Dear members,

I want to know if anyone of you have some update on Spire South project if they have got the required licence and approval or not.

Also please advise if I should continue with this project or not.

Thanks

Millennium Spire Ltd presents its new residential project Spire South in Sector-68, Gurgaon. Presenting a unique and new concept in housing, Millennium Spire South offers apartments customized to your lifestyle and desires, means it is you decide everything about the interiors from the colour and type of the tile to the type of paint on wall and ceiling and the fixtures in the kitchen and bathrooms. Millennium Spire South offers 2 and 3 bedroom apartments with areas ranging from 900 Sq ft to 1500 Sq ft.
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  • Agar dlf ke saath ho sakta hai to spire kya cheez hai
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  • ho to kisi ke saath bhi sakta hai but i dun think spire has got the balls to come out of this....
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  • There should be a FIR against the builder. A case should be filed . Investors money should be returned with interest if builder cannot start construction.
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  • Returning money with interest is not going to be acceptable as that will not match up with the escalation that has happened over the past two years.
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  • Originally Posted by sd1976
    Returning money with interest is not going to be acceptable as that will not match up with the escalation that has happened over the past two years.


    oh really , so you want market (virtual) price or the price your broker told you will get from this investment?:)
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  • Did I say that... All I implied is that the only option is to stay invested in the project and jointly pressureise the developer to get this moving. Is that too much to expect :)
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  • I completely agree with sd1976. We have to all join hands and put pressure on the builder. Builder cannot take us for a ride. Its our hard earned money.
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  • It seems Spire is having problem in all the project. Spire Edge investors are also crying and same is the case for other Spire project. Not a good sign.
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  • I met the spire CRM this week and he confirmed that the bank loans would be done soon. Infact he also mentioned that SBI is on board for spire woods, which can also be confirmed by the discussion going on the the spire wood thread. Hopefully sbi would also start funding spire south soon.

    For the issue with the villagers he mentioned that the neccesary action is being taken and it would be sorted out soon.
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  • If anyone is having a bad day, remember that today in 1976 Ronald Wayne sold his 10% stake in aple for $800. Now it's worth $58,065,210,000
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  • Originally Posted by rs2507
    If anyone is having a bad day, remember that today in 1976 Ronald Wayne sold his 10% stake in for $800. Now it's worth $58,065,210,000

    nice fact. At the same time ppl should remember that Enron was worth $60 Billion and overnight was zero worth.
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  • Was at the site today and met a few unit owners. Also met the site supervisor who shared some more information. The real issue was between ERA and the villagers. Spire is not directly speaking to the villagers, it actually is ERA who incidentally also has its own project stalled.
    As per the site supervisor, the real issue being faced is to get the TMT and iron bars (read SARIA). Cement is stores in the ware house and some basic work is being done where possible.
    Alternate possibilities being explored to find out an alternate road. One option is to wait for the harvest to mature on a peice of land and use that land portion to get a road.
    Indications are that Spire has serious commercial interest in the area as has picked up 5 acres of commercial space adjoining the residential project for a commercial venture for approx 12 crs poer acre against 3 crs per acre that they paid for the residential land.
    Also plans are to relaunch additional units (G+4 and larger units) that did not get picked in the first phase.
    Finally, there is no timeline for the issue to be resolved however expected to be done ASAP. Site supervisor alsoe confirmed that in case the work starts now, will take 3 years to handover units so this is the first confirmation that the project is delayed as per the BBA T&C.
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  • So they were basically fibbing when they (CRM) told us construction will start within a week. I guess its time to start meeting every week and escalating within Spire, while looking at other options such as HUDA.

    If genuine buyers can register at the Spire South Owners page on Facebook that will help us connect and also keep brokers and other riffraff out of these discussions.

    I and a couple of others plan to meet CRM again coming Saturday - perhaps those who visited the site yesterday can join too?
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  • I have been to site on Saturday at around 12:20 pm. Talked with Supervisor and Assistant Manager, everyone has the same story, talk is going on, we are exploring further options/ alternate routes, issues will take it's own due time but we are trying to get it resolved soon.

    AM told that Spire has bought several other lands nearby and has increased it's interest in this region they are trying hard to get this solved.

    This area definitely looks promising with Reach commercial touching Spire boundary, JMD commercial at other side, Ansal, Ireo, Bestech also at other side. But not sure on Spire issues, till this Project doesn't get bankable nothing can be said on it's future.

    I could not find any other unit holder's at Site, as planned on Saturday 12 pm.
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  • Spire has been a name synonymous with Trouble for investors....since th beginning , the only silver lining being that the returns have been there , But isnt that with every project booked at that point of time , Dwarka expressway projects such as ERA , Chintels , Mahindra have given much better returns even when the site cannot be compared to 68 sector and ERa's construction also hasnt started as well , Basically it was the time of investment that matters ...Sadly Spire has spelled trouble for all there projects , Please dont think that I am trying to defame the project (Not that it can go any lower anyway...)

    But my point is any investment in ggn (almost 80% of projects ) which were booked in 2010-2011 have given similar or better returns than this project , not to forget the headache's with the CRM and everything....
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