Corrosion due to brackish water and sea breeze means that the life of these construction will be less than 30 years..renting property is a wiser option in these scenario till prices cool off by at least 75 percent from current levelsCorrosion due to brackish water and sea breeze means that the life of these construction will be less than 30 years..renting property is a wiser option in these scenario till prices cool off by at least 75 percent from current levels
My comments to replies
Yes, I'll help you out with some details. The Purva Grandbay is on the beautiful Marine Drive in Kochi and the project overlooks the backwaters. Marine Drive is a very popular area in Kochi with many upmarket shopping malls, and restaurants, and is a popular tourist destination as well. The Purva Grandbay has 3BHK apartments at Rs. 6200 per sq.ft which will come up to Rs. 1.16 crore for a 1880 sq.ft apartment, and Rs. 1.19 crore for a 1937 sq.ft. apartment. There are a total of 6 floors and 265 apartments in this projects
This is purely priced by greed..this property is largely unoccupied and will remain a ghost tower at these prices for years to come..
Dear Gurmeet
I was considering buying an apartment in this project, and I spent considerable time waiting for the builder to provide me the required documents for legal verification. While he did provide most of the requested documents, upon closer scrutiny, there were several EC documents that were not reflecting the correct khata number. The BBMP plan approval also didnot not show the swimming pool that is being promised. There was also mention of IRWO notification against the land in which the building is coming up. The builder also did not appear keen to share the genealogy of the landowners family. The FAR has been taken for the full plot size and construction has been made basis this, however the UDS is being calculated only on a lower size of the plot, factoring for a 40 ft road relinquishment. Given these concerns I withdrew from the deal. But giving due credit to the builder they were very prompt in returning the cheque in lieu of the initial payment that I had tender.Dear Gurmeet
I was considering buying an apartment in this project, and I spent considerable time waiting for the builder to provide me the required documents for legal verification. While he did provide most of the requested documents, upon closer scrutiny, there were several EC documents that were not reflecting the correct khata number. The BBMP plan approval also didnot not show the swimming pool that is being promised. There was also mention of IRWO notification against the land in which the building is coming up. The builder also did not appear keen to share the genealogy of the landowners family. The FAR has been taken for the full plot size and construction has been made basis this, however the UDS is being calculated only on a lower size of the plot, factoring for a 40 ft road relinquishment. Given these concerns I withdrew from the deal. But giving due credit to the builder they were very prompt in returning the cheque in lieu of the initial payment that I had tender.
My comments to replies
The project has been approved by BBMP and all the leading banks. It is a 6 floors project and they have got approvals for that. Have you booked an apartment or you are planning to book one?
Really...the approval is only for B+G+4!.. Also there is an IRWO notification which the builder is yet to provide NOC for..pl check all documents before buying or recommending to your clients.
15th May 2015
The said project has been approved by BBMP i.e., B+G+4 and the builder has not violated and constructing as per the plan.
I got to know that the survey number on which the property stands is notified for IRWO. Does any of you know if builder got an NOC on the contrary?
9th May 2015
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