I am looking at the Spaze Privy, Sector 72, Gurgaon . Please can the members who know about this project advise on how good/bad this is. They claim that it will be delivered in 1 year from now. What do you guys think?

What price would be the right price to buy into this project?
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  • Friends, I have received a mail from Spaze regarding TDS to be deducted by the buyer from sellers payment. As I understand,in most of the cases only last installment is due. Does it mean that 1%tds is to be deducted from the last installment amount or on the basis of total consideration. Further what happens if the unit has been purchased in resale in April 2013, and only last installment is pending. What will be the total consideration for a 1600 sq ft unloaded apartment. I am quite confused. Could anyone clarify. Thanks and regards.
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  • Has Spaze already applied for OC, or any plans we guys are aware of?

    As per my understanding Tower F, G and H are on very advanced stage but other towers A to E are still away from possession, in such case would it increase time to get OC from government authorities. Since it is not easy to get OC for few towers these days, as with the case of Tulip Orange.

    Originally Posted by ravi2010
    Hi all,

    Visited the site today.

    F tower - Till 12th Floor apartments are complete and locked
    G Tower - Till 11th Floor apartments are complete and locked
    H Tower - Till 5th Floor apartments are complete and locked

    Tentative possession date for For F, G and H tower - Oct end /Nov. As per spaze there will start sending the possession letters from october onwards in this order F G and H.

    Registration has to be done within 2 months .... will like others to update.

    Is there any increase in super area for apartments?
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  • Originally Posted by Krishbharti
    Friends, I have received a mail from Spaze regarding TDS to be deducted by the buyer from sellers payment. As I understand,in most of the cases only last installment is due. Does it mean that 1%tds is to be deducted from the last installment amount or on the basis of total consideration. Further what happens if the unit has been purchased in resale in April 2013, and only last installment is pending. What will be the total consideration for a 1600 sq ft unloaded apartment. I am quite confused. Could anyone clarify. Thanks and regards.


    I am also received the same mail.1% TDS is to be deducted when the last installment demand is sent.
    Basically we pay 5k challan to gov for a 5 Lakh demand and pay the builder 4.95lakh and provide the snapshot of th challan.

    1% TDS is applicable only for sale-purchase of property more than 50 lakhs from 1st June
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  • Well Ravi, the point is that whether the TDS is to be deducted at 1% of the last installment or on the total value of the unit. My query was that in case it is to be on the total value , then what will be the total value for the purposes of TDS ? Perhaps certain charges may be e secluded eg the car park slot, or the club charges etc in which case the price of the 1600 sq ft unit might fall below rs 50 lacs. I wrote to spaze also and am awaiting their response. In case you or any other member can throw light, I shall be grateful.
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  • 1% of the final demand which will come for F G and H towers in October or November.

    In case your are selling then 1% of the of the total sale value in case it is more than 50 lakhs .

    I hope this clears your doubt
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  • What's the ongonig resale rate? Also, when can one can expect the possession of Tower A?
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  • Guys, any answers to my questions asked earlier regarding OC of this project?
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  • Originally Posted by ravi2010
    1% of the final demand which will come for F G and H towers in October or November.

    In case your are selling then 1% of the of the total sale value in case it is more than 50 lakhs .

    I hope this clears your doubt

    Thanks Ravi, TDS will be 1 % of the final installment but only if the total cost is 50 lacs or more. I think, The cost of the 1600 sq ft apartment alone excluding car park and club charges will be less than 50 lacs in which case no tax will need to be deducted. Am I right Me. Ravi?
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  • Krish, you did not get right.

    1% TDS we need to pay to the government since it is still under construction property for the last demand which we are likely to receive shortly. It is not possible that that your 1600sft unit is less than 50lakhs as EDC/IDC/cark park etc will also be included in the total sale price of the property.

    If you are buying a unit now from market and the property is above 50 lakhs, you have deduct 1% TDS from the total sale price and pay to the government
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  • Originally Posted by elbis123
    What's the ongonig resale rate? Also, when can one can expect the possession of Tower A?


    7000+ for 1600 and7300+ for 1800 and above depending on location/floor no etc.

    Tower A should get delivered before Diwali of 2014.
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  • Originally Posted by himrathore
    Guys, any answers to my questions asked earlier regarding OC of this project?


    The only information i have is Tower F,G and H will be given possession before any other towers in Oct/Nov.

    Also these 3 towers are build by DV Buildwell construction partners and other towers are build by some other construction partner.

    Will try to post more inside information on this
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  • Oct/Nov is very close, and if Spaze has to honor this commitment they should have applied for partial NOC by now. Let me know if you get any information about it.

    And any information about EWS construction and allotment, since that is also mandatory these days to get OC.
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  • Originally Posted by ravi2010
    Krish, you did not get right.

    1% TDS we need to pay to the government since it is still under construction property for the last demand which we are likely to receive shortly. It is not possible that that your 1600sft unit is less than 50lakhs as EDC/IDC/cark park etc will also be included in the total sale price of the property.

    If you are buying a unit now from market and the property is above 50 lakhs, you have deduct 1% TDS from the total sale price and pay to the government

    Thanks Ravi. I purchased in resale in the month of April 2013 ie before 1st June when the law had not been passed. So as I understand, I will have to deduct 1% from the last demand and deposit with the govt. I think Spaze should be accounting for delay penalty while raising the last demand.so the % TDS will be deducted from that value. I think my understanding should be correct. While Spaze have written about the TDS, they have not mentioned about the likely date when they will offer possession. Hoping for the best.
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  • Originally Posted by himrathore
    Oct/Nov is very close, and if Spaze has to honor this commitment they should have applied for partial NOC by now. Let me know if you get any information about it.

    And any information about EWS construction and allotment, since that is also mandatory these days to get OC.

    You are right sir, As per govt instructions possession can be offered only after OC has been obtained. In case Spaze intends to give possession in Oct/Nov, they must get OC before that and for this purpose necessary services viz electricity and water availability should be ensured.keeping my fingers crossed.
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  • Anyone tried to check with builder of they have applied for part OC? And what is with EWS, have they done the allotment?

    That is also a necessary checkpoint to obtain OC, these days.

    Originally Posted by Krishbharti
    You are right sir, As per govt instructions possession can be offered only after OC has been obtained. In case Spaze intends to give possession in Oct/Nov, they must get OC before that and for this purpose necessary services viz electricity and water availability should be ensured.keeping my fingers crossed.
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