Sreeshayam, Chennai
Posted Discussions
Posted Replies

Booking cancellation.
Q: Once apartment booking wanted to be cancelled. What is the procedure to contact builder. What is their reaction? Will the builder repay the booking amount?

My comments to replies
What is the procedure for cancelling an apartment? Two Months back I have booked an apartment, but now due to some unavoidable situation and getting bad reviews of this project I decided to cancel my booking, Construction has not started yet, will I be chargeable?
As per my knowledge, most of the cancellation instances occur due to buyers reconsidering their financial circumstances or unnecessary project delays. Some important thing that I want to share with you, Information related to cancellation clauses is usually written in Builder-buyer agreements including a sale agreement or property allotment. Go through the documents in detail as cancellation will be subject to the terms mentioned.
15th December 2015
Keep all communication in writing. Verbal assurances and promises will not hold in a court if a complaint has to be filed. Any VAT or service Tax paid will not be refunded in case of a cancellation. Application forms, acknowledgement or allotment letters may also contain terms and conditions of a cancellation which can be used to claim refunds from the builder
15th December 2015

Property tax
Q: What about property tax? when we are going to pay ? one fine morning we have to pay with arrears?

My comments to replies
I had purchased a flat in Feb 2013 now I want to sell this flat say dec 2015 what will be the tax legal responsibility.
Yes there will be tax liability as per short term capital gain tax rules. Long term capital gain tax is applicable only if the flat sold after 3 years. Long term capital gain can be reinvested in land in a stipulated time to avoid tax.
18th December 2015

When this project will get complete?
Q: Can anyone tell me when this project will get completed.. I am planning to buy house in this. The plans and the structure and the features, everything is good... Can u please tell the possession date.

My comments to replies
Hi All,we are looking to buy an apartment here in the F block but want to know about the builder and is it approved and obtained CC. Marketing manager says that they will complete by jan 2016. can you guys give some feedback please based on which we will decide....
Hi, genuine builder, I think you should go ahead with no fear about construction quality and delay in possession.
3rd December 2015

Any idea about the color homes florencia and builders?

My replies to this discussion
Dear Sir, I am planning to buy 2 BHK units at IYYAPANTHANAGAL , PORUR, CHENNAI, for invesment pourpose. project name: colour country. Builders name : colorhomes developers. need your advice for the same.Dear Sir, I am planning to buy 2 BHK units at IYYAPANTHANAGAL , PORUR, CHENNAI, for invesment pourpose. project name: colour country. Builders name : colorhomes developers. need your advice for the same.
Realty Investment in Chennai
Q: What is the outlook of Chennai real estate market ? Kindly discuss on this topic.

My comments to replies
I've a funds of Rs 80 lakh and need to buy an apartment in a township project, where must I invest - Old Mahabalipuram Road (OMR) or Anna Nagar?
Yes Anoop, Anna Nagar was the primary locality to have township projects throughout Chennai. Considered some of the prime residential localities, the area is well founded with renowned schools, malls, markets and institutes. The western style built road makes the locality completely advanced.
28th December 2015

Affordable housing scheme in Kochi in 2015
Q: I am from Coimbatore and my budget is not that much. I needed to know if there is any affordable housing scheme in the Kochi area that is available for the year 2015. Can anyone help me to get any such information?

My comments to replies
What initiative does central government has taken in years 2015?
The central government has launch of three flagship programmes in the country in years 2015: 1. 100 Smart Cities 2. Housing for All 3. The Atal Mission for Rejuvenation and Urban Transformation (AMRUT
30th December 2015

KG Signature City..
Q: Hi ppl! Just wanted to share a great news that Signature City is ready to move in now! I loved the project so much because of the impeccable quality and great location. Now that it is ready to move in, I'm really excited. We are in the process of booking a flat and i just thought i'll share the happiness. It is a great project and i would recommend to all home-buyers to check it.

My comments to replies
Hi, I am planning to book a 2BHK flat in the KG Signature city on Mogappair area. Can you give me info of these builders and their reputation, previous projects Information etc
KG Builders are one of the trusted names in Chennai and they have many projects spread in Chennai. Mogappair will have a great capital value for appreciation in the future and the project by itself is said to be massive and so it is going to be a high-quality investment.
7th December 2015
@ Charan, I travel daily though this project. It is not on bypass, there is a sub lane next to bypass. Take right from maduravoyal bridge when coming from koyembedu junction and keep going. Those on your left. I personally feel that if you are looking for residential project go for ready to move the project. DBAC projects mithalam and one more is completed and around the same price. Vgn massive construction is going on.
7th December 2015

Apartments in Mahindra Iris Court at GST Road
Q: Mahindra Lifespaces and Developers offer you Mahindra Iris Court at GST Road. This project supplies 3 BHK spacious apartments. This project offers ample modern amenities for a luxurious lifestyle. Location Advantages: Chennai Airport - 35Km Tambaram - 25Km Vandalur - 20Km Oragadam - 20Km Sriperambadur - 33Km SRM University - 12Km Ford, Marai Malai Nagar - 5Km Mahindra Iris Court Project has: Type of Apartment: 3 BHK Sizes: 1395 to 1467 sq. ft. Price: Starts at 48.13 lacs onwards Possession Date: 31 Dec 2016

My replies to this discussion
Hello all, I came across the residential project of Mahindra Lifespaces called Mahindra Iris Court. I am looking forward to buy an apartment in this project. Does someone have details of availability and price?Hello all, I came across the residential project of Mahindra Lifespaces called Mahindra Iris Court. I am looking forward to buy an apartment in this project. Does someone have details of availability and price?
My comments to replies
Hello all, I came across the residential project of Mahindra Lifespaces called Mahindra Iris Court. I am looking forward to buy an apartment in this project. Does someone have details of availability and price?
Thanks victor for your quick response. How is the builder reputation and the project worthiness?
10th December 2015

2 BHK Appartments in Padur
Q: Godrej Properties launches a new project Godrej Azure at Padur,Chennai. Padur is very near to OMR which is also known as Rajiv Gandhi Salai. This project offers spacious and skillfully designed 2 BHK and 3 BHK apartments. Godrej Azure Project has: Type of Apartment: 2 BHK and 3 BHK apartments Sizes: 608 to 1371 sq. ft. Price: Starts at 21.28 lacs onwards Possession Date: 28 Feb 2018

My comments to replies
Yes, Padur is slowly becoming a great place for many home buyers? Can anyone tell me what is the rental value I can assume from this place if I buy ready to move residential project in this area.
Rental market starts at Rs 10 k per month for a 2-BHK unit of 956 sq ft. Prices would go up to Rs 15 k monthly depending upon size, exact location and nearby infrastructure. If you are looking for 3-BHK unit, prices are in the range of Rs 12K to 40 K per month.
11th December 2015

Are there any properties in Chennai which were not affected by rains, How will one invest in Chennai after the floods?
Q: The floods have severe impact on chennai, are there any propertties which were not affected by the chennai rains, so people will be aware of good or bad projects before investing

My replies to this discussion
The recent rain and flood may have dampened hopes of a sustained recovery within the existing housing in Chennai. Financial institution and loan creditors are seizing possibility in this crisis.They are offering home development loans to clients at a concessional rate so that they can repair their broken houses without any problems.The recent rain and flood may have dampened hopes of a sustained recovery within the existing housing in Chennai. Financial institution and loan creditors are seizing possibility in this crisis.They are offering home development loans to clients at a concessional rate so that they can repair their broken houses without any problems.
S&S Ishan Review
Q: Hi, Can someone tell me about the details of the builders of S&S Ishan and also a little information about the facilities they provide?

My replies to this discussion
@ Maayavan If you are looking for end use, I would suggest this project. Well planned project with all the ultra modern amenities and open spaces. Rate is only the issue otherwise project is nice.@ Maayavan If you are looking for end use, I would suggest this project. Well planned project with all the ultra modern amenities and open spaces. Rate is only the issue otherwise project is nice.
KG Chandra Vista...
Q: When is the possession scheduled in this project? Is this good investment?

My comments to replies
Hi Surya, The project is almost going to complete, I think when you visit the site you will find that interior work is going on and I think within 3 to 4 months they will hand over my unit. Thanks
The Project is well connected with access to Bus Stops, Railway Stations. But is far from Metro Stations, Hospitals. It has access to Bus Stops like Sathyabama Bus Stop and Roads like OMR Road. This project is recommended for people who use car more frequently for commuting
29th December 2015

ColorHomes Berry at Kazhipattu (Chennai - Padur) OMR
Q: HI - I recently saw the property of ColorHomes behind Gateway International School Kazhpattur close to Padur. I kind of liked the property very much. I'm kind of feeling little insecure abt the property as lots of apartments are unsold still, after 1.5 yrs of launch, though the price/location seems to be good. Kindly share your thoughts/problems about the property if you or your friends had been there

My comments to replies
Which all financial institutions and local body has approved the project? Is the builder providing OC and Khata?
Recently I enquired about this project and builder sale persons said that he will provide OC and A Khata for this project along with construction agreement and EC.
4th January 2016

what can be done to cancel the registration of flat in kiwale area which was declared as red zone 2,months after reg.
Q: I have booked a flat in Vritti constructions kiwale in august 12,and construction started in Sept 12" for all 6 buildings and we did the registration for the flat in Dec 12,but in march 13" according to central government notification the part of serve no is under red zone. Builder did the remeasurment for his part of land from the district revenue dept and was given certificate that the Said area is out of red zone. Now can I cancel the registration and demand refund due to govt delays in notification

My replies to this discussion
Hi, Please refer good article related to your query visit here: https://www.commonfloor.com/guide/5-things-to-know-when-cancelling-an-apartment-booking-50445.htmlHi, Please refer good article related to your query visit here: https://www.commonfloor.com/guide/5-things-to-know-when-cancelling-an-apartment-booking-50445.html
Color berry
Q: we are planning to buy an apartment from color homes. can you give feed back on them?

My replies to this discussion
Builder has taken approval from CMDA for the project and project has no issue with the legal documentation part. All paper are clear. Banks like Axis bank, LIC, HDFC, Indiabull has approved the project. Sale persons said that OC and A Khata for this project along with construction agreement and EC will be providedBuilder has taken approval from CMDA for the project and project has no issue with the legal documentation part. All paper are clear. Banks like Axis bank, LIC, HDFC, Indiabull has approved the project. Sale persons said that OC and A Khata for this project along with construction agreement and EC will be provided
My comments to replies
If at all I am planning to purchase a property here what will be the purchase process. Please comment
At The Time Of Booking - 2,00,000 At The Time Of Agreement - 20% At The Time Of Registration - 35% On Completion Of Foundation Work - 10% On Completion Of 1st Floor Roof Slab - 10% On Completion Of Brick Work - 10% On Completion Plastering Work - 5% On Completion Of Flooring Work - 5% The remaining amount to be paid at the time of hand over
7th January 2016

Real Estate Cochin
Q: Any one have idea of new flat projects by dream flower builders in Cochin?

My comments to replies
Hi, Dream Flower Housing Project Pvt. Ltd. has recently launched few projects in Cochin. These are Ibiza in Kaloor, Estella -2 in Kalamassery, Velvetude-2 in Edappally and Aqua Marina near High Court. You can book in any of their project as it is just launched and you can get a good deal on it.
@Ram, I planning to book a 2BHK units in Ibiza, Kaloor. But i can only pay the initial/booking amount and rest of of the amount through bank loan. Can you update about bank approvals and possession date?
22nd March 2016

Post Demonetization Investments in Neemrana
Q: I am a prospective first time investor. I was encouraged by the consistent growth of real estate prospects in Neemrana region. However, I wanted to understand if there would be any negative impact of the Government's recent demonetization drive on the investment opportunities in Neemrana? My budget is around 25-35 lakhs. Can you suggest few safe options which can yield decent rental returns as well as price appreciation in near future. Thank you for your assistance.

My comments to replies
Hi, Most of India’s business environment has been tremendously shaken up by the recent demonetization of the higher currency notes by the Modi government. The real estate sector will definitely be affected by the demonetization exercise, as it has traditionally seen a very high involvement of black money and cash transactions. However, almost all such incidences have been in the secondary sales market, where cash components have traditionally been a veritable ‘must’. In other words, the resale properties segment will take a big hit. However, short-term pain is inevitable when we look for any eventual long-term cure for the disease. So, this is not the right time to buy property. Wait for 6 months property price will come down if there will be no buyer and huge inventory pile up. Developers will have to reduce the price if there will be no money in the markets.
Don't forget that the liquidity squeeze is only temporary and with the changing times, it would only lead to clear and transparent transactions. Price of property will be seeing a downfall in the near future because of this demonetization.
18th November 2016

Yes, and specially the luxury segments. The luxury and high-end segments of residential real estate will also see a major impact from this exercise, since it is another area which has seen a lot of payments done in cash. The legal banking/financing channels have accounted for only a small part of all transactions in this space. The demonetization move is likely to result in luxury property prices dipping by as much as 25-30% as sellers struggle to offload properties to generate liquidity.
Yes, i am totally agree with you Daya. Realty sector has the largest share of India’s black money. This move, to eradicate black money, would cause an upheaval in the real estate market. The primary sector or fresh inventory sale would be least affect by this move because most of its transactions are taken over by the finances provided by financial institutions and banks. The resale market is where the real hit would be. However, people would now look out for better real estate investment where there is more transparency in payment structure.
18th November 2016

I have a flat in Ceebros Shyamala Gardens, which I am looking to rent.
Q: I have a flat in Ceebros Shyamala Gardens, which I am looking to rent.Its 1520 sq. feet

My replies to this discussion
Hello sir, I am looking for a 2 BHK flat for rent in Saligramam. Can you tell me the rent and the security deposit of your flat? Also mentioned the terms and condition. Can i get agreement for that?Hello sir, I am looking for a 2 BHK flat for rent in Saligramam. Can you tell me the rent and the security deposit of your flat? Also mentioned the terms and condition. Can i get agreement for that?
Marg Group Marg ProperTies Marg Group News GRK Reddy Marg Group GRK Reddy Marg Swarnabhoomi Marg ProperTies chennai Marg
Q: I wanted to invest in Marg Swarnbhoomi one of the best project of Marg Properties

My replies to this discussion
Hi Amit, Marg Swarnabhoomi Aayush is a residential project, situated in Kottivakkam, Chennai. It offers 2 BHK residential apartment ranging from 660-762 sq.ft. Its current asking rate is Rs.6200 per sq.ft. A 2 BHK flat will cost you Rs.40.92L onward.Hi Amit, Marg Swarnabhoomi Aayush is a residential project, situated in Kottivakkam, Chennai. It offers 2 BHK residential apartment ranging from 660-762 sq.ft. Its current asking rate is Rs.6200 per sq.ft. A 2 BHK flat will cost you Rs.40.92L onward.
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