Guys,

Anyone have any idea about the Octa Crest project in Kandivali.?

WOuld like to know about construction quality, posession and if the rate of 6100 psf is justified.

-N
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  • wasnt it 6000 per sqfeet in jan 2010

    you guys are missing the point wasnt the same builder advertising for 6000 in jan 2010 and in 1 month what on earth happened for him to jack up the price by 500 rs that too per sqfeet .nobody is encouraging the builder more than people who are willing to buy it at 6500 and pretty soon it is going to be 7000 and in june 2010 it will be 7500 . that is how realty sector is
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  • Originally Posted by boldm28
    you guys are missing the point wasnt the same builder advertising for 6000 in jan 2010 and in 1 month what on earth happened for him to jack up the price by 500 rs that too per sqfeet .nobody is encouraging the builder more than people who are willing to buy it at 6500 and pretty soon it is going to be 7000 and in june 2010 it will be 7500 . that is how realty sector is


    It's the most basic priciple of Economics. Demand Supply graph. If Demand > Supply, prices will increase. If no one buys his flats, the prices will tumble. Demand is high because people have money to speculate. People have money because banks can provide loans at 8.25%. Banks rates are less because there is less liquidity in the market. There is less liquidity because of the crises. It's a never ending vicious circle!! But I am afraid that's the way it is. The irony is that if the rates are hiked to 13% in near future, the person who actually wants to buy a house for self use and not for returns won't be too happy.
    BTW - Didn't you just say that prices would be 7000 very soon and 7500 in June-July. So, what's the harm in reaping the returns. As a speculator, you make good 15% in 3 months. For a person who wants to buy for self use, it would save him 13% by buying 3 months earlier (or 10% if you adjust bank loan)!!
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  • thanks for the lesson in economics

    Originally Posted by sbindlish
    It's the most basic priciple of Economics. Demand Supply graph. If Demand > Supply, prices will increase. If no one buys his flats, the prices will tumble. Demand is high because people have money to speculate. People have money because banks can provide loans at 8.25%. Banks rates are less because there is less liquidity in the market. There is less liquidity because of the crises. It's a never ending vicious circle!! But I am afraid that's the way it is. The irony is that if the rates are hiked to 13% in near future, the person who actually wants to buy a house for self use and not for returns won't be too happy.
    BTW - Didn't you just say that prices would be 7000 very soon and 7500 in June-July. So, what's the harm in reaping the returns. As a speculator, you make good 15% in 3 months. For a person who wants to buy for self use, it would save him 13% by buying 3 months earlier (or 10% if you adjust bank loan)!!


    thanks for the lesson in economics and P&L will keep that in my mind when i decide to buy
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  • Originally Posted by geeee
    6500 isn't that bad once you consider what people are paying in places like chembur (8k+) or NRI seawoods navi mumbai (6k+) Rates in Thane are about 5k, Powai (8k+). 6.5k for kandivali is pretty good.


    As an Indian I take pride that the real estate prices have risen at par with those in the developed nations. But wait, where is the infrastructure support? Who cares ... ... I am proud and that is all that matters.:o
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  • quit moaning

    There are a billion + people in this country besides NRI/OIC/Expats etc and they all need a place to live. Thats why demand > supply. There are plenty of people who do have the money to buy so you will always be chasing the end of a rainbow. If you need a place then just BUY dont waste your life in the hope that what might happen....and watch the years go by.
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  • highway robbery

    this is like a highway robbery . doesn't paying in black somhow is immoral to say the least and illegal , as such India is on 40% black pretty soon it will be 50% black that encourages fake current markets dont you think or is the
    "chalta hai" attitude to blame for .. everybody wants the other person to be honest but when it comes to them they want people to give them a break ?

    for eg the builder wants police protection from the "Bhais" at the same time they act like " Bhais"
    dont you think
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  • Octacrest

    Hey ppl,

    I have booked a 3BHK flat at Octacrest 6300 psf . I am based in UK so I get all the info from the broker. anyone who has booked a flat or enquired about the project can be kind enough to submit their views on this project.

    I would really appreciate updates with regards to progress of this project.

    i just want to be assured that this is a good deal.
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  • is this near the lokhandwala booking office

    is this near the lokhandwala booking office opposite Mahindra and Mahindra
    if it is where i think it is .. the area is good but to get to it , you have to drive a solid 15 minutes across slum area
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  • Originally Posted by boldm28
    is this near the lokhandwala booking office opposite Mahindra and Mahindra
    if it is where i think it is .. the area is good but to get to it , you have to drive a solid 15 minutes across slum area



    it is behind the centrium mall in lokhandwala township. other projects like sapphire heights & whispering palms are close by
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  • Hi,

    I had booked in Octacrest in the month of november at the rate of 5800 Psf + Rs 25 Floor rise.

    Before booking i had seen a lot of projects (A Lotttttt) and I found this one overall best especially the rates.

    Yes it is just behind Centrium Mall and in Lokahndwala Township, its 8 Buildings project, very luxurious, all the amenities in the 8 buildings compound and there are other big lokhandwala buildings nearby, also Lokhandwala School is nearby, the only negative thing i found about this project is that to reach the lokhandwala township u have to through a 5 mins drive through the slum area. but i guess the possession date is 3 years down the line so maybe this road will be improved by then.

    According to me even today if u compare it with other projects still its one of the best one to go for as in today's date they are asking for 6500 psf and others are asking more.

    Rest its upon ur overall budget and ur requirement date.

    Just today i went there to see the sample flat, of course its not fully completed still i got to see it.

    Vishal Panchal.
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  • is it 6300 straight up

    is the rate 6300 straight up or will the broker give a check after the deal is signed
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  • other projects

    if you dont mind can you tell me what all projects you looked at

    Originally Posted by vishalrpanchal
    Hi,

    I had booked in Octacrest in the month of november at the rate of 5800 Psf + Rs 25 Floor rise.

    Before booking i had seen a lot of projects (A Lotttttt) and I found this one overall best especially the rates.

    Yes it is just behind Centrium Mall and in Lokahndwala Township, its 8 Buildings project, very luxurious, all the amenities in the 8 buildings compound and there are other big lokhandwala buildings nearby, also Lokhandwala School is nearby, the only negative thing i found about this project is that to reach the lokhandwala township u have to through a 5 mins drive through the slum area. but i guess the possession date is 3 years down the line so maybe this road will be improved by then.

    According to me even today if u compare it with other projects still its one of the best one to go for as in today's date they are asking for 6500 psf and others are asking more.

    Rest its upon ur overall budget and ur requirement date.

    Just today i went there to see the sample flat, of course its not fully completed still i got to see it.

    Vishal Panchal.
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  • Originally Posted by jaykamdar
    hey vishal,

    pls note the details of the agent : Vedika Realtors, the guys called Sanjeev tel no - 9833475102. my father in law has booked a flat on my behalf through this guy.


    Hey JayKamdar,
    Y should I note the details of the agent?? I have already booked house in Octacrest.
    Vishal Panchal.
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  • Originally Posted by jaykamdar
    grt thank u so much for ur help.. yep i have decided to go ahead and book the flat..


    Great, good Decision, 6300psf is also good deal.
    See u in Octacrest. He he...
    Vishal Panchal.
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  • Originally Posted by boldm28
    if you dont mind can you tell me what all projects you looked at


    I had see a lot of projects right from thane to dahisar, borivali, kandivali etc etc...

    Cant name all of them but to name a few, casa in thane, lodha luxuria in thane, then urbania in thane, aqua in dahisar, kanakia in borivali, rustomjee in kandivali, Veena saaz in Borivali, Grandeour in Borivali etc...

    Vishal Panchal.
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