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Any update on logix technovawhere is this project heading

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Any update on logix technovawhere is this project heading

Last updated: August 30 2012
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  • Any update on logix technovawhere is this project heading

    Dear All,

    Nothing seems to moving here on this Logix's IT office project...
    Seniors please advice about the future of this project.

    thx
  • #2

    #2

    Re : Any update on logix technovawhere is this project heading

    What is the current status?

    Comment

    • #3

      #3

      Re : Any update on logix technovawhere is this project heading

      One block is almost completed and shall be ready for operations in next 2-3 months.
      It has virtual and lockable space both.
      The problems with Technova are obvious:
      The small size lockable spaces are complete waste. Pillars are occupying most of the space and you dont get the desired carpet area.
      There is just one toilet on each floor. This is clearly a design flaw. Two toilets at least are required for a floor of that size.
      For small size lockable space, people prefer furnished space. But, they are providing bare raw space.
      No specific arrangements made for food courts.

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      • #4

        #4

        Re : Any update on logix technovawhere is this project heading

        Whats the project size of technova nishant?

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        • #5

          #5

          Re : Any update on logix technovawhere is this project heading

          I heard there is a food court planned on the ground floor. Section A was to be completed first. .. BTW what are the current rates. I remember last september they were asking for Rs. 4000 psft. Small office sizes were the biggest attraction. However the concerns you raised are quite relevant.

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          • #6

            #6

            Re : Any update on logix technovawhere is this project heading

            The rates are around 3900 for lockable space. Heard some big investor had bought a complete floor and is trying to exit now.
            Yes, food court is planned as of now but that looked more of a makeshift arrangement since the floor supposed to house a food court is also similar to any virtual space floor in the block.
            Don't know about the exact size. Should be around 3-4 acres. There are 2 blocks.

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            • #7

              #7

              Re : Any update on logix technovawhere is this project heading

              Location seems to be good. Price is also good. May be with time this project will pick up. Was surprised when this project was on offer 4000 1 year back with building ready and internal work going on. Even surprised now why this did not got sold even with small ticket size of 400sqft.

              What is the status of Adobe building coming up adjacent to this.

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              • #8

                #8

                Re : Any update on logix technovawhere is this project heading

                It (Adobe) is still in initial stages of construction. Only couple of floors if i remember correctly.

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                • #9

                  #9

                  Re : Any update on logix technovawhere is this project heading

                  Thanks a lot for the replies...plz also advice ..is it gud to hold a block B unit...the unit is a corner one on 6th floor...

                  when we invested the reasons given in favour were:

                  good location, next to Adobe building, Jaypee residential handover seems possible in next 1.5 yrs, expected appreciation given the price at which these were offered was quite competitive...

                  but even after almost 8 months all these +ives looks a distant dream.

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                  • #10

                    #10

                    Re : Any update on logix technovawhere is this project heading

                    All these positives are still very much there.
                    However, other than the cons i mentioned, If I remember correctly, the monthly maintenance charges are 15 psf which is quite a lot given the expected services/common amenities.
                    Is it a lockable space or virtual space?
                    If locakble, unless you need it for your own business immediately, there are many broker agencies that are looking for 500-1000 sq. ft kind of space. Hence, if lucky, you may be able to lease out. However, the net profit may only be in range of 10k to 15k given the high maintenance charges.
                    Given the quality, I do not expect rates to rise at same level as ansal's and advant's did.
                    I am not sure how would the firms react to a rather not so well planned virtual spaces of this size and there are a lot of ifs and buts. Hence, can't comment on the same.

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