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Looking For Advice On Buying a Ready-To-Move Apartment in Gurgaon

By schandra, Section Ask Questions
Posted on Mon May 25, 2009 at 09:53:57 PM EST

Hello,

I am looking to buy an apartment in Gurgaon (around 2000 sq ft - 3 bedroom + servant) preferably not on Sohna Road and ready to move in with a budget of 75 Lakhs (end to end)

The options I have shortlisted so far are:

1. BPTP Freedom Parklife (around 2300 sq ft) in towers that have been offered possession

2. Unitech Close North/South (2080 sq ft) that have been offered possession. This unfortunately does not have a servant room and the 2500 sq ft apartment with servant exceeds my budget.

The other option that I am thinking about is to buy Fresco that is to be offered possession by Dec 2009.

Would love to get suggestions from the group on this.

Thanks.

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Looking For Advice On Buying a Ready-To-Move Apartment in Gurgaon | 6 comments (6 topical, 0 hidden) | Post A Comment

re apt (none / 0) (#5)
by Unregistered Visitors on Mon Jun 01, 2009 at 06:26:54 AM EST

I wouldnt advise bptp.Not a safe bet.
Unitech is safer though their end finish is quite shoddy and tacky but their maintainance is good.
At this price you can get fresco or close as people have been trying to sell these properties for quite some time.
Just buy a finished product as builders are running out of money and dont go by promises which say ready soon.
Hope this helped.

[ Reply to This ]

vipul green (none / 0) (#4)
by Unregistered Visitors on Thu May 28, 2009 at 04:26:42 AM EST

Buy Vipul Green. It's a very nice property on Sohna Road..Club, 3 pools, gym are all functional..It will fall in your budget..

[ Reply to This ]

There is no rate as such (none / 0) (#3)
by Unregistered Visitors on Wed May 27, 2009 at 08:36:26 AM EST

I think the market is totally deflated; if you look at the quotes people are making they seem to be their original purchase price + the bank interest they would have earned.

I think that is a psychological barrier which still needs to be broken for real price discovery to happen.

So, a good deal is actually paying someone to take away his headache[so called investment] away and paying him what he paid for it i.e. his purchase price only if is NOT your problem if he overpaid.

[ Reply to This ]

stay away from brokers! (none / 0) (#1)
by Unregistered Visitors on Mon May 25, 2009 at 11:29:43 PM EST

I too am looking for a ready to move property specifically a DLF property like Icon/royalton which are decent size apts.

I contacted a few brokers from their newspaper ads and found that they were quoting different prices/sqft. The range quoted was between 5000-5600/sqft, so you can imagine. It was downright absurd and I realized that these brokers just want to qoute higher like it is their own property and it is so in most of the cases I believe.

In these recessionary times, the prices being quoted is on the same level as they were when the property boom bubble was at the largest level.

I urge all looking for property to buy to observe restraint and not be in a hurry to purchase. Those days are gone when people thought that the property prices will go up and up from the present levels and it is wise to buy at any price. This only helped the brokers make huge money on commissions and overpricing but they didn't realise the power of demand-supply which eventually levels all the speculative prices.
The greed of these brokers and the NRIs who trusted them and invested blindly has led to a situation where the market has been stagnant and these brokers are on the verge of starting another business.

[ Reply to This ]

: re price (none / 0) (#6)
by Unregistered Visitors on Mon Jun 01, 2009 at 06:29:08 AM EST

I think the price of royalton or icon is lower and somewhere around 4800psf.Definately not 5600.But buy a ready property only.

[ Parent | Reply to This ]
: I experienced the same (none / 0) (#2)
by Unregistered Visitors on Tue May 26, 2009 at 09:44:46 PM EST

I was looking for a property in Dwarka and found that builders are still quoting the same rates as at the peak. For example, a 3 BR is quoting anywhere between 65-90 depending upon various factors. This is insane.
The associate of one of the dealers told me that not more than 3-4 deals are taking place in a month in whole of Dwarka. Dealers are living off the renting business only.
My friend who lives in a rented appt there told me that one 3 BR first floor sold for 58 lacs in his appt but when I contacted the dealer, he quoted 70 for a similar property. Of course I walked out.

[ Parent | Reply to This ]

Looking For Advice On Buying a Ready-To-Move Apartment in Gurgaon | 6 comments (6 topical, 0 hidden) | Post A Comment

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