Hi All,

I am new member to this forum. I am planning to buy an apartment in Taksila Heights by Piedmont Development in Sector 37C in Gurgaon. It is being developed by Piedmont Development Company Pvt. Ltd. Work is in progress for 7-8 towers. The site is close to the widely discussed projects like Imperia Esfera, ILD Spire Green, Ninex Corona etc. I am planning to buy this for investment cum end user perspective?

Can senior members provide some information about following?

1) How is this project for investment purpose if holding period is for 2-3 years? What ROI I can expect from this project?
2) What is the BSP rate for this project?
3) How is the builder and their reputation? Based on some research I know that this is their first development project but they are in development management in Gurgaon for quite sometime now and are doing development management of ILD Spire Green, Ninex Corona.

Some of the towers were solely allocated for group housing and was solely dedicated for GOWO (Welcome To GOWO). I didn't see a very good review of GOWO projects\management but otherwise I didnt see any negative comment about the developer on this forum.

The things which concerned me was there have been tonnes of discussion about other projects in Sector 37C like Imperia Esfera, ILD Spire Green, Ninex Corona but none for Taksila Heights even though they have few standing towers to show the progress. Is there something wrong about this project?

Senior members please throw some light and help me make a right decision.

Thanks in advance!
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  • Hi Priya,

    I am also interested in buying a flat in Taksila heights but not able to get any kind of reviews about the same. Please post in case you find any thing good or bad for it.
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  • Hi Rohit,

    I am also waiting for the senior members to throw some light on the project - I still son't understand why this particular project has not been discussed on IREF so far where we have so many knowledgeable people contributing to this forum.

    Fingers crossed :).

    Thanks in advance!
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  • Dear Senior Members,

    Can you throw some light on the this project please?

    Thanks in advance!
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    1 Comments
  • Hi
    Greetings

    This link appears to be purely a marketing ploy Welcome To GOWO

    to collect contact details of unassuming passerbys and curious people.

    Some better and more convincing antecedents need to be searched.

    Any resale activity happening??

    Cheers
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  • Originally Posted by BlessU
    Hi
    Greetings

    This link appears to be purely a marketing ploy Welcome To GOWO

    to collect contact details of unassuming passerby and curious people.

    Some better and more convincing antecedents need to be searched.

    Any resale activity happening??

    Cheers



    Dear BlessU Sir,

    Thank you so much for your response.

    I agree with you that GOWO is complete marketing ploy, but last I know of Taksila Heights is that they have already delivered what they committed for GOWO. I spoke to few brokers in gurgaon and they mentioned that indeed taksila is a good project - at least they have towers built up to show unlike other developers in the area who are still promising things on paper and have little to show outside paper. I don't think there is much of a resale going on in the market for this project (can be positive, can be negative). Few I came across were distress sellers.
    Since this is the first end to end development project from Piedmont (PIEDMONT | Global Expression Indian Soul) I hope that they will try to do a good job on this.

    You can see the construction update at below link:
    http://www.taksila.in/taksila-hts/actual-pics.html

    and other relevant details can be found at:
    http://www.taksila.in/taksila-hts/index.html

    Please enlighten me with your knowledge to take right decision.

    Thanks again in advance.
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  • Originally Posted by spriya
    Dear BlessU Sir,

    Thank you so much for your response.

    I agree with you that GOWO is complete marketing ploy, but last I know of Taksila Heights is that they have already delivered what they committed for GOWO. I spoke to few brokers in gurgaon and they mentioned that indeed taksila is a good project - atleast they have towers built up to show unlike other developers in the area who are still promising things on paper and have little to show outside paper. I dont think there is much of a resale going on in the market for this project (can be positive, can be negative). Few I came across were distress sellers.
    Since this is the first end to end development project from Piedmont (PIEDMONT | Global Expression Indian Soul) I hope that they will try to do a good job on this.

    You can see the construction update at below link:
    Welcome to Website

    and other relevant details can be found at:
    Welcome to Website

    Please enlighten me with your knowledge to take right decision.

    Thanks again in advance.


    Hi
    Greetings

    Nothing much can be made out unfortunately unless a dedicated research in done.. On the face of it, looks like too many cooks have spoilt the broth. I neither have the capabilities nor the initiative to delve into such a complex association.

    I can however draw an inference from the name of Beekam Helix India which is Cyprus based to have had a poor past in India with respect to ventures in the property space. Looks some kind of a Political Hush fund seriously to me..

    Sorry about the above but thats what it is!!

    Cheers
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  • Hi
    Greetings

    Another one.. VSR Projects.. have a dig VSR Project Pvt. Ltd. || Company Profile ||

    Site good enough to generate a few thoughts..

    Cheers
    CommentQuote
  • Originally Posted by BlessU
    Hi
    Greetings

    Another one.. VSR Projects.. have a dig VSR Project Pvt. Ltd. || Company Profile ||
    Site good enough to generate a few thoughts..

    Cheers


    Dear BlessU Sir,

    Thank you again BlessU Sir for earlier responses.


    Few things which I want to add are

    1) I think Beekman Helix India is US based entity whose CEO is some Indian. As per their website only CEO is US based and rest of the team members are India based (BHI | Beekman Helix India).

    2) I came across VSR Project Pvt. Ltd while searching for developers\builders. On their website (Welcome to Website) they have mentioned about VSR Infrastructure Pvt. Ltd and not about VSR Project Pvt. Ltd. I am not sure whether they are the same company. I couldn't find any other information about the website listed developer (VSR Infrastructure Pvt. Ltd) on google. However few searches mentioned that they are developing "VSR 68 Avenue" in Sector 68 Gurgaon which is a retail and office project. But I cannot confirm the authenticity of this information. It might be true, might be false.

    Few pros which I can think of:

    1) This project was recommended by Samir Jasuja on NDTV's "The Property Show". I understand that Samir Jasuja's PropEquity (PropEquity) does thorough research before recommending any project on the show (most of the time they do send some of their company's employees to collect data from the site). Mr Jasuja mentioned that this particular project has PE money invested in it.

    2) One of my friend who is also interested in the project and lives in gurgaon visited the site and spoke with the company's sales manager. His feedback was quite okay. As per him the company's people mentioned that they believe in fair dealing and provided all the relevant paper's upfront. This included licenses and approval papers from different authorities.

    3) The CEO of flagship company Piedmont Development Company Pvt Ltd - is ex-Senior General Manager of DLF. Prior to DLF he had worked for Unitech for 14 years. So he must have vast experience in handling big real estate projects. Other members in the team too have fair amount of experience.

    4) On ground they have already delivered the towers as per their promise in the stipulated timeframe which brings some confidence.

    5) They have listed on their website that they are in project management of following projects. They were involved in the overall planning, coordination, control and execution of the construction project from its design to handing over stage and meeting clients' requirements.

    PIEDMONT | Global Expression Indian Soul

    ILD Spire Greens
    Paradiso
    Spire Wood
    Bluejay Aston
    Bluejay Oasis
    Sunshine Hills
    Gateway Mall

    This again brings some confidence.

    6) US based companies like GID and Akridge are stakeholders in Piedmont along with Beekman Helix India. US companies looks to be good. Not sure how much value they can add to the Indian counterpart.

    7) They are also coming up with another project Taksila Gardens in Faridabad.

    Few cons which I can think of:

    1) IREF has never discussed about this project even though it has standing towers for more than year and half :). Why this discrimination? This makes me think there must be something not very good (read fishy) about this project.

    2) As BlessU sir pointed - too many cooks have spoilt the broth. This could be a big problem. But on the other side if its really PE initiated company which is trying to establish a footprint in India then in initial phases they wont have much option unless they decide to go for some big names in the game which would again reduce their margin on the investment.

    3) Their license for group housing construction is in the same of M/S SVR Realtors Pvt Ltd and M/S Realtech Pvt Ltd - 2 more cooks. Didn't find any information what so ever about them.

    4) Not much information available about VSR Infrastructure Pvt. Ltd.

    5) Their initial tie up with GOWO doesn't bring much confidence into the project. But again as per GOWO they are sold out of Taksila Heights apartments and mostly it is bought by end users (government and ex-government employees including services). But there is no authenticity of this information though. My friend spoke to GOWO guys and they provide the preceding information.

    5) Little or no information about this company and project in public domain when projects in and around this are discussed on daily basis.


    I have tried to put most of the information which I have gathered so far to best of my knowledge.

    If any of the board members have more information, please share it here so that it can bring up the true picture.

    Thanks in advance.
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  • Couple of senior members suggested that with the amount of information available about this company is public domain, its inconclusive to make out much of the project\builder and thorough research must be done to find out more.

    Thanks for their time and effort.

    If other boarders know anything about this project, please post it here, till then fingers crossed :(.
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  • The trend these days is to first buy and than seek advise, otherwise there are 52 price revisions every years
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  • I almost zeroed in on this project but then after doing some research became very apprehensive about buying so have postponed the decision until I get some very good reason to buy.
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  • Hi Spriya,

    As you did buying effort before can you please share more information such as current BSP (new/reasle), sizes and availability, upfront payment requirement etc.

    Thanks
    :bab (48):
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  • I was being offered 3200 BSP (+ 330 EDC/IDC + 100 PLC) for a resale unit by the broker which needed close to 75-80% payment for the towers which were already built up - a month back, not sure what is the status now. It was little negotiable as per him. My known friend contacted the company directly where they mentioned that they would be launching phase II of the project for some 3750 BSP in April/May timeframe.
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  • Looks like no one is aware of this project in this entire forum :(.

    Good or bad, if you know anything please post here.....
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  • Originally Posted by spriya
    Looks like no one is aware of this project in this entire forum :(.
    Good or bad, if you know anything please post here.....


    Dear spriya,

    I think at this price, it can be a decent deal. However there are risks involved with the unknown builder's image. In Sector 37C,D there are hardly any good projects lest Ramprastha city.. Each has its own share of issues be it Imperia, BPTP, ILD etc. I personally find sector 37x better than 8x, 9x considering proximity to the main gurgaon and at similar prices. Can be a great investment however there are risks involved as you rightly pointed out.

    Let us know if you seal the deal or get to know anything more from your research. I am also looking forward to book sth in sector 37x, 8x, 9x at the earliest.
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