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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  • Originally Posted by ISHANb
    well on a realistic level , seeing past trends in gurgaon ....until 1.5 yrs from prelaunch if the builder does not start construction ,there is not much to worry about . So that means if spire does not start till 5-6 months it is still safe not to worry , it is only after that , that things could get worrisome .

    Another fact is if construction is not started after 5-6 months from now also thenit would adversely effect resale pricing of the project , and a downtrend would start till date of construction is not announced , this has been seen in the past as well ....

    secondly , spire which has been sold initially at a price way cheaper than its surrounding projects would sell cheaper than them only at least till possession . After possession of project all depends on quality of delivery . ALso i would like to add that although spire would continue to sell cheaper than the surrounding projects , the difference between them surely would decrease .

    But start of construction or at least announcement of construction date is crucial for the project within 5-6 months from now .


    This is fair analysis. Current Investors ( pls see it as market not FORM members ) are ready to exit the project at sub 3000 price, even though the adjacent project of ERA is selling for 3400+. Only a reliable broker/end user can tell what is not working for this project. Will construction news boost their confidence? only time will tell.
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  • Originally Posted by vinaybhatia
    This is fair analysis. Current Investors ( pls see it as market not FORM members ) are ready to exit the project at sub 3000 price, even though the adjacent project of ERA is selling for 3400+. Only a reliable broker/end user can tell what is not working for this project. Will construction news boost their confidence? only time will tell.


    Vinaybhatia, what you have to say about floor plan for Spire south ?. I mean if you compare ERA floor plan with Spire South, which one is having better floor plan?
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  • Era's BSP is 3750 +, at present ( i think it is 4000 ) . Correct me, if i am wrong.
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  • Originally Posted by MANOJa
    Era's BSP is 3750 +, at present ( i think it is 4000 ) . Correct me, if i am wrong.


    Manoj, Is it asking price by builder or resale price in market?

    I have not tracked ERA project closely so I may be out of touch with current numbers.
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  • I am talking of the original BSP, it was 3750, some time back, i understand now it is 4000 ( need to confirm this )
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  • Originally Posted by Agastya07
    Vinaybhatia, what you have to say about floor plan for Spire south ?. I mean if you compare ERA floor plan with Spire South, which one is having better floor plan?


    Agastya, I agree that spire floor plan is not that great but I doubt that this is the only deterring factor for investors. I guess people were expecting more ( progress/CRM etc ) from them because of FDI involvement with the project. Also the involvement of three companies and no check collection on the name of Sipre has also not worked for few first time buyers ( investors/end users).

    But if Spire Management takes good control of situation now and show good commitment to the project, it can give decent ROI in long term.
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  • Originally Posted by Agastya07
    Vinaybhatia, what you have to say about floor plan for Spire south ?. I mean if you compare ERA floor plan with Spire South, which one is having better floor plan?

    OK.... Agastya we all heard you and accepted that the floor plan is not that good but having said that, floor plan may not be the only consideration for a lot of people (even end users)...... we are all trying to do a fair analysis of the situation so i would suggest that lets not be hung upon only one thing and have a more fruitful discussion here.....
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  • Lets hope the constructionn starts and all the speculation is rest to peace............

    Lets keep the fingers crossed and may all the spire investors also get the same kind of return which invetsors of some of the other projects in the vicinity
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  • floor plan

    Originally Posted by Agastya07
    ISHANb Bhai, great review. Just want to add some thing,

    1- Spire south honeymoon period of 1.5 year is over and yet no news to start the construction works at site.
    2- Pricing of 4000+ for Spire south is not justified because of bad floor plan. I repeat Spire South floor plan is one of the worst floor plan. Investors may be happy with their investment but not the end-user. If some body has to pay 4000+ defiantly he will look at floor plan.

    Why is there so much talk about bad floor plan , when the company is offering flexi plans and are willing to change as per your requirement.
    the floor plan seems to be like any normal modern dwelling unit . yes it is not very similar to other plans where all the bedrooms open into just one small space connecting then to the dining area or living area.
    what exactly makes you feel that the plan is bad , if you share that we will be wiser
    thanks
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  • Originally Posted by merril2222
    Why is there so much talk about bad floor plan , when the company is offering flexi plans and are willing to change as per your requirement.
    the floor plan seems to be like any normal modern dwelling unit . yes it is not very similar to other plans where all the bedrooms open into just one small space connecting then to the dining area or living area.
    what exactly makes you feel that the plan is bad , if you share that we will be wiser
    thanks



    Builder is earning lot of interest. For 50 lakhs property he is earning 9 lakhs per year. Huge profit to builder. Now he can make two more towers with the same public money.
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  • I agree, but do u know of any builders, who does not suck the blood of their investors ?
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  • Originally Posted by Agastya07
    ISHANb Bhai, great review. Just want to add some thing,

    1- Spire south honeymoon period of 1.5 year is over and yet no news to start the construction works at site.
    2- Pricing of 4000+ for Spire south is not justified because of bad floor plan. I repeat Spire South floor plan is one of the worst floor plan. Investors may be happy with their investment but not the end-user. If some body has to pay 4000+ defiantly he will look at floor plan.



    I am not an investor in Spire neither I plan to be so my POV is neutral.

    Agastya - what I have learnt is -

    1. 'justified' is a word best forgotten in Gurgaon RE. I don't believe any rate is justified. 5500 for PP, 10000 for M3M, 3000+ for Exway sectors but thats my pov.

    2. What's bad for you is not necc bad for others! I find gk kothis zillion times better than GGn apts no matter if they face golf course with apsarayein swimming in the pools of daru. I believe bishan or durb have a completely opposite POV. (I think all of us will like the apsarayein+daru part but I mean the locn part :D)

    Everyone has a different set of criteria to decide if the rate is 'justified' or if the asset/design/location is 'bad'.

    badhiya hai ham sabka criteria thoda alag hai
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  • 'justified' is a word best forgotten in Gurgaon RE

    very aptly said... the pricing have defied all logic...
    ppl still buy as they have there own set of reasoning...
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  • Very appropriate advise, but i am sure for certain people that this idiom fits quite well " KAAN PE JOO NA RENGANA " .:bab (45)::bab (59):


    Originally Posted by gauravag06
    OK.... Agastya we all heard you and accepted that the floor plan is not that good but having said that, floor plan may not be the only consideration for a lot of people (even end users)...... we are all trying to do a fair analysis of the situation so i would suggest that lets not be hung upon only one thing and have a more fruitful discussion here.....
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  • vinay, this is the quote, i got, yesterday -

    ERA Sec- 68 SKY VILLE 2BR 1350sqft 3800/-

    Spoke to the broker, it is actually a 3 BHK & after negotiations, final agreed resale price was 3700 . He says, he can get me a 2 BHK also, but price would be approximately 3850 . Have not cross checked with more brokers & there could be more scope of discount/negotiations here .



    Originally Posted by vinaybhatia
    Manoj, Is it asking price by builder or resale price in market?
    I have not tracked ERA project closely so I may be out of touch with current numbers.
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