Hi. i am planning to invest in Runwal's My City Project in Dombivili. But i hv heard about many misconducts done.

Q: Hi. i am planning to invest in Runwal's My City Project in Dombivili. But i hv heard about many misconducts done by Runwal in one of thier property that is Runwal greens Mulund. PLease advice the authencity of the My City project in dombivili and also if i can invest or not.

Bhuvanesh Kini, Thane

7th July 2015

Builder Review in Runwal Mycity Phase II, Dombivli East, Mumbai

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Replies (2)

Good Morning Bhubanesh,
Runwal MyCity is very good project and less costly as compared to neighboring projects. It being township project has its own benefits. What more, it is on central line as per connectivity concerned and easily accessible from Mahape side, a major upcoming commercial hub. Builder is also reliable, only negative may be slow construction over 4-5 years maximum. (now-a-days delay in possession has become fashion to most builders). I think 2BHK in 45-50 lakh basic price bracket in a locality like Dombivali East is not a bad investment. What more we should expect for? Appreciation may be 15-20% minimum in long term.

Miraniyatin, Mumbai

8th July 2015

Comment

I think Miran is right,
If you talk about the residential property rate of the locality, Rs. 6000/sq-ft is the current rate but values are excluding taxes, maintenance, car park charges, floor rise and other charges that may be applicable.

I had a word with the developer and found that the possession of phase - I is in December' 2018 & for Ph-2, Dec 2019 depending on the location of towers.

Anirudh Patel, Mumbai

8th July 2015

Right Anirudh,
Property prices have been continuously on the rise in this area slowly but steadily. The average property price was about Rs 6000/sq-ft. during the Ist qtr of 2014, which is about Rs 6,250/sq. ft. during the same period during 2015. This marks an appreciation of 4.3%.

khushisha, Mumbai

8th July 2015

Please advice reagrding the authencity of Runwal My City project in Dombivili. I am planning to invest in the same.

Bhuvanesh Kini, Thane

7th July 2015

Comment

Hi Bhuvanesh,
Yes, Runwal projects are getting delays associated with it at times so does with all builders to be honest. Effect of rise in Service tax to 14%: in Real estate, it has been increased to 3.5% from previous value of 3.09%. So, the company is sending demand letters based on the new rates, for anything due on or post 1 June 2015. Which should not be happened.

Anirudh Patel, Mumbai

8th July 2015

You can invest in the project but before that you have to do a lot of homework. The developer is a brand name in Mumbai's Real Estate Market. It is true that it's some of the project is getting delayed. So, my advice to you that you should verify all the legal approval, bank approval, connectivity of the project, basic amenities from the project site, transport facilities of the locality and then go. Good luck.....

Anuskha Chandan, Mumbai

28th July 2015