Dear all,

Quite Urgent...Appreciate everyone's patience and assistance!

Seniors need your advice on the project and builder reputation and price point. First property purchase and hence very nervous.
Developer is Shree Shakun Realty Pvt. Ltd and project is Shree Shakun Heights, Goregaon East.

Can somebody provide any info on the developer. Current rate is 11500psf on built up.
Site is located right next to Romell Aether site one block away. Surrounded by Industrial estate and near Shiv Sagar Industrial estate. It is behind Umiya Mata mandir at Goregaon East. Walkable from station and near WE highway.

Please provide ur feedback/comments on price, location, future appreciation, infrastructure, roads and liveability aspect since was looking at project around 1.2-1.4cr ticket size from Goregaon east to Borivili east

Considering 1340 sqft- at 1.5cr+ excl Stamp duty/reg & parking-society/2yrs maintenance.
Bit over budget now though
Also advice needed on how much to pay before can do stamp duty and registration. since that alone is roughly nearly 15lacs and exactly during purchase how much component you should have funds (eg loan approval, cash on hand etc)
Expected delivery date is Oct 2015.
Floor rise- 100rs
Title deed of land on the name of the developer.
Stampt duty & registration - 9.7% + 38k
Car park - 7.5lac
Maintenance- 12psf on carpet

Below are the web links.

Residential property in Mumbai and Suburbs
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  • Apologies the above topic also posted in the post titled "Advice needed over 2bhk actual difference between 1125 sqft & 1340 sqft builtup but yet to get any reply. Moderate please bear with me for a while and appreciate your kind assistance!
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  • Is the above project with 41% loading and 1.8cr nett for a 1340sqft built up and 790sqft at Goregaon East worth it with delivery expected around Oct 2015 and max Dec 2015.


    Looking for valuations from seniors and growth appreciation in the location, industrial area if will be cleared in Goregaon East and liveability and lifestyle index in coming years say 3-5 yrs horizon.

    Any help is appreciated!


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  • I used to live close by 2 years ago, the going rate then was 10kpsf in Aether. The location is OK there is an open nullah nearby which would possibly come up in front of your apartment, overall OK location to live in, the only problem that I faced when living there was that autos refuse to ply to station, inorbit and Oberoi mall, so you have to commute on your own. There is some on going litigation around land close to aether , I know this as I was about to buy in that area but then decided against it. Also don't expect delivery before 5 years, only at time of buying builder will make promises of 2-3 years but once he has your money you will be chasing him. If you have a 5-6 year horizon then its a good location, near malls, hospitals and railway stn and highway too so you will be good. Try negotiating with builder, the builder was ready to bring rate down to 9k PSF when I offered to pay 40pct down payment, plus rate in that area is stagnant since last 2-3 years not many sales happening so you should be able to get that rate if you negotiate

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  • Originally Posted by pande1
    I used to live close by 2 years ago, the going rate then was 10kpsf in Aether. The location is OK there is an open nullah nearby which would possibly come up in front of your apartment, overall OK location to live in, the only problem that I faced when living there was that autos refuse to ply to station, inorbit and Oberoi mall, so you have to commute on your own. There is some on going litigation around land close to aether , I know this as I was about to buy in that area but then decided against it. Also don't expect delivery before 5 years, only at time of buying builder will make promises of 2-3 years but once he has your money you will be chasing him. If you have a 5-6 year horizon then its a good location, near malls, hospitals and railway stn and highway too so you will be good. Try negotiating with builder, the builder was ready to bring rate down to 9k PSF when I offered to pay 40pct down payment, plus rate in that area is stagnant since last 2-3 years not many sales happening so you should be able to get that rate if you negotiate

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    Pande Bhai,

    Very good post but looking at the location and other amenities highlighted by Mr Shreik the best it can attract is 8000/sq feet, no further negotiations.
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  • Dear Shreik,

    The best rate in current downturn market/and location/loading etc stated by you shold be max 8000/sq feet hopefully that answers your query, rest is up to you to negotiate to your affordability with the seller??

    If not better stay on rent for some time.

    BTW what is the hurry?? :)

    Cheers
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  • Hi Pande,

    Thank you so much for the detailed comments. It really really helps!!!

    I double checked the area there many times NO nalla nearby. There is this short road next to Umiya mata mandir which leads to Romell Aether . Opp Umiya mata mandir is Santosh Rubber factory. Once u go in and take right and walk further down there is Sainath Industrial estate and just opp that is this land being developed by Shakun Realty.

    The property title is clear and owned by them. Earlier had plans to construct commercial plaza and changed it to residential.

    Behind the plot is a BMC school ground. On left hand side as we enter is Romell Aether and car parking. On the right hand side is industrial estate and opp is Sainath industrial estate. Roads are not pucca. The best rate quoted is max 11k on superbuilt up since Romell Aether last checked on dec was 12990.

    Just to understand from you if u don't mind which building u stayed exactly. Since this Shakun Heights builder is contemplating Oct 2015 possession and from your opinion ll be extended to max how many more months.

    I am looking for some location around 10k psf with pure carpet around 750sqft for max 1.4cr incl all with freehold land title deed and delivery within 2yrs. Anywhere from Goregaon-Kandivili. Nearby stn and WE highway would be good.

    Had short listed Rajesh White city near Kandivili Lokhandwala (possession Jun 2018- so let go) and this Shakun Heights both almost similar rates but looking at future growth potential & accessibilty.

    Please find the pics of the area by nearby and let me knw if same location we both are talking about. Thanks so much again!!!https://api.indianrealestateforum.com/api//v0/attachments/fetch-attachment?node_id=42828https://api.indianrealestateforum.com/api//v0/attachments/fetch-attachment?node_id=42829https://api.indianrealestateforum.com/api//v0/attachments/fetch-attachment?node_id=42830https://api.indianrealestateforum.com/api//v0/attachments/fetch-attachment?node_id=42831https://api.indianrealestateforum.com/api//v0/attachments/fetch-attachment?node_id=42832https://api.indianrealestateforum.com/api//v0/attachments/fetch-attachment?node_id=42833https://api.indianrealestateforum.com/api//v0/attachments/fetch-attachment?node_id=42834https://api.indianrealestateforum.com/api//v0/attachments/fetch-attachment?node_id=42835https://api.indianrealestateforum.com/api//v0/attachments/fetch-attachment?node_id=42836https://api.indianrealestateforum.com/api//v0/attachments/fetch-attachment?node_id=42837https://api.indianrealestateforum.com/api//v0/attachments/fetch-attachment?node_id=42838


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  • I used to stay in Residency apartments, it was just opposite to Aether building.

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  • Hello Pande bhai,

    Thanks for the comments and hopefully you would knw more about this area than anyone else here. Appreciate your help and due-diligence.

    Actually have few more questions abt the location and property prices in 2014 in specific since all prices are above 11k psf min for this area.
    If you dont mind can PM for your handphone no and can call you up this weekend if its convenient.

    Have you from your exp seen any price escalation in this Goregaon East (Umiya mata mandir road, Shiv sagar industrial estate area)
    From 9000psf - 2011 to 11500 min - 2013 looks like it. Also do you think the industrial estate around that vicinity, lot of factories around would ever be cleared up for residential and proper roads, infrastructure would be setup in say 2-4yrs time.

    Also from since am buying my FIRST house in Mumbai want to be double sure of location price appreciation, nearby amenities, infrastructure etx and take informed decision!

    Appreciate your further feedback/comments!!

    @Capt Rajesh - Obv would love to get a rate of 8000psf in Goregaon east but alas had did a thorough search in Dec but couldnt find any. Any place between Goregaon-Kandivili you or any of the seniors can recommend around that price NOW would be great
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  • Since its is a prelaunch the rates should be below 9500/-, even i can gurantee the posseion will not be before 4 years,
    a pretty risky project since the construction hasnt started.
    there was a similar project in Malad east but in three years the project hasnt taken off, you will find similar small projects in the area but risky, very risky.
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  • Hello Reporter,

    It's not a pre launch project. Already basement, plinth and level 1 constructed and CC upto 7floors. If you can get such rates plz pass me contact. Don't spread wrong info as it misguides everyone.

    Kindly read up the original query question. If you have no idea about the location and price and base only on generic comments doesn't help anyone.

    Please provide constructive feedbacks from seniors with current pulse about the location and market rate and not just beating around the bush which makes it tougher to make a decision!


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  • My Apologies SHreik...........
    shall be more updated the next time...
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  • Hello Seniors,

    Atleast someone plz help guide practically with real current prices, location awareness, future growth appreciation, whether industrial estate in Goregaon east ll be cleared in near future, and whether this property at such new DCR high loading makes sense in 2-3 horizon in Mumbai! Pls


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  • Any help anybody????


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  • Hey Shriek... I am no senior, but could say that the rate of 11500 is competitive... The area is developing and all industrial plots are being converted into residential over a period of time.

    Could you update about the project further, Heard their are 2.5 BHKs in the building? When is the possession.

    Also, if you want to invest in a 2 BHK, Omkar Ananta might be a good option for u.

    regds
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  • may be its better to opt for either Romell Aether or Romell Granduer
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