Gurus,

I have zeroed on Vatika Next Bellevue Residence 240 Sq yard Simplex Villas . Is it good investment 1.2cr - 1.3 cr range. As I checked Nirvana country 2 simplex villa for which asking is from 1.95 cr - 2 cr ..

I am aware of Vatika's pathetic crm department and late delivery practise but I previously hold one of Vatika's property which gave me exceptional returns and construction quality was not bad.

I have time frame of 5 years for this investment and I am targeting 2.5 cr target for this villa investment once property is ready and people starts moving in nearby properties.

Please, let me know your views on this as I have to take decision soon.

Thanks in Advance
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  • For CLP 3 payments have gone around 27 lakhs. Yeah if he didn't mentioned this earlier stick to the price mentioned on agreement.. Best Wishes!

    Originally Posted by chattri
    Thanks Manuji!!
    One last question..could u pls tell me how much pay is done under CLP scheme .For subevtion scheme he has paid 20% till date.

    If he has bought the villa on subvention scheme he has enjoyed the benefit till date by paying very minimal amount..so if its converted into CLP, i have to make the pay as per construction..so need to make more pay compared to subvention scheme..even to covert from subvention into clp, i have to pay another 10%...so i think he shd consider his login price as 84 lac and not 76 lac....

    thanks
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  • Chattriji,

    From your point of view you should stick to 84.0L ... Also note that under subvention scheme you need to pay upto 25% of the Villa Price + The Bank ( Indiabulls ) will have to pay another 25% right now to Vatika. In other words Vatika will get about 50% payment without even laying a single brick on your Villa ...

    Moreover the Subvention Scheme is for only 2 years and going by the pace of work at the site I am not sure if this time period is good enough.

    As per my information the Subvention Scheme closed on 30/06/2012. I am not sure but if you insist or speak to Vatika / Indiabulls guys you may still manage to get the same. Vatika should be more then happy to offer you the same since they get to receive 50% payment upfront !!!


    Originally Posted by chattri
    Dear Saibalji/Kapilji
    Finally i got the tranfer date for villa, there was some dealy due to some documents and secondly u knw v well how vatika CRM works, especially wen u r nt in india.

    I have one query,the villa i am buying, was on subvention scheme (84Lac), but now the broker is saying that all the villas has been converted into CLP plan (76 lac) and as we agreed to make the deal on 1.60 cr.so now shd i pay him the premium on the basis of 84 lac or 76 lac.

    secondly is it not possible to contiune Subvention scheme?
    Pls give ur valueable suggestions..

    Thanks in advance!!!
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  • Guys,

    Talked to my broker today as per him Villas possession will be offered by mid 2013 and Vatika will start offering possession for floors from Dec,2012 . So get ready with the finances payment requests are coming your way soon :) ..

    BTW here is milestone link of Vatika where it has listed March,2013 for Villas..

    Vatika Group milestone |Vatikagroup.com|

    Cheers!
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  • brother construction dekho 2013 me bhi nahi milte possesion builder to juth bolta aur bolega hi..pehle site visit karoo then idea lagaoo possesion milege vatika ke..
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  • I agree what you are saying but looking at Emilia,Iris construction status builder can deliver it by end of year as only roads are left and many floors are already ready.. Personally I want villas to be delayed till 2015 but let us see why builder is quoting December 2012 everywhere and now brokers are also quoting the same date for floors..

    Wait and Watch..
    Originally Posted by yugal123
    brother construction dekho 2013 me bhi nahi milte possesion builder to juth bolta aur bolega hi..pehle site visit karoo then idea lagaoo possesion milege vatika ke..
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  • Possession date of ... Middle of 2013 for the Villas looks to be too ambitious. May be it will be some time in 2014 ...

    Also with the present water woes things will only get more delayed I guess ...

    Can you please find out from your Broker why only Indiabulls is financing these Villas as the moment ( No Govt Banks are financing Vatika projects to the best of my information ) ... Is it because Vatika has still not got all the necessary approvals for these Villas ?

    Originally Posted by manu813
    Guys,

    Talked to my broker today as per him Villas possession will be offered by mid 2013 and Vatika will start offering possession for floors from Dec,2012 . So get ready with the finances payment requests are coming your way soon :) ..

    BTW here is milestone link of Vatika where it has listed March,2013 for Villas..

    Vatika Group milestone |Vatikagroup.com|

    Cheers!
    CommentQuote
  • Yup it is ambitious...I will try to get info regarding bank/loan from my broker but what does Vatika says regarding this. Did you checked with them?

    I think best way would be to call different bank representatives to check why they are or are not disbursing loan for this project. They can give real info..

    Originally Posted by saibal
    Possession date of ... Middle of 2013 for the Villas looks to be too ambitious. May be it will be some time in 2014 ...

    Also with the present water woes things will only get more delayed I guess ...

    Can you please find out from your Broker why only Indiabulls is financing these Villas as the moment ( No Govt Banks are financing Vatika projects to the best of my information ) ... Is it because Vatika has still not got all the necessary approvals for these Villas ?
    CommentQuote
  • Originally Posted by manu813
    Yup it is ambitious...I will try to get info regarding bank/loan from my broker but what does Vatika says regarding this. Did you checked with them?

    I think best way would be to call different bank representatives to check why they are or are not disbursing loan for this project. They can give real info..


    Dear Manuji/Saibalji
    Finally tmrow is the transfer date for villa.
    Pls let me know what are the documents we shd look carefully and what the question we shd ask to Vatika?
    is there is any specific thing u want me to ask to vatika..do let me know?

    My dad will handle ething on my behalf, as he is doing it first time and does not have knowledge about realestate so need to tell him exactly what to do..
    vatika ka track record dekhte hue thoda sawdhani bartana jarauri..as we say..sawdhani hati.durghatna gati...

    so ur valueable inputs will be highly appreciated..

    Thanks!!
    CommentQuote
  • Chatri Ji,

    Congrats! You should confirm from Vatika that there is no due payment from seller left. Rest all is simple.Vatika will take 1 month to complete the transfer process once your father and seller will sign the papers.

    Couple of questions if you can get answers for :-
    1.) As Saibal asked "What all banks financing this project? And if only Indiabulls is doing why not any nationalized banks ."
    2.) Is construction started and by what time we can expect next payment request and what is possession time vatika is targeting for.
    3.) Are all approvals in place for this project.It would be great if your father can verify those.
    4.) When is the road approaching these villas will be ready .
    5.) If they have dispalyed the model of this township as in Video would be great to take some snaps of it.

    Hope it is not too much :) :D

    Thanks in Advance!

    Originally Posted by chattri
    Dear Manuji/Saibalji
    Finally tmrow is the transfer date for villa.
    Pls let me know what are the documents we shd look carefully and what the question we shd ask to Vatika?
    is there is any specific thing u want me to ask to vatika..do let me know?

    My dad will handle ething on my behalf, as he is doing it first time and does not have knowledge about realestate so need to tell him exactly what to do..
    vatika ka track record dekhte hue thoda sawdhani bartana jarauri..as we say..sawdhani hati.durghatna gati...

    so ur valueable inputs will be highly appreciated..

    Thanks!!
    CommentQuote
  • Chattriji,

    Congrats ... once again !

    Other then all the important points raised by Manubhai please see if your father can get the following :-

      Ask Vatika for the final approved Floor Plan / Layout of the Villa since the one shown in the BBA is the Old one and not valid anymore ( New Floor Plan as being shown on their website )
      Also check if there is any increase in the Area ( Original Built up Area of 240 SQYD Simplex Villa was 1527 SQFT ) of the Villa since as per the new New Floor Plan Vatika is showing an extra Store Room in the first Floor which was not there in the Original Layout shown in the BBA ...
      Make sure that Vatika updates the New Floor Plan in your BBA if possible with Vatika Company Seal & Signature along with Sector 82D New Site Plan done during the Re-Allotment.
      Check the BBA Date and as per it Vatika ( Clause 12.5 / Page 15 ) is suppose to handover the Villa with in 3 Years of the BBA Date or pay Penalty ... Try to find out if Vatika is willing to pay the penalty of Rs. 5/- Per SQFT. I am sure your Orginal BBA Date will be some time in 2009 ... So 3 years will be over by this year end ( 2012 )
      All the Best !!!

      Originally Posted by chattri
      Dear Manuji/Saibalji
      Finally tmrow is the transfer date for villa.
      Pls let me know what are the documents we shd look carefully and what the question we shd ask to Vatika?
      is there is any specific thing u want me to ask to vatika..do let me know?

      My dad will handle ething on my behalf, as he is doing it first time and does not have knowledge about realestate so need to tell him exactly what to do..
      vatika ka track record dekhte hue thoda sawdhani bartana jarauri..as we say..sawdhani hati.durghatna gati...

      so ur valueable inputs will be highly appreciated..

      Thanks!!
    CommentQuote
  • Chattri Ji,
    How did it go.. Any updates :)

    Thanks!

    Originally Posted by chattri
    Dear Manuji/Saibalji
    Finally tmrow is the transfer date for villa.
    Pls let me know what are the documents we shd look carefully and what the question we shd ask to Vatika?
    is there is any specific thing u want me to ask to vatika..do let me know?

    My dad will handle ething on my behalf, as he is doing it first time and does not have knowledge about realestate so need to tell him exactly what to do..
    vatika ka track record dekhte hue thoda sawdhani bartana jarauri..as we say..sawdhani hati.durghatna gati...

    so ur valueable inputs will be highly appreciated..

    Thanks!!
    CommentQuote
  • Hello Manuji
    Seller had some family problem so could not come for transfer.
    The next transfer date is 30th July I will keep u psoted.

    Thanks!!
    CommentQuote
  • Originally Posted by manu813
    Chattri Ji,
    How did it go.. Any updates :)

    Thanks!


    Hello Manuji
    Finally the transfer is done...and feeling bit releived..as buyer was bit difficult..
    My dad got following feedback from vatika:
    1.Construction of roads has already started.
    2.The possession will be given in 2 years time so possession in 2013 seems difficult.
    3.Earlier big and small were together.but now they have segregated small and big villas and 24m roads will be built on both sides of villas so all the villas will be 2 side open.
    4.According to them all the approvals are in place.

    At last moment, the buyer created some problem as he was getting calls from broker between 1.7-1.8 cr.so he has feeling that he is selling at less price compared to mkt price..but finally the deal was closed..nd transfer was made.
    As far as i knw the prices have gone up in last 2-3 months as plots prices are also touching 62k(Non gated) in sec 82...as per broker the price of villa will touch at around 2 cr by the end of this year..most of his prediction goes right as he is one of the biggest broker of vatika and has good connection.....
    I feel..i made a right decision..as future seems promising.....
    Lets keep sharing whatever information we have..............

    Cheers.......
    CommentQuote
  • Chattri Ji,
    Congrats again and Thanks for the update. Good to know that everything went well .. 2 years for possession make sense ...

    Yeah these villas are still very much undervalued as comparison to other similar kind of products in market.. They are bound to go up ...

    It all depends on how vatika executes this project.. I am convinced it is going to be a multibagger...


    Originally Posted by chattri
    Hello Manuji
    Finally the transfer is done...and feeling bit releived..as buyer was bit difficult..
    My dad got following feedback from vatika:
    1.Construction of roads has already started.
    2.The possession will be given in 2 years time so possession in 2013 seems difficult.
    3.Earlier big and small were together.but now they have segregated small and big villas and 24m roads will be built on both sides of villas so all the villas will be 2 side open.
    4.According to them all the approvals are in place.

    At last moment, the buyer created some problem as he was getting calls from broker between 1.7-1.8 cr.so he has feeling that he is selling at less price compared to mkt price..but finally the deal was closed..nd transfer was made.
    As far as i knw the prices have gone up in last 2-3 months as plots prices are also touching 62k(Non gated) in sec 82...as per broker the price of villa will touch at around 2 cr by the end of this year..most of his prediction goes right as he is one of the biggest broker of vatika and has good connection.....
    I feel..i made a right decision..as future seems promising.....
    Lets keep sharing whatever information we have..............

    Cheers.......
    CommentQuote
  • I went to attend a B'day Party at VATIKA CITY on SOHNA ROAD.

    And my first reaction was : WOW.

    This is one of the finest complexes... particularly, the Low-Rise Apartments. Totally, occupied. And Looked very UPSCALE and EUROPEAN.

    If you must trust a builder by the projects he has delivered, I guess VATIKA comes close.

    Disclaimer: I do not own or plan to buy any property in a VATIKA PROJECT in near future. The views are just a reaction after the visit.

    NOTE: Posted from Another Thread.
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