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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  • Thanks for the pics..during ur visit did u notice whether the construction was going on or not? As i cant c ny labour or any other activity going on.

    As i heard that there was some internal road dispute and const was stopped..could u give ur feedback...
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  • Construction was much slower than when I visited in Sept/Oct last year and as you mentioned labourer were less this time around. Having said that they have made developments in this overall space since last six month.

    Regarding internal road dispute etc I am not aware so much as to what is happening. I went from highway link road towards Dwarka link road side and could reach this place towards signature villa 1.

    What is not working is signature 1 linkage from lamps avenue and also what is not working is central corridor linkage to dwarka link road.

    Clearly there is some problems there with respect to roads.

    My sense is that it is just matter of time but I may be wrong.
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  • please find photo
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  • Originally Posted by Diwana
    Construction was much slower than when I visited in Sept/Oct last year and as you mentioned labourer were less this time around. Having said that they have made developments in this overall space since last six month.
    Regarding internal road dispute etc I am not aware so much as to what is happening. I went from highway link road towards Dwarka link road side and could reach this place towards signature villa 1.
    What is not working is signature 1 linkage from lamps avenue and also what is not working is central corridor linkage to dwarka link road. Clearly there is some problems there with respect to roads.
    My sense is that it is just matter of time but I may be wrong.


    Thanks for the feedback..it looks like things are getting back on track.but we need to keep an close eye on development and share wid each other..now a days u cant trust ny builder nd needs to be careful.
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  • Hi Diwana,


    Thanks for the Pictures ... I heard that Vatika is in the process of finishing the already completed structures ( both in Signature 1 & Signature 2 ). They are planning to hand over these completed Villas to the owners starting early 2016 but not sure if they can do the same without getting CC & OC from the concerned department.


    Also what about water / electricity / sewer connections ... Don't think they are ready with the same given the fact that there are some on-going land disputes etc. Lot of people are stuck for the last more then 6 - 7 years and guess its going to be a long wait going forward as well ...
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  • Hi Saibal

    I will be very surprised if they can deliver Signature 1 before early 2017. Most of signature 1, internal plastering is not complete and work ongoing is also slow. They do not have all sanctions and it is time taking process.

    Signature 2 I have not seen very closely and I believe each villa is at different stage of construction. I am not so aware of land disputes except through this forum I have read about it. Slow construction of internal pathways reaching signature may suggest that there may be something there.

    As you say I am also thinking it will be wait and only end 2017 (another 2 years from now) when it is habitable. In a way all owners have already lost lot of notional interest on the payments made already as per Construction Linked Plan.

    On positive side, I still of the view that once done this would be very nice place to live - spacious landed homes having uniform modern design.
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  • Thanks for the update. There is surely land issues which vatika doesn't agree to. Let us see how long we have to wait. Govt need to come with some regulations to rein in these builders.
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  • creative way to shame builder
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  • Check out this link ... last Para ... This has come out in TOI today in Gurgaon Edition.
    Land trouble delaying Vatika flats, say buyers

    GURGAON: Nearly 100 families that have invested in a housing project, Vatika India Next, near Kherki Daula marched in protest from Leisure Valley Park to the company's office on MG Road and the project site on Saturday, alleging houses that they had paid the builder for in 2009 and that were to be delivered in 2013 were far from completion.

    Read more at:
    Land trouble delaying Vatika flats, say buyers - TOI Mobile | The Times of India Mobile Site
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  • Huda acquires 53 Acre in New Gurgaon for Sector Roads etc.

    Check this attached information provided by a fellow member ... Huda acquires 53 Acre in New Gurgaon for Sector Roads etc. ( Sector 82 / 85 ) ... ?
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  • Hi members, while vatika is not constructing some villas due to land issues, some of the villas they have progressed quite well till the second last payment milestone i.e. Completion of flooring. I own a signature villa 2- 240 sq yd duplex villa against which i have got demand letter till completion of flooring. I had taken loan from LIC as per the initial guideline of vatika, they are not disbursing any more. As per them vatika has been unable the give the required papers like overall site plan. Vatika is writing back stating they are not being able to convince LIC inspite of several persuation and wants me to transfer the loan from LIC to HDfc/icici. Anyone facing the same issue? Pls guide/ comment/advice.
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  • It will be advisable to go and check for yourself at the site about the progress etc. Also its bit strange to know that if LIC is not disbursing payments any more then how will HDFC & ICICI Banks do the same.

    To the best of my information ICICI Bank never gave any Home Loans for this project and HDFC did give it initially but then stopped due to lack of clear approvals for this Project. India Bulls was another Bank that did give loans at one point in time.

    You must ask Vatika for the " Site Plan " & " Cluster Plans " ... approved by the concerned competent authority before making any payments I guess.

    Also check if Vatika will be in a position to give you OC / CC once your Villa is completed ... ?
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  • It is a big hassle to change banks but given your situation you should approach HDFC and ICICI and I would think one of them should be able to help. Each bank has its own policies and appetite for risk taking and plus rapport with developer. I think approvals in Vatika are not full and final and coming in dribs and drabs and so certain banks like HDFC/ICICI are more kept in loop on these matters. In case both ICICI and HDFC refuses than you should take ball back to Vatika court. Also you can ask Vatika to give you photos of construction of your individual house.
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  • Does anyone else feel that Vatikanext website is pathetic when it comes to construction updates - they do not update latest photos (only 22/11/15 photos are there), photos open small, photos are not covering all constructions.
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