Dwarka disputed CGHS have been cleared, will it affect real estate projects in GGN?
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mkg007
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- Originally Posted by PankajSinghCurrently, It would not be wise to compare Dwarka with Dwarka Expressway.
Dwarka being in delhi will always have an upper edge.Price difference is huge.Dwarka Expressway is anywhere 3500-4500Rs per sq ft, Dwarka has a price tag of around 7000Rs per sq ft.
The CGHS flats which have been cleared recently are already owned.Where is the supply? These are not new projects.Owners of these flats who were living in the rented apartments will move to their dream homes.
This might impact the rent, which I am not sure will actually happen.
DEway has a huge potential and would enjoy the advantage of proximity to Dwarka.
Those who have invested on DEway, enjoy your investment.:)
Happy Investing !!
Pankaj
Pankaj... A lot of people are not aware of exactly what is this CGHS Scam all about. Briefly, as I put... a lot of members in these CGHS are bogus members, and a lot of investors who along with builders and RCS officials hold/held membership in these CGHS....
As a result, a lot of inventory is still with the builder, and because of the dispute, there has been no resale activity of these flats for last five years, and a plenty of these will be available for resale in coming months...CommentQuote0Flag - Quite true, people should ascertain facts before imaginary tale telling .Originally Posted by mkg007Pankaj... A lot of people are not aware of exactly what is this CGHS Scam all about. Briefly, as I put... a lot of members in these CGHS are bogus members, and a lot of investors who along with builders and RCS officials hold/held membership in these CGHS....
As a result, a lot of inventory is still with the builder, and because of the dispute, there has been no resale activity of these flats for last five years, and a plenty of these will be available for resale in coming months...CommentQuote0Flag - Both Delhi and Gurgaon are accessible.Originally Posted by agrim75there is no comparison between dwarka and gurgaon, delhi is delhi any day.More over targetgroup is totally different.In dwarka one can buy who is having huge amount of cash.If there is any option of buying 1 cr apartment with similar colored money dwarka has edge over gurgaon even though there are many problems in dwarka societies.In gurgaon if u just come out of your society you land in actual gaon and it is no more better than a hell.Dwarka has power,roads,schools,market,metro,close to airport,better bus servive now,connected to any part of delhi and gurgaon.
Absolutely right!! I am sure even now people who live in Dwarka but work in gurgaon do not want to shift to GurgaonCommentQuote0Flag - You are taking about 80% increase in the cost if. If someone has this much money to spend at one shot and is looking for end use now, he will go for dwarka anyday, no doubt about it.
Eway is for those who are not looking for end use in short term, are inclined to pay in installments and want to have a property close to delhi for less budget. Different segment of people.
If this inventory will have any impact, it should be visible on premium of dwarka dda flats in few months.
Originally Posted by MANOJaPrice difference is for -
Ready to move in & the difference in the infrastructure .
Possession time - We r talking about end users who have booked on the D e way, since they could not find anything better .CommentQuote0Flag - Let me put it the other way, D e way is for people who like to day dream a lot . LOL :D.
This inventory is a small part, the major part which would be coming is Delhi Master Plan 2021 .
Please take a look here -
Real Estate India - Gurgaon - Noida - Delhi - Mumbai - Pune - Chennai - Property Discussion Forum - www.iref.in - View Single Post - Chintels Paradiso - Sector 109 - GurgaonCommentQuote0Flag - 2021 plan will again affect dwarka more than anything else, if it becomes reality. With 30-50% primum on existing dwarka dda flats, I don't think people are worried about 10yr+ planning.CommentQuote0Flag
- D e way would take 7-8 years to become livable . 2021 will not be far away after 7-8 years from now . I hope u know that . LOL:bab (45): .CommentQuote0Flag
- And in 2021, companies will launch flats in delhi at less than current eway price !!! Wishful thinking !!
Any ways.. I am out of this discussion.CommentQuote0Flag - No, they would be definitely less than what the D e way Brokers r promising in the forum, prices of 35-40 K ( 15- 20 K in the next 2 years, as per many D e way gurus here, so expecting 40 K in the following 8years from now, is not stretching it too much ) . LOL .
There never was an discussion . There was no point to discuss .CommentQuote0Flag - New CGHS flat rate
I have gone through all the post in this forum but surprisingly no one knows the ground situation in dwarka. I have seen some of the rates quoted by the members but these rates are far away from reality.
The new cghs flats rates are unaffordable. There is no 3BHK flat new or old available for a price less thn 1 cr.
Brokers are quoting minimum price of 1.25 CR for 3BHK in new CGHS flats. The supply is also limited as most of the owners have already sold there flats on power of attorney and some of the flats where self draw was done by members have been already occupied.
One of the reason for the recent hike in price is dda scheme where yhey have sold 3BHK for 1 Cr+.
To give you one example of Gold croft society where draw was held 6 months back price quoted by brokers is 1.5 Cr for 3 BHK. Park view 3bhk + study is 2 Cr.CommentQuote0Flag - This comment indicates a pricing of approximately 6500-7000 psf in decent CGHS, which are ready to move in .Originally Posted by mkg007AmitMM... These three colleagues of mine have been looking for decent accommodation in Dwarka, but were unable to find one to their satisfaction, due to age of the construction and probably inferior facade as compared to newly constructed private condominiums in Gurgaon and Noida. However, the CGHS which were stuck for allotment are far superior than the old ones, as they were built almost at the same time when Gurgaon buildings were coming up. The CGHS in Dwarka didin't catch attention of buyers and investors in early 2000s due to two reasons.... one the connectivity was a big issue till Palam flyover and Sector 22 underpass became operational around year 2005... secondly due to lack of aggressive marketing, in fact no marketing at all as compared to private builders of Gurgaon or Noida.
These CGHS were actually hijacked by private builders of small to medium repute and the buildings were built almost in line with private buildings in GGN, however got stuck since the scam of buildings being hijacked was unearthed.(it will take a long description to explain what happened and how.. please excuse me on this). Now after almost five years, these CGHS have been cleared by Delhi Cabinet, and will be ready for possession in coming months one by one.
As far as these colleagues' projects are concerned, one has in Mahindra Aura, one in Raheja Atharva, and the third is CP-2 on Sohna Road. These colleagues of mine are getting deals in DWK at approximately 6500-7000 psf in decent CGHS, which are ready to move in, and that's why are looking for buyers for their projects. BTW, they are all end users and are not willing to hold multiple properties due to their budget constraints...Originally Posted by mkg007Workplace is IGI Airport, and hence DWK is preferred location, apart from Delhi tag, infrastructure, water/power issues, transportation, connectivity to airport etc. etc....CommentQuote0Flag - Originally Posted by vinaybhatiaAnd in 2021, companies will launch flats in delhi at less than current eway price !!! Wishful thinking !!
Any ways.. I am out of this discussion.
What a answer sirji.CommentQuote0Flag - Originally Posted by psambherI have gone through all the post in this forum but surprisingly no one knows the ground situation in dwarka. I have seen some of the rates quoted by the members but these rates are far away from reality.
The new cghs flats rates are unaffordable. There is no 3BHK flat new or old available for a price less thn 1 cr.
Brokers are quoting minimum price of 1.25 CR for 3BHK in new CGHS flats. The supply is also limited as most of the owners have already sold there flats on power of attorney and some of the flats where self draw was done by members have been already occupied.
One of the reason for the recent hike in price is dda scheme where yhey have sold 3BHK for 1 Cr+.
To give you one example of Gold croft society where draw was held 6 months back price quoted by brokers is 1.5 Cr for 3 BHK. Park view 3bhk + study is 2 Cr.
There is no psf rate for Dwarka CGHS flats as such, and the psf rates mentioned in my post earlier are rough idea of psf rate for a super built up area in comparison to other parts of NCR, as sold by private builders. In fact there is no super built up area calculated or clearly mentioned while getting membership of these CGHS, and as I have mentioned earlier there is no marketing or publicity done since it is not allowed as per Delhi Co-operative act/rules.
Coming down to prices, the price for an approx. 1300-1400 sft carpet area flat in existing CGHS Societies with clear title is roughly 1.2-1.3 Cr., which would be close to 9000 psf for carpet area. For CGHS, where sale is being done on GPA basis are available in the range of 1 Cr.(although risky and not advisable), and therefore for a super built up area of these flats(solely to compare with other flats available in GGN/Noida/FBD), the rate is 6500-7000 psf, as I have mentioned earlier. The cash component has come down considerably after Circle Rates have been doubled about 3 months back by Delhi Govt. As far as availability is concerned, there were a few available till about 10 days back, and now after Cabinet has cleared these CGHS for allotment, there a lot of resale activity happening. There are big brokers in Dwarka with very heavy Financing Capability, and are capable of providing flats in any CGHS you name.
BTW, Gold croft had its draw on 28th October 2008, not six months back, and the rates I have mentioned are for CGHS that have been cleared by Cabinet, and the flats are yet to be formally allotted by DDA. In fact, the thread is basically for these flats which would be ready to move in coming months, and there is no comparison drawn by me for existing DWK CGHS Flats with anywhere else in NCRCommentQuote0Flag - MANOJa...
Please read as ready to move in coming months... although they are actually ready, but will be available only after they are formally allotted by RCS/DDA after following the allotment procedureCommentQuote0Flag - mkg, thanks for all the information . A relative is looking for something for self use in this area . Would ask him to have a look .
Would request u to share any more info., u have on CGHS Flats .CommentQuote0Flag