Hi

As there is no separate thread on this project i am starting is one.

Summary : a project called luxury project by its developpers. Prime location on expressway but unreliable builder and weak layouts.

No one seems to be interested as this plot is owned by divine who has given zero results to old investors, very slow, rather zero development on the old plot.

Now the new project is sharing between divine and unity, unity projects who enjoys good reputation in pitampura area and is famous for quality projects, mostly commercial. Divine has cash crunch and unity is apparently cash rich

Minus points : divine builder has a poor reputation, all old customer are disappointed with slow progress.

Divine is facing cash crunch so not much hopes.

Their layouts are particularly bad

Loading is quite high so you get less value for money.

Big risk is progress is slow, loan cases will be bad as loan cases suffer the most with slow moving projects.

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Plus points :

Prime location, better location plot than Ats which is at 6500 Rs clp (new price since last week)

Unity enjoys a good reputation and it has started showing up in new brochures, project model and work on sample flat going on.

Luxury project so only big sizes

Probability of construction contract going to Ahluwalia contructions, if this happens then it is surely a success, they have constructed ahlcon international school, leela hotel chanakyapuri, commonwealth games flats etc....

Just the beginning so initial investment is low compared to other projects like panache/ats one hamlet etc....low price psf (4395) and low initial investment whereas better location plot.


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Brief result : seems risky till now , i would not invest due to old record of divine ( unless it is confirmed that construction contract goes to ahluwalia which will change scenario )but a friend has booked biggest size flat today , will compare progress of my flat (sunworld vanalika) to his flat and see which one appreciates better !!!!

After one year we will see EITHER people who earned good money in this project OR OTHERS who will cry why they booked a flat in this project.

Await your views on the same.
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  • i visited that area today .. divine meadows is still moving at snails pace .. better avoid anything which has involvement from divine india infra !! better options are available
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  • I agree, seems little risky, we spent whole day there today but my friend decided to take this panga , time will tell if he becomes a proud owner of flat or not...i just loved plot location but divine ka naam bahut kharab hai
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  • location is good..and all positives end here :)
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  • Location seems lajawab, price is also lajawab, 2.12 crore for bigger one, 4500 or 4600 sqf... Making a home is like making a mahal now a days...it's so expensive...i told my friend half his money is going for buying huge balconies..hahaha...otherwise if things work out well it might become a premium product..
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  • My friend got invitation for Bhoomi poojan on 28/01 for parx laureate, i think i will go with him to see the feel of 4500 sqf sample flat...
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  • Bobby

    You have a strong grip on Noida region RE and you still let your friend buy Parx?

    Originally Posted by Bobbydel
    My friend got invitation for Bhoomi poojan on 28/01 for parx laureate, i think i will go with him to sell the feel of 4500 sqf sample flat...
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  • Best thing now a days is to leave people free cos if u insist too much and things go wrong then they will say - i suffered a loss because of you. So i prefer limiting advice to a certain extent. Moreover i think sometimes we get surprises despite our seemingly good calculations as luck plays a lot. Sometimes we think these are dump projects but results can be good and vice versa. And end of the day these builders are capable of selling anything and everything...I am specially curious to see how does a so called LUXURY SAMPLE FLAT of a not good reputation builder looks like at a prime location of noida..

    When i saw the location i thought any good builder like ATS would be capable of selling such well located project at 8000 Rs...but this builder seems a big risk to me. Anyways time will tell.

    They gave fake hope to buyers like it will be constructed by Ahluwalia and so on but i dont think they have confirmed the name so it seems to be a marketing tactic till now. If they really get a company like Ahluwalia or L & T then i am sure it will pick up but i doubt someone like divine engaging a good brand for construction.
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  • Right. And even if they do hire a top contractor, who's to tell weather they'll keep paying him timely.

    I agree with you, RE throws up many surprise winners sometimes. But builders such as these have so many 'stings in the tail'. Even if they construct timely, they'll increase the super area or build a new tower in place of a club, or not get NA permission for registry etc. We've all learned by experience, the long list of things that can go wrong in builder appts...I wonder what kind of people make such large investments in such unsafe projects. It will be interesting to know was your friend too naive? or has the muscle power to draw his return from the builder, no matter what, or does he know something that we don't know?
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  • He was initially keen on finalizing vanalika but didnt get size of his choice and unit of his choice. Then somehow he was tempted by price increasing next day, though it remains on paper only, he in mentally happy that price of his flat increased by 25 Lakhs next day and he says it will increase by another 25 lakhs in mid feb...so he is dreaming about 50 L appreciationin 2 months whereas i think he cant even sell on cost price even after 1000 Rs imaginary increase. Finally i think if he stays invested for 2 yrs then he will get decent returns IF CONSTRUCTION GOES AS PLANNED .

    For me it is like an experiment to see who earns more appreciation per square feet ( vanalika or parx , me or him )after one or two years...
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  • Not a perfect comparison, since both are less renowned builders.

    Sld compare with ATS / 3C / Purvanchal to figure out if high risk leads to high return?

    My experience in last few years shows me if chosen wisely, low risk (big builder) throws up better return even though entry price is relatively higher...

    Nitin
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  • Went to parx laureate bhoomi pujan today with the friend who booked there. Good arrangements for lunch n cultural prog. I was quite surprised to see the no of people as i expected fewer people cos i heard very few brokers are involved in this as company is keen on working with very few brokers. So there must have been few brokers n mostly flat owners and builders staff. Investors seemed well to do people , some with big cars like jaguar etc...Sales people told they have 550 flats inventory total and 310 are already sold ( difficult to believe as it is a big size tiket of 2 Cr ) . I came to know that same builder : unity : is bringing an ultra luxury project in delhi kingsway camp with a golf course...has anyone updates on this?

    Overall impressive but i wish this plot belonged to a company like ATS or PURVANCHAL, they would do wonders at such location.
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  • Its hard to belive that they had so many booking, in other aspect its good that noida gets good respone from investers hope end users r more in this project. R they planing to build sample flat also.
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  • Yes , the sample flat was under construction at that time, they told it will b ready by feb end and they will revise price with this. The sample flat is the biggest one, 4500 sqf. Seems to be huge, we went in but it was quite raw yet to have a feel of real sample flat..
    The guys in marketing said the probable construction companies could be ahluwalia/b l kashyap , L & T or even paloonji. Difficult to believe paloonji or L&T as it wud b too small project for them. Even others are very very renowned like ahluwalia or kashyap. Do u think a small project like this can b accepted by such big companies ?

    How would you rate these companies , they all seem big brands to me BUT i doubt parx laureate might use the names to sell n later confirm a smaller company instead of these. What do u think ?
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  • I anticipate the same, 3c had already entered into an agreement with the contractors before panache was launched. for parx, seems like its just a marketing gimmick!
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  • Brief update : always avoid unreliable builders..parx laureate did bhoomi poojan few months ago in end jan. they were telling that they delayed bhoomi poojan as they wanted the sample flat to be ready at b.poojan time. In dec they were telling sample flat wud b ready soon. Finally they did bhoomi poojan before sample flat was ready saying sample flat will take 3 weeks but infact since december they have been telling 3 weeks and even today they are saying 3 more weeks for sample flat.. Imagine if a builder cant make a sample flat in 6 months then how long will he take to make 550 flats ?
    Moreover they just had IT raid so its not going to boost their speed...on the contrary it might slow it down further...
    Moral of the story :: if u are really lucky then you can get returns from less reliable builders otherwise its always better to go for reputed builders and avoid ones like parx laureate..
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