I have heard that Vardhman Group is coming up with a Group housing society in Sector 67 . The society would have only 2 BHK's of about 815 sq. feet .

The total cost involved is about 16 L cheque & 10 L cash .( cash to be paid at the time of booking )

Anybody aware of this ? Any information on the builder ? I understand that this is a Jaipur based group .
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  • Originally Posted by amit2222
    26Lacs is all inclusive price for 815 sq ft. Roughly 3200 psf.
    Location is in between Ireo Victory Valley and Mahendra Meadows adjoining a sector road.
    Initial payment is 10 Lacs (cash with no receipt) and 1.6L booking amount.
    Vardhman has done some commercial projects in Noida/Gr. Noida and few residential including a recent studio apartment project in Gr. noida.

    How fair it is to pay 11.6L on booking (over 40% cost) to a lesser known builder who has to start construction but delivery promised within 3 years?



    this is an affordable housing scheme which is subsidised by the govt . One cannot sell for 5 yrs from date of possession( that means roughly 8 yrs from booking ) .
    Timely delivery can be guaranteed though as the govt. will decrease subsidy/fine the builder if it delivers SUBSTANTIALLY LATE !!!
    The catch is the 8 yr lock in period !! otherwise its adecent propostion for someone with a vision of holding for that long or for end use as well .
    the high initial investment though is not a matter of raising eyebrows , it is a decent proposition still !!!
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  • What about the quality issues ? Have u seen any projects of this builder . Yeh na ho, ki 8 saal baad jab bechne ka time aeye, tab tak society ki/apartment ki condition aisi ho , ki koi kharedena ko ready na ho .
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  • Hi All,

    I have seen their greater noida project. Their studio apartments are a big success there. They have leased it to Royal Orchid Group of Hotels and have also tied up with Ginger Hotels.

    Is this project in Gurgaon in its pre launch phase?

    Did u came to know about it from a broker or from the company itself?

    I would like to know if the project is viable wrt its price and location.

    Thanks
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  • I got the information through a broker . Contact a few of the brokers, most of them, have this info & i understand that the prelaunch bookings r in process .

    The location looks decent, though have not seen it personally . Price is pretty decent, if u r comfortable with the 10 L cash element & the 8 years lock in, which Ishanb, was talking about .
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  • I just had a talk with a broker and he seems to have no information about who the builder is. I think it is not the same Vardhman group who has projects in greater noida.

    This one is another Vardhman Group.

    Can Anybody confirm this.
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  • No idea, i was told by a broker that this is a Jaipur based group . The truth, only god or the broker knows . :D
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  • I got to know that this is not the same Vardhman group which is based in Greater Noida.
    This is a new group and this is their first project. It is a govt. funded project and the cost is 16 lacs plus a premium of 9-10 lacs.
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  • Bhai, prelaunch main kaunsa premium aa gaye . It is just another way of generating No. 2 ka paisa .
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  • Group is good. The scheme of sector 67 is only for Govt Haryana employee's working as class 1 & 2 officers.

    Originally Posted by MANOJa
    Bhai, prelaunch main kaunsa premium aa gaye . It is just another way of generating No. 2 ka paisa .
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  • Originally Posted by harishgarg1326
    Group is good. The scheme of sector 67 is only for Govt Haryana employee's working as class 1 & 2 officers.


    the group is decent and aisa nahi hai that only haryana govt. employees can buy . this has been around since last 5-6 months , started at around 23L i guess !!

    And manoj quality ka issue nahi utha sakte iss pricing mei , if you have long term vision and even if the flat is raw , it is stil quite a decent buy , one can easily lease it out at 12-14 k on completion !!! decent buy for someone who wants to hold on for 8 years !!1
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  • Ishanb, as the project land is subsidized by the govt., a rate of about 3200 psf should ensure decent quality . The rate of 3200 is because of the fact that it is subsidized, otherwise this one also would have been between 4000-5000 psf.

    So basically, builder is looking to charge the market price less the subsidized portion on the land & hence the question of quality .

    This is my thinking Correct me, if i am wrong ( i am assuming that this is a prelaunch & the builder is digesting the 10 L, cash premium & that the subsidy is only on the land ).
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  • Originally Posted by MANOJa
    Ishanb, as the project land is subsidized by the govt., a rate of about 3200 psf should ensure decent quality . The rate of 3200 is because of the fact that it is subsidized, otherwise this one also would have been between 4000-5000 psf.

    So basically, builder is looking to charge the market price less the subsidized portion on the land & hence the question of quality .

    This is my thinking Correct me, if i am wrong ( i am assuming that this is a prelaunch & the builder is digesting the 10 L, cash premium & that the subsidy is only on the land ).



    You could be completely right , but what i feel is that one shouldnt expect quality better than a DDA Flat !!! The project should be decent though !!!
    From what i know is that they soft launched around 23 L (16 +7), and from then on the parchis have been moving around on a premium , although the 1.5 L cheque amount demanded has not been physically taken and not been debited by vardhman, although they might have informally accepted photocopies of cheques or something (like in case of ireo skyon and tata sec 72 ) and assured allotments !!!
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  • Manoj

    Thanks for starting the thread. Mere moo main paani aa raha hai. but i dont have money now. Till now Looks like a good project for end users. Agar aisai projects Gurgaon main aate rahe to Investors ka kya hoga bhai.

    Let us see how it turns out.
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  • Study it well, before getting into it .
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  • as time passes by more information will come on this , but with so many other projects offering at a unreasonable price this seems to be a good option.
    Builder could be new but govt intervention is there in the project so we can expect a good property on time.
    Experienced guys can comment on this.
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