Hi

I am planning to buy a property either in Palm Gardens or Godrej Frontier. I have some advantages and disadvantages in mind but would like to understand expert views on the pros and cons of each property. Also, what would you recommend for a 3-5 years time frame.

Thanks

Vivek
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  • Hi Vivek,

    two of my fav projects and a not so a easy choice...my take

    Location Palm Garden
    Builder reputation Godrej
    contractor & const. tech. Godrej
    project layout Palm Garden
    Unit layout Palm garden
    Price wise Godrej would be tad cheaper
    Timely delivery Godrej
    Open Green Palm Garden
    Specs Similar

    Cant pass a judgement of which would be a better investment.. I think both should command similar valuations and ROI would also be similar.

    of course if you are looking at bigger size then godrej has 4bhk while PG is only 3 bhk and penthouse...




    Originally Posted by cybervivek
    Hi

    I am planning to buy a property either in Palm Gardens or Godrej Frontier. I have some advantages and disadvantages in mind but would like to understand expert views on the pros and cons of each property. Also, what would you recommend for a 3-5 years time frame.

    Thanks

    Vivek
    CommentQuote
  • Amitmm - the subvention thing will tilt the pendulem heavily in the favour of PG

    Even if prices rise from 4400 to 5000 by 2013, still there is some good money to be made.

    Here is what the calculation look like (doing rough so dont jump when u find an error)

    Cost lets say 1800*4400 = Roughly 80 lakhs

    If one pays 20% in subvention = 16 lakhs

    If price rises even by 500-600 rs by 2013 (not an aggressive assumption)

    Return is 50% + in 1.5-2 years...so like 20-25% annual return, that not bad

    PS - I am not aware of the exact flat size and amount required in subvention. But one can do the exact calculation on above lines to calculate the return
    CommentQuote
  • i would agree that subvention is a sweetner..

    Originally Posted by amit001
    Amitmm - the subvention thing will tilt the pendulem heavily in the favour of PG

    Even if prices rise from 4400 to 5000 by 2013, still there is some good money to be made.

    Here is what the calculation look like (doing rough so dont jump when u find an error)

    Cost lets say 1800*4400 = Roughly 80 lakhs

    If one pays 20% in subvention = 16 lakhs

    If price rises even by 500-600 rs by 2013 (not an aggressive assumption)

    Return is 50% + in 1.5-2 years...so like 20-25% annual return, that not bad

    PS - I am not aware of the exact flat size and amount required in subvention. But one can do the exact calculation on above lines to calculate the return
    CommentQuote
  • At the levels of 4400 any property on d eway is risky and bad.

    I just saw a news in Mail today about emaar mgf where ED has linked their property against a fraud.

    If at all one has to go that way. i would recommend to avoid emaar.

    If you have 80 lakhs, come to gc-ex/SPR, investment is more safe and less speculative
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  • Above properties r on NH8 & not on D e way .

    Originally Posted by nc_gupta
    At the levels of 4400 any property on d eway is risky and bad.

    I just saw a news in Mail today about emaar mgf where ED has linked their property against a fraud.

    If at all one has to go that way. i would recommend to avoid emaar.

    If you have 80 lakhs, come to gc-ex/SPR, investment is more safe and less speculative
    CommentQuote
  • Aplogize ! Manoj sir. I may have got confused on that.

    My only point is that emaar is risky.

    Also, if that kind of money is involved, may be there is merit to evaluate main gurgaon like Ireo 67A, unitech crest view etc.
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  • I think u r talking about the AP issue of Emaar . As far as i know, both parties r sitting down for compromise & settlement .

    What u r saying could be a development, which i am not aware of . Could u provide a link ?
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  • Here is the link

    Emaar MGF Documents Confiscated & High Court Orders CBI Inquiry - Over Rs 4310 Crore Loss - GurgaonScoop

    I dont think this would impact other projects!!

    Originally Posted by MANOJa
    I think u r talking about the AP issue of Emaar . As far as i know, both parties r sitting down for compromise & settlement .

    What u r saying could be a development, which i am not aware of . Could u provide a link ?
    CommentQuote
  • setsunny, thanks for the link, seems that i somehow missed this news .
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  • If u want piece of mind then I will suggest u to go with Godrej .. There are many news with Emaar.. God really knows what is their internal situation .. maybe some news are true ..some false .. we will never know the real picture..we are making investments with our life long savings ..why shld we take a chance .. on othe side ..Godrej is a ethical builder .. many of my friends have invested in their Mumbai properties and they all appreciate their quality of work .. on top of this Shapoorjee is doing the construction which is really good .. in 3 years when it is ready ..in my view it will command the same kind of rates which good Sohna road properties command ..approx 6000 .. and good thing is Godrej has sold whole of Frontier project directly ..without any underwriting or selling to a broker ..which might be a good thing in long term .. thr are negatives also abt the Godrej project ..toll gate movement a big question mark ?? and it is too dependent on Manesar to pick up as real investment destination .. if u feel that it is the right area then I suggest u to go for Godrej ..
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  • Good advice mb , Emaar is facing major issues even in Hyderabad apart from CWG fiasco in Delhi. Also , the parent company's financial health is not too good apparently in Dubai.
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  • Thanks everyone for the response. Is there a chance that the toll might be shifted before Godrej Frontier? I read in someone's comments. Also, what in your opinion would be the final price differential between the 2 properties when both are ready and running? Would it go more than 500 per sqft with godrej being the one which is lower. I know it is anybody's guess but what would be your reasonable estimate.

    Honestly, I like Palm a lot but putting money in a project which has a risk of the developer not being able to complete the project makes me extremely nervous. So if the upside is not substantial to take the risk i would rather go to the safer godrej
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  • Few things :

    1. Toll gate will affect Godrej as well as Palm Garden as both the properties are after the toll. There is a proposal to shift the toll further to Bilaspur whr it was earlier ..but no one knows the time frame yet .

    2. As far as I know , Godrej is being sold at 4330 and Palm Garden is at 4250 from the Builder ..resale rates might be cheaper ..so Godrej is not cheaper than Palm Gardens . Only thing which I have heard is that Palm Garden has PLC starting 350 whereas Godrej has PLC starting 175 so the diff might be because of PLC.

    3. Almost all the projects of Emaar are delayed by more than 1 year and some for more than 2 years .. so not sure of this point . The construction work has already started in Godrej and with Shapoorjee doing the construction ..chances of delay are less..

    4. In my view when both are ready will quote almost same prices .. but chances are Godrej might be ready much earlier than Emaar .

    You can decide accordingly now .
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  • If you are considering a time horizon of 3-5 years, Emaar Palm Gardens makes more sense.

    Palm Gardens offer 8 acres of Central Greens with Mini Golf Course - This kind of Central Greens is the biggest that any community has offered till now in Gurgaon.

    With Godrej Frontier, there has been No involvment of Godrej in planning part as they joined hands with Frontier and took the marketing rights.

    Quality is great - visit Emaar Palm Springs and you will be amazed.

    With Emaar, be prepared for a time delay but there product is great once delivered!
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  • Each and every builder has different stories, keeping Emmar issues aside the final product delivered by Emmar is very good. and so is there customer service. Risk is always there in the under construction properties. Choice is yours. .....
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