Dear all,

A flat in Balewadi - Gateway from Astrix builder project. i am offered about 2550 per sq ft by an investor in resale. also need to pay additional 4.1 Lac additional for parking, MSEB, society, legel and main etc. (Registration and stamp duty cost extra)

Flat will be ready in 1-2 months. it is 1750 sq ft flat.

Do you suggest to accept this offer OR should I wait for some more time or check other project for lower prize?

your suggestions will be a great help.
Read more
Reply
36 Replies
Sort by :Filter by :
  • Can you give more detailed info regarding the flat?
    Details such as:
    1. Carpet area - exclude terrace, staircase lobby, balcony, etc. Just get a softcopy (pdf file, image etc) of the plans and measure the area of all rooms and bathrooms. Then add this up.
    2. Total cost of the flat to you:
    This is everything including stamp duty and registration costs. If you want you can post a breakup, but the total cost should include every rupee going out of the pocket.
    3. The rent of a comparable flat in the same society / adjacent society? You can ask local brokers pretending that you want to rent. There is not much negotiations in rent.
    4. The per month maintenance amount.
    5. Purpose of purchase - for investment or for self occupancy?
    6. How sure are you that the title is clear?
    CommentQuote
  • Review: Gateways, Astrix Properties

    Here is my observation for Gateways, by Astrix Properties:-

      Project name:- The Gateways
      Developer:- Astrix Properties
      Promoter:- Unknown (got different answers from people),
      Location:- Balewadi, Opp Elite Empire
      Configuration:- 3 & 4 BR (there is just 1 2BR each in A & B wing),
      Flats/floor:- 3 each in A & B while C has 2 flats/floor,
      Area of flats:- 1700-1955 for 3BR & 2200+ for 4BR,
      Commencement Date:- 2004-05,
      Current Status:- Under construction, only B & C buildings are almost complete,
      Possession Date according to builder:- Dec 2009 for B & C,
      Site Office:- No,
      Contact person on site:- Mr.Gaikwad,
      Official Website:-http://www.astrixindia.com/residential1.html
      Office Location:- Astrix House, near Staples, Opp Hotel Mahabaleshwar, Baner Road, Baner.
      Contact Person:- Ms. Chanchal & Ms. Amita.
      Project Details:-

      Please look at the floor plans too. C wing floor plan is not with me but is simple:- Two 3BR in front of each other, mirror image. The layout couldn't be uploaded due to size restriction. Look for website for some rough idea. It is though like this:-

      A-C-B, all almost parallel to each other.

      Specs:- Vitirfied flooring 24*24 in living/dining, rest is all ceramic. CP fittings are normal. No jaguar, crabtree let alone Kohler. The quality of basins, WC etc. is average. Other things like mosquito mesh are included.

      Lift:- Yes, 2 auto/building,

      Piped Gas:- No,

      RFID Card Access:- No,

      Video Survelliance:- No,

      2 level car park:- No,

      Swimming pool:- Proposed,

      Gym:- Proposed

      In short, there are no amenities as of now.

      My experience:-

      When I reached the site, I was told that all the flats have been sold out! Later they came to know that I have spoken in their office & hence let me in to check the flats.


      Observations:-

        The flat looked good though poor on specs,
        Loading factor was 25-27%,
        The actual layout plan varies than that on paper,
        The quality is pathetic. The m.bed outer wall was wet due to rain water seepage & was seen in B-102,202 & penthouse quality was too poor, though the view was very good,
        Columns in penthouse are very low, just less than 7ft!! Really ridiculous.
        Common entrance lobby is only for C, while for A & B, entrance is directly through parking,
        A & B has 3 flats per floor, 2 of 3BR/3bath & one of 4BR/4 bath while C has 2 flats/floor, both being 3 BR but 4bath,
        All the buildings are connected to each other on first floor terrace which is biggest amongst rest of the floors,
        The plaster had fallen in the parking area leaving the electrical & wiring exposed between the building B & C,
        The 3 year maintenance is a gimmick. You lose 1.7L without any reason despite paying 85k as maintenance towards society,
        Even though it is 5 year old project, it is not yet completed!!
        Next stage:-

        When I visted Astrix house, Baner road, the people became serious & gave me lot many options!! Finally after 3 vists to the site & 2 to the office, decided to have meeting with Ms. Amita.

        Here is what went on:-

        Started the meeting as usual, acting a bit dumb! Asked some useless questions to loosen her up. Gradually, as I asked similar questions in different format, she got confused & gave different answers for the same question in reality!!
        Was told that there are many investors & they have authorised the builder to make the deal. Asking price was INR 2950/sq ft & total package for 3 BR of 1700-1750 sq ft went for about INR 61L while that for 1955 sq ft was about 70 L & over INR 74L for 4BR.
        Though the flats were sold out, agreements with the investors was not done indicating loads of B-money in the project,
        However, what struck me the most was this:-

        When she asked almost INR 1.8L as maintenance for 3 years, I was surprised especially when there are no amenities etc. as yet. I kept listening & politely said that what if I manage the society? Won't require close to 4k/month as maintenance. After hearing this, she said:- We would be happy coz you will have to bear the maintenance of 45% of flats as they won't be staying here. Noted this:- 45% in my mind & diverted the topic to water supply so that she doesn't become aware that she leaked a peice of damn useful info.:D Later, some stupid questions like when will the shops in front will be occupied, any chances for phase2 etc. and finally told that the price is way to high & left.

        However, found out that resale deeds were closed for 2525/sq ft directly through investors with some buyers. Total package for 3BR in C of 1955 sq ft went for under 56L all inc.

        Conclusion:-

        Based on the info above, I concluded that the builder is not reliable, nor is he ready to bring the so called investors in front of us. Large scale unoccupied flats possesses great risk. Asking price very high. I would rather buy at Gold Coast adding INR 4L than here. No previous track record of this builder is known. Water issues questions were not answered correctly. Got some info from other builders about this project which made me to drop this project out of the list.

        Hope this proved useful.
    Attachments:
    CommentQuote
  • Real you are great! What a detailed analysis .. too good!
    CommentQuote
  • Originally Posted by w_sanjay
    Real you are great! What a detailed analysis .. too good!


    I agree. Salut! Realacres. :)
    CommentQuote
  • Excellent info REAL....This is the way to go to every builder. I have observed that ALL the investors flat are NOT maintained...hence the seepage/leakage issues keep on persisting. When you buy from investor, make sure that you confirm on above aspects as mentioned by REAL.BTW, water situation is very BAD here.Other than seepage water from the rains, we would not find any source of water other than the tankers managed by scorpios. :D
    Great work REAL...we appreciate this !

    The project name should be "GET_OUT"..:D

    Thx - Harish
    CommentQuote
  • Excellent peice of work. This is the kind of information that helps prospective buyers. Hoping to see more 'parda faash' of other projects too.
    CommentQuote
  • Is this project really bogus....
    I dont think so, 3 BHK resale are quoting 85 Lacs now..
    We have just made quite a huge loss being in the bear club....
    I know it is harsh reality but it is true...
    Just accept it...
    I have been waiting and waiting since so many years and i have seen flats go from 60 to 70 to 80 and I am already priced out...
    What do you have to say realacres ??????
    CommentQuote
  • Is this project really bogus....
    I dont think so, 3 BHK resale are quoting 85 Lacs now..
    We have just made quite a huge loss being in the bear club....
    I know it is harsh reality but it is true...
    Just accept it...
    I have been waiting and waiting since so many years and i have seen flats go from 60 to 70 to 80 and I am already priced out...
    What do you have to say realacres ??????
    CommentQuote
  • Any idea of the current resale prices in this scheme?
    CommentQuote
  • Any feedback about the current situation on the society.. Read this thread and a few others on the forum.. most of the feedback points to the investor flats etc.. I don't have much idea what it would translate into for a 2-3 year old society.

    Should i consider the flat or avoid this as plague.. the deal is for a 1750 sqft flat (saleable), carpet is approx 1250 sqft and the price quoted is 85L + 2% brokrage + stamp + registration + ?? (are there any other costs involved in resale flat)
    CommentQuote
  • Originally Posted by mittalv2002
    Any feedback about the current situation on the society.. Read this thread and a few others on the forum.. most of the feedback points to the investor flats etc.. I don't have much idea what it would translate into for a 2-3 year old society.

    Should i consider the flat or avoid this as plague.. the deal is for a 1750 sqft flat (saleable), carpet is approx 1250 sqft and the price quoted is 85L + 2% brokrage + stamp + registration + ?? (are there any other costs involved in resale flat)

    Seems you are looking in B building as they have 1750 sq ft flats, facing Pride Xpress & Supreme Palms. If you see my old posts, the quality is pathetic & most are investor flats only. I was getting same flat for 50L+ odd something + taxes, but rejected due to numerous issues mentioned above.

    It is better to look at Vascon Willows rather, just check the loading area here though.
    CommentQuote
  • Originally Posted by realacres
    Seems you are looking in B building as they have 1750 sq ft flats, facing Pride Xpress & Supreme Palms. If you see my old posts, the quality is pathetic & most are investor flats only. I was getting same flat for 50L+ odd something + taxes, but rejected due to numerous issues mentioned above.

    It is better to look at Vascon Willows rather, just check the loading area here though.


    Thanks for the feedback.. Any pointers to apartments in Willows ? I have not come across any resale.. And the new one AFAIK are minimum 1Cr+..

    I am looking for something in the range of 80L.. +/- 5% .. what are the societies that I should be looking at ? 2.5 or 3 BHK.. immediately livable with family..
    CommentQuote
  • Originally Posted by mittalv2002
    Thanks for the feedback.. Any pointers to apartments in Willows ? I have not come across any resale.. And the new one AFAIK are minimum 1Cr+..

    I am looking for something in the range of 80L.. +/- 5% .. what are the societies that I should be looking at ? 2.5 or 3 BHK.. immediately livable with family..

    Go to willows, show them your interest. I am sure their higher ups will talk with you directly at their office. I would like to inform that sales are dud & Vascon too have laid off its staff especially those working outside Pune.

    You can get a 3BR for far less than 80L at Supreme Palms, but I don't think the price is right & area too isn't as big as Willows or Gateways. Other option is Pallacio but location is bad. I would still bet on nego with Vascon for Willows.
    CommentQuote
  • Originally Posted by realacres
    Go to willows, show them your interest. I am sure their higher ups will talk with you directly at their office. I would like to inform that sales are dud & Vascon too have laid off its staff especially those working outside Pune.

    You can get a 3BR for far less than 80L at Supreme Palms, but I don't think the price is right & area too isn't as big as Willows or Gateways. Other option is Pallacio but location is bad. I would still bet on nego with Vascon for Willows.

    hmmm... that is giving me some confidence to go to Willows.. I have kept myself away from that so far for the fear of not liking other smaller flats after viewing large ones..

    BTW, i saw a flat in Supreme Palms.. and the owner is quoting 90L + stamp + RC + brokrage....i.e. almost 1Cr.. That is way too much for a flat ad-measuring 1450 sqft (salable) .. I thought 75 (complete pkg) is the right price for that flat/society.....anyway....

    Gateway is still an open option with me.. what should be a good price for that apartment, if I ultimately go for that, knowing all the shortcoming that have been told so far ....
    CommentQuote
  • Originally Posted by mittalv2002
    hmmm... that is giving me some confidence to go to Willows.. I have kept myself away from that so far for the fear of not liking other smaller flats after viewing large ones..

    And if you look at ph2, those are smaller than ph1 but surely not small either.

    BTW, i saw a flat in Supreme Palms.. and the owner is quoting 90L + stamp + RC + brokrage....i.e. almost 1Cr.. That is way too much for a flat ad-measuring 1450 sqft (salable) .. I thought 75 (complete pkg) is the right price for that flat/society.....anyway....

    Forget this project at this price man. Now Swift is also a good car, but that doesn't mean you pay 15L for that !!

    Gateway is still an open option with me.. what should be a good price for that apartment, if I ultimately go for that, knowing all the shortcoming that have been told so far ....

    Value is different for different people. With my experience with this project, I won't buy here irrespective of cost. There are some projects, which are completely out of my radar, this is one of them.
    CommentQuote