Question about parinee essence?

Q: How good is this project. The builder has many ongoing project. does he have enough cash flow?
also has the commencement letter been given to the builder for the project.
how is quality of the construction?
For 2 bed- 533 - carpet area seems very small. how will the 2 bed come out?

the area is currently all slums . will it be cleared?

what is the appreciation value of the project upon completion and when does it plan to complete realistically?

Shobhit Swaroop,

30th September 2014

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Replies (4)

If you are looking for the location advantages of this project then i would say that the project has good connectivity such as Western express highway 3 kms., Link road 0.5 kms., S.V. road 2.0 kms., Kandivali Railway Station - 2.0 kms., Malad Railway Station - 2.5 kms., Marve Beach - 2.5 kms. School - 0.5 kms., College 0.5 kms., Hospital 0.5 kms etc.

Deepankar Godbole, Mumbai

1st October 2014

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Dear Shobhit,
You raised a question of cash flow. I want to tell you that builders are not illiterate, they raised 80% of the project fund from the market before start of the construction work. So, no sense whether they have cash flow or not.

Secondly, if you asked anything on phone regarding the project like, construction quality, CC, approvals, locality etc. they will only provide you the positive aspects of all these. It is you who can judge whether all the approvals are in place or not, how is the locality, whether they get the completion certificate of not.

So, my advice to you before investment, visit the site, ask for all the legal approval, verify it from the local municipal corporation, look at the connectivity of the project etc.

Deepankar Godbole, Mumbai

1st October 2014

Comment

Well Deepankar,
Parinee Realty presenting ultra--luxurious 1/2/3 BHK Apartments at Babrekar Nagar, Old Kandivali-Charkop Link Road, Near Hindustan Naka ( Charkop ). The Site is well connected to the New Link Road, which stretches right from Dahisar to Bandra. With Schools, Hospitals, Shopping spots are well managed around the Vicinity. Essence consists of Stilt + 25 Stories (Inclusive of 4 Levels of Stack Car Park) with 3 Wings and 4 Flats in each wing per floor.

It offers 1BHK in 694 sq-ft, 2BHK in 868 sq-ft. and 3BHK from 1161 sq-ft. The current price is Rs. 9600/sq-ft. It will cost around Rs. 66.69 lacs for 1BHK and Rs. 83.41 lacs for 2BHK and 1.11 Cr for 3BHK all exclusive.

Sankalp, Mumbai

1st October 2014

thanks sankalp. but my question i guess is not answered yet. Parinee essence - has the commencement letter arrived.
when is project expected to be over.
533 carpet area for 2 bed seems very smaill . how r they gona hv 2 bed in 5333 cqarpet area.

Shobhit Swaroop,

1st October 2014

Comment

As far as it possession is concerned i had a word with their sales manager and he told me that the possession date will be December'2016.

Sankalp, Mumbai

1st October 2014

As far as capital appreciation is concern Kandivali East real estate market is slow but steady. This area reported appreciation of 6% in 2013. The average prices in the area is Rs 14200/sq-ft. So, your investment horizon should be 3-5 years for a good capital appreciation.

Sankalp, Mumbai

1st October 2014

HI,
Mumbai's leading real estate builder Parinee Developers has been ruling the residential and commercial sector of the city since last 50 years. The real estate developer is growing at great speed and actively working to contribute in development of urban infrastructure and city scape of Mumbai.

some of their completed projects are Urvashi CHS - Santacruz (W), Kothare CHS - Vile Parle (W), Nandan Villa - JVPD, Kamlesh Mension - Vile Parle (W), Makhan Dham - Khar (W), Parijat - JVPD, Shreyas - Santacruz (W), Green Broke - JVPD, Tapan - JVPD, Green Broke - JVPD, Sudeep -JVPD, Anand Villas - Santacruz (W), Crescenzo - Bandra Kurla Complex.

Sankalp, Mumbai

1st October 2014

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