I am planning to buy Floor in BPTP's Astaire garden project. Project is located in sector 70a of gurgaon. Does anyone know about this builder and this project. Will it be good investment for next 5-6 yrs. Please provide your comments/thoughts.

I also heard UNitech launching floors in sec 70. Looks like floors are in demand.
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  • Originally Posted by smahipal
    Hi

    I have brought a 2 BHK in BPTP Pedestal @70A. can you give me some insight about this project
    i have taken this for investment purpose

    Thanks

    Review of bptp is very bad in this forum search by bptp in 'Search IREF' box, u will find lot of reviews.
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  • Hi.. As an investment what returns one can expect in 3 yrs for 2 bedroom unit?

    Any help would be appreciated...
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  • Originally Posted by krishna99
    Stay off from this builder
    Known for delays and harrassing people. Visit bptp parkland you would know it. Our friend blessu can tell stories about this builder.



    http://www.indianrealestateforum.com/bptp-ltd/t-bptp-complaints-16592.html
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  • Hi sumitleekha,
    I don't think you will be able to sell the property in 3 yrs. This offer of 15% advance rest on possession will cease as soon as you re-sell this prop.I think the possession will not be before 5 yrs.

    Also try to peel broker and builder for the HUGE High Tension Tower in front of the site. Please do visit the site if you have not done so.
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  • Thanks.. TezGGN.. what I meant was just before the possession I sell the property to end user or some other investor.. 5 or x years it doesn't matter - with subvention scheme more I think more delay better it is....Also I will check the site next week - especially HUGE High Tension Tower ....
    But Do u think its a good investment option with just ~15% investment upfront?
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  • and what is better - CLP or Subvention if I am planning to sell it before possession?
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  • the basic idea is investment
    i went to the site , things looks promising
    1. Lots of construction going on
    2. lots of customer trying to buy 182 yards 2 BHK floor
    3. landscaping and planning looks fine to me


    Problem:
    1. Approach road to the project , although they say they will build up before delivery, i have one more reason to believe that they are selling villas for 9 cr in the same complex ,so i assume people who are buying it will not take without promise of good infrastructure or they will put pressure on builder to deliver it.

    2. Builder reputation , it is BAD , we know that but every investor is fed up of their respective builder ,so i do not know where BPTP stands


    Reason of buying

    1. there is no property so near to Sohna road in this rate and it is just 3 KM from Sohna road /Golf course road junction. all projects near to that area are constructed and i believe people will start living there in 1 to 1.5 years
    2. quality of life would be really good ,if this project goes as planned
    3. Subvention scheme, i hope there is no hidden agenda , i checked with builder that Subvention scheme is valid until Sep-2013 and 1st transfer is free.

    4. for investment, considering if builder builds it on fast pace to get rid of interest he is paying in subvention , i assume it will take min 2 years to hand over, so even if i try to sell it after 18 months ,i believe 12-14 lac premium should not be a problem.

    Risk:

    1. Property slump in gurgaon , which lots of people are fearing
    2. Builder builds it too fast that property do not get any chance to appreciate till that time.


    Question:
    1. is my assumption about the premium is ok ?
    2. is there any other factor ,which i shall consider or missed?
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  • Sir.

    A few points.

    Unitech Anthea floors are situated at better location, sec.70 . they have 191 yds 2bhk units being traded at 65 lacs.

    How do u feel that the units by BPTP (Some people call them 'chor' builder), would appreciate by 12 L over and above to 90L + which is there basic sale price.

    I strongly doubt that they would fetch any premium.

    Better to invest in Anthea floors since only 19L payment is gone and premium is about 8 to 10 Lacs. Once construction gets started, you can expect good appreciation.

    I am invested in Anthea floor.
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  • what's the difference between Pedestal and Astaire Gardens?? Pedestal are more expensive and small in size and recently launched, whereas Astaire Gardens was launched earlier and are much cheaper and location (70A) and specification (excluding lift) is same.
    Why one should buy Pedestal and not Astaire Gardens?

    Expert views?
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  • Originally Posted by kapilsoft
    Sir.

    A few points.

    Unitech Anthea floors are situated at better location, sec.70 . they have 191 yds 2bhk units being traded at 65 lacs.

    How do u feel that the units by BPTP (Some people call them 'chor' builder), would appreciate by 12 L over and above to 90L + which is there basic sale price.

    I strongly doubt that they would fetch any premium.

    Better to invest in Anthea floors since only 19L payment is gone and premium is about 8 to 10 Lacs. Once construction gets started, you can expect good appreciation.

    I am invested in Anthea floor.

    Kapil

    This is what i got the price about the Unitech from Unitech site
    160.00 SQM. (191.36 SQ. YDS.) Ground Floor First Floor Second Floor
    Saleable Area (sq. ft.) 997 997 997
    Basement Area (sq. ft.) 781 0 0
    Basic Price (in Rs. Lacs) 112.2 80.7 76.7

    Min Base Price is
    First Floor 997 Sq ft 76.7 Lac + 10-15 lac extra

    i do not know who is selling at 65 lac and plus there is no sign of any constructions in Unitech for years.

    also BPTP is 1080 Sq almost 83 sqt extra with same price 76 lac +10 lac, also i have seen both sites
    Unitech land is all jungle as of now ,but BPTP has built up basic infrastructure and had built the many floors of old projects and Villas .


    i know BPTP is chor for that matter i do not see any builder is saint , koi bada cohr koi chota ,but ultimately they all deliver the project sooner or later


    Please let me know if my understanding is correct

    Sachin
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  • smahipal

    76+10 Lacs is for bare shell unfurnished unit in BPTP Pedestal and for fully furnished unit in Unitech.
    But clearly Unitech is a builder everyone is avoiding these days and I am not sure when they are going to deliver this project. And BPTP's intention looks very positive with 15% now & 85% on possession subvention plan.

    How do you think BPTP PEDESTAL will emerge 2-3 years down the line as an investment opportunity?

    Saurabh
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  • Also, I hope there is no hidden condition attached to possession in "15% now & 85% on possession" plan. I have read some subvention plan allotment letters where the builder very cleverly put * after possession and elaborate * at the bottom of the page in extremely small size font as "possession or 24 months whichever is earlier".
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  • Welll I spoke about Unitech Anthea First floor's market resale price. company price is 80L + 4L approx for EDC etc

    FF with 997 sft is available at 65L as BSP and 3L towards EDC/IDC/IFMS/Club ... and total outflow would be 19L (30% paid) + premium of approx 10L .. so total outflow of approx 30L.

    Compare the prices after 3 years for both BPTP and Unitech ..and then decide.
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  • Agreed also, anthea is not as deep as astaire gardens so will have the advantage over the same.
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  • If one has other options, better stay away from both these builders.
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