Hi - After much considerations and dilly dallying, I finally bought a 2+1 bhk in Spaze 1465 sq feet 3850. The available deals ranged from 3850 to 4100, so hoping that I got the right price

Here is my sequence of thoughts:

1) Whether to invest or hold? - There are posts after posts on impending 'correction'/'stagnation' - sounded logical - but never translated into reality - nor do I see it happening at least for next few years. With so much muscle power of investors, NRIs, politicians etc., a price reduction in near future seems difficult. Also everyone around me in office, cousins, neighbors are looking to 'buy' and many for their end use, so there is definitely pent up demand.

2) Gurgaon vs Noida vs Fdb vs others - Chose Gurgaon as this is where I live and work and understand this little better than Noida, Faridabad, Ghzb etc. Also, I have my reservations for RE investment in UP given the political scenario and huge over supply in Noida+GN+NE. In addition, Gurgaon seems to me the most liquid market and amongst highest growth corridor

3) Which area in Gurgaon - Discussed and debated umpteen times. Personally, I believe that there is strong potential in several areas - whether its GCX, SPR, New Ggn. Somehow, New Gurgaon seems most promising to me given that it is BIG belt strategically surrounded by 4 super key roads - NH8, DEW, Pataudi raod and KMP (not adjacent, but near). Personally know many companies which are in talks of shifting office to Manesar and New Gurgaon area in next few years. With so much money of builders, investors and now even several end users; along with strategic location - seems unlikely to fail at least to me. Purely from ROI perspective, I believe it has max potential give n the lower base rate. Prices doubling on GCX from Rs 8500-10,000 psf to 17,000 - 20,000 seems more difficult to me as opposed to Rs 3500-4500 psf to 7000 - 9000 in next x years

4) Which project in New Gurgaon - My requirement was a project in which ~30% payment has gone. Buying in new booking did not make sense at exorbitant prices. Of course, the front sectors 8x appeared more attractive. With prices of sec 82 reaching 4500 in seven lamps, ananda etc, spaze looked attractive at sub 4000 with decent reputation and nice location - so finally went for it !

Lastly, even though I agree that in an ideal world, prices should come down, market is overheated yada yada, but personally I know of many many people (my uncles, aunts, ex-neighbors, acquaintances etc.) who are planning/already in the process of disposing of their properties in Delhi and other parts as they now want their base in Gurgaon because their children are settled and working here. Even today (at so called absurd Gurgaon pricing), many people can sell their 1 property in Delhi and buy 3-4 flats in Gurgaon - so are we really at the peak??? I doubt !

Thanks
Aakash
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  • one thread for one project is the best solution. people can save time and easier to get details in same thread.


    What if you want to compare two/three projects like the thread "Premier Terreces Vs Ireo UT etc".
    i second Rushilji's suggession.
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  • Yes, pretty decent idea .

    In fact i was going to post something similar .

    Yes, there could be Sections like "Buying experience" & "Ownership review" or some more Sections on other decent suggestions .

    As far as i know, there is no section catering to something similar .


    Originally Posted by rushilarora
    One suggestion that I have is to have a separate thread sections on "Buying experience" where people can share their experience while buying a property, pros and cons considered and other imp details looked into.

    Other could be "Ownership review" after people move into these apartments and share the details of "Actual Vs Promised", quality of construction, experience with builder during registry and most imp the maintenance and upkeep part of it.

    Since lots of people would move in the newly handed over project, residents can also share about the various vendors they used for doing up the house, allied services used and their testimonials etc etc.

    I dont know if there is already a section catering to this suggestion as I havent explored IREF completely yet.


    RA
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  • Originally Posted by MANOJa
    So, if i buy in Spaze tomorrow, i would also create a thread to tell my side of the story . If 5 people in the forum buy Spaze, we would have 5 different threads to discuss the experience, since by the time i or somebody else buys, this particular thread would be lost in obscurity .


    .........so, when somebody wants to look at this " "buying experience ", he has to scrawl 10's or if all of us start opening similar threads, 100's of threads to look at it .


    The forum already has a big issue with the threads, which just die off after 1 or 2 posts or threads which r totally irrelevant .


    My POV, rest, please feel free to open as many threads as possible & LOL:D, many guys may be tempted to open threads on every conceivable thing possible - Bhaiya aaj Builder ne ek new floor add kiya, it deserves a new thread :bab (38):.




    Agree with ManojA, lets keep the forum clean and information should be centralise may be project wise.
    There is no use of creating new threads for each and every slightly different topic.
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  • LOL...
    thread was buying spaze... has turned into a discussion on multiple/single thread...
    and all maharathis of IREF contributing;)

    practical example of how easy it is to take a thread in any direction...
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  • If we do not have threads by name of the project, Bestech(Spa) & Emaar(Palm) will create utter confusion especially for new members.

    we can get rid of few threads which create utter confusion (like below thread)
    https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/gurgaon-real-estate/15408-bestech-park-view-spa-and-spa-next-advice-please?t=17635

    somebody might create a thread like "Palm Springs-Palm Hills-Palm Drive-Palm Hills- Advice pl"
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  • Never invest with Spaze

    One of my friend is invested in their sohna road project and i have heard of some horror stories for this developer.

    Be careful with your hard earned money.
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  • Hi
    Greetings

    "Welcome Golu the HULK":D.. and
    "sambher the hibernator"

    Attack

    TRP of this thread is now going to hit the roof height.

    Cheers
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  • :)

    Thanks all !

    When I started this thread, I only had good intention of sharing my experience (for whatever it is worth !) to fellow members who might be considering any purchase.

    Completely agree that we should keep the forum clutter free and avoid duplication as far as possible

    Chalo achha hai - jaane anjaane, this has become a problem solving bed to better structure the threads and the forum !
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  • Originally Posted by BlessU
    Hi
    Greetings

    Congratulations on your decision and hopefully will be a good experience overall..

    Can you also not justify a few specs and technical details of the project as yo u have primarily and very convincingly touched mostly the commercial aspects...

    One of a fellow member boarder has a similar question about this property being asked from me.. so your careful and thought after view shall be very helpful in this respect..
    Basically about the layout, site plan, floor plan, specifications, loading, future prospects, being near to the 3rd and only retail commercial area 88 etc. Why construction is not starting, why there is no clarity on bank finance, how is the customer service?

    Profit will be there once these things are discussed with clarity

    Cheers


    Hi
    Greetings

    Akashg pls elucidate on the above if you may.

    Cheers
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  • Originally Posted by amit001
    Never invest with Spaze

    One of my friend is invested in their sohna road project and i have heard of some horror stories for this developer.

    Be careful with your hard earned money.



    amitjee!!

    can you please highlight some problems with spaze ( except the non appreciation of spaze IT park). I have, some not so close aquaintainces, who are very happy investing with spaze in their sohna road project as well as spaze business park on GCx. Construction pace is good, promises are being kept and appreciation is excellent. Personally, I also like spaze AT4 although I am not invested in it.

    But I have recommended it to alot of people and would like to know if, unknowingly, I am giving the wrong advice.

    Thx
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  • Construction started after almost 2 years of launch...
    Very slow pace of construction
    Bad CRM
    Quality so far does not seem very good.
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  • Originally Posted by amit001
    Construction started after almost 2 years of launch...
    Very slow pace of construction
    Bad CRM
    Quality so far does not seem very good.


    ohh!! i heard quite the opposite. I will try to find out.. Meanwhile, fellow members who have invested in spaze are welcome to comment.
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  • Originally Posted by shkhan
    Just like TeamBHP


    Bingo...

    You there?
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  • Originally Posted by Jai_Singh
    Bingo...

    You there?


    yes mate
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  • Bhai log... Everybody is there!!!

    RE se kamao ... BHP mein ghusao :D :D
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