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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  • When is the possession expected for phase-1?
    and prevailing rates plz? Has Mahindra filed for OC?
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  • Re: Mahindra Aura, Sector 110 a, Dwarka Expressway

    Originally Posted by Ansh10
    When is the possession expected for phase-1?
    and prevailing rates plz? Has Mahindra filed for OC?


    Q4 dec'13, Not yet.
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  • How long does it take for possession after filing OC? Also, will they offer possession phase wise or all together (or maybe Phase-1 & Phase-2 together)
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  • Mail from a broker:

    Mahindra Aura Phase-4 (Final Release)

    *Renowned Mahindra Group has come up with their very limited additional units in project Mahindra Aura at sec -110A (Next To Dwarka Expressway)

    *5 min drive from the IGI Airport, 0kms from Dwarka expressway

    4BHK+ SQ- 2300sqft

    Price 7000/sqft

    Mahindra Aura is an under construction residential project maximizes the experience of living close to nature by giving back to it. 16.84 acres of Contiguous land 500 meters from existing developed sector and plot adjoining existing roads on two side.

    This is achieved by employing the latest green techniques. Mahindra Aura Phase 4 is offered residential apartments with all community facilities like Playground, Power Back-Up etc.

    As witnessed in the Earlier phases of Mahindra Aura, bookings were completed in less than A week (for phase 1) , 2 hours for phase 2 and 2 weeks for Phase 3 , And Premium was there in less than a month’s time , Again the opportunity has come to be availed by the select few.

    Cheque Collection has been started by us and we will be updating the Company about the Cheques collected for Confirmed Allotment.

    Mahindra Aura Key Features:

    · 80% Green area

    · Playground for children

    · Club House

    · Jogging Track

    · Area Efficient Apartments

    · Shopping Complex

    · Community Activity Area

    · Ample Open Spaces

    · Swimming Pool

    · Gated complex

    · Sporting Facilities

    Mahindra Aura Gurgaon Location:

    · Well connected to NCR Key.

    · Located In Palam Vihar.

    · A Few Kilometers from IFFCO Chowk

    · Great connectivity with key points in NCR.

    · In the heart of Sector 110A, Gurgaon

    · Just 4.5 Km from Nazafgarh

    · 7 Km from Airport.

    Tentative details of Mahindra Aura phase 4 below

    Location -- Sec 110A

    –Phase IV Details

    -- Size 2300sqft (4bhk+SQ)
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  • Who will buy at 7000, when resale is 5500-5800?
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  • Originally Posted by amit001
    Who will buy at 7000, when resale is 5500-5800?


    very valid question...i too am wondering...prices are stagnant in 5500-5800 range and its quite frustrating.. :-(
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  • Agree....resale price should be 6500 :-)
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  • As per the Minutes of Meeting held in November, Mahindra Aura has applied for fresh EC for the Project Aura is sector 110-A , for which EC was given earlier in 16th June, 2008. The Builder has increased the total number of apartments significantly. Can someone throw light on this. The increase is from 3131 to 4447 without any change in land size or in FAR.

    http://seiaahry.in/50th%20meeting%20,minutes%20draft.doc


    -----------------------------------------------------------------



    The EAC of MOEF GOI in its 105th meeting held on 21st to 23rd 2012. September 2011 had recommended the amendment to the Environmental Clearance issued for construction of Residential Group housing of “Aura” at Sector – 110-A, Gurgaon, Haryana.

    The recommendation of EAC was considered in the today’s meeting and it was noticed that the project proponent was granted Environmental Clearance for the said project vide letter no 21-1009/2007-IA.III dated 16-6-2008 and now the project proponent has proposed certain changes in the project for which the EAC of MOEF GOI has recommended for amendment in the existing EC letter. The project proponent has proposed the following modification/changes:-
    S. No As per Environmental Clearance
    Clearance Order No. 21-1009/2007-IA.III
    Dated: June 16, 2008 Changes Required Remarks
    1 Total Site Area-17.16875 acres
    2 Total Area available for Development is 16.84 acres (68148.54 sqmt/733544.8 sq.ft) No Change
    3 Permissible FAR 1.75 (121588.12 sqmt/1308762 sq.ft. No Change
    4 No of Flats earlier- 587 No of EWS -98 No of Flats-801,
    No of EWS-141 Additional Flats – 214 Additional EWS – 43
    5 Total Number of Residents - 3131 Total Number of Residents – 4447
    Total Additional Residents – 1316


    While considering the proposed modification in the project proposal, it was noticed that there is no change in the plot area as well as FAR, however the Project Proponent has proposed addition of 214 no flats, 43 no of addition of EWS units, 1230 no additional residents and 86 no additional residents in EWS but at the same time the project proponent has proposed the reduction in water consumption, waste water generation, power requirement, power backup etc. Density of population is also severely affected due to above said modification in design. It was also found that the project proponent in the revised proposal submitted the water requirement calculation 86 lpcd instead of standard of 135 lpcd. It was also noticed that the project proponent has obtained the permission from the forest department regarding cutting of 106 trees but no permission was obtained in respect of cutting of Neem trees.

    After detailed deliberations, the following ambiguities were noticed:-

    Project involves increase in number of residential units, which requires complete change of utilities and infrastructure.
    Resource requirement remains more or less same in completely changed building designed.
    This involves increase in density within given area, how that fits into Town & Country Planning Department guidelines is not clear.
    Permission regarding cutting of Neem Trees is not clear.

    The Authority was of the view that this proposal of amendment in the Environmental Clearance letter granted to the unit earlier by MOEF GOI involves lot of changes in the water requirement/consumption, waste water system, STP capacity, power requirement, parking plan, RWH plan.

    After detailed deliberations the Authority decided to give project proponent one more chance to explain above mentioned ambiguities before the Authority.
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  • Hi friends,

    as the possesion is nearing, i have a doubt in my mind reagrding rentals from a 1550 sq ft 3 bhk? how much rent i can expect exclusive of maintaince? and will it be easy to find tennants?

    rgds

    deepak
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  • Originally Posted by dkukrety
    Hi friends,

    as the possession is nearing, i have a doubt in my mind regarding rentals from a 1550 sq ft 3 bhk? how much rent i can expect exclusive of maintenance? and will it be easy to find tennants?

    rgds

    deepak

    This Pocket ( 22,23,PV, NPV) gets most of the tenants from Udyog Vihar area and Bajghera Railway crossing, open drain and illegal settlements around mahindra are some of the big deterrent for these people to go for it and . Unfortunately none of these issues are in control of Mahindra or its potential residents. I personally like mahindra Aura and was considering it for self use in Oct'12.
    Rentals are down in 22/23, PV , PVR since Aug'12. I know few properties which have been rented out to new tenents even 10% lower value hence It will be tough to get tenants initially and expect 10-20% lower rent than prevailing market rents as far as i feel.
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  • I don't think rentals are going down in 22/23 or PV. Only issue in Aura is railway crossing, rest all issues are every where in Gurgaon
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  • I had heard there's a plan to have overbridge railway crossing. Not sure if anyone has an update on this.
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  • My visit to Aura

    I had visited the site yesterday. The approach road from Palam Vihar side is really in a bad shape and literally full of potholes at the railway crossing (even the tar is not visible at many places.Quite a roller coaster ride in the car.And yes the jam was there on the crossing even at 2000 hrs at night.

    The road in front of the project :- very few street lights and the area looks very gloomy at night. Though the road appeared to be little wider than the last time (last visit was in Feb 12, I am placed at Bangalore otherwise)

    regarding the project:- Met the site supervisor. he said the the company was planning offering initial possession of phase I flats in 3-4 months from now. All amenities may not be in place at the time of Phase I possession. However the work on all towers and amenities was on at a very brisk pace. Project wise:- no concerns on quality and time lines. The towers were looking majestic and the project has a considerable frontal on the main road:- a major USP of the project. Only delay is the factors external to project in following order:-
    (a) Railway crossing to Palam Vihar (Bhallaji could know if there are any plans for over bridge/under pass in short run):- Bhalla ji/ fellow boarders please comment
    (b) D Eway delays (this is not the most important factor as the area will be more than livable if ROB /under pass is constructed)
    (c) Widening of the front road (Proposed road is 60 meters I guess)


    The project in as is basis will surely have less rental value at least till such time good connectivity to Palam Vihar is established. A ball park figure of 30% less rental than similar society on the other side of Palam Vihar could be good estimate.
    Disclosure:- I have a 3 BHK+S at Aura Ph 4.

    Regards
    GD:)
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  • My visit to Aura

    My opinion on resale prices on Aura

    Overall, I got a good feeling and also a sense that the project holds a lot of promise which is not yet tapped...The price rise could start with the offer of possession to Phase I occupants and people starting to reside there. We would see a steep hike in prices when Palam vihar connectivity is sorted out (I don't know when).The situation will only improve if along with this, the price trend in Gurgaon starts picking up.(which would happen sooner or later...say within next 6-12 months)

    last big trigger will of course be DEWay coming up which will take the project pricing to another level...so sit tight and enjoy the ride.:)

    GD
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  • Good Analysis GD. Completly agree with you.
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