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Feedback on Nyati Empire

Last updated: July 28 2010
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  • Feedback on Nyati Empire

    I am looking at buying a fully furnished 3 BHK, area 1350 sft (comes with terrace of area 1350) in Nyati Empire on Kharadi Bypass road. owner is quoting 52 lacs excluding stamp duty and registration.

    Have visitied the place and liked the comples layout and amenities provided. have heard of water problems in Kharadi but the complex seems to be not having any issues right now.
    Would like to know if this is a fair deal since I am new to pune.

    Would be useful to get feedback from people living in and around that area and other members of the forum.
  • #2

    #2

    Re : Feedback on Nyati Empire

    Have you inquired, who owns the land in front of it and what is going to come up there ? Also this place is just the start of Kharadi, so the kharadi chowk, where some shops (reliance,more) are located is around 1km away. U will have to walk upto there or chandan nagar for daily needs.
    Have they formed a society ?


    Originally posted by johndorian View Post
    I am looking at buying a fully furnished 3 BHK, area 1350 sft (comes with terrace of area 1350) in Nyati Empire on Kharadi Bypass road. owner is quoting 52 lacs excluding stamp duty and registration.

    Have visitied the place and liked the comples layout and amenities provided. have heard of water problems in Kharadi but the complex seems to be not having any issues right now.
    Would like to know if this is a fair deal since I am new to pune.

    Would be useful to get feedback from people living in and around that area and other members of the forum.

    Comment

    • #3

      #3

      Re : Feedback on Nyati Empire

      Originally posted by aditi sharma View Post
      Have you inquired, who owns the land in front of it and what is going to come up there ? Also this place is just the start of Kharadi, so the kharadi chowk, where some shops (reliance,more) are located is around 1km away. U will have to walk upto there or chandan nagar for daily needs.
      Have they formed a society ?
      I have been told that the land in front belongs to Nyati though the person who gave me this information was not 100% sure. The society ha been formed and is fucntioning. Daily grocery needs have to be obtained from a distance but considering I only do it once or twice a week it is not such a pain point for me right now. GIven this is the cost justified?

      Comment

      • #4

        #4

        Re : Feedback on Nyati Empire

        For me, the problem is too huge terrace. Even if you consider 50% charge for terrace, you are paying 2600 psft for 650 sqft = 17L for this area.
        Now its upto u, if you wanna buy that terrace for 17L ?
        Have you consider, how difficult will it be to resale that flat in future ?


        Originally posted by johndorian View Post
        I have been told that the land in front belongs to Nyati though the person who gave me this information was not 100% sure. The society ha been formed and is fucntioning. Daily grocery needs have to be obtained from a distance but considering I only do it once or twice a week it is not such a pain point for me right now. GIven this is the cost justified?

        Comment

        • #5

          #5

          Re : Feedback on Nyati Empire

          Cost justified - That you have to decide....(I think thr is good scope of nego. 45lacs looks good).

          Nyati Empire - This is one of the best society in Kharadi, yes that land in front of it belongs to Nyati. I liked the layout of each flats. I liked the open space in scheme. 20% flats have been leased to Zensar and other IT comps. Also IMO location is very good...and I wud say better then proj near to EON IT Park.
          Last edited June 9 2010, 02:52 PM.

          Comment

          • #6

            #6

            Re : Feedback on Nyati Empire

            Originally posted by aditi sharma View Post
            For me, the problem is too huge terrace. Even if you consider 50% charge for terrace, you are paying 2600 psft for 650 sqft = 17L for this area.
            Now its upto u, if you wanna buy that terrace for 17L ?
            Have you consider, how difficult will it be to resale that flat in future ?
            Thanks!. The terrace has been considered at 1/4th and not 1/2. so the calculation will be for rate * 1/4th of the terrace area. Also the cost includes furnishings as well. if I exclude the furnishings the cost comes to around 3000 psft for the saleable area. i have been told that this is the going rate in Kharadi.

            Would be interested in knowing why you think the flat will be difficult to resell. is it because of location, or it being on top floor or is it the terrace.?

            Comment

            • #7

              #7

              Re : Feedback on Nyati Empire

              Originally posted by jigarshah View Post
              Cost justified - That you have to decide....(I think thr is good scope of nego. 45lacs looks good).

              Nyati Empire - This is one of the best society in Kharadi, yes that land in front of it belongs to Nyati. I liked the layout of each flats. I liked the open space in scheme. 20% flats have been leased to Zensar and other IT comps. Also IMO location is very good...and I wud say better then proj near to EON IT Park.

              Agree!. the layout is quiet good.

              Comment

              • #8

                #8

                Re : Feedback on Nyati Empire

                not location, but huge terrace size. Usually huge terrace flats are difficult to resale as the cost becomes high.
                The going rate of 3000 has scope of lots of negotiation in Kharadi. So if you like the flat and layout, try to negotiate hard. A year back new projects were ready to negotiate to 2000-2200 level. For old projects, you must negotiate, also banks do not lend 80% loan to old projects.

                Originally posted by johndorian View Post
                Would be interested in knowing why you think the flat will be difficult to resell. is it because of location, or it being on top floor or is it the terrace.?

                Comment

                • #9

                  #9

                  Re : Feedback on Nyati Empire

                  Originally posted by johndorian View Post
                  Thanks!. The terrace has been considered at 1/4th and not 1/2. so the calculation will be for rate * 1/4th of the terrace area. Also the cost includes furnishings as well. if I exclude the furnishings the cost comes to around 3000 psft for the saleable area. i have been told that this is the going rate in Kharadi.

                  Would be interested in knowing why you think the flat will be difficult to resell. is it because of location, or it being on top floor or is it the terrace.?
                  Since it is a resale property that too in top floor in Kharadi so rate should be between 2200-2500psf (40 to 43 Lacs). Just bargain hard for rate.
                  Since it is a furnished flat so owner may ask more. There are a lot of resale property present in that area since people who have taken property for investment purpose are trying to sellout. Owner might have taken that property in very less rate(may be like 1200-1500psf)

                  Comment

                  • #10

                    #10

                    Re : Feedback on Nyati Empire

                    Originally posted by johndorian View Post
                    Thanks!. The terrace has been considered at 1/4th and not 1/2. so the calculation will be for rate * 1/4th of the terrace area. Also the cost includes furnishings as well. if I exclude the furnishings the cost comes to around 3000 psft for the saleable area. i have been told that this is the going rate in Kharadi.

                    Would be interested in knowing why you think the flat will be difficult to resell. is it because of location, or it being on top floor or is it the terrace.?
                    I'm assuming that you mean the top terrace (above your top floor)

                    Please clarify one important thing with a good lawyer: Are you legally entitled to the terrace? To my knowledge, terrace is considered common property and not part of the apartment. The builder may be selling it like this, but only because they will wash off their hands after they have sold it to you.

                    Terrace ownership is (and has been) a very contentious issue, especially in societies. There has also been a lot of litigation around this issue. Just because the builder is selling the terrace along with the apartment, please don't assume that this is strictly legal.

                    For example, what if down the line, the lower floor residents want to put satellite dishes, etc. on "your" terrace, or want access to your terrace for other reasons??

                    Of course, I am no legal authority, so I am not saying anything definitely, just voicing my concerns. Just that you should be clear on what you are getting. Builders will sell you anything, they are just crooks. Is the terrace mentioned explicitly in the agreement?

                    Comment

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