Dear Friends,

You must have seen the only ad of its kind in Thane.

"Sudarshan Sky Garden-Ready possession with OC".

I am seeing this ad since past 1 year atleast. But the tower seems to be empty still!

The ad is still put up on hoarding!

Can anyone tell me the reasons?

I have seen their sample flat on youtube. And yes it does look very small.

Kindly enlighten us.
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  • Don't know what exactly is the issue with sudarshan sky garden but there are many such properties in Thane, mainly in Balkum, Kavesar, Ovala, Bhayandarpada which have no takers. NG Regency, which is a ready possession property in Balkum also has no buyers since the past 2-3 yrs. Property in general is very sluggish in Thane. There is one project called Madhav Palacia in waghbil and the builder is quoting the same rate 7250 psf for the past 10 months. Investor flats in this project are quoting 6k psf but still no buyers !!!!
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  • Originally Posted by AyaanD
    Don't know what exactly is the issue with sudarshan sky garden but there are many such properties in Thane, mainly in Balkum, Kavesar, Ovala, Bhayandarpada which have no takers. NG Regency, which is a ready possession property in Balkum also has no buyers since the past 2-3 yrs. Property in general is very sluggish in Thane. There is one project called Madhav Palacia in waghbil and the builder is quoting the same rate 7250 psf for the past 10 months. Investor flats in this project are quoting 6k psf but still no buyers !!!!


    6k?? Mind sharing more details please?
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  • Originally Posted by rosaysh
    6k?? Mind sharing more details please?

    This project is Palacia in Waghbil...The investor flats were available at 6k psf...but that was 1 month back...now the rates will be less than 6k...I am not able to PM you the details...you need to complete min 10 posts to have PM facility...
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  • Originally Posted by AyaanD
    This project is Palacia in Waghbil...The investor flats were available at 6k psf...but that was 1 month back...now the rates will be less than 6k...I am not able to PM you the details...you need to complete min 10 posts to have PM facility...


    Thanks, do you mind emailing to me on rosaysh at com. Much appreciated.
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  • Originally Posted by AyaanD
    Don't know what exactly is the issue with sudarshan sky garden but there are many such properties in Thane, mainly in Balkum, Kavesar, Ovala, Bhayandarpada which have no takers. NG Regency, which is a ready possession property in Balkum also has no buyers since the past 2-3 yrs. Property in general is very sluggish in Thane. There is one project called Madhav Palacia in waghbil and the builder is quoting the same rate 7250 psf for the past 10 months. Investor flats in this project are quoting 6k psf but still no buyers !!!!


    Originally Posted by AyaanD
    This project is Palacia in Waghbil...The investor flats were available at 6k psf...but that was 1 month back...now the rates will be less than 6k...I am not able to PM you the details...you need to complete min 10 posts to have PM facility...


    Can you please try PMing now?
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  • Here's the project website: Palacia - A New Residential Project in Thane

    You can refer it for more details.
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  • Originally Posted by AyaanD
    This project is Palacia in Waghbil...The investor flats were available at 6k psf...but that was 1 month back...now the rates will be less than 6k...I am not able to PM you the details...you need to complete min 10 posts to have PM facility...



    Hi Ayaan,
    Could you please PM the details to me ASAP.
    I am about to finalise a propertly at Palacia.

    A quick response would be much approeciated.

    regards
    Sam
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  • You may contact them on board number given on their website. I have gone and visited site physically and there is very less or almost no sale. Any delay in contacting them is likely to bring price down rather than any increase.
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  • You will find investors in this project but they don't sale for a lesser price than the builder. They tell you will be the 1st party and deal directly with builder from now onwards. They should be the partners who have invested in this project or the builders relative.
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  • the entire stretch of Ghodbunder road has a lot of inventory stacked up and hence the prices are not going to rise up until the demand for such expensive houses catches up!
    I myself had a 1 BHK flat which i sold recently after holding for 3 yrs.. I got a paltry 11.5% return which is not much compared to other areas like Mumbai suburbs or Navi Mumbai.
    Ofcourse, the economy may pick up now and rates may increase.. but all this remains pure speculation..
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  • Sudarshan Sky Garden now has the 3BHK building ready and standing but not opened. Although they seem like cash rich builders who dont need investments during construction, the only reason they are holding on is because right now there are very few buyers.

    When do you all think the rates will push from 7000 to around 9500 in that area (Kasarvadavli and Owale)???
    In Bhayenderpada, Rumah Bali and Lodha Splendora are quoting higher, but i am pretty sure, Rumah Bali would be negotiating heavily, and while Lodha will not negotiate, they will delay.
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  • There is huge huge oversupply in GB road currently. Many builders have bought large land parcels and will be announcing new projects soon. There is no point in buying at the current rates on GB Road. This oversupply situation will continue for the next 5-7 years. This could lead to a drop in the prices in the medium term. Even if prices don't fall, it will take many years for prices to go up..Currently the builders should be negotiating upto about 25-30%.
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  • I agree with you that there is huge oversupply in GR road, but builder is not negotiating much for ready to move flats. I was with bulider office (cosmos jewel) for 2 bhk deal, he quoted 87 lac (599 carpet) and only giving discount upto 1.5 lac that too when i went with broker who told me that he has good reputation with builder. I walked away, in general sells are not happening but both investor and builder is holding the price.
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  • Originally Posted by gr8thinking
    the entire stretch of Ghodbunder road has a lot of inventory stacked up and hence the prices are not going to rise up until the demand for such expensive houses catches up!
    I myself had a 1 BHK flat which i sold recently after holding for 3 yrs.. I got a paltry 11.5% return which is not much compared to other areas like Mumbai suburbs or Navi Mumbai.
    Ofcourse, the economy may pick up now and rates may increase.. but all this remains pure speculation..



    Yes GB road returns on immediate basis would be paltry due to excessive supply. I feel it would take another 5 years for situation to stabilise from demand / supply.
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