Hi Guys

Anyone got any information about Puri Pratham project ? means how is the builder , wat are the current rates , about location , is it worth to go for it ?
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  • Originally Posted by Munishs
    hi IREF Members

    Yesterday one of my friend visited the Marketing office of Puri Group in Neharpar to enquire about the Pratham project.

    The company has increased the BSP of this project to 3500 PSF. Well I have a unit in Pratham , and i am happy to see the rates going up...But i seriously doubt , any transaction will happen at this price in Nehar par..

    What are your views on this...


    I knew this was coming since they have stopped the transfers. Yes people are not going to buy at this rate (not this year atleast). This will be one of the many cases where resale market is weaker than original booking
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  • Originally Posted by Munishs
    hi IREF Members

    Yesterday one of my friend visited the Marketing office of Puri Group in Neharpar to enquire about the Pratham project.

    The company has increased the BSP of this project to 3500 PSF. Well I have a unit in Pratham , and i am happy to see the rates going up...But i seriously doubt , any transaction will happen at this price in Nehar par..

    What are your views on this...


    Resales will happen. I think, company is increasing prices to hold inventory which can be sold at a much higher prices once external infrastructure is in place. Meanwhile, transactions in resale will continue to happen.
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  • Originally Posted by miketest
    Resales will happen. I think, company is increasing prices to hold inventory which can be sold at a much higher prices once external infrastructure is in place. Meanwhile, transactions in resale will continue to happen.

    Hi Mike/PGarg

    So you guys think , that this price is sustainable in faridabad ??
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  • Originally Posted by Munishs
    Hi Mike/PGarg

    So you guys think , that this price is sustainable in faridabad ??


    Rs. 3500 is very much sustainable price and that too when I am thinking very conservatively.
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  • Yesterday me and wife were discussing about the insane property prices in Delhi/NCR region. I do not understand where the world is heading to. Recently one of my relatives bought a 1350 sq. ft. floor in GK - 2 (without parking) for Rs. 6 crores. Then I am looking at Gurgaon, where there are apartments for 15-20 crores. There are sectors which are not livable and yet the prices are touching Rs. 4500 sq ft.

    So lets assume that I proudly say that I live in a 2700 sq ft apartment worth 2 crores but what will be the importance of this price where there are no buyers? So only those who already have their house built or someone who sells their gaon ki zameen? What would happen to the first timers?
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  • Originally Posted by miketest
    Yesterday me and wife were discussing about the insane property prices in Delhi/NCR region. I do not understand where the world is heading to. Recently one of my relatives bought a 1350 sq. ft. floor in GK - 2 (without parking) for Rs. 6 crores. Then I am looking at Gurgaon, where there are apartments for 15-20 crores. There are sectors which are not livable and yet the prices are touching Rs. 4500 sq ft.

    So lets assume that I proudly say that I live in a 2700 sq ft apartment worth 2 crores but what will be the importance of this price where there are no buyers? So only those who already have their house built or someone who sells their gaon ki zameen? What would happen to the first timers?

    Rightly said Mike...the way the prices are today , and the way they are going up , i guess there will be not a single buyer...a big correction is due to happen...i think so...i just asked on this forum about the prices in Sector 64 faridabad for 250 sq.yards plot...the price quoted is approx 80 l....i guess no one lives there...yet this price...
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  • Originally Posted by Munishs
    Rightly said Mike...the way the prices are today , and the way they are going up , i guess there will be not a single buyer...a big correction is due to happen...i think so...i just asked on this forum about the prices in Sector 64 faridabad for 250 sq.yards plot...the price quoted is approx 80 l....i guess no one lives there...yet this price...


    I think we are Generalizing whole RE Market as a kind of in same Boat. See things are different for NP then say Gurgaon or say Noida. The area was started some 7 yrs back and has been lying in Dumps for so long.

    Except for Omaxe Heights most of the investors have lost money and 7 yrs is a Huge time, so prices are nowhere near Exuberance level. If you compare prices in Faridabad sectors with NP you will understand how much undervalued the area is.

    In my view an Appreciation of around 30-40% in 2-3 yrs wud be totally acceptable even if the rest of NCR stagnates. Believe me I am resident of FBD since last 30 yrs and never ever has such huge Development ever taken place in past
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  • Originally Posted by prabhjeetran
    I think we are Generalizing whole RE Market as a kind of in same Boat. See things are different for NP then say Gurgaon or say Noida. The area was started some 7 yrs back and has been lying in Dumps for so long.

    Except for Omaxe Heights most of the investors have lost money and 7 yrs is a Huge time, so prices are nowhere near Exuberance level. If you compare prices in Faridabad sectors with NP you will understand how much undervalued the area is.

    In my view an Appreciation of around 30-40% in 2-3 yrs wud be totally acceptable even if the rest of NCR stagnates. Believe me I am resident of FBD since last 30 yrs and never ever has such huge Development ever taken place in past


    Dear Friend,

    I guess you have not read my post completely. I am talking about the whole NCR market to justify 3500/sq ft. in 1-2 years in Neharpar. :) :) :)
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  • Mike my reply was to Munish who said 3500 in NP is not justified. I know uou have seen all the recent developments there and you won't think these prices are unfair
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  • Originally Posted by prabhjeetran
    Mike my reply was to Munish who said 3500 in NP is not justified. I know uou have seen all the recent developments there and you won't think these prices are unfair

    Guys...well ur replies making me feel good for my investment in NP...
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  • Which project are u invested in munish?
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  • Originally Posted by prabhjeetran
    Which project are u invested in munish?

    I invested in Puri Pratham , in October last year...
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  • Ok so I guess you are invested in 2 BHK you should wait till possession as most of the Master Roads will also complete around the same time, this should prove to be good investment
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  • Originally Posted by prabhjeetran
    Ok so I guess you are invested in 2 BHK you should wait till possession as most of the Master Roads will also complete around the same time, this should prove to be good investment

    Mine is 1300sq ft , with one study room extra...yes the replies seems to suggest that it will be a good investment....
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  • You know what BPTP launched a tower called "Deck" for Rs. 5500/sq ft couple of weeks back. Its completely sold out at the moment when the area is still underdeveloped !!!!! Now if there are buyers/investors at such a rate, the money we are talking about is nothing. :-p :-p :-p
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