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Nandan Prospera?? Should I go for it?

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Nandan Prospera?? Should I go for it?

Last updated: August 25 2013
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  • #51

    #51

    Re : Nandan Prospera?? Should I go for it?

    Well said realacre.
    We think alike.

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    • #52

      #52

      Re : Nandan Prospera?? Should I go for it?

      Originally posted by chinmay686 View Post
      Real : I am not a RE Bull or BEAR- i prefer myself to be termed as a rational buyer!! I think there is a value buy price attached to any project, and that is my own calculations, not sure if it is right or wrong!! I won't pay even a single paisa more than tht...I have my own set of considerations while i evaluate a project for purchase and tht is strictly MY VIEW!! I don't think everyone evaluates it the same way only!!

      e.g : PS at 3500 psf is a complete NO-NO, but a deal around 2700-2800 psf - may be i will go for it!! I know there are folks who might stick to 2000 psf as a value buy in there citing enuf articles and explanations - but I really don't CARE!! I should be happy with my purchase of 2700 psf even if the prices go down to 2000 psf also, in case of DIWALI 2011 or next recession in 2012!!!Hope that clarifies..

      Regd the issue mentioned, i think i hv been completely misunderstood..When did i oppose the views man? Opposing means saying there is no rehab and all izz well, which i really did not proclaim!! Infact I have no idea if this Rehab thing is there in a DP plan or not!! Neither I will bother to check it, since Nandan is not my kind of project as per my budget/requirement..

      What really astonished me is how can a builder actually launch a high luxury project in the vicinity of such a proposed demography!! Hard to believe, they don't know about it...If they know, i think they can change the DP plan, shouldn't be a problem if they want to spare some money for PMC or the babus involved -

      but if they are duping the customers, i can only pity on folks who have bought it and have no clue about it!! I don't think this project is even worth looking at in the midst of a Slum Rehab Center...

      hi guys, thanks again for your time.... would like to share what i could gather....

      1) PMC water connection is available.
      2) the area marked on wikimapia as dehoused development project did exist. however, the builder claims that he has bought the land and shifted the rehab project elsewhere to another plot in the vicinity but not so close to the project.
      also, the builder is ready to give these details in writing along with the paper work.
      3) regarding infra, i guess just like everything else is expanding, it wouldnt take time for shops and other basic amenities to mushroom in the area. D - mart is already up n running.

      Chinmay, i really didnt get ur point abt rates of 2700 psf or 2000 psf.... where do they exist??

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      • #53

        #53

        Re : Nandan Prospera?? Should I go for it?

        You can ask the builder for the official papers of the dehoused project and to where he shifted it to. getting a letter is meaningless even if it is writing. you can then do a title search and check. It is possible that the dehoused project returns due to some or other govt. intervention so one has to be careful and then leave rest to ram bharose

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        • #54

          #54

          Re : Nandan Prospera?? Should I go for it?

          nandan Prospera is one of the project who got 5 star rating .
          http://www.crisil.com/star-ratings/r...une_index.html

          and the builder is very good , he will deliver what he commits.
          and the rate is proportional to its quality. has all those who posted replies ever really visited the site ?

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          • #55

            #55

            Re : Nandan Prospera?? Should I go for it?

            Originally posted by sachinchakote View Post
            nandan Prospera is one of the project who got 5 star rating .
            http://www.crisil.com/star-ratings/r...une_index.html

            and the builder is very good , he will deliver what he commits.
            and the rate is proportional to its quality. has all those who posted replies ever really visited the site ?
            This project supposed to be a 11 story building & now it seems to be more than story building...so, is this delivering on commitments??

            This is just start aag-aage dekho hota hai kya
            Cheers,
            -Ashish

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            • #56

              #56

              Re : Nandan Prospera?? Should I go for it?

              People are willing to invest 1Cr where they are unsure of dehoused project in the neighbouring plot, unsure of PMC water supply, and project is under construction.

              Hmmm what can I say now, People apparently want to put finger in the fire and confirm if it really hurts or people just say that!
              Last edited by RAJESHP; August 12 2010, 03:56 AM.

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              • #57

                #57

                Re : Nandan Prospera?? Should I go for it?

                Originally posted by sachinchakote View Post
                nandan Prospera is one of the project who got 5 star rating .
                http://www.crisil.com/star-ratings/r...une_index.html

                and the builder is very good , he will deliver what he commits.
                and the rate is proportional to its quality. has all those who posted replies ever really visited the site ?
                Sachin, do you have any idea what you are talking about? Sounds more like you just copy pasted something from their website or brochure.

                The absolute best possible construction, with super-premium fittings should command a premium of 1000 rupees a square foot over a ordinary construction at most.

                In Pune, builders sell apartments as if it was a packaged product, and people also buy houses as lifestyle products - as if you were buying a LCD TV. This is why most project ads show no practical information about the projects but instead show teddy bears and beautiful women and men doing some lifestyle activity, surrounded by fake jungles and fake rolling hills.

                Go outside Pune and you will see most people building their own houses, and hence, most people have a very good idea of how much construction and land costs. You cannot fool them, unless they are 25 year old IT workers who have more money than practical knowledge or some seth in Mumbai who wants to do "investment" and feels that compared to Mumbai's even more ridiculous rates, Pune seems cheap.

                This is the reason why such projects can command ridiculous prices and that too in the middle of nowhere.

                I'm not saying this project doesn't have good construction quality - but like Marvel and other "premium" builders, they spend an extra 800 rupees on their construction and charge an extra 2500 rupees per square foot.

                Man, i sometimes feel like laughing at the stupidity that surrounds us in the form of real estate marketing, especially in Pune and Mumbai - and even more at the fact that people are still standing in queue to buy tickets for this show.

                Comment

                • #58

                  #58

                  Re : Nandan Prospera?? Should I go for it?

                  Very true. I think the problem in Pune is now for the builders - they cheated and fooled the Punekars so much in last 3 years, so even if something good comes up -- people will definately raise their eyebrows...its like mining a diamond from a coal field ,and that is really rare- 99.9% of the times, you would get your hand and body burnt black...

                  Also, even if some builder promises everything in writing, and the legalities are all in order, the rent to sale ratio in these HYPED places is so high -- more than 1:40 (annual basis), that it makes absolutely no sense to buy.

                  In todays market, the RE prices have to appreciate atleast by 20% a year, to break even into your investments -- otherwise its best to rent....

                  So, all this commitment,quality,etc -- even if it comes at a price - it has to be quantitative,economical and legally clear of all misconducts...

                  Dont think I could find a single property in Pune on these terms after 2006.

                  And, if we are talking to builders or salesmen, please realize, on this forum - people are not foolish,unknowledable,hapless IT guys, --- we know the history & geopraphy well apart from the financials to make a good decision for ourselves and for others !

                  So, please talk to us, as if you are talking to Anil Ambani - you know what I mean !
                  Last edited by pcpune; August 12 2010, 01:44 PM.

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                  • #59

                    #59

                    Re : Nandan Prospera?? Should I go for it?

                    Originally posted by asliarun View Post
                    Go outside Pune and you will see most people building their own houses, and hence, most people have a very good idea of how much construction and land costs. You cannot fool them, unless they are 25 year old IT workers who have more money than practical knowledge or some seth in Mumbai who wants to do "investment" and feels that compared to Mumbai's even more ridiculous rates, Pune seems cheap.
                    +1 to this. I recently came to know from one of my neighbor that his relative built a bungalow at Baramati (hey, he is not of NCP ) for INR 830/sq ft. Here are the some specs:-

                    Complete marble flooring, marble purchased directly from Rajasthan,
                    Internal luster paint, external acrylic paint,
                    Hindware sanitary fittings,
                    Pure teakwood doors with brass fittings.

                    Now how much the builder here sells this for?? Think how much premium we pay for not so premium things. My relatives are surprised how I am considering buying a flat when they know that I can build on my own (man, how I wish I had some b-money to buy land) & that too at much,much cheaper rate than builder rates.

                    Few days ago, I was on terrace & saw a bird carrying twigs to build a nest. That time I felt so ashamed coz when even so small birds without any machines, hired labor can build on their own, it's hard for humans to do it & even if we pay to builder, we are unsure of the end product. That was the time when I felt that in some cases, even small birds are superior than humans.
                    If you are happy, you are successful.

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                    • #60

                      #60

                      Re : Nandan Prospera?? Should I go for it?

                      realacres: well thought

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