Hi All,

Can you guys please suggest if Emaar Emerald Estate in Sector 65 ,Golf Road Extension is a good buy at 5000 psf in resale.

Any update will help me decide further.

Thanks
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  • File RTI to obtain information on status of license is a must

    Originally Posted by Trumpcard
    Spoke to Emaar about this and as per them it is under renewal process for EE. Not sure what is the way to confirm this.


    Hi
    Greetings

    Simple,, search forum for "how to file RTI", specimen on how to obtain information from DTCP is provided, in 40 days information will be on your table for an expense of Rs75.
    Pls ask for.
    - Status of license of the builder
    - Has the builder made an application for renewal of license?
    - has the department sent any communication regarding pending charges towards EDC/IDC, interest thereon or pending requirements as per licensing conditions
    - All documents, communication, fees submitted by builder for renewal of license
    - Has the license been rejected for renewal, with reasons.

    Send direct to DTCP Head quarters in Chd.

    Generally builders will never show you any application made for renewal and you may try this writing to them in any language.

    Cheers
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  • Originally Posted by Trumpcard
    Spoke to Emaar about this and as per them it is under renewal process for EE. Not sure what is the way to confirm this.


    I did some check through good friends who are in this sector. As per them the whole issue is related to builder selling the project at a price which is now lower than cost of construction. Cost of construction has increased behind inflation in commodities combined with delays in construction.

    Emaar now needs to make the project payout or settle for a loss. Hence recently they (a) launched emerald floor select with lift/ac/modular kitchen at 80lac-1.25cr bsp (b) acquiring more land to build floors at higher BSP - amber and coral blocks are expanding as a result.

    The last resort could be (a) demanding money from buyers behind cost escalation. My friend cited recent BPTP case which is now in court. In this builder asked for compensation behind cost increase from owners. I am not able to recollect the project name but can get the details if needed (b) diverting funds from other project (not sure how as every project in separate legal entity)

    Net, if you are looking for end use then spending 1.5cr will be a big bet as certainly topaz/amber/coral blocks will take time to deliver (Ivory/ Jemma have taken 5 years and still not delivered)
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  • Originally Posted by Manusingi
    I did some check through good friends who are in this sector. As per them the whole issue is related to builder selling the project at a price which is now lower than cost of construction. Cost of construction has increased behind inflation in commodities combined with delays in construction.

    Emaar now needs to make the project payout or settle for a loss. Hence recently they (a) launched emerald floor select with lift/ac/modular kitchen at 80lac-1.25cr bsp (b) acquiring more land to build floors at higher BSP - amber and coral blocks are expanding as a result.

    The last resort could be (a) demanding money from buyers behind cost escalation. My friend cited recent BPTP case which is now in court. In this builder asked for compensation behind cost increase from owners. I am not able to recollect the project name but can get the details if needed (b) diverting funds from other project (not sure how as every project in separate legal entity)

    Net, if you are looking for end use then spending 1.5cr will be a big bet as certainly topaz/amber/coral blocks will take time to deliver (Ivory/ Jemma have taken 5 years and still not delivered)

    Whay is your take on high rise in this project?
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  • Consider this.. Tower A structure has been ready for so long but the builder is not progressing beyond it.. why is he making structures only and not completing and delivering... this behaviour is risky.. i will think twice before going with Emaar.
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  • Simple - To extract maximum money from the investors/end users and then delay the construction on one pretext or the other while the money collected from clients could be used for debt servicing or acquiring another piece of land.


    Originally Posted by Manusingi
    Consider this.. Tower A structure has been ready for so long but the builder is not progressing beyond it.. why is he making structures only and not completing and delivering... this behaviour is risky.. i will think twice before going with Emaar.
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  • Existing unit holders, please advise if there is an escalation clause in the BBA in this (highrise) project?
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  • nope
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  • Never buy Emaar MGF projects. They are cheats of the highest order. Refer today's papers on protests by Palm Drive buyers. Project started in 2007 and still no sign of possession.
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  • Originally Posted by Capt Vipul C
    Why are buyers not making money in projects by DLF, IREO, TATA, GODREJ, VATIKA, EMMAR, SOBHA, BESTECH, ADANI, PURI, M3M, PIONEER, UNITECH,SUPERTECH and other renowned, reputed, esteemed, FDI - Funded builders ?

    There has been no movement on prices of the project of these builders infact there are sellers in the market ready to sell properties at below the buying price? Any Pointers?


    This is only on Dwarka Expressway not on GCX. And that is because the real estate market has been down for the past year or so. GCX properties command a high premium including Emmar Estate. I got a call from a broker for 7200 sq. ft as basic price + PLC etc. so there is no question of suffering loss or not making profits.
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  • Originally Posted by Raoulg
    This is only on Dwarka Expressway not on GCX. And that is because the real estate market has been down for the past year or so. GCX properties command a high premium including Emmar Estate. I got a call from a broker for 7200 sq. ft as basic price + PLC etc. so there is no question of suffering loss or not making profits.

    7200 for which project?
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  • Originally Posted by miketest
    7200 for which project?



    Emerald estate
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  • Originally Posted by Raoulg
    Emerald estate

    Current prevailing rates are much lesser than your quote. I have quotes for 2 bhk starting from 6500 upto 6800 depending on white-check ratio.
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  • Originally Posted by Raoulg
    This is only on Dwarka Expressway not on GCX. And that is because the real estate market has been down for the past year or so. GCX properties command a high premium including Emmar Estate. I got a call from a broker for 7200 sq. ft as basic price + PLC etc. so there is no question of suffering loss or not making profits.



    Kindly do not mislead general public with superfluous rates, much delayed Gcx projects, unclear title, several changes in building plan without any submission with tcp hr, revenue rastas n nallahs haunting the plan, EC ?, lic expired ( check tcp site), i own a plot in this project with no seller, wats the use of so called premium when one cant have it.

    I've nothing against Emaar, it all varies from project to project, u never know wats waiting for u!

    Emmar's DEW projects are running well with reputed contractors, with all approvals in hand & shall be delivered in time.

    cheers!
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  • Originally Posted by Spartan83
    Kindly do not mislead general public with superfluous rates, much delayed Gcx projects, unclear title, several changes in building plan without any submission with tcp hr, revenue rastas n nallahs haunting the plan, EC ?, lic expired ( check tcp site), i own a plot in this project with no seller, wats the use of so called premium when one cant have it.

    I've nothing against Emaar, it all varies from project to project, u never know wats waiting for u!

    Emmar's DEW projects are running well with reputed contractors, with all approvals in hand & shall be delivered in time.

    cheers!


    I have no intention of misleading anyone. I am invested on DEW and GCX and cannot find a seller for the DEW property while get about 6-8 calls a day for Emerald Estate. It is my POV.
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  • Originally Posted by miketest
    Current prevailing rates are much lesser than your quote. I have quotes for 2 bhk starting from 6500 upto 6800 depending on white-check ratio.



    I think it depends upon the location, tower and floor. Rates vary accordingly. I have no intention of selling my flat but that is the rate that is being quoted to me these days by brokers.
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