Wanted to get opinion on how is Mahindra Aura II compared to other Dwarka side projects like Ramaprastha, Indiabulls, Spire, Tashee and Raheja.
With expected launch price of 3000/sq ft, what are the long and short term prospects both as investment and end use?
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  • How corporates like Tata Housing, Mahindra Lifespaces & Godrej properties are bringing clarity in NCR real estate

    How corporates like Tata Housing, Mahindra Lifespaces & Godrej properties are bringing clarity in NCR real estate
    Swet Sarika, ET Bureau Nov 2, 2012, 02.49PM IST



    (Tata Housing, Mahindra…)
    DELHI: The boom in real estate in NCR has lured corporate houses to foray into residential projects in Gurgaon, Noida and Faridabad in the past 5-6 years. Tata Housing, Mahindra Lifespaces and Godrej properties say that their arrival has brought transparency and professionalism in a sector which is notorious for being unprofessional.


    "There are complaints against almost every builder today because of their attitude of considering buyers as return-hungry investors who only care about the latest price of their property and not the performance of the builder," said Sanjay Sharma, managing director of Qubrex, a real estate consultancy and brokerage firm in the city in an earlier interview.

    The complaints are mainly related to possession of property, extra demand for money, non-availability of community buildings, buildings not matching with the approved plan, maintenance-related issues, occupation certificates , completion certificate, bad construction quality, norms ignored by builders and no action by concern officials and non availability of electric infrastructure among other issues.

    After real estate major, DLF, was slapped a multi-crore penalty by the Competition Commission of India (CCI) in March this year, almost 200 complaints were filed with the CCI, according to media reports.

    GROUND REALITY

    Conglomerates venturing into real estate have brought some amount of transparency and corporate governance in the sector. "Established players like Tatas , Godrej, Mahindra's have made buyers confident of making a safe choice by bringing certain standards to the table, creating new benchmarks or establish new norms," said Santhosh Kumar, CEO of operations, Jones Lang LaSalle, Gurgaon.

    "It has created branding and pushed the importance of delivery schedules. In short, it has really helped clean the industry which was otherwise really messy. A highly labour-intensive industry marred with age old practices has seen wave of reforms and innovations post entry of some big business houses," he added. Giving reasons as to why these big businesses have flocked to NCR, he said, "NCR being a corporate hub is witnessing buoyant demand levels for all segments of real estate."

    "Here per capita income levels are high and also land availability for development at reasonable price is a possibility. In addition to that, major infrastructure initiatives such as Metro, Dwarka Expressway and proximity as well connectivity to Delhi are all working well for this region in particular thereby prompting all businesses to not miss the available opportunities," he added.

    CORPORATE CULTURE

    Tata Housing, which launched its first project Raisina Residency, Gurgaon in 2008, followed by Primanti in Gurgaon in 2011, said that NCR is one of the most important and growing real estate markets in India. "The entry of Corporates has raised the bar in terms of transparency, professionalism and delivery of houses in the sector," said Vikram Kharvi, reputation management consultant, Tata Housing Development Company .

    "Starting from covered area to quality of material & furnishings to community facilities, corporates have had a far superior track record. While saying that, a lot of traditional organically grown developers are also playing catch up and have had a remarkable record of transparency. So, the entry of Corporates has stimulated better business practices and will give the customer options," he said.

    TRANSPARENCY

    Talking about how its presence has taken the standard of realty in NCR high, Anita Arjundas, MD & CEO, Mahindra Lifespace, said "Being a part of the larger Mahindra group has helped us bring in values of customer centricity, quality focus, transparency, sustainability and professionalism in a sector that was not strongly associated with these characteristics."

    "Our foray into NCR was driven by the need to be present in important cities and regions that were seeing or likely to see high levels of urbanisation," she said. Started its journey in NCR in 2000, Mahindra Lifespaces has handed over Central Park - 1 and Chloris in Faridabad and is working on Aura, located near the Dwarka Expressway in sector 110-A.

    BRAND GOODWILL

    Anil Rawal, a property consultant in NCR, said that property today is like FMCG (fast moving consumer goods) and therefore the absorption of residential projects is very high in NCR. "Brands like Tata, Mahindra and Godrej enjoy goodwill among people and they are cashing in on that. Moreover, as conglomerates they have corporate culture which helps them in functioning smoothly in every vertical. Not to forget, they have brought in transparency and professionalism and raised the standard of the industry."

    Godrej Properties, which has two projects, Godrej Frontier in Sector 80 and Godrej Summit in Sector 104, Gurgaon, said that NCR is a critical market for any realtor. "We believe we have carried forward our brand name and reputation for quality to the real estate market in our locations of operation. Transparency and efficiency in operations have helped us in developing long-term relationships with our customers as well as investors in the real estate market, business partners, contractors and suppliers," said Ajay Pawar, general manager (Media & PR), Godrej Properties Limited.

    "Coming from a non real estate background has actually helped us. Most of the team members of Tata Housing come from various business sectors and together they have contributed to bring together the best practices prevalent in other organized businesses,'' said Vikram of Tata Housing.
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  • shoiuld i Enter Mahindra Aura or other project

    Originally Posted by sbhardwajl
    Phase 2 will be around dec 2013

    __________________________________________________________________
    hey guys just joined this forum , im interested to buy a flat on DE way

    looking at brand value Mahindra Aura seems a safe bet ; im getting 1550 sq ft flat of phase 2 Rs 5400 ( booking 3175), is it the right price to enter .

    what price should one expect in a horizon of 2-3 years .

    any other project wud you prefer in the locality of same repute & ROI

    regards
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  • It is a very good price to enter , since the BSP includes Car parking , Club and Pwr Backup
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  • mahindra aura

    Thanks a Lot Mr Bhalla , need your advise on following points here under :

    1. What cud be the value of mahindra aura after 2 years , if i but today at 5400- 5500 levels . keeping in mind possession will come this year .

    2. Cud you please throw some light on the other projects where one should invest money on dwarka expressway

    The dealers are suggesting Siddhartha Estella sec 103 , CHD sec 106, 3 C in sec 89 .

    kindly suggest
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  • nothing will beat the returns of mahindra aura , 2 yrs down te line can be 8000
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  • Originally Posted by mike48222
    Thanks a Lot Mr Bhalla , need your advise on following points here under :

    1. What cud be the value of mahindra aura after 2 years , if i but today at 5400- 5500 levels . keeping in mind possession will come this year .

    2. Cud you please throw some light on the other projects where one should invest money on dwarka expressway

    The dealers are suggesting Siddhartha Estella sec 103 , CHD sec 106, 3 C in sec 89 .

    kindly suggest


    Take a look at ATS Kocoon in Sec-109
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  • whats the last deal price.

    Originally Posted by vipulmails
    Take a look at ATS Kocoon in Sec-109
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  • Originally Posted by saggiarcher
    whats the last deal price.
    One of my friend bought a 2095 sq. ft. flat at 5725 basic around 2.5 months back. I think people are asking around 5900-6100 depending on floor & booking rate(i.e. 4350 vs 4800 vs 5200).
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  • hi friends,

    no demand in mahindra aura from builder in phase 2 after may 12...wht could be the reason? when i called customer service i was told super structure takes time and hence no demand so fAR after may...

    rgds

    deepak
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  • Whats he ongoing price Dk

    D way prices have nt moved in last 6 months
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  • Originally Posted by dkukrety
    hi friends,

    no demand in mahindra aura from builder in phase 2 after may 12...wht could be the reason? when i called customer service i was told super structure takes time and hence no demand so fAR after may...

    rgds

    deepak


    Work on A and B tower is going slow, might be no work going at all. Expect next payment not before Feb13. Some body told contractor problem. I am OK with dealy.
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  • Originally Posted by amit001
    Whats he ongoing price Dk

    D way prices have nt moved in last 6 months


    Hi amit...

    its in the range of 5600-5800..from may 2012 to now prices have moved from 4900(my buying rate) to 5600 now..but things have been slow frm last 2-3 months..though saw sum1 mentioning having got deal at 5400 which i dnt think is mkt rate..

    rgds

    deepak
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  • there have been distress sales in Aura and Chintels in the last month or so , in the range of 5150 for chintels and 5100 for phase 2 Aura
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  • Originally Posted by amit.bhalla
    there have been distress sales in Aura and Chintels in the last month or so , in the range of 5150 for chintels and 5100 for phase 2 Aura


    Thts really bad news bhallaji...but not able to understand wht wud be the reason for distress sale as mahindra is one of top brand and so is the location...may be one off case??!!
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  • Nothing to worry about , It happens in all the projects at some point or the other , In the end Projects which are Fundamentally OK , will always gain .
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