Hi All,

I joined this group recently and having very less experience of RE and searching flat for personal use.Seeking help from senior members .

I like SKYZ-Sector 37D in last 2 week research but i have to streatch 10-15 lakhs for getting it

Some of my concerns are

1)Is it worth to take extra pain for ramprastha or i can get some other similar projects in my budget on searching more, If yes could you please suggest ?
2)All builder are showing EDC/IDC as 335 while it has changed to 254 long back by haryana govt .When this changed charges will take effect ?
3)Any broker discount for ramprastha ?
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  • Looking for an investment with Peace of Mind

    Originally Posted by rahul88
    Is there a 1year lockin or resale is totally not allowed. Its big point of concern considering the fact the entry is price if quite high for this sector 37D.

    My another concern is that the bigger projects townships (450acres) have high risk if they don't turn up good. Since a lot depends on single entity i.e. builder only whereas in other areas there are many developers and potential appreciation is much faster.


    Hi
    Greetings

    Ramaprastha is a very genuine and reputed builder and has won continuous renditions and accolades for their past performance. So no doubt about the builders integrity or ethical offering.

    Having said that most builders have earned a very very -ve trust equity with small unit purchasers who have no might or wherewithal but to get frustrated. Just to quote a typical example of a leading builder and his nefarious intentions driven by the lust of supernormal profits by hoodwinking a small investor Mr disturbious.
    Builder "A", whose director is Mr Desi launches a project and gets subscription for Rs100 per unit, sells the project to "B" in a JV 49% in 2 Years for 150 per unit. "B" sells it over to FDI multinational, big dollar man Mr Khalifa al burj al falanah al mastana "C" in yet another year for Rs250 per unit. Lured by the profit Mr desi , director of company A sells his stuff to C as well Rs300 per unit making 3 times his expected profit.

    In the mean time a small investor Disturbious keeps counting his money as he bought at 100 and keeps bloating like a rainforest toad and becoming pink like candy floss

    Now after 4-5 years "C" for xyz reasons sends a letter (immaculately drafted by a team of senior lawyer, retired and paid bureaucrats, judges) to all small harmless insignificant buyers stating that "as per terms and conditions of BBA unfortunately you, Mr Disturbious small investor, cannot be alloted any unit but will be happy to pay you your principal for Rs100 per unit with 6% pa simple rate of interest".:bab (45):

    Now Mr Desi Director company "A" is no where in the picture and pleads innocence and the Director/owner of C who is a big FDI with operations in 10 countries is not approachable..

    Imagine yourself in this situation.. If you thinks this cannot happen you are a dreamer and living in eutopia. Also image that Mr Disturbious was an in..der

    Check link Homes from Hell for other things to be careful about..
    https://spreadsheets.google.com/ccc?key=0Ahk_8tfSUql8dDloWnl4bXFvSjJ6TTB0Uk8taFp2bXc&hl=en&authkey=CKjfg6cD#gid=2

    Cheers
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  • No i am not pointing towards one builder, but please understand i was putting my point in general way. Developing a complete township required lot of initiative.

    Btw if Ramprastha is such reputed builder then how come this project is still available in original booking for past 1year at same price. They are unable to dump their inventories.
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  • Originally Posted by manu813
    India Property Invests Rs 120 Crore In Ramprastha's Gurgaon Project


    Private equity firm India Property Fund has picked up a 49% stake in Ramprastha Group's housing project Skyz in Gurgaon for Rs 120 crore.
    The project, being developed on 13 acres in Sector 37D on the Dwarka Expressway in Gurgaon, is part of the company's integrated township Ramprastha City. The company's chief executive officer Nikhil Jain confirmed the deal.

    About half of the Skyz project, which will have close to 700 luxury apartments, has been already sold by Ramprastha . The money raised from India Property Fund, which is managed by nonresident investor Purnendu Chatterjee's TCG Real Estate and US-based Vornado Realty Trust, will primarily be used for development of Skyz. "Some part of it will also go for other group housing projects in Ramprastha City," said Jain.

    DTZ was the transaction advisor for the deal. The 450-acre integrated township will include grouphousing , plots, commercial, institutional space, retail, hospitals and an SEZ as well and the company is targeting revenues of over . 8,000 crore from it over the next 6-7 years. In the last two years, investing at the project level has been the preferred route for most PE funds in the real estate space.

    Source: Economic Times By Ravi Teja Sharma India Property invests Rs 120 crore in Ramprastha's Gurgaon project

    It incraeses the credibiity of Skyz
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  • Originally Posted by durb100us
    Their master layout of entire 450 acre can be only accessed at their Sec 44 office.

    There are Villas - next to Skyz and Edge , Plots, Hospital, Vasant Valley school ( Vasant Kunj - Delhi ), Commercial , Retail mall & Police station.

    Also there are few future residential project land for residential.

    The exact location of Edge & Skyz ca be seen thru wikimapia. Its the D shape block, next to Dwarka Expressway. Skyz and EDGE are opposite to each other

    When I spoke to the company, it said the map will keep on changing as it is a very big project.
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  • This is a duplicate thread & is being closed .


    For further information & discussion on this project, please visit:


    https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/gurgaon-real-estate/12070-ramprastha-skyz-in-dwarka-expressway-sector-37-d-gurgaon?t=14421
    CommentQuote