Should I buy a 1BHK in Kalyan west for 4,200 psf with Raunak City?

Q: I am thinking of buying a 1BHK (580 sq ft BU) at Raunak City in Kalyan (W). They are quoting 4200 psf. This is for investment purpose for long term (10 yrs +) Is the price justified in that area? Also what about the builder. Please reply if you have any information. My budget is 30L (all incl) and I want only new buildings and township.they are giving posession in June 2013

achoudhari, Apartment Resident

25th January 2013

Investment Advice in Mumbai

kalyan

raunak city

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Replies (5)

what they are offering now if i have to buy 1 bhk flat in phase 3?

Nilesh Patil,

31st March 2015

Comment

4700 psf as base price.

achoudhari, Apartment Resident

31st March 2015

OK..INCLUDING ALL CHARGES HOW MUCH IT WILL BE ??

Nilesh Patil,

16th April 2015

Any idea Mr choudhari what was the price in Sep 2013? When did u booked ur flat n what was the rate at that time

Raj, Apartment Resident, Mumbai

7th June 2015

Hi all,
I think you should check all the legal approvals before investing or buying any project as i heard a lot of bad reviews about this project. Verify all the legal documents by a legal expert. They will charge a nominal amount for that but the rest of the future will be hassle free.

Rakshit, Mumbai

24th June 2015

Hello all,
Well in Raunak City they are 95% completed work on the towers (stilt+15 floors) which are called "B" (1-11). B-1's painting is also completed, interiors need to be done. The landscaped garden and clubhouse are non existent as of Jan 26. They say posession is in June 2013 and by then everything will be ready. They claim project is completely sold off, and did not entertain any inquiries even when lured with 'premium' payments.
Now I have booked in a special 1BHK cluster of 12 buildings (stilt+7floors) called "C" cluster. Plinth level work is complete and target delivery is June 2015.

achoudhari, Apartment Resident

29th January 2013

Comment

Mr. Choudhari, could you please tell me if they are providing the parking lot? I have a 4 wheeler. Do we have to pay for the parking lot or is it included? And which bank is giving home loan?

Jerome Fernandez, Mumbai

29th January 2013

Comment

Mr. Fernandez, they are not "selling" parking. They say it is upto the housing society to decide about it. Trick is, they are providing just 18 stilt parking slots for 47 flats. But then there is a lot of open space exclusive to our buildings which can be demarcated as open parking. They say since govt has banned selling parking they are not doing it. Well, I still appreciate that they are not charging 1-2 lakh extra for that at least. HDFC is finance partner so you can try that out. My experience says that any project which gets cleared by HDFC, can never go wrong. They are the most strict bank in the country when it comes to verification.

achoudhari, Apartment Resident

29th January 2013

Okk.. That's good. So, what are the other facilities and amenities they are providing? Have they started with the construction?

Abhijit Thanki, Mumbai

29th January 2013

Comment

Mr. Thanki for your query ---- The 1BHK "C" cluster does not have to pay club house fee (which is mandatory for "B" tower residents). We can use the club and all of its facilities on a pay-per-use basis, but no idea what that charge would be. In house amenities include a geyser and some basic electrical fittings. They have solar water heater to provide residents heated water. Also they have a sewage treatment plant installed (sales claimed it cost them almost 3 crores). The 1BHK cluster gets a back up lift as well and its own 40K feet landscaped garden. Flats are 577, 580 and 607 sq ft. extra space is a big terrace and extra space in kitchen.

achoudhari, Apartment Resident

29th January 2013

Hi Mr. Choudhari, The ongoing rates of Raunak City is around Rs 4000/ sqft. I think you can go for projects in Kalyan as there is a scope of price appreciation for demand in apartment projects. For long term investment, it is a good option. Also, you can check Ongoing Apartments in Kalyan West for more apartments in your budget .

Abhijit Thanki, Mumbai

27th January 2013

Comment

Thanks for the advice, but I saw it a day late. Anyway I booked a 1BHK there at 4151 psf. I liked the project because it offers quality and also it better of all the other townships in Kalyan (more space in the township is what I was looking at). Poession is 2015.

achoudhari, Apartment Resident

27th January 2013