Hi,
Disclaimer:If this post does not sit with the forum guideline, please let me know :bab (5)::bab (63):
I am looking for advice on buying a commercial property. This is based on the new scheme launched by Gera Builders. The details of the scheme is available under the link http://www.gera.in/geras-imperium-hinjawadi. I understand the risk with under construction properties, however there is a buzz regarding this property and i hope (fingers crossed :)) that they are able to fulfil their commitment. There are properties of diffrent sizes and can choose from 35 lakhs to 5 Cr. Can any of the members comment on whether this a good buy in terms of appreciation, rent etc. or should we just give it a skip ?:bab (59):
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  • Any senior moderators/members out there, please can you add your opinions on this thread.
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  • Careful with the Gera's. Check out the Affinia forum and the diligent reporter from Pune Mirror who has done a great job explaining how the father-son duo have hoodwinked gullible buyers of the Affinia project by constructing a building over a parcel of land over which they had no development rights. The honorable Bombay High Court has rightly called out these fraudsters this March. Reminds one of the old hindi movie "BAAP numbri, beta dus numbri". Stay away pls.
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  • Thank you @nbaner with the information. However, i have gone ahead and invested with them anyways gauging the location and the builder priorities. Currently i don't have any major complaints on the way things have been handled and everything seems in order. However i can be wrong. Only the future can tell for sure..

    For the senior contributors, what are your general views on commercial properties, risks, advantages and precaution. Also any comments on this site specifically ?
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    1 Comments
    • rayadl2 years ago
      Dear Jadhav, I also booked the office in imperium rise and paid booking amount Rs 9 lacs. They have put many clauses in the favour of builder. mainly , price escalations for raw material and labour beyond 15 %, AC power connection only 75 watts/sq meter,, Logically required power more than this. and agreed 100 % DG back up now telling only 10% etc.... How about your agreement? are there any issues with you ? your reply is highly appreciable
  • Originally Posted by KJADHAV
    Thank you @nbaner with the information. However, i have gone ahead and invested with them anyways gauging the location and the builder priorities. Currently i don't have any major complaints on the way things have been handled and everything seems in order. However i can be wrong. Only the future can tell for sure..

    For the senior contributors, what are your general views on commercial properties, risks, advantages and precaution. Also any comments on this site specifically ?


    Can you Provide some inputs on Rate And prospects as well? When did you book and what rate ? Any Inputs on prevailing rates?
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  • there wont be any legal issues with respect to the land, as this land belongs to MIDC through TCG on long lease of 99 years.
    but as far as construction, completion and future prospects, no one can say anything today.
    best of luck.
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  • Originally Posted by manitian


    Can you Provide some inputs on Rate And prospects as well? When did you book and what rate ? Any Inputs on prevailing rates?


    The rates when booking we around 5000 per square feet . However I don't think that matters for me it the total cost and it around 42 lakhs for 300 sq. Ft carpet (chargeable 422sq. ft) office. Booked at the start of the year. It's right bang opposite phase 2 Wipro circle hinjewadi so seems like a good place. Not sure they have any at this size ( or so they tell me :D). They have something bigger though which might work out cheap considering the area. Also they have a few screens which will save save some more money.
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    3 Comments
    • KJADHAV1 years ago
      I guess as i mentioned its not the rate that the quote the entire package now that counts. Those rates are mentioned above. I think there was a typo there not 5000 however the rate was 7000.
  • Hi Preet, This was at the start of the year. I am not sure they have the same prevaling rate structure now. However, you can visit their himjewadi office and bargain hard.
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    2 Comments
    • KJADHAV1 years ago
      The rate quote was a typo, the loading seems to be high agreed. Not many builder give you a choice. They have started quoting packages now after RERA implementation, so this calculation goes out of the window. They were offering a scheme of no Interest for a year i.e. they will pay you back the interest for the loan that you have taken out to buy the space. I have not taken a loan as i am not entitled as an NRI.