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.
Read more
Reply
5741 Replies
Sort by :Filter by :
  • rvm, must have missed on yr. post . I was speaking to a relatively trusted broker yesterday & as per him, Spire now has all the permissions & construction can start anytime . The guy was 100 % confident on this .

    Would request u, to again seek confirmation/clarification from Spire .
    CommentQuote
  • Originally Posted by MANOJa
    rvm, must have missed on yr. post . I was speaking to a relatively trusted broker yesterday & as per him, Spire now has all the permissions & construction can start anytime . The guy was 100 % confident on this .

    Would request u, to again seek confirmation/clarification from Spire .



    I just reached back after visiting Spire office in Gurgaon...

    They have recieved the EC yesterday and they are waiting for the approval of drawings.

    They said the construction would be started only after that and that would be most probably in month of June (As per them).

    The third installment may be asked in last week of April.

    - Gaurav
    CommentQuote
  • Chalo getting EC is a good news...
    CommentQuote
  • Gaurav, thanks for the clarifications :).

    So, now, one more hurdle left & that too is basically time based . So, we may finally see construction starting by June .
    CommentQuote
  • I am checking the feasibility to invest in the project..since I am new to the RE so have lots of doubts. seeking the views of experienced/senior people in the forum...

    Here is the list of questions :-

    1) How much money(in one go) is needed to buy a 2BHK(1290 sqft) unit in re-sale.
    Considering that the current resale is happening at 2900-3000 , there would be certain premium with respect to original booking price so usually whats the trend in terms of white/black money about the premium amount.
    Also when was the project launched and what was the original booking price at that time.

    2) How much payment has been made to the builder(read in previuos posts that its 20% , so 20% at what rate..looking for figures)

    3) From the ownership perspective, what all documents builder has given ( payment reciepts, allotment letter, builder buyer agreement , etc ). About the clause of transfer of ownership , does it varies with the builder to builder and project to project or there is some standard rules that transfer can only happen if certain % payments has been made to builder and certain document are in hands of present owner/buyer.

    4) Considering that I am salaried and it wont be possible for me to continue without the bank loan in future to pay the price..So usually bank finances when the construction starts happening or still there could be risk that even after commencement of construction the banks are not ready to fiance the project.

    5) I am considering it for possible end-use. Would it be worth decision 3-4 yrs down the line when the area gets developed.

    6) How safe is the investment in this project. What are the risks involved apart from the construction delays? Also about the delay in contruction usually there is clause of 3 years possesion so the time starts counting the day allotment letter is given ?

    I know I have asked too many questions and even I may get couple of them cleared If I aprroach any broker but I dont want to get into sweet talks of broker and I am looking for genuine views.

    Please feel free to answer any of the questions above (if not all) randomly.

    My sincere thanks to the experienced/senior members . Looking forward for the guidance to learn the things in RE market.
    CommentQuote
  • units going for 2950 per SQFT for 4th Floor 2 BDR apartment.
    3 BDr will be cheaper.

    Taking example pf 1400 sqft apartment.
    Most People who are selling it are once who have purchased at 2300 SQFT. So taking it as the benchmark.

    You will be paying 1 % commission = 40K
    You might have to pay 5% transfer charges depending on how many installments have been paid = 70K

    White Component = Most people have paid 20% = Rs 6,44,000/-
    Black Component = Rs 9,10,000

    PLC if any would have to be paid separately.

    The transaction will happen in Spire office of Vipul Agora.

    PLC if any would have to be paid separately.

    The transaction will happen in Spire office of Vipul Agora.

    PLC if any would have to be paid separately.

    The transaction will happen in Spire office of Vipul Agora.
    CommentQuote
  • Status Update

    Originally Posted by MANOJa
    jankit, i have seen this website, but being a govt. website, really not sure, how much updated is this one kept ?


    ..........& u could be 100 % right on the EC of Spire, South . Guys, please call up Spire people tomorrow, to confirm .


    I have couple of updated W.r.t. Project.

    a. index
    Status has been updated from "PENDING" to "Pending with SEIAA"

    364 M/S Soni Infratech Pvt. Ltd. 517 A, Narayan Mazil, 23 Barakhamba Road, Connought Place, New Delhi. EC for proposed Group housing Project "Spire South" at Sector-68, Badshahpur, Haryana. 12.01.2011 Pending with SEIAA


    b. Attaching the minutes of meeting and issues of contention taken from website of SEIAA Haryana with which the case is pending and clearance is Pending.

    Pages No. 24 to 29 of Attached Minutes of 56th Meeting of SEAC

    The PP may be advised to submit the complete required information as detailed above minimum one week before the next meeting and it may also be made clear to the PP that his project will only be considered as received only after the receipt of complete information. In case of non-receipt of information in time; the case shall be recommended for rejection/ filing. It was also decided that this case will be taken up in the 56th meeting to be held on 28.03.11. The shortcomings and the information about taking up this case in the next meeting on 28.03.11 were also conveyed to the PP in the meeting after the presentation.
    CommentQuote
  • I understand from Spire's management that EC has been received by Spire . Please correct me, if i am wrong here .

    Now, there is supposed to be some zoning issue . Could somebody explain, what exactly is zoning :bab (38):?
    CommentQuote
  • As per my understanding, there are 2 agencies involved:

    SEAC = State Expert Appraisal Committee (SEAC). notified by Ministry of Environment & Forests, Government of India
    &
    SEIAA = State Level Environment Impact Assessment Authority Haryana

    File has been cleared by SEAC and this file is now with SEIAA.
    CommentQuote
  • jankit, any idea. what exactly is Zoning ?

    Any body else , who may be aware, please explain .
    CommentQuote
  • Zoning = Commercial, Agricultural, residential. Practice of designating permitted uses of land based on mapped zones which separate one set of land uses from another. Zoning may be use-based (regulating the uses to which land may be put), or it may regulate building height, lot coverage, and similar characteristics, or some combination of these.

    I think Spire had applied for change of land use from agriculture to residential.
    CommentQuote
  • Originally Posted by jankit
    As per my understanding, there are 2 agencies involved:

    SEAC = State Expert Appraisal Committee (SEAC). notified by Ministry of Environment & Forests, Government of India
    &
    SEIAA = State Level Environment Impact Assessment Authority Haryana

    File has been cleared by SEAC and this file is now with SEIAA.


    yes, there seems to be two agencies. One of them has given them GOLD RATING. I am not sure what that means

    Page 26:

    After deliberations, the committee rated this project with “Gold Rating” and was of the unanimous view that this case for granting environmental clearance under EIA Notification dated 14.9.2006 should be recommended to SEIAA with the following stipulations:
    CommentQuote
  • SEAC has granted GOLD Rating based on the clarifications provided by SPire on questions they raised. The Rating and Clearance comes with riders, mentioned in same paper.

    The file reached SEIAA which does some Assessments and finally grants EC. According to Manoja thats already in place, which if true is a good news.

    Next is the drawings and plan goes to some other authority example town planner etc. Which will give their permission and then ...
    CommentQuote
  • Originally Posted by jankit
    SEAC has granted GOLD Rating based on the clarifications provided by SPire on questions they raised. The Rating and Clearance comes with riders, mentioned in same paper.

    The file reached SEIAA which does some Assessments and finally grants EC. According to Manoja thats already in place, which if true is a good news.

    Next is the drawings and plan goes to some other authority example town planner etc. Which will give their permission and then ...


    I visited Spire office last week. Dont remember the day exacly. But Spire people said they recieved the EC a day before and they would be getting the copy in office by evening... They said that I can come and check the copy same day in the evening...

    But the things look to differ as per the status on website....

    I dont have much faith left in Spire people...
    CommentQuote
  • Hi Gaurav: Would be great if you can check EC at there office. Also, ask them what is holding them from starting construction as they have received both EC and zoning plan

    Thanks for the effort
    CommentQuote