    VK
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  • Any idea what rent can we get if we let a new flat in Panvel in the Riverside project?
    Also, if I sell an existing flat after holding it for below 2 years, short term cap gains taxes are charged (30%). This is steep. But if the entore proceeds are put into another flat purchase, will tax still be levied?
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  • To the best of my knowledge if you buy a house from the proceeds of the sale in the same financial year you can avoid this tax.
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  • Hi Any development in Riverside? I am also planning a visit thr. Can u please update me.
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  • Hello,
    Can anyone provide a link to this project website? It will help to get some info on location etc.

    One reason why they are expensive now is most likely because of the "potential" international airport. Apparently the plans are underway but in reality who knows when it will be finished, right? Until then the builders are milking the cow for all they can..and then some more.
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  • That place is horrible in the evening

    I have been to the site. The rates are exorbitant. Additionally, the traffic is horrible in the evenings and you can see a dense smog on the skyline. Dont think its worth living there.
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  • Anyone who has bought a flat in this project?
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  • Originally Posted by Sunita_Subramanian
    Any idea what rent can we get if we let a new flat in Panvel in the Riverside project?
    Also, if I sell an existing flat after holding it for below 2 years, short term cap gains taxes are charged (30%). This is steep. But if the entore proceeds are put into another flat purchase, will tax still be levied?


    6000 to 7000 thousand per monath and 25 to 30000 deposit.
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  • If you put the entire proceeds in another property or NABARD bonds then you wont have to pay the short term gains tax.
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  • what is the current rate here? What is the plc for not facing the gadhi?
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  • Originally Posted by wadia
    what is the current rate here? What is the plc for not facing the gadhi?

    The current rate as on today is 5000 psf for the new bookings and 4800 to 5000 for the ready possesion from builder or resale
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  • Can any one tell me if people have started living here, and how is the experience
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