Spire World presents 'Spire Woods' a unique concept in housing Apartments that are customized to your lifestyle. Spire Woods is located at Sector 103, Dwarka Expressway offering 2/3/4 BHK apartments.

Apartment Sizes are 1460/1582/ 1811/1851/ 2208,Starting from 44 Lakhs.

Any idea/details:) on this launch?

Thanks
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  • @deepak_aggarwal are you interested in buying, or seliing? Or just curious? :)






    Originally Posted by deepak_aggarwal
    Hi All, Is it advisable to opt for subvention scheme for this project. How it would impact the resale prospect for the flat.

    Also, what is the current resale price for 2124 SFT unit..

    Rgds
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  • I am looking to sell.. Would have been happier to sell if the price was around 4K. By selling at 3400, it would not be possible to buy another similar property as most other properties on DEW are quoting at 4K plus..

    I am apprehensive about subvention scheme as Spire has a pathetic track record.. There is no assurance that construction will not stop midway or goes slow after a year or so..

    The fact that Spire is offering a 3 year subvention option is unnerving.. They are definitely going to take more than 3 years to complete from this stage.. Most builders ask 3 years from date of launch..

    Originally Posted by Time Pass
    @deepak_aggarwal are you interested in buying, or seliing? Or just curious? :)
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  • is the subvention scheme for 3 yrs or till possession?
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  • Subvention scheme is applicable until earlier of a) possession or b) 3 years..

    Originally Posted by nitinn
    is the subvention scheme for 3 yrs or till possession?
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  • Now loan is available from State Bank of Patiala and ICICI as well .
    Is it ok to pick the ICICI ....as rates are comparable to the SBI (10.75% floating) ?
    IDBI - 11% ...Kindly suggest
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  • Originally Posted by arunpundir2010
    Now loan is available from State Bank of Patiala and ICICI as well .
    Is it ok to pick the ICICI ....as rates are comparable to the SBI (10.75% floating) ?
    IDBI - 11% ...Kindly suggest


    I think ICICI is far far far better thatn SBI. I have applied for loan in SBI more than 2 months back. But aaj tak unka banda verification karne nahi aaya. Even after so much followups, they haven't even started the process.

    Just came to know frm u that ICICI has also approved. Now, I'll take the application back from SBI and apply in ICICI. Atleast, they'll provide the better service and 'll not make false promise.
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  • Originally Posted by arunpundir2010
    Now loan is available from State Bank of Patiala and ICICI as well .
    Is it ok to pick the ICICI ....as rates are comparable to the SBI (10.75% floating) ?
    IDBI - 11% ...Kindly suggest


    Do you have copy of approval letter from ICICI? Can you please attach it here? Thanks
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  • Batra je, although i don't have the copy bt I confirmed with spire office, icici bank and have the contact num of folk (icici one) who is taking care and may help u, I will ping u
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  • Originally Posted by arunpundir2010
    Batra je, although i don't have the copy bt I confirmed with spire office, icici bank and have the contact num of folk (icici one) who is taking care and may help u, I will ping u


    sure..thanks arun :)
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  • Originally Posted by nitinn
    is the subvention scheme for 3 yrs or till possession?



    from what i understand the tenure is decided as allowed by the bank. i feel subvention is good scheme to go for as anyways the builder would have asked for at-least 70-80% money in 3 years. And under subvention i would get the benefit of market escalation without having to pay anything further.

    and anyways, my problem was to fund both the rent and the emi together over next few years, and this way i can only focus on rent that i am paying.
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  • Does anybody have info or an opinion on the recent HC ruling that for construction activities, ground water may not be used. It applies to all the licences which were issued after 2008. Apart from this, no new licences would be issued by HUDA.
    What does the group feel about impact of such a ruling on this Spire project?
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  • Originally Posted by iceman_oz10
    Does anybody have info or an opinion on the recent HC ruling that for construction activities, ground water may not be used. It applies to all the licences which were issued after 2008. Apart from this, no new licences would be issued by HUDA.
    What does the group feel about impact of such a ruling on this Spire project?


    Clearly it means that the cost of construction would go up. I hope the builder does not find ways of passing this cost to the existing buyers!
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  • Originally Posted by Time Pass
    from what i understand the tenure is decided as allowed by the bank. i feel subvention is good scheme to go for as anyways the builder would have asked for at-least 70-80% money in 3 years. And under subvention i would get the benefit of market escalation without having to pay anything further.

    and anyways, my problem was to fund both the rent and the emi together over next few years, and this way i can only focus on rent that i am paying.




    Is Subvention still available???? whats the price in subvention scheme?? and whats the price in resale going on?
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  • Originally Posted by Time Pass
    from what i understand the tenure is decided as allowed by the bank. i feel subvention is good scheme to go for as anyways the builder would have asked for at-least 70-80% money in 3 years. And under subvention i would get the benefit of market escalation without having to pay anything further.

    and anyways, my problem was to fund both the rent and the emi together over next few years, and this way i can only focus on rent that i am paying.


    70-80% money is taken by builder if there is sufficient progress in the project, however if the builder has not moved beyond couple of floors even by the end of 3 years, you would have start paying EMI to bank for the full payment. Take the case of Unitech Sun Breeze which was launched 5 years ago, but even today the project is not yet delivered. The phase 2 launched 4 years ago has not even moved above the first floor so far. In such cases, you end up paying EMI for the entire amount had you taken a subvention scheme.

    what matters is the builder reputation on timely completion. Subventions are only offered by builders who find it hard to sell their units with normal means.
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  • I agree with krishna99 on that -

    Originally Posted by krishna99

    Subventions are only offered by builders who find it hard to sell their units with normal means.


    But at the same time i think there are more positives associated with the project -

    1- Sector road (75 meter in front)
    2- Some more sites like Microtek etc will not be launched anything less then 4500 or so (so in that case it will push the resale)
    3- New connectivity of Jajhar with Dwarika (AIIMS facility)
    4- Some rumors of Medicity in sector 107 (which is not far from sector 103)
    5- Sector 103 front facing (dwarika expressway is reserved for educational institutes etc)
    6- Rumors that spire has sold/done some association in sector 106 SPIRE Central, with some other builder.(now they can focus more on this project)
    7-Fully customizable home (up to an extent)

    Rest feel free to add the pros and cons of the project/builder so that many others can get some more information and decide upon......
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