When does the work begins????????

Q: Had booked almost 4 years back.... No communications with the builders. Now they seek a increase in premium for per square feet....... Not my problem if they took the advance and put an fullstop to the construction......

satish,

6th April 2014

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Replies (8)

@Kishore,
But if you are planning to buy property within the Municipal limits of Mumbai, is exactly the localities which I mentioned i.e. Sewri, Wadala, Goregaon (East) and certain areas of Chembur. I would also say Bhandup, Kanjur Marg, when you compare LBS Marg vs Western Express Highway, there is a big delta in terms of valuation. That area looks very attractive.

Chintakpujara, Mumbai

14th April 2015

Comment

Hey,
Now-a-days, real estate market of Nalasopara is in huge demand? Why is the residential demand in the locality is high?

Sandeep Mhatre, Mumbai

22nd April 2015

@sandeep,
Yes, you can buy your dream property at Nala Sopara, it is one of the gradually but growing suburbs in Mumbai which is making an entry onto the Mumbai real estate market as an economical housing destination. Located in the northern region of Mumbai Metropolitan Region MMR, the suburb is governed by the Vasai-Virar Municipal Corporation. The area is making an entry into the Mumbai real estate due to its good connectivity, growing infrastructure and its affordable prices.

Anirudh Patel, Mumbai

22nd April 2015

Hey, Anirudh,
What is the current residential property rate in Nalasopara? Are there any good residential project which i should go for?

pradyumanapte, Mumbai

27th April 2015

Gr8 to hear that you are planning to buy a property in Nalasopara, Mumbai. Locality is under developing phase and it can be a good residential destination in future. Now the property price is quite economical. So, buy a flat or a piece of plot and hold it for 3-5 year. It will definitely give you a good return.

Kunal,

27th April 2015

Hi,
If you are planning to buy property in Mumbai, here are some good project with reputed developer of Mumbai. These are Lodha Palava City in Dombivli East, Lokhandwala Octacrest in Kandivali East, Lodha Lakeshore Greens in Dombivli East, Adani Western Heights in Andheri West, Hiranandani Gardens in Powai, Hubtown Rising City in Chembur, L&T Emerald Isle in Powai, Codename The Centre in Dombivli East, JP Decks in Goregaon East, Bhoomi Acropolis in Virar West etc.

Shrikant Kejriwal, Mumbai

14th April 2015

Comment

Hi Shrikant,
Which localities in Mumbai do you think has the highest growth potential now in terms of rate appreciation?

Kishore Pathak, Mumbai

14th April 2015

@Kishore Pathak,
It is the Goregaon (East), the locality between Kalamboli and Panvel and if you go area by area, they have seen plenty of advantage between Vasai-Virar belt and now it seems to be between Kalyan and Dombivli on the central corridor beyond Thane city and the city like Bhiwandi where there is lot of grip and appreciation. If you go further east, it is the Kalamboli and Panvel.

Shrikant Kejriwal, Mumbai

14th April 2015

However, as a real estate buyer, one needs to know when you are bound to pay these charges and when you should not:-

Under two circumstances the developer has the right to charge escalation cost from the buyer. Firstly, if the developer improves the specifications of the unit or adds better amenities during the course of construction he can charge the additional cost with proper notice to the buyer. And secondly, if during the course of construction, the cost of construction increases by more than 10-15%, the developers can charge an additional cost provided this clause is mentioned in the agreement.

Thus, it is imperative for the buyer to read the document carefully before buying.

Sankalp, Mumbai

31st December 2014

Comment

I am a co-owner of a flat in this project as well, and did receive similar calls from them. Lets organize ourselves on whatsapp or Facebook to face the builder as a group. I agree, these demands are unsubstantiated and have no base or standing.

Mikunj Joshi, Apartment Resident

7th December 2014

Comment

If the project is in a good location and the developer has a good reputation and is facing issues that will be resolved in the foreseeable future, it is advisable to stay invested as long as one has the financial holding power.

Sankalp, Mumbai

31st December 2014

I got a call from them today seeking a large premium due to delays. I refused to make the payment or entertain any meetings for negotiations on this. As you said Satish, the delay is not our problem and we should not be making any premium payments.

Mikunj Joshi, Apartment Resident

11th April 2014

Comment

Right Mikunj,
Builder cannot demand excess money unless there is any force major event occurs which is beyond his control capacity and the cost of damage huge. Practically difficult to cite this clause.

You will win the case if you complain to the consumer forum and will have the right to elect for the possession with no additional payout other the agreed agreement amount or refund with the interest and further damages can be claimed.

Hamsika Iyer, Pune

18th March 2015

How is the project locality? Which are the well known developers of this locality? Under which Municipal Corporation does this project exist?

Shantanu Kumar, Mumbai

9th April 2014

Comment

@Shantanu,
Mira Road is governed by the Mira-Bhayandar Municipal Corporation and the project locality comes under it. It is a fast developing area in North Mumbai. The locality offers easy connectivity to Thane, Navi Mumbai and Mumbai.
Some well known builders and developers of this area are Kalpataru, Pratik, RNA and Chaitanya among others.

Padma G, Mumbai

9th April 2014

Hi all,
What are the basic amenities provide by the developer in the project? It is a G+15 apartment. Do you think that 2 lifts are enough for the resident?

Sankalp, Mumbai

9th April 2014

Comment

Well Sankalp,
There are few basic amenities provided by the developer are CCTV Camera, pipe gas connection, Cable TV, Intercom, Video Phone Camera at main door, Parking, well designed garden, fire fighting system, swimming pool & wealth club.
Generally, lift required if the floor is more than four. As it is a G+15 storey building then 2 lift are sufficient for it.

Padma G, Mumbai

9th April 2014

Thanks Padma,3
It is mention on their site that project offers 1/2/3 BHK but the area ranges is not mentioned. Will you please provide me the area ranges? What is the construction status of the project and which all bankers are funding it?

Sankalp, Mumbai

9th April 2014

Okey,
It offers 1 BHK in 660 sqft, 2 BHK in 1050 and 3 BHK in 1300 sqft, @ Rs. 7250/sqft. This project is under construction phase and wiil complete near about December'2016.
ICICI, DHFL and HDFC are the funding bankers. They can also arrange the loan with your existing banks.

Padma G, Mumbai

9th April 2014

Hi Satish,
At what price did you buy your unit? Currently the price developer is quoting is Rs.7250/sqft and the construction work is going on. Do one thing firstly check your registration paper. Whether it is mention that developer can increased in premium in the middle of the project or can consult a good lawyer.

Padma G, Mumbai

9th April 2014

Comment

Hi,
You can join the Commonfloor Group, of Pratik Krishna Prestige Mira Road by clicking on this link http://www.commonfloor.com/krishna-prestige-mumbai/povp-w4ucxb ) and http://groups.commonfloor.com/ to get in touch with other owners who have already booked a flat in this project and discuss about the same.

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Mahi garg, Bangalore

31st December 2014