Hi

I was looking for an apartment in Noida and I came across Today Homes' Ridge Residency in sector 135. I see there has been no mention of this builder or this project in the forum. Does anyone know about this builder and this project? Any input would be appreciated.

The other project that I have shortlisted is Gardenia in sector 46, but I see from the discussion on this forum that there may be some issues with the school along the project site. Otherwise, what is the rate you guys have booked the apartment there for?

Thanks


Moderators Note - Please note that there is another thread running on the same Project . Do have a look http://www.indianrealestateforum.com...html#post85926.
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  • Posted in another thread; thought it good to share here:

    Thought i'd share my experience with real estate in past few months, of trying to sell 2 under construction properties ( both attempts were disasterously unsuccessfull).

    In short we are on the cusp of a huge real estate melt down in noida.. Call it a meltdown or real estate bust, or bubble burst. But it seems it is upon us.

    The inventory overhang of noida expressway has risen from 10 months to 20 months in 4 months flat. That means sales have really slowed down. This also has impact on real estate rates and resale. The underlying causes for this are manyfold:

    a) the increase in FAR of new constructions in noida from 1.5 to 2.75 with balconies excluded ( meaning effective FAR of 3.25) .. This has led to a lot of oversupply.,For example Mahagun moderne in sector 78 has 2700 large size flats (even 5 and 6 bhks are there) in 23 acres, which is more than double of Grandwood

    b) The economic slowdown all over india, and the repeated ratings downgrade threats.

    c) Political uncertainity due to the current langdi UP govt.

    d) Not enough offices and industries coming to noida. Gurgaon is rising rapidly, while noida is falling way way behind. On top of it, UP govt is not trying to sell noida as a commercial destination at all.

    e) Rise in law and order problems with new govt in noida ( read SP). This leads to less NRI interest in noida, and lesser interest of people in main delhi.

    f) very few HNI individuals. Mostly budget buyers. This is unlike Gurgaon, where we have over one lac HNIS ( ppl with incomes of 1 cr per year plus).

    Overall, in the past few months it has become a full scale buyers market. Sellers all around, but not many buyers.
    If you are a real estate seller in noida, you are going to face a very hard time in current market. You will hardly find buyers. Any buyer who comes will negociate really hard (unless hes a big fool), as he has a plethora of options to choose from. Some properties may not find buyers at all, especially larger ticket sizes. The smaller ticket sizes are in fact getting more buyers, and the larger ticket sizes have very few buyers, and are infact going at a big bargain.


    I would advise sellers to actually wait for 2-3 yrs. The future of noida is good as a residential destination - where you live in noida, and work in gurgaon or delhi.
    There are multiple projects in various stages of execution connecting delhi to noida
    1. Kalindi kunj metro - work already started. This will go on till Saket at least, and will bring down travel time to gugaon to under an hour.
    2. Kalindi kunj additional bridge -- Delhi govt is very very serious about it.
    3. Mayur vihar to dhaula kuan direct road -- partially made. once made, it will be 20 mins to dhaula kuan.
    4. The road in back of jaypee wishtown connecting to kalindi kunj - 80% made.
    These will take 2-3 yrs to metirialise, and once there it will make noida more attractive as real estate destination. Esp noida expressway.
    But i dont hold too much hope of it being a major commercial destination.

    Ps - dont believe in lies like FNG and Greater noida metro. they are not going to happen in our lifetime. The stories about FNG and greater noida metro are just paid stories.
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  • Hello

    I am looking for a unit of 1225, (not in top 3 floors).
    I am serious buyer, and tracking this property & prices for a while now.

    Please PM me the AI rates (with log in price) .

    thanks
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  • Why leave it a mystery when everyone want to see it, 4,650 was offered to me for 4th floor 1225 sqft in 1st phase last month but I want to hold till it seriously appreciates to around 6-7k'ish after possesion.
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  • As they say Devil is in the detail..

    People are confused between Phase1 and Phase 2...Phase one is more expensive

    3850 rate by builder is a partial DP plan for Phase 2 project...


    The project Phase 1 is all sold out the market rate is 4600-4800 AI. If a seller wants to sell in desperate condition its his will.

    Baki there are others who go to every thread and spread rumours about the market crashing.....

    See their posts that they are posting in other threads....
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  • Originally Posted by rahul2011
    As they say Devil is in the detail..

    People are confused between Phase1 and Phase 2...Phase one is more expensive

    3850 rate by builder is a partial DP plan for Phase 2 project...


    The project Phase 1 is all sold out the market rate is 4600-4800 AI. If a seller wants to sell in desperate condition its his will.

    Baki there are others who go to every thread and spread rumours about the market crashing.....

    See their posts that they are posting in other threads....



    Rahul bhai, sabko pata lag chuka hai that you are invested in this project. Thats why you are trying to justify a higher price since last 2-3 days. Anyways aapke bolne se ya kisi or ke bolne se prices change nahi honge :D
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  • Higher price???? all we are talking about 3-4 laks difference....

    I am only justifying the value of this project, its location, and its future potential...I do not not care who wants to sell at what price....
    I won't advocate to sell at the moment at all....
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  • there is no use to quote any price untill actual transactions happens within a range . . .prices are in range of 4400 to 4600 for phase 1 towers, depending upon seller's greed and urgency . . . buyer's greed and urgency . . . . today scenario is different , just let this society get functional...prices would be diffrent . . . not only in TRR but in all projects in this region
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  • Any one visited the site recently ??? ...any updates on the project ???? any pictures ????
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  • My relative booked in p tower last year jan 2011 and within 2 month they had made 40% payment. But since then no further demand/progress is appearing. can anybody please update the current status?
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  • Real Estate Regulator

    The Union Cabinet approved the bill to set up a regulator for the real estate sector with provisions for jail term for the developer for putting out misleading advertisements about projects.
    Here are 10 things you need to know about the bill:
    1.The Real Estate (Regulation and Development), Bill 2013, seeks to make it mandatory for developers to launch projects only after acquiring all the statutory clearances from relevant authorities.
    2.It also has provisions under which all relevant clearances for real estate projects would have to be submitted to the regulator and also displayed on a website before starting the construction.
    3.The proposed legislation has certain tough provisions to deter builders from putting out misleading advertisements related to the projects carrying photographs of actual site. Failure to do so for the first time would attract a penalty which may be up to 10 percent of the project cost and a repeat offence could land the developer in jail. Moreover, any false advertising implies that buyers will get full refund of the money deposited with interest.
    4. The bill also seeks to make it mandatory for a developer to maintain a separate bank account for every project to ensure that the money raised for a particular project is not diverted elsewhere. According to a CNBC-TV18 report, developers have to keep aside 70 percent of the buyers’ funds in a separate bank account to ensure timely completion of projects. The buyers are entitled to full refund with interest in case of delay in projects.
    5. The proposed legislation provides for clear definition of the ‘carpet area’ and would prohibit private developers from selling houses or flats on the basis of ambiguous ‘super area’.
    6. Under the proposed new law, builders will be able to sell property only after getting all necessary clearances. Registrations of projects with the regulatory authority is a must. This means developers cannot offer any pre-launch sales without the regulatory approvals. Moreover the authority must approve or reject projects within 15 days.
    7. Developers will also be barred from collecting any money from buyers before completing all necessary permits to start construction on the project.
    8. Builders cannot take more than 10 percent of the advance from buyers without a written agreement.
    9. The bill also seeks setting up of a real estate appellate tribunal for adjudicating disputes. The tribunal will be headed either by a sitting or a retired judge.
    10. It also suggests setting up of a national advisory council to be headed by housing minister Ajay Maken to suggest ways to advise the regulator on crucial matters.

    Source ; FirstPost
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  • Any latest news on Possession of Phase 1 towers?
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  • On last staurday there was a meeting at TRR Office at noida . Some 15 flat owners gathered to talk with TRR Management.

    TRR informed that some phase one towers will be handed over in Nov-December 2013. Other will be handed over subsequently.

    Phase -2 has a completion date of 2015.
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  • what is current resale price for phase 1 ?
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  • see hindustan times paper of today on 11/06/2013 page no. 19 in the middle. Noida authority wants suggession from general public feedback on the decision taken by their board on 27th may 2013 for increase in far by .5 along 500 metre of noida to greater noida metro corridor .we have 15 days upto 26/06/2013 we can submit our complaint to authority.
    I think we all should stand up against the wrong decision taken by the board and should write dis satisfaction over the decision taken by noida board.
    Friend i am attaching, my objection/ complaint submitted at Noida Authority office of Architectural and Planning section. Over the phone, it was told to me that you have to write your complaint in the register at Noida Authority by Chief of Deptt. Mr. Pujari, when i met him in his office they told me to write over the plain paper and submit it to Mr. Sareen. I raised my objection to him regarding increasing in FAR by 3.5 as it will increase time of completion of society also, as builder will take more time to do extra job. Also i told him as of now builder is no more incharge of that society or group housing, we already paid 95 % of payment and we customers are the incharge of that society. Noida Authority should consult us before taking any major decision on our soceity, if you ask any one who has sold his all legal rights in the society by selling more than 90% of inventory, NOIDA AUTHORITY IS doing very wrong thing for the innocent customers who has spend their life savings for building their home. Noida AUTHORITY SHOULD TAKE OPENION OF ALL THE CUSTOMERS OF SOCIETY WHOSE FAR WILL THEY INCREASE. Friend this is the time to raise agaisnt these greedy people, if wecontinues keep on thinking that others will do the job for you is wrong and your next generation will not forgive you. We need number and more objection at Noida Authority office. I came to know that mine is first objection submitted at their office and they assure me that they will calll me for discussion to listen my objection. It is better to do some thing now other wise court decison is a long time consuming process. we should raise and submit over objection and keep on informing your friends whoever have got flat close to greater noida metro. More the objection is, more difficult for the noida authoriy to implement as we have receiving copy with us. SEE THE ATTACHEMENT cHIEF ARCHITECTURAL AND PLANNING PHONE NO. IS 01202421753
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  • Hi Senior Members,

    This is my first post on this thread, rather I should say this site. Thanks for contributing such usefull info. Browsed thru several pages of this thread, went backwards upto page 70. I wish to find some answers and may be could benefit from your experiences. I am showing interest in the flats. Obviously I could'nt get satisfactory response from Today's office :-

    1 The brouchure of Ridge residency. The super area for 1225 sqft flat. When I added all the rooms dimension. It gives a total carpet area of 770sqft. This means 37% loading. Please Correct me If I am wrong.

    2 While browsing thru the thread pages, I found someone offering to sell unit size 1390 sqft. But in brouchure I could'nt find this size unit, rather found 1500 sqft. What does this mean ?. Means some guy purchased 1390sqft unit, 2-3 years ago and the same unit size has increased to 1500 sqft. Can I assume that builder has increased carpet area also in the proportion of super area. Is it possible.

    3 I enquired with Today's regarding carpet area, but they are not interested to listen and wish to talk only on super area. They said that even in agreement to sale , allotment letter etc. they will mention only super area. But as a enduser, I am more interested in carpet area. Is it a market norm, not to mention carpet area in documents. ?

    Thanks in advance for clarifying my concerns.

    Best Regards,
    Rajesh
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