Friends,

Please spare some time. Need your valuable opinion. I am pretty new to property buying.

I have been talking to the CP for Runwal Bliss pre-launch I am very inclined to go for it but not 100% convinced.

I have read in this forum that there is history of delays. But I am ok with 1-2 years delay. rather I have no choice as the other options available in the same area are just not affordable. Also the delay could work in my favor as I will get time to make payments. However apart from the delay, is there any other serious risk? I am not going for it from investment point of view, would like to have it for eventually living in it.

Whats your views? Are there other who are planning to go for it?

Please suggest as for me this could be a make or break decision. Perhaps a once in life time one. If I invest, I am putting my hard earned money and all my savings until now, but as far as rewards is concerned, eventually whenever it is completed (with delay i know) it an opportunity to stay in a quality residence.

Thanks !
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  • Even I am interested in buying. Any suggestions would be appreciated. Also, what is advised? Going through a channel partner/broker or directly?

    @pbn78: Have you seen the area around the land? From maps, I think there are slums close by. Also, I have heard they would be asking 10.5-11k/sqft for pre launch. Do you have concrete rates?
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  • Location is fantastic dont worry about that... its Cromptom greaves land...I stay nearby so I can tell you that location is not an issue...connectivity is great
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  • I know about Crompton Greaves land, but it is huge. It borders slums on few of the sides. I heard that the first phase will be developed near the slums. Also there is a high tension wire, that runs through the plot. I am planning to visit the area this weekend to check it out personally.
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  • The location is great

    Problem is the builder -

    a. Delay - he is know for delay of 3-4 years. E.G. Runwal anthurium. Runwal forest pre- launched last year (same status as bliss today with only I2R) tool 1 year for launch..still construction start is 1 year away and will be completed only by 2019 as per builder...assumed 2021...Thank god I did not invest there

    b. Quality - Very bad quality of brickwork, internal piping, concealed electricals at Runwal greens, where I have invested in Mar 2010. The grills planned for fitting are not even used by local builders

    c. Cost - additional 15% would be charged for no ryme or reasons over and above your booking price before possession. Check Runwal Greens homeowners, he is asking every one to pay for increase in area which is already sold to us.

    d. Customer care - very poor. They do not respond. Charge you interest for no fault of yours....and always threaten you to cancel flat

    What ever is the launch / PL price...do not fall prey..Eventually it is worth paying for Lodha at 14-15 K psf for ready property(atleast you can sleep with peace)
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  • Guys - Any suggestions, comments? is there a risk involved?
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  • Great pbn78 - you need more risks besides above - Runwal is looking for you
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  • @sadams: Regarding delays, that is the problem with nearly ever builder in Mumbai - be it Lodha, Oberoi or anyone else. Pbn78 clearly said that its the only thing within budget. No point in suggesting him to invest him in a more expensive prioject. At least land ownership of the project is clear and it is centrally located.
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  • Originally Posted by sadams
    Great pbn78 - you need more risks besides above - Runwal is looking for you

    Sorry... your response and my response landed at the same time....almost. Couldn't see
    it before responding. Thanks for your valuable time bro.
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  • ravi2401 - Disagree. Investing or buying in PL is not the only option. The money you are investing here - you are better off staying in rent and buy when market cracks. No real estate investor is expecting more than 10% yield. I would be happu to sell after a year with 10% growth from here
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  • Sadams - You are right. But I have been waiting for market to correct (I guess that's what you mean when you say market "crack") for last 2-3 years. But it didn't happen. For me the problem is that my current residence is 1970s construction. Its still holding good but it has to go for re-development within next 5-6 years. So in short team I don't need to stay on rent but I need to buy a flat which gives me possession in @5-6 years (little +/-) and I prefer to stay at the central suburbs. Unfortunately, rest of the stuff available is beyond my reach. hence was thinking of Runwal Bliss. Also the location as well as Runwal being a big builder thought it was reasonably safe.

    In your post you say they charge 15% extra. Is this about the flower-bed area issue when the rules changed and this area had to be included. Or is this about something else?
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  • and you think in last 2-3 years market has not cracked - Runwal Greens was quoting 11750 in Dec 2012 and now also it is around 12750 psf. Tata Aveza has corrected 20%. Hold for huge inventory to come to market, there are investors locked at high rates
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  • Originally Posted by sadams
    and you think in last 2-3 years market has not cracked - Runwal Greens was quoting 11750 in Dec 2012 and now also it is around 12750 psf. Tata Aveza has corrected 20%. Hold for huge inventory to come to market, there are investors locked at high rates


    That correction if taking with money value devaluation is no correction at all. Poeple look at prices only, but do not see how much inflation and interest rates are moving. my few cents...
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  • How about neptune 100feet above...some offer of 50%in.36emi and rest on.posession...
    Runwal will anyways will be taking 25% right away and another 15% within 2 yrs...so ultimately payment is same...atleast in.neptune work already started... Rates similar as well.....
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  • pgnayak2005,

    Does economictimes or any other pink paper is available in that part of world where you are?

    If you consider inflation (esp. in construction cost) then there has been good correction. Even if we consider the PPP principle, real correction has been more than nominal one.
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  • Originally Posted by pbn78
    Sadams - You are right. But I have been waiting for market to correct (I guess that's what you mean when you say market "crack") for last 2-3 years. But it didn't happen. For me the problem is that my current residence is 1970s construction. Its still holding good but it has to go for re-development within next 5-6 years. So in short team I don't need to stay on rent but I need to buy a flat which gives me possession in @5-6 years (little +/-) and I prefer to stay at the central suburbs. Unfortunately, rest of the stuff available is beyond my reach. hence was thinking of Runwal Bliss. Also the location as well as Runwal being a big builder thought it was reasonably safe.

    In your post you say they charge 15% extra. Is this about the flower-bed area issue when the rules changed and this area had to be included. Or is this about something else?


    In next 7-8 years. some other rule will change, they will squeze it from you. They squeezed additional amount from Orchard residency PL customers also...looks like you are bound to be at Runwal Bliss (I guess your redevelopment building may be ready sooner than this)
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