i want to buy a property in mumbai parel area in project ruparel arina. can i trust the builder ?

Q: ruparel arina (parel)mumbai. Developer-Ruparel Group.Status-under contrustion

Swapnil Parmar,

22nd May 2016

Builder Review in Ruparel Ariana, Parel, Mumbai

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Replies (4)

Hi Swapnil,
If you are an end user and you don't want to lose your principal in trying to save interest then do not go for this projects during the construction stage. And if you are an investor, i am sure you know the risks so take your bet accordingly.
Currently they are offering 10-20% discounts to roll in the inexperienced buyers to the markets rates and then then screw his happiness. May be they are planning to change the floor plans, make additional demands which obviously has to be 100% funded by you because your house is already mortgaged, and delay project endlessly.

Roshni Pawal, Mumbai

23rd May 2016

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You are absolutely right Rosini. May be Ruparel will end up taking money equivalent to Crescent Bay by the time the project is complete. You know very well, what is happening in the HDIL, Kurla project. Now-a-days builders are mastered of this trick.

As far as locality point-of-view, almost 20% price rise has seen in last 1 year in the locality. So, investment point of view, it is a undoubtedly a good project.

Dharmaja Patel, Mumbai

23rd May 2016

Hello Shalini!!!
Currently, Ruparel Arena is under construction and it is expected that possession date will be 2018 end. All the major approvals such as FSI approved, CIDCO, KDMC, BMC, Karjat Taluka approved, Tahsildar of Karjat approved, VVMC and KBMC approvals are in place.

Al the financial institutions like HDFC, Axis, IDBI, HDFC etc. are funding this project. So, no doubt that project will not complete on time.

Anirudh Patel, Mumbai

23rd May 2016

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Yes, Ruparel Arena, Ruparel Realty located at Parel, Mumbai offers 2/3BHK luxury residential flats. It's sizes are available from 1250-1420 sq-ft. in 2BHk and 1900 sq-ft. in 3BHK. and its current price is Rs.18000/sq-ft. This project is strategically located opposite L&T Crescent Bay, Near Bhoiwada Junction, Parel East. It is a G73 storeys apartment spread over 2-acres of land consists 320 units.

Anirudh Patel, Mumbai

23rd May 2016

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Hi Anirudh,
I have booked a 2BHk flats in Ruparel Arena, Parel. I want to know the current status of this project and when are they giving possession of our flats? Are all approvals are in place? What about the bank approval? Thanks

Shalini Parikh, Mumbai

23rd May 2016

Hi Swapnil,
Established in 1999, Ruparel Group is a well known and highly reputed real estate major having its headquarters in Mumbai. Company's portfolio covers both residential and commercial sectors. Company has 16 yrs of total experience in the field of Real Estate. Till now company has successfully delivered 4 projects in Mumbai, 9 are their ongoing project and 3 are in a queue.

Jerome Fernandez, Mumbai

23rd May 2016

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