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Looking for right Project for Corporate Booking

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Looking for right Project for Corporate Booking

Last updated: June 11 2011
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  • Looking for right Project for Corporate Booking

    Sirs,

    I represent a very large IT company with multiple offices across India and all over globe. Based on our staff's and management request we are looking to identify a project in NOIDA that we can recommend to our staff. Obviously we would like to negotiate the best prices. We envisage some 100-200 bookings easily in various sizers and are willing to commit that much. Our staff will be looking for 2-4BHK options.

    I am officially empowered to identify the project and negotiate the price.

    I request you to suggest some good projects that we can look at. Also provide advice on the price range.

    rgds,
    PC
  • #2

    #2

    Re : Looking for right Project for Corporate Booking

    Folks,

    Please give some suggestions.

    rgds,

    Comment

    • #3

      #3

      Re : Looking for right Project for Corporate Booking

      Folks, Mo0derators and Administrators,

      I don't know whether it is teh right place to leave this post, but for lack of better knowledge about the forum, I shall just put it here.

      Its a terrific place to be. i was recently told about this forum by a colleague as I was entrusted with finding a right project and negotiate lowest rates in a corporate deal for our staff. I have been spending a lot of time over the last couple of days. This forum is really really informative.

      Forum members here are extremely knowledgeable. Salute to you guys. I have got excellent help here.

      I am still to work out a project for our staff. But my task is so much easier now (except for the fact that I know the issues with each project now and its so hard to accept those after knowing them...lol). And now I definitely much more knowledgeable on the subject then i was a couple of days ago.

      Thank you folks. Keep up the good work.

      Comment

      • #4

        #4

        Re : Looking for right Project for Corporate Booking

        Would be very difficult to help you in this regards... i hope you will agree that Lot of leg work would be required:

        I am sure you will check projects w.r.t to the following:

        Loading: Lesser the better, some Builder give carpet area up to 80-85% of super area, while some just give just 60%...

        Flat Density: Lesser the better

        Location: Expressway, Developed and inhabited sectors in Noida or new sectors like 7x, 10x, 11x or 12x etc... Each one of them have their positives and negatives.

        Reputation of the builder: Reviews of builder from people, Visiting previous projects done, talking to RWA or resident there etc

        Other Developments around: proximity to Markets, schools, parks, public transport, companies/Jobs etc

        Other amenities provided: Club, other facilities, layout etc

        Avoid builder who have defaulted in the recent past or who are having too much on their plate... I hate naming builders but looking at last 2 years: jaypee, Unitech, eldeco, Amrapali, supertech etc... I am not sure whether 3c and logix are going the same way..somebody please comment...

        It would also not be a bad idea to look at some existing project launched some time ago where construction has started and some inventory is left, if the requirement is early possession and not a huge no of flats...

        Or you can approach any reputed builder with your requirement if he can customize the layout of his new tower as per your need... I know of many corporates like NTPC, CSC, HCL who have done it earlier...

        Comment

        • #5

          #5

          Re : Looking for right Project for Corporate Booking

          please Excuse me if i am doubting your knowledge but just to write once again:

          Flat density= No of Flats/ Acre

          Loading: balance area out of super area which is not your carpet area..Calculate carpet area by adding the area of all rooms, kitchen, toilets, balconies... Some Builders cheat by giving bigger balconies and less covered area as construction cost of balcony is less...

          I am sure you already know this, but just thought of writing...

          Comment

          • #6

            #6

            Re : Looking for right Project for Corporate Booking

            Thank you bro. I knew most of that stuff but it still summarizes things very concisely and clearly. It reinforces the main points and I thank you for that.

            Tell me something - Most of the builders that we have been visiting have been quoting 18-20% loading/efficiency. I assume both are same terms - looked from different sides of 100%. Correct me if I am wrong. Anyhow, when we calculated the total carpet area available and divided by the total sale able area, it came out to be much lesser. As less as by 40% in a few case. I was later told that loading is calculated for total built up area - which I presume is with areas covered by walls too.

            Now I have few queries:

            a) Is that the correct representation?
            b) what is a good efficiency no?
            c) how to calculate the actual loading as none of the builder declared to me the area covered by the walls.
            d) should the comparison be done on carpet area available or builtup area.
            e) do all builders use the same calculation method? Is it published somewhere?
            f) are balconies/common areas included in the calculations at 100% factor? I remember, in Pune I paid 50% for the balcony area.

            Any inputs on this would be very welcome. Thank you all in advance.

            Comment

            • #7

              #7

              Re : Looking for right Project for Corporate Booking

              PankyChanchy, what kind of additional benefits, u expect or seek from Builders ( in addition to additional discounts - please give, yr. targeted additional discount) in corporate bookings ?

              I am just curious to know, u may choose not to answer .
              Last edited June 5 2011, 07:58 PM. Reason: typo
              Please read IREF rules | FAQ's

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              • #8

                #8

                Re : Looking for right Project for Corporate Booking

                Nothing extraordinary really. If we are to book some minimum 100 apartments, builder should be saving upon a lot of marketing and administrative costs including getting a lot of ready liquid funds. That should fetch us a fair discount. Obviously every builder is there in the market to make money, we are not expecting them to be agreeing on a price that is not viable for them. But then we surely are looking for them to be making a couple of percentage points less in their profits. I hope I am not wrong in stating that association with one of the biggest global corporate name will give the project an impetus and standing too.

                Having said that, price is an important but the last item on the list. We want to assure ourselves of the fact that builder will be transparent with us with all specifications, loading etc. Our staff shall get an absolute professional service. We should get a sound legal assurance of timely delivery and so on. In fact, many of our CXOs are looking to invest themselves. So you will understand that I can't compromise on that front. We are not very finicky about the past reputation of the builder as we tend to believe that first timers have a greater zeal, but we would like to be reassured of the financial position, shareholding patterns etc. We would want to get all papers submitted to us before both parties sign on the dotted lines.

                Apart from that, we are looking for core NOIDA only. Sector 7X, 10X and Expressway only.

                If the expectations are unfair, please feel free to point out. Also, if we should be looking at few more critical items, i would be thankful if you point those out.

                My regards,

                Comment

                • #9

                  #9

                  Re : Looking for right Project for Corporate Booking

                  Standard book comment, i was expecting something better/honest ( have seen such comments, many times ). Anyways, thanks for the reply .
                  Please read IREF rules | FAQ's

                  Comment

                  • #10

                    #10

                    Re : Looking for right Project for Corporate Booking

                    Originally posted by PankyChanchy View Post
                    Nothing extraordinary really. If we are to book some minimum 100 apartments, builder should be saving upon a lot of marketing and administrative costs including getting a lot of ready liquid funds. That should fetch us a fair discount. Obviously every builder is there in the market to make money, we are not expecting them to be agreeing on a price that is not viable for them. But then we surely are looking for them to be making a couple of percentage points less in their profits. I hope I am not wrong in stating that association with one of the biggest global corporate name will give the project an impetus and standing too.

                    Having said that, price is an important but the last item on the list. We want to assure ourselves of the fact that builder will be transparent with us with all specifications, loading etc. Our staff shall get an absolute professional service. We should get a sound legal assurance of timely delivery and so on. In fact, many of our CXOs are looking to invest themselves. So you will understand that I can't compromise on that front. We are not very finicky about the past reputation of the builder as we tend to believe that first timers have a greater zeal, but we would like to be reassured of the financial position, shareholding patterns etc. We would want to get all papers submitted to us before both parties sign on the dotted lines.

                    Apart from that, we are looking for core NOIDA only. Sector 7X, 10X and Expressway only.

                    If the expectations are unfair, please feel free to point out. Also, if we should be looking at few more critical items, i would be thankful if you point those out.

                    My regards,
                    May I know..what ground work you people have done...
                    If you going to book 100 apartments, means 100 people to book, (considering one person books 1 flat only)....you must have done some ground work. Why don't you share which projects are on your shortlist. For you requirement, only new projects which are yet to be launched will have inventory...else...many people in ur group will have to compromise on the floor, landscape facing...which I am sure..no one'll prefer.... What's your take on this...which are on the shortlist.

                    now, don't tell me..you have not shortlisted any projects... if not yet...friend please have a visit of the preferred location... this online forums are helpful..after..u urself have done some ground work.

                    I am advising for your own good.

                    Comment

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