Hi all,

My broker called me told that ASF Builder is coming with new residential project at gwal pahari area and following are the details....

A) 2 and 3 bhk available
B) per launch price after discount : 6300 psqft...

Not sure about the builder reputation and respective price ...
Please provide ur valuable comments or additional information, if any....
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  • Originally Posted by Adorableguy
    Its not freehold. Its lease for 30 yrs which needs to be renewed every time for next 30 yrs hence stamp duty every time to be paid. No clarity for refund value in case no lease renewal.


    Hi
    there are a lot of question about this projects.1
    1) this is only for employees of TCS, IBM , Ericsson and Annik Systems.
    2) The lease will be renewed after every 30 years. 3 times. nothing to worry as is it similar to property sold in Noida under 99 years lease.
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  • Hi Ashutosh, The EOI you have attached is old one where the lease hold rights can be transferred after 40% but actually the builder has changed this clause and now the lockin period for any kind of lease hold right transfer is complete 100% which means you can not sell this property before making 100% payment to the builder. The new EOI is available on builder's site. Please be aware of this lockin period before investing in this project else you will not be able to sell your flat before 100% payment made to builder.

    Please go to site and check point 10 in terms and conditions.

    http://www.asfinfrastructure.com/
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  • Please check the EOI published on the site. It said
    One time lease rent : Rs. 7000 (Rupees Seven thousand only) per sq. ft

    so Apt cost will be 6300 ( BSP with IBM/TCS disc) + 7000 ( lease rent) per sq. ft

    = 13300 per sq ft.

    Beware !!!!!!
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  • Originally Posted by member007
    Hi Ashutosh, The EOI you have attached is old one where the lease hold rights can be transferred after 40% but actually the builder has changed this clause and now the lockin period for any kind of lease hold right transfer is complete 100% which means you can not sell this property before making 100% payment to the builder. The new EOI is available on builder's site. Please be aware of this lockin period before investing in this project else you will not be able to sell your flat before 100% payment made to builder.

    Please go to site and check point 10 in terms and conditions.

    WELCOME TO ASF TOWERS | IT/ ITES SEZ, Real Estate , Leading ,Real Estate Company, Space, Commercial property, Office Space, NCR Real estate services, SEZ benefits, Industrial free trade zone, Special economic zone, sez in Haryana, sez in northern ind

    This clause is good to keep Speculators away. I am only worried for lease issue now. In Agreement to lease ( available at website), tentative possession date is mentioned as 15-Apr-16 though its not binding but still a good assumption.
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  • Will it be worth to invest in this project? How far is this project from Gurgaon
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  • From investment POV, it may not be attractive due to High Entry price, 100% payment before transfer and lease issue. But from end user POV, i feel it good due to peaceful surroundings, well connected from Gurgaon, Delhi and Faridabad, nice neighborhood ( though its a hope only). But School buses may be an issue.
    Its around 10 Km from Bristol hotel on GGN FBD road.
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  • Is this worth to invest in ASF project 6300 OR Better to invest on Dwarka Expressway. looks ASF new project have lease condition for 30 years....Please share your views....The only point which i think good abt ASF is near to golf course and IT SEZ...Negative points are basic needs are far away from Gwal pahadi.....
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  • I believe with couple of commercial projects by Paras, Ninaniya's etc being constructed around the basic needs factor should get taken care of to a good extent.
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  • Will dwarka expressway sector 111,1109 wud be better than ASF new project in gwal pahadi
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  • So the guys who are liking this project, are not concerned about the court case, which is mentioned in above posts... news in HT says High court has put aside the order in which this land is transferred to builders...
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  • Senior Members please ADVICE....Is this worth to invest in ASF project 6300 OR Better to invest on Dwarka Expressway.I am looking down 3 years time...PLESAE ADVICE
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  • Originally Posted by saurabhagg19
    Senior Members please ADVICE....Is this worth to invest in ASF project 6300 OR Better to invest on Dwarka Expressway.I am looking down 3 years time...PLESAE ADVICE


    even after 6 months rates are same 6300 on top of that 7k psf lease rent charges that too for 30 years. Again this area covered in Lal Dora having Panchayat rule.

    Go to NEW as 1st priority and DEW as 2nd for fair returns. I wrote fair returns as it will hold true for next 1-1.5 yrs. Beyond 1.5 yrs difficult to predict market.
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  • Hi,
    Few of my friends working in TCS and IBM gave me some info regarding this property.

    Surprisingly its too good in terms of amenities and the builder is also reputed and has delivered numerous commercial projects, but sadly its for the employees of TCS, IBM & Ericsson only.
    I did considerable research and found out that its a pretty good investment opportunity. Being on Gwal Pahadi makes it an attractive investment since its considered to be the next big thing in Gurgaon.

    Right now the market rate in that region is around Rs 8500/ sq ft but its being offered to those 3 company employees at around 6300/ sq ft. Considering the amenities they are providing ( stated in brochure ), I think its pretty good bet and I am so jealous that I don't fall in the qualifying category..

    Cheers!!
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  • Originally Posted by snitesh
    Hi All,

    IC guys are trying hard to sell this one, so be carefull. Initial booking amount is only 1 lac and 30% needs to go in 90 days, so it is time linked and not construction linked plan. All the big names like .. JP Morgan etc etc.. do not believe in all this.

    To offer 700/- plus 1 % discount to employees of TCS, IBM & Erricson "IS BUT NATURAL" as these are the companies moving into the offices initially. So, builder is making headline by using their names again whereas it is nothing actually.

    Check for all the approvals before getting lured into this as commercial space is already ready so builder should have it in place.

    Thanks


    Hi Snitesh,
    Your concern is appreciated, however I was told by my friends in TCS and IBM only that they are in fact not doing any publicity or marketing gimmick ( unlike a project of same stature Mahindra SEZ, Chennai ) since the govt. norms ask them to be very subliminal.

    ASF Infrastructure is an organization which takes basics very seriously and also I have heard that approx 30% of the project is already booked.

    Recently they have roped in Shapoorji Pallonji as contractors who are a name to be reckoned with...hence while concerns should be there, there are ample reasons to explore this property as prospective investment!

    Cheers!!
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  • Originally Posted by "Sandeep kohl


    Hi Snitesh,
    Your concern is appreciated, however I was told by my friends in TCS and IBM only that they are in fact not doing any publicity or marketing gimmick ( unlike a project of same stature Mahindra SEZ, Chennai ) since the govt. norms ask them to be very subliminal.

    ASF Infrastructure is an organization which takes basics very seriously and also I have heard that approx 30% of the project is already booked.

    Recently they have roped in Shapoorji Pallonji as contractors who are a name to be reckoned with...hence while concerns should be there, there are ample reasons to explore this property as prospective investment!

    Cheers!!


    30% only... First news came about 6-8 months ago and still less than 1/3 bookings! I know plenty of guys in one of the 3 companies mentioned and none of them including their friends booked in this project.
    If you visit the area, You will find nothing there apart from office, few 'thadi shops' and ansal valley view! But that's how real estate works in Gurgaon!
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