Got a call from mahindra. The marketing guy was not knowing the exact price. The tentative price he told is around 4000. launch in mid april .

thanks psambher

I HAVE HEARD AURA 3 IS COMING 3900 WITH 1900 SQ FEET SIZE BY MID APRIL. THE PARKING AND CLUB CHARGES WOULD BE EXTRA UNLIKELY AURA 2. PLEASE ADVISE HOW IS THIS INVESTMENT FOR 6 MONTHS OR SHALL I BUY AURA 2 IN SECONDRY MARKET APPROX 3900- INCLUDING PARKING & CLUB AND SIZE IS 1550 SQ FEET. THIS IS PURELY FOR INVESTMENT PURPOSE. GUYS PLEASE ADVISE

This is not the right time to invest for short term in any project. You will not find any buyer in resale market after 6 months. Resale prive is alwayes 300-500 less than the builder price.

Price are likely to be stagnant this year. You may consider to invest in aura if you can hold for at least 3 years.

strange investor sentiments ?




I am shocked to know that Mahindra resale price is 3900 psf, when the adjacent Tashee (in sector 111) is available at 3200 psf. Tashee is better located than Mahindra. Mahindra is directly on a drain (flowing gutter) and adjacent to old basti, while Tashee is a clear site.

The only reason for price difference is investor sentiment that Mahindra will surely deliver the product. While Tashee being a lesser known company has some (perceived) risk.

Remember when they both deliever the product in time, Tashee will command much higher resale value.

If you are not comfortable with Tashee, wait for Puri's sector 111 project, which is adjacent to Tashee. Location is excellent for puri too.

You should always play safe as a end user or investor. You have a margin of safety with mahindra but Tashee and earth though better located have a high risk associated.

I can give you one example of clarion legend sector-57. Builder still has not handed over the possession after 6 years of launch. Buyer have been told to pay escalation cost.

Location matters a lot in real estate but it is life time investment so be careful to choose a builder.

At least I know few builders on dway where I can invest safely.

You are still waiting for the reputed builders launches on dway.

I am not trying to defend my investment in Mahindra Aura but just want to put some facts for forum readers. Readers are intelligent enough to decide about their investment.

I think tashee was pre-launched somewhere in Aug-2010 while Mahindra Aura Ph-2 in Sep-2010.

As per some post in Tashee Thread it too have a railway near to site as it is with Mahindra too (http://www.indianrealestateforum.com/gurgaon/t-tashee-project-sec-111-0km-delhi-border-12808-page63.html)

1. Exact date of Mahindra launch was 12-Sep-2010.
2. Buyers got the BBA and allotment letter on 24th Nov-2010 with the demand for 2nd installment (25% minus booking amount).
3. Next demand is expected in Mid-April (2011) which is on competition of Ground Floor Slab.
4. As per BBA possession will be given within 30 months from the start of construction which actually started in Jan-2011 hence expecting delivery by Jul-2013.
As per their site http://www.mahindralifespaces.com/aura/project_milestones.html the basic structure for Phase-1 is almost completed. Probably in just 12
months (It was launched in Dec-09 and probably construction would have started atleast 3 months later). Seeing the progress of Phase-1 I expect that Phase-2
will be delivered on time.

5. No need to tell that Builder is well known and has good reputation.

Probably that is the reason that they have increased the price from 2275/- (Phase-1 in Dec-2009) to 3175/- (Phase-2 in Sep-2010) and now 3900/- (Phase-3. Expected in April-2011). An increase of 1625/- (71%) in just 15-16 months..

Where is Tashee now??? I don’t have any idea but at per Tashee thread looks they have still not launched officially and allotted the flats since there pre-launch in Aug-2010.

phase 3 to be launched on april 6th , price is 3875 psf , sizes are 1875/1900 sq ft , with slightly richer specs than aura 1 and 2 and phase 2 is available in resale comfortably at 3750-3800 psf

total 110 units , mahindra employees will be preferred , Tower F nd G , 4 units to a core , 3 side open appts. Not near the drain 0or the railway line , Right in the middle of the township

Just now I received the email from CRM team of Mahindra for Phase-3. Here are the tentative rates

Basic Rs. 3875 psqft
Car Park Rs. 2,50,000
Club Membership Rs. 1,00,000
Power Back Up Rs. 75,000
EDC & IDC Rs. 373 Per Sqft
IBMS Rs. 50 Per Sqft
ECC As Actual
Registration As Actual
Service Tax As actual
PLC As actual

Payment Plan:

Booking Amount :
8.5 Lac 3+Srv BHK
Within 60 days 20% of total consideration less booking
amount
On completion of ground floor slab 10% of Total Consideration
On completion of 3rd floor roof slab 5 % of Total Consideration
On completion of 6th floor roof slab 10% of Total Consideration
On completion of 9th floor roof slab 5 % of Total Consideration
On completion of 12th floor roof slab 10% of Total Consideration
On completion of super structure 10% of Total Consideration
On starting of external paint 5% of Total Consideration
On completion of flooring 10 % of Total Consideration
On completion of services 10% of Total Consideration
At the time of pocession
5% of Total Consideration + ECC,IBMS,Registration

Flat Types:

Number of towers: 2 – Towers F & G
¨ Total no. of apartments :110
¨ Four apartment per floor
¨ Structure : G+13
¨ Categories of apartments:
Ø 3 BHK + Servant : 1875 & 1900 sq.ft.

Phase-2 BSP included Car Parking, Club Membership and Power Backup which as per their email is 4.25L for phase-3 which cost 226/- per sft for 1875 sft flat. Hence effective BSP is going to be Rs. 4100/- and that too for 3BHK flat. No 2 BHK flats is Phase-3.

The rates are still tentative as per email and actual rates will be disclosed on the date of launch.

\

these r the final rates....

The last page of pdf sent by builder reads below:

" All the information stated herein are tentative and subject to change at the sole discretion of the Company."

Thats the reason I mentioned that rates are tentative.

It is quite possible that Mahindra won't revise these rates because the rates are already Rs. 925/- plus (If considered car Parking, Club Memebership and PBC) the rate of Phase-2 just in 7 months.