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The Trees by Godrej Properties in Vikhroli East, Mumbai

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The Trees by Godrej Properties in Vikhroli East, Mumbai

Last updated: May 28 2018
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  • #61

    #61

    Re : The Trees by Godrej Properties in Vikhroli East, Mumbai

    Originally posted by contactbrij View Post
    Looks like Both Godrej and Oberoi's getting stellar response. If Oberoi can sell 500 flats within a week at ticket size of 3cr++, so Godrej also can easily sell at 1.7cr onwards even if it's a 1 BHK..

    Basically proves demand for luxury homes at high price end is quite robust and not price sensitive. People with money want to go for branded homes and don't mind paying a bomb..
    I think around 500 flats is a small number for Mumbai.. It would be terrible if Mumbai did not have so less crorepatis..

    Most of the Godrej buyers are end users.. Investors have been driven out by the pricing by Gogrej
    Last edited December 7 2015, 10:51 PM. Reason: quote formatting

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    • #62

      #62

      Re : The Trees by Godrej Properties in Vikhroli East, Mumbai

      The prelaunch market is clearly shifted to quality operators where likes of Godrej and Oberoi can sell all the inventory whereas operators like Runwal, Nirmal etc. don't get any traction.

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      • #63

        #63

        Re : The Trees by Godrej Properties in Vikhroli East, Mumbai

        In Trees, 75% of the inventory was already sold to employees and NRI, who just bank on Godrej brand to deliver...

        Most of the walk-in were returned back saying no-availability and all crap....

        These prices doesn't reflect the actual market, u can get Hiranandani resale at similar prices, Wadhwa Address at lesser rates....

        It's just marketing hype created for next phase...

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        • #64

          #64

          Re : The Trees by Godrej Properties in Vikhroli East, Mumbai

          Maybe in next phase Godrej Trees is hoping to break all records and sell a 1 BHK at 2-2.5 cr +
          I think the next strategy would be to Create so much hype so that people queue up 2-3 days before the next phase launch so that they can grab the super HOT deal and own a 450 sq feet flat for just couple of crores :-)

          At these rates, Godrej is steadily emerging as the leader and keeping even Lodha, Oberoi and Hiranandani behind..

          Given the fact that Godrej owns almost 200+acres in Vikhroli, With this pricing I think full Vikhroli and nearby suburbs will get re-rated and priced accordingly.
          Also may not be a bad idea to buy Godrej properties stock, imagine the potential !!

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          • #65

            #65

            Re : The Trees by Godrej Properties in Vikhroli East, Mumbai

            Godrej Prop Sells 300 Flats in a Week, Stock Jumps 5%


            Godrej group said on Monday that it has sold 80% of launched apartments, or 300 units, at its newly-launched project in Vikhroli.

            Lodha Group -which launched phase II of Palava City on the outskirts of Mumbai, limited edition residences at World One in Lower Parel and an entire project in south Mumbai's Altamount Road -has sold over 415 apartments in the last one month.

            Oberoi Realty, another Mumbai-based developer, has sold 543 apartments during the launch of their Borivali project.

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            • #66

              #66

              Re : The Trees by Godrej Properties in Vikhroli East, Mumbai

              Originally posted by akki2006 View Post
              In Trees, 75% of the inventory was already sold to employees and NRI, who just bank on Godrej brand to deliver...

              Most of the walk-in were returned back saying no-availability and all crap....

              These prices doesn't reflect the actual market, u can get Hiranandani resale at similar prices, Wadhwa Address at lesser rates....

              It's just marketing hype created for next phase...
              Wont compare Address to this given its location in always crammed LBS Marg and a plot which faces Cemetry and Naala. But I agree that you can get a Hiranandani at similar rates, or even Godrej Platinum for that reason.

              But here you are paying over the next 4 years (vs 100% upfront for a completed property) and assuming Godrej takes care of any construction related risk, on NPV basis, you are effectively paying 25% discount to the current market price. Even if the price adjusts only for inflation for the next 4 years (say 7.0% - 8.0% p.a.), you have your 15% annual returns on the investment. Not to mention that you have a great apartment in a class project that you can anyways put to end use .

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              • #67

                #67

                Re : The Trees by Godrej Properties in Vikhroli East, Mumbai

                Did u add yearly value of money (payment * fd interest), its like pre-emi, and also add rent for 4yrs (55k+ per month, as per Hiranandani)...

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                • #68

                  #68

                  Re : The Trees by Godrej Properties in Vikhroli East, Mumbai

                  Hi,

                  Long time lurker and first time poster. I had Godrej Trees in my shortlist but backed out due to various reasons. While largely positive, there are a few things that did not impress me much. Since they have not been discussed earlier, putting them down:

                  a) Flight path: While domestic flight may be ok, the international wide-bodied flights will create quite a bit of noise. This was confirmed pretty much by a Godrej employee. Solution offered: Double barreled windows. So no keeping windows open to sleep in the breeze. Although I feel that people will get used to it quicker than thought

                  b) Parking - 1 space: After paying 2.75 crs for a 2 BHK, they should have offered atleast 2 car parks. Most premium builder have started doing it. Additional parking is 10 lakhs. Given the location and the nee for personal vehicles, maybe it was a roundabout way to increase pricing.

                  c) 9 feet ceiling: Again while ok with most common buildings, a premium one should've been better. Tata Eleve is 10 feet, Shapoorji Vicinia is 10 feet, L&T is about 9.75 feet. Heck, Runwal forest is 11 feet (atleast claimed). Again, height restrictions apply but for a premium project, you could've cut down a few floors. There is a hell lot of space for Godrej to develop in that area. Higher ceiling gives such a nice feeling to the whole flat.

                  As you can see, these observations are all for an end-user POV. Can someone throw light on intended maintenance charges in the future?

                  On balance, I still think it will be a great future proof project given the location, accessibility and the worsening traffic. Comments / clarifications awaited

                  Comment


                  • b00439550
                    b00439550 commented
                    Editing a comment
                    Where did you get the information about the ceiling height?

                  • selfuse20
                    selfuse20 commented
                    Editing a comment
                    Well this was long time ago as per discussion with the sales person. This was for the 1st phase. Don't know if they've altered for 2nd phase or origins, although seems unlikely. Anyways, details should be in the mcgm screen website also i guess..

                  • b00439550
                    b00439550 commented
                    Editing a comment
                    Thanks @selfuse20
                    This is a bummer, did not realise the height was 9 ft. Luxury homes should ideally have at least 10 feet height. Not sure what is so luxurious about this project as was marketed.
                • #69

                  #69

                  Re : The Trees by Godrej Properties in Vikhroli East, Mumbai

                  Originally posted by xredred View Post
                  The prelaunch market is clearly shifted to quality operators where likes of Godrej and Oberoi can sell all the inventory whereas operators like Runwal, Nirmal etc. don't get any traction.
                  I think this is the expected flight-to-quality during a crash.

                  At the same time, it is important to note that while Oberoi is claiming 500+ registrations for its new (borivali) project, it is revealing negative sales for its UC project (Mulund for last quarter I believe).

                  In other words, though the launch is successful, you are still going to see a lot of empty flats. After some time, there will be empty quality flats in every sub market. Further, as the quality premium gets exhausted (The Runwals and Nirmals will either lower prices or be taken over - but the flats will ultimately get constructed) the crash will hit these builders also pretty hard.
                  Last edited December 9 2015, 12:47 PM. Reason: quote formatting

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                  • #70

                    #70

                    Re : The Trees by Godrej Properties in Vikhroli East, Mumbai

                    Originally posted by akki2006 View Post
                    Did u add yearly value of money (payment * fd interest), its like pre-emi, and also add rent for 4yrs (55k+ per month, as per Hiranandani)...
                    Didnt understand time value of money? I am anyways doing the NPV. How will you earn an interest on FD when you have already paid 100% up front for Hirandani flat. You may consider rent, but net of maintenance charges and property tax, your yields will be irrelevant 1.0%-1.5%.

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