Came across this project while googling

http://www.aezindia.net/index.aspx?a..._overview.aspx

I am looking to buy for end use. However not sure about delivery of the project. Seems like its already a delayed project. Can someone advice here? Any update on construction and delivery of the project?
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  • What is the existing per sq ft rate there and what will be the completion timeframe?
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  • Originally Posted by abbey4u
    Came across this project while googling

    http://www.aezindia.net/index.aspx?aspxerrorpath=/gurg_overview.aspx

    I am looking to buy for end use. However not sure about delivery of the project. Seems like its already a delayed project. Can someone advice here? Any update on construction and delivery of the project?



    AEZ is notoriously famous for non delivery of their projects. They have several semi finished projects & investors who have invested with them , r badly stuck up . Search the web, for numerous complaints against this builder.
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  • I understand that the developer has delayed this project, But so were some of the other project by most of developer during recession. I had a chat with one of broker, and he mentioned the construction has restarted again, May be bad for investment, but still not bad for end use (if they still complete the project) within one year or so.

    But the broker may be wrong as he is trying to sell it. price quoted was 3500 psf
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  • Originally Posted by abbey4u
    I understand that the developer has delayed this project, But so were some of the other project by most of developer during recession. I had a chat with one of broker, and he mentioned the construction has restarted again, May be bad for investment, but still not bad for end use (if they still complete the project) within one year or so.

    But the broker may be wrong as he is trying to sell it. price quoted was 3500 psf


    On resale , it's available at 3100-3200 , but u never know whether the builder will complete the project or not.
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  • I also got to know about this project ,, 3200 sqft rate at golf course extension road seems too good !!!!!!!!!!!!!manoja pls comment .... if good to buy for end use
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  • Originally Posted by tsindhwani
    I also got to know about this project ,, 3200 sqft rate at golf course extension road seems too good !!!!!!!!!!!!!manoja pls comment .... if good to buy for end use


    A good buy , if it gets completed in time. Otherwise , yr. money is stuck up. So , weigh yr. options. If u r looking for high risk with decent returns, go for it. If u like to play it safe, forget about this project.
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  • thanks for the input manoja,,, broker claims rate will be 5000 per sqft in 1 yr time.... can u comment on the location ??? is it at a good location ?
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  • Originally Posted by tsindhwani
    thanks for the input manoja,,, broker claims rate will be 5000 per sqft in 1 yr time.... can u comment on the location ??? is it at a good location ?


    The location is good. Please ask yr. broker to explain , why this project is available at 3000/3100 , when everything around it is 4000 plus.This project was launched sometime in 2005 & is still not completed. This is the fate of many other projects of this builder.
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  • Recently I visited site of Aloha, and it is near completion (as per the builder). Members can you please comment if it is a good buy at this point of time. How is the construction quality and location.
    Thanks
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  • Dear Members, Kindly comment.
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  • I live right across this site and for the past 3 years there has been very little progress on the site - however they have managed to bring 1 tower to a position where they might be able to deliver in the next 1 - 1.5 years - there is no clue when will they deliver the remaining towers. Even if they deliver the single tower - what about the amenities - in my sense the construction for the club house/pool etc has not even started??? would you want to invest with a developer who is struggling to deliver. I had also seen an ad in the TOI & ET from these guys wanting construction material in barter - well you can imagine the financial desperation these guys are in. And who knows at the time of possession (if it happens ever) what all extra charges will they ask for - something what the Legend guys are doing. So it's your own calculated risk that you take.
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  • Is the Legend being handed over?

    Whats the resale price and other charges?
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  • Thanks Sushant for the reply.
    Magadh_Pride : I visited Legend and Aloha last weekend.
    In Legend some towers have been given possession and people are living there. Parks and all are being developed while the club house, some towers and few vilas are under construction. I had a talk with some residents there and they were quite satisfied with the quality(though not fully satisfied) but they complained about the delays in the project. Company is now quoting a price of 6100 psf. While in resale you might get a better price.

    For Aloha, you get almost similar layout flats at much lesser prices. Still all the towers are under construction and no one knows when it will get completed.I liked the layouts of the flats (very spacious). But I am not sure about the reputation of the builder and really doubt about the quality of the delivered product. So I am looking forward to get advice from senior members.
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  • All inclusive 6000 psf is not a bad price for the RTM flats at this location as the layouts are good and what I saw in specs was high-end at the time of luanch.

    Not sure though about how the end product fared and if it lived upto the rich specs and quality promised in brochures...


    Originally Posted by ShwetaV
    Thanks Sushant for the reply.
    Magadh_Pride : I visited Legend and Aloha last weekend.
    In Legend some towers have been given possession and people are living there. Parks and all are being developed while the club house, some towers and few vilas are under construction. I had a talk with some residents there and they were quite satisfied with the quality(though not fully satisfied) but they complained about the delays in the project. Company is now quoting a price of 6100 psf. While in resale you might get a better price.

    For Aloha, you get almost similar layout flats at much lesser prices. Still all the towers are under construction and no one knows when it will get completed.I liked the layouts of the flats (very spacious). But I am not sure about the reputation of the builder and really doubt about the quality of the delivered product. So I am looking forward to get advice from senior members.
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  • Guys,

    Anyone has idea in case bank is funding on this project. As per my knowledge, per RBI instructions funding can not be done for projects which are under construction from more than 5 years.
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