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Riverside Park Moraj Group Panvel Mumbai

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Riverside Park Moraj Group Panvel Mumbai

Last updated: March 27 2013
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  • Riverside Park Moraj Group Panvel Mumbai

    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
  • #2

    #2

    Re : Riverside Park Moraj Group Panvel Mumbai

    Originally posted by Sunita_Subramanian View Post
    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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    • #3

      #3

      Re : Riverside Park Moraj Group Panvel Mumbai

      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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      • #4

        #4

        Re : Riverside Park Moraj Group Panvel Mumbai

        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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        • #5

          #5

          Re : Riverside Park Moraj Group Panvel Mumbai

          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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          • #6

            #6

            Re : Riverside Park Moraj Group Panvel Mumbai

            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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            • #7

              #7

              Re : Riverside Park Moraj Group Panvel Mumbai

              Hi Any development in Riverside? I am also planning a visit thr. Can u please update me.

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              • #8

                #8

                Re : Riverside Park Moraj Group Panvel Mumbai

                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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                • #9

                  #9

                  Re : Riverside Park Moraj Group Panvel Mumbai

                  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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                  • #10

                    #10

                    Re : Riverside Park Moraj Group Panvel Mumbai

                    Anyone who has bought a flat in this project?

                    Comment

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