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Is Emaar MGF Palm Hills Sector 77 Residential Project a Good Investment?

By ugesh sarkar, Section Ask Questions
Posted on Thu Mar 11, 2010 at 03:11:26 AM EST

Emaar MGF Palm Hills, Emerald Estate, Sector 77, Gurgaon

Approx 45-acre, G+7 mid-rise group housing development, part of the larger master-planned gated community of Palm Hills in Sector 77 Gurgaon.

Apartment project in area of approx 40 acres

Size 1450 sq.ft. 3 BR + Servant Quarters Rs.50 lakhs
Size 1955 sq.ft. 3 BR Servant Quarters

Rs 65 lakhs

Qubrex - Emaar MGF PALM HILLS Sector 77 - Brochure

Qubrex -Emaar MGF Palm Hills Sector 77 - Payment Plan

"Click here to download Emaar MGF Palm Hills Application Form"

Prices :

Total: Approx Rs 50 to 65 lakhs

per sq ft Aprox

EDC/IDC Charges : 337/34 per sq ft Aprox
Car Parking : 2 Lac
Club Membership : 50,000

Booking Amount - Rs 5 Lakhs

Location - Palm Hills,

Sector 77, Gurgaon
Easy access from NH8, right next to Tilda Rice Mill
Designed by leading international architects - ARCOP
Efficient floor plans

For details please write to Qubrex@gmail.com or SMS 9811987371

Source: www.GurgaonScoop.com & www.Qubrex.com Emaar MGF to Launch Palm Hills in Sector 77 of Gurgaon - New launch Feb 2010

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Is Emaar MGF Palm Hills Sector 77 Residential Project a Good Investment? | 55 comments (55 topical, 0 hidden) | Post A Comment

MGF sector 77 (none / 0) (#56)
by Unregistered Visitors on Wed May 12, 2010 at 09:25:52 PM EST

I request every body who has invested or likely to invest in this must do physical survey of project taking round trip.
on one side of the project there is Rice mill sheller noise in the night
other side containers Parking, warehouse
and container repair body workshop
Kindly go in the night and stand there and listen
the noise and decide the issue
If you cannot go kindly ask the neighbour, and also do the survey of the surrounding area
when u ask the same thing from incharge of the sample flat they said ,this factory will be removed, who (Factory)is giving crores of rs as foreign exchange
It is always better if we do the physical survey of the project of that area before purchasing, and final thumb rule is location,location location

[ Reply to This ]

Emerald Hills (none / 0) (#53)
by Unregistered Visitors on Fri Apr 02, 2010 at 10:03:20 PM EST

What about Emerald Hills - is that a good investment?

[ Reply to This ]

Bad investment (none / 0) (#49)
by Unregistered Visitors on Sun Mar 28, 2010 at 01:00:21 AM EST

I am not sure where this discussion is going. I will try & answer the orignal question. If palm hills a good investment. My answer is "NO". You have to be crazy to buy an apartment at that price at that location. DLF Exress green a few KM's ahead is 2500 psf. DLF New Town heights has 3 roads connecting is 2150/- Psf. this also come with 10% timely patment rebate. The construction of both these projects is on & no one has been able to deliver better than DLF. If i was to invest I would not even look at Emaar MGF Palm hills choice is yours.

[ Reply to This ]

flats selling??? (none / 0) (#37)
by Unregistered Visitors on Thu Mar 25, 2010 at 09:58:22 PM EST

According to Emaarmgf 300 flats have been already sold out according to phase 1 & 2 in first 2 weeks of launch..........why are ppl buying these flats even after such bad name of emaarmgf in last 1-2yrs.........or is the company lying about these sellings...........do we have any power according to RTI to get information about genuity of these 300 buys.........please help............should i invest in this palm hills launch????

[ Reply to This ]

Palm Hills - Sold (none / 0) (#48)
by Unregistered Visitors on Fri Mar 26, 2010 at 09:08:16 PM EST

My friends i was at Palm Hills and their office yesterday and spoke to a lot of people, they have sold over 550 flats by now. If u go to site or office and u will see loads of people.

big reason is the money people made in Emaar's earlier project where some who have paid total of 10 lac are selling it on 10 lac premium , Looks like all of that is coming back in bookings,.

[ Parent | Reply to This ]

: Palm Hill- Sold/ a Myth and not a fact. (none / 0) (#52)
by Unregistered Visitors on Thu Apr 01, 2010 at 11:13:50 AM EST

This is total rubbish. I don't think that they have even delivered a single project yet. They were even bailed out by DDA in their commonwealth village project.

[ Parent | Reply to This ]

Palm Hills - Sold (none / 0) (#47)
by Unregistered Visitors on Fri Mar 26, 2010 at 09:07:13 PM EST

My friends i was at Palm Hills and their office yesterday and spoke to a lot of people, they have sold over 550 flats by now. If u go to site or office and u will see loads of people.

big reason is the money people made in Emaar's earlier project where some who have paid total of 10 lac are selling it on 10 lac premium , Looks like all of that is coming back in bookings,.

[ Parent | Reply to This ]

investment?? (none / 0) (#36)
by Unregistered Visitors on Thu Mar 25, 2010 at 09:20:02 PM EST

Actually i m really confused after reading comments over here...............should i go for palm hills plan???after seeing the reviews about emaarmgf's palm drive i have lost little bit interest in palm hills...........what's your opinion?????what documents should i get from emaaar in written if they are promising to start the site work in september????will they be useful if construction doesn't start on time???

[ Reply to This ]

sincere advise (none / 0) (#38)
by rigby2015 on Fri Mar 26, 2010 at 04:45:53 AM EST

Haryana govt has recently allowed registration of independent floors as a result of which the strict monopoly of big builders (who own land in so called developed area) is broken. One thing that you can do is buy a plot of land in a decent location (I can name a few if you want) and have a three storey building constructed there. You can keep one or two floors and sell the rest. If it makes sense to you, reply back and I will help in whichever way I can.

[ Parent | Reply to This ]

How Sincere? (none / 0) (#39)
by Unregistered Visitors on Fri Mar 26, 2010 at 06:38:51 AM EST

Last time I interacted with you through this site, you did not want to reveal the questions asking about yourself. You took Highway instead of revealing about yourself.

What is your role in offering your services this time in recomending lands? Are you a real-estate agent? What is your interest in this help?

Secondly, the supply of the built units is more than the buyers can absorb. It is a matter of time before the prices decline with the anticipated increase in the interest rates by next year.

How sincere is your advise? Why should one trust you? Do you not want experience at the others cost?

Stay on highway!

Cheers

[ Parent | Reply to This ]

WOW!! (none / 0) (#40)
by rigby2015 on Fri Mar 26, 2010 at 07:03:32 AM EST

Part of the problem is that there are too many "unregistered visitors" here on this site, so one can not know if it is the same person that one talked to earlier. Hope this makes it clear that had I known that you are the same person who asked me to take the highway, I would have definitely not offered my advice/help!
On the questions raised by you, first of all I never said that I do not want to reveal my identity, feel free to go back to my replies and reconfirm. Secondly, it was you who offered "my way or highway" which in my opinion is the stand builders usually take. They want you to hand them over booking amount and then atleast another 35% of the price of the property before they even start construction and if you dont like that your bad luck. It's their way or highway. If you think builders are not justified in taking such a stand, IMHO you are trying to be the other extreme.
My role is pretty much clear from my earlier posts (after which you offered "my way or highway" option), I am trying to constructively contribute to cleaning this mess that exists today in RE industry by offering an option to those who want to be a part of this initiative. Of course this effort can not be on a grand scale as I do not have that sort of capital. Terms and conditions of such an arrangement should be fair (for both buyer and builder) and should be arrived upon by mutual agreement.
I very much appreciate the expert advice about "RE prices coming down in an yr" that you have offered, hope you have used your acumen in the past and made tons of money and would continue to do so, if that is what you are here for! Unfortunately, that is not my intent here, like I said my intent here is 20% commercial and 80% social. Hope this answers your concerns, if not don't bother to reply/argue as I do not want an expert like you to waste his time on unproductive acts!

[ Parent | Reply to This ]

Stop fooling people. (none / 0) (#41)
by Unregistered Visitors on Fri Mar 26, 2010 at 08:01:58 AM EST

You are bent upon making negative comments about anybody who is trying to analize you.

You have not given any good points about why anybody should trust you rather negative points about the person opposing you or builders.

What do you eat "shit"?

I am not a builder, but understand builders-although bad, they may give lower prices as they buy in bulk and have experience. Why should anybody go with you and commit from 'frypan to fire' or in hindi, " aasman sea girae aur khazoor pei ataike".

Give some personal guarantees and lower cost. You are no one to say whether I should write or not.

Stop tying to be a builder at pepole's cost, and stay on highway for ever.

Cheers.

[ Parent | Reply to This ]

Good Analysis! (none / 0) (#42)
by rigby2015 on Fri Mar 26, 2010 at 08:31:59 AM EST

Looks like I somehow hurt you which, believe me if you can, was not my intention. Though you are almost calling me names and all, I understand this is what you are and you can not help it!

As for "eating shit", hope whichever source you learnt this phrase from, continues to enlighten you so that you can make these insighful analysis. I agree you totally understand builders and this industry but then someone like me who "eats shit" can not understand why you are asking advice on whether to buy Palm hills or not.

You are very much free to write wherever and whenever you want but in a civilized society it is assumed that "expression of speech" does not include a right to villify others unless they are proven guilty.

And the last point that you raised about not try to be a builder, why would you want me not to do that? I am not using your capital for construction (which is what builders generally do) so this atleast should sound a better option for buyers, of course truth has to be dug out but that requires further discussion which you are not allowing here. So does that mean that you are creating something that is called "barrier to entry" in this industry? Why would you do that if you are not a builder? Why would you not want this mess to be cleaned if you are not a great beneficiary of the existing system?

Stop being an "Argumentative Indian" for short term gains! If this system is benefittig you right now, it is guaranteed to come back and bite you in the back later on, this is established law of nature and is called "Karma".

For the last time, plz dont waste your time if you dont agree! Put it to some better use, and if you dont have anything better to keep you busy, concentrate on your property dealing business. Start one if you dont one!

[ Parent | Reply to This ]

Exposed! (none / 0) (#45)
by Unregistered Visitors on Fri Mar 26, 2010 at 12:02:57 PM EST

I hope I have exposed your intentions throughly for anybody not to trust you with your negatives about the builders instead of showing positives about you.

Enjoy your Karma.

[ Parent | Reply to This ]

Congrats, (none / 0) (#46)
by rigby2015 on Fri Mar 26, 2010 at 02:39:16 PM EST

You surely have! Just to make sure that you are fully aware of your achievement and can sleep tight tonight, I specifically declare that you have exposed successfully my nefarious designs of cleaning up the RE mess and provide a clean alternative to some! You won, I lost.

[ Parent | Reply to This ]

nonsense (none / 0) (#50)
by Unregistered Visitors on Mon Mar 29, 2010 at 12:20:03 AM EST

This whole thread and your idea makes no sense to me. Think for a moment if all private schools in Gurgaon gang up and raise their fees by 10 times then what would you do? Start a school to provide good education at reasonable cost? What if all doctors gang up and say that they will charge 10,000 Rs for seeing a patient every time? Would you start a charitable hospital?

Fortunately, this is not likely to happen since economics takes care of it. Housing somehow seems to defy all logic and greedy builders backed by politicians do seem to have a successful cartel where they are able to charge anything for their product.

I can assure you that there will be people willing to pay 10 times school fees or doctors fee if they can afford it. So thats the same for real estate. Everyone knows they are overcharging but those who can pay are paying. Those who can't can wait till the whole mania blows over.

- Fubar

[ Parent | Reply to This ]

: Non sense to some, perfectly logical to others (none / 0) (#51)
by rigby2015 on Mon Mar 29, 2010 at 09:23:04 AM EST

,it depends on your attitude. You are ok with venting out your anger and frustration here at this forum and wait for someone else(may be laws of economics) to come and rescue you. And then there are some who think other wise and are at least ready to give it a try by doing something on the ground, like these guys.

IMHO, the problem lies in your understanding of the cause of this problem and what is going to happen if it is not corrected. The class of the society which consists of honest, tax paying, service class people would continue to work their a**es off to make a select few rich. These rich would, and are exploiting the system with their money power. They park their illegal money here in RE and since they do not need it in near future, they dont care if there are no buyers in the market at those artificially high rates, they would just wait for next year or year after that or next 10 yrs. Meanwhile, the service class would continue to fill their master's coffers with their sweat and blood and at the sametime would increasingly find themselves in a tight spot because of declining infra-structure, increasing crime rate because of economic disparity and daily civic issues.

Fortunately for you, if and when things improve because of people like those mentioned above (freedomTeam), you and other "spectators" would be able to enjoy, along with those who worked for it. Till then, have fun writing your comments here on this forum!

[ Parent | Reply to This ]

different user (none / 0) (#43)
by Unregistered Visitors on Fri Mar 26, 2010 at 09:16:44 AM EST

I am totally a different guy who posted the query..............u both have diverted from the question which i originally asked........

[ Parent | Reply to This ]

: Cunning EMMR has swallowed my money (none / 0) (#44)
by Unregistered Visitors on Fri Mar 26, 2010 at 11:42:51 AM EST

EMMR on the whole is very cunning lot. I bought an Apartment from them back in 2006 and still they have not laid a singler brick and I am suing them for refund of my money. This shows how good or reliable, this builder is. My project name is- the views- Mohali Hills, Mohali, near chandigarh.

[ Parent | Reply to This ]

Emaar Property (none / 0) (#34)
by Unregistered Visitors on Wed Mar 24, 2010 at 12:02:46 AM EST

Go ahead and buy it but be prepared to wait for atleast three years.Well it takes a minimum time to get the propoerty developed and nearby area to come up so you cant blame the builder entirely for this.Indian growth story is still on and like one of the posts says - long run you would make money on this.

I have invested in Bestech Park View Spa Next in Sector 67, the property is coming up well but initially I was wooried as well.Please ensure that the builder has all the approvals in place and take it in writing about the construction commencement and the delivery date.

[ Reply to This ]

It is your money !! (none / 0) (#32)
by Unregistered Visitors on Sun Mar 21, 2010 at 02:16:00 AM EST

Hey fellow ... put your one crore where it makes money. And find a good rental place to live with your family!!
Paisa lagao phir rona shuru ho jayega
<a href="http://unitechhorizon.blogspot.com">http://unitechhorizon.blogspot.com</a>
Havent you seen hundreds of such stories?
Unless you are builder selling this property thru such a question.

[ Reply to This ]

Palm hills mgf emmar future (none / 0) (#10)
by Unregistered Visitors on Mon Mar 15, 2010 at 09:06:52 PM EST

Every project has to evaluated in term of its cost. It may have a better location as compared to Vatika next or IMT or Dharuheda, but it is no match to proper gurgaon Sohna road or Golf cource rd or ext road.The price MGF announced is too high and investor probably will never be able to recover it in long time to come.Then next issue of delivery of project.One yr before launched projects have to see light of day of MGF.God knows when this will be delivered.See their penalty clause you will find it is from date of construction ,not from sign of agreement ,which is normally the case,So they have no obligation to start thr project in hurry but you will pay them almost 40 percent till they start meaning full construction.They failed in IPO ,now it is for them as high priced IPO where they dont want to leave any thing for investors but at the end of day there is no dearth of fools in this country who will invest in this project to fund their earlier project,
Agrim

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Let them first start earlier projects for which... (none / 0) (#8)
by Unregistered Visitors on Sun Mar 14, 2010 at 11:41:02 AM EST

Emaar MGF collected money in the summer of 2009.

They have taken two installments already - I was one of the suckers who was taken in by their 'international company' etc. publicity.

Start of construction was publicized for October / November last year. But, nothing has started yet.

If you want to invest in their new project, just be prepared to lend them interest free money so that they can make interest payments on the company's humongous debt load.

BE CAREFUL!!!!!!

[ Reply to This ]

Constructive input! (none / 0) (#11)
by rigby2015 on Tue Mar 16, 2010 at 04:53:04 AM EST

Even though people have been cursing builders like anything on this site, their products are still getting sold-out in a few weeks if not days. I see a parallel here between two industries in India: Real Estate and Politics. The services provided in these industries (yes, politics is an industry in India!) are crappy but the market is 100% manufacturer oriented. Both industries are churning out billionaires like anything. Given this scenario, how do you think the situation, atleast with RE sector, can be improved? Don't hold your breath over proposed RE regulation laws as it would probably be like any other law i.e. not applicable to high and mighty. If I want to make a humble beginning in this industry, what would you expect from an ethical builder? Please remember that this is not a non-profit initiative so things like "build dwelling units and sell them at cost price" is not feasible. At the same time, having something in place that will ensure peace of mind (like possession within 18 months from the date of booking else return of money with interest or selling rate would be on carpet area and not super area) for both buyer and builder is what I would call ethical. Can serious, informed and those motivated to clean this mess, please respond with their inputs?

[ Parent | Reply to This ]

fools paradise (none / 0) (#13)
by Unregistered Visitors on Tue Mar 16, 2010 at 01:22:36 PM EST

All those guys who curse builders etc I pity onthem, take history of property prices in india, you can see thy usually become 10 times in 10 years consistently. Builders will cheat if you take plot they will deduct 10% after say 2,3 years of development before handling over possission or will increase 10% suoer area in case of flat, even then people buy everybody want to make money. EDC IDC are payable to Govt , canot be included in price, whole game is laced with bribery to politician hence evenn builder can do nothing

[ Parent | Reply to This ]

exellent response (none / 0) (#14)
by Unregistered Visitors on Tue Mar 16, 2010 at 02:00:26 PM EST

from someone who is good at only that, i.e. plain talking! Are you saying that prices have gone up by 10000000000 times (100 billion times) in last 100 yrs? So going by your logic which is price go up 10 times in 10 yrs, a house that costs 2 cr today used to be 20000000/1000000000 (which is 0.2 paisa) 100 yrs ago? I pity your reasoning and the pathetic life that you are forced to live with this handicap of yours. Try to be a bit constructive instead of being a smart ass! Understand the motive of the post and if you think you are not capable of contributing anything positive, don't embarass yourself by posting silly and meaningless comments.

[ Parent | Reply to This ]

see this (none / 0) (#19)
by Unregistered Visitors on Wed Mar 17, 2010 at 10:57:47 AM EST

If you practical - people still buying, all persons who discus here they are hypocrates
Anyway I am notin business of cursing back in any case I will g ive you examples-
1. Delhi - 1980 shalimar bagh pitam pura price 100 per sq yd 1986 price 2000 sq yd 1996 price 20000 2006 year prices 200000 per sq yd prices 2010 250000 ( wait till 2016).
Gurgoan
dlf
1986 price 700 1996 price 7000 2006 price 70000 current price 90000
Rohini
flat price 1990 1 lac 2000 year price 10 lac 2010 price 1 cror
look I am regular investor, I advise people never ever buy in stocks , buy property and leave it like that land is never created , population increases and our beloved politician love to invest in land, donot heed to morans

[ Parent | Reply to This ]

no curses please - see examples (none / 0) (#18)
by Unregistered Visitors on Wed Mar 17, 2010 at 10:37:21 AM EST

If you practical - people still buying, all persons who discus here they are hypocrates
Anyway I am notin business of cursing back in any case I will g ive you examples-

1. Delhi - 1980 shalimar bagh pitam pura price 100 per sq yd 1986 price 2000 sq yd 1996 price 20000 2006 year prices 200000 per sq yd prices 2010 250000 ( wait till 2016).
Gurgoan
dlf
1986 price 700 1996 price 7000 2006 price 70000 current price 90000
Rohini
flat price 1990 1 lac 2000 year price 10 lac 2010 price 1 cror
look I am regular investor, I advise people never ever buy in stocks , buy property and leave it like that land is never created , population increases and our beloved politician love to invest in land, donot heed to morans

[ Parent | Reply to This ]

I dont agree! (none / 0) (#20)
by Unregistered Visitors on Wed Mar 17, 2010 at 11:48:41 AM EST

And my reason is simple: if everyone does what you are saying, which is to invest in RE and sit back and watch it grow, Indian economy will sink in no time. Investing in RE is not productive to the economy esp. when it is done without any value addition. For example if you buy a piece of land and just let it sit there and then sell it after 10 yrs for 10x of what you paid for, your contribution to the economy is zero. And if everyone does that, that is invest in RE without any value addition, all the savings would just get locked there, leaving nothing for the economy to grow upon....to set up new industries and ventures. The return on investment in RE has to be reasonable so as to justify the investment in other sectors of the economy too, I hope you understand what happens when only one sector (RE) grows and others don't. It results in what happened in 2008-2009; actual consumer of the RE sector did not have money to buy for the end use and hence the slump in RE.

But that is not what we are discussing here: we are digging into the malpractices of builders/brokers lobby and seeking ways out of that. One way is to bring in healthy and ethical competition and that is what I am trying to define here with the help of some veterans. Hope I made myself clear and if I did, please respond to the original question.

[ Parent | Reply to This ]

: WANT to make money in property? (none / 0) (#22)
by Unregistered Visitors on Wed Mar 17, 2010 at 09:57:57 PM EST

Well, I will not comment on what you write about appeal to higher authority not to invest in RE,
for all people , I can give yu how to make money in real estate
first rule is -- never buy from builder, buy from open market - why cos builder will add his profits which wil eat away ur profit for next 4 years.
Just based on above rule you should not buy in emmr or whatever builder
I can give more rules only if I am asked to here

[ Parent | Reply to This ]
: logic (none / 0) (#21)
by Unregistered Visitors on Wed Mar 17, 2010 at 04:20:59 PM EST

My Unknown Friend,
You are trying to apply logic here. IMHO....logic doesn't work. Atleast think about it.
Good Luck whatever you decide do or not do.
Regards,

[ Parent | Reply to This ]

Are you serious! If yes, here is my input (none / 0) (#12)
by Unregistered Visitors on Tue Mar 16, 2010 at 08:57:49 AM EST

As a buyer, here are my concerns:

Security of my money/investment i.e. I will get the property handed over to me and the builder will not just run away with my money.

Timely delivery: of the property as promised by the builder, hefty fine otherwise.

Area: should be well defined (carpet area and not a vague thing like super area).

Reasonable price: is something that makes sense. I know there is a builder-property dealer nexus out there that makes sure that prices are artificially jacked up.

No hidden charges: like IDC, EDC and all that. Just tell me how much will my property cost and stick to it.

Hope this helps.

[ Parent | Reply to This ]

Are Builders justified in how they treat consumers (none / 0) (#15)
by rigby2015 on Wed Mar 17, 2010 at 04:55:09 AM EST

First of all, I thank you for your response but I must say that I am kind of disappointed as we have received only one meaningful response! There hundreds of visitors here on this site who don't miss smallest of a chance to curse the current system and builders and who not, but when it comes to doing their bit for the solution they just sit back and wait for others to do this job for them. How shameful, infact pathetic! I know there are numerous yahoo and google groups that people formed after "feeling cheated" by the builders/dealers but for them giving out 5/10 minutes to constructively contribute to the society is hard! No wonder we get this treatment from high and mighty. But do we deserve this? I request everyone once again "Don't sit back and wait for your turn to get robbed of your hard earned money...be pro-active and respond with what you think!"

[ Parent | Reply to This ]

my demand (none / 0) (#16)
by Unregistered Visitors on Wed Mar 17, 2010 at 06:30:43 AM EST

I want just one thing. Make sure not even a single person in the country is able to hide even a single paise of their income. Once that happens, we will be rid of all ills. Till taxpayers are in minority in our country, the loot and corruption will go on.
In case of a house, I can chose to not buy and save my money from builders but what about my tax money which is being pilfered in providing security to corrupt politicians and subsidy to those who don't need it.
- Fubar

[ Parent | Reply to This ]

Bestech ka possesion letter (none / 0) (#35)
by Unregistered Visitors on Thu Mar 25, 2010 at 02:53:20 AM EST

i received letter for demand against possession last month from bestech for park view residency flat. I have few query if some body may reply:

They are charging 25,000/- as sewerage Treatment plant charges, is it normal practice for all the builders.
Rs. 45000/- for Electricity connection charges seems too high , Is it OK ?
They are asking for 6 months advance mainteneance charges, is it OK.

I am more troubled after getting this letter. Regarding flat, they have bisected the total area in two parts and it has badly affected layout.

Please advice -------

[ Parent | Reply to This ]

damn right you are! (none / 0) (#17)
by rigby2015 on Wed Mar 17, 2010 at 07:04:06 AM EST

but this is a grand dream, infact IMHO too big to be realized in one go. You need to understand that our system is so rotten right now that if you make public your intentions of cleaning it up, you and your initiative will be suffocated collectively by those benefitting from this current system. Moreover, its hard to find "a saint" these days who is ready to sacrifice his whole life for people who won't even acknowledge/appreciate his efforts, and I am surely not that saint. Long story short, I want to start something that would be 80% for the good of the society and 20% for my own livelihood. In the process, if I am able to make it big, great for me but even greater for the society, and if I don't succeed thats ok too as I am already living a comfortable life with my family. So again, tell me what you think would be ideal playing ground for both builders and consumers.

[ Parent | Reply to This ]

apathy (none / 0) (#23)
by Unregistered Visitors on Thu Mar 18, 2010 at 12:23:25 AM EST

Good to know that you are living comfortably with your family. Same is the case with everyone who should/could raise their voice. You just have to pay 1/3rd of your income as 'hafta' (which they call income tax) to the goon politicians and they will let you live happily. If everyone is so happy then why should this apathy ever end? Anyways, good luck to you.
-fubar

[ Parent | Reply to This ]

raise voice? (none / 0) (#24)
by rigby2015 on Thu Mar 18, 2010 at 04:52:10 AM EST

I am surprised that you treat "raising a voice" as a better alternative to some action as the one I am trying to take. It is quite evident that you are inspired but only upto "raising a voice" in this forum and that's it! I think there are less than 1% of people among educated Indian citizens who will qualify as fubar and its a shame that out of those very few fubars even less agree that action is better than words! we all should probably just wait for an avatar/messiah to come down and set this mess right!

[ Parent | Reply to This ]

reply to "Commotion" (none / 0) (#27)
by rigby2015 on Thu Mar 18, 2010 at 07:19:24 AM EST

Good that you asked this, my intention is exactly that, that is to create a commotion in the builder community. Right now, most of us are sure that all the builders/brokers are crooks and dishonest people who just want to suck money out of their customers, and since there is no other alternative, "aam admi" has to live with them. Instead of just writing blogs/posts about this issue, I want to go out and do something about it....atleast give it a try! So what I propose here is an initiative where I get into this business and give builders/brokers a competition. Of course my USP would be "I am what a builder ought to be" and for that I need hlep from people here on this forum. Why should you guys help me? Well, do you want this RE industry to change for good? At this point all I can do is assure you that your time (and thats it, I just need your time right now) would be more productive in this initiative than if you just whine about RE industry on this forum. Specifically, I want you to help me define a "fairly levelled" field where both parties' (builder and consumer) rights are taken care of and no one can take the other for a ride. See this post for some of the suggestions. Now, I am waiting for your response/input.

[ Parent | Reply to This ]

Response to "Think" (none / 0) (#29)
by rigby2015 on Thu Mar 18, 2010 at 09:30:09 AM EST

Now you are talking and I am glad that you are doing so. But the things that you have listed are not your concerns, they are ways to address your concerns. Why do you need to know about my personal assets and previous and current jobs? My guess is that since you are going to trust me with your hard earned money which you will be putting down as down payment and all, you need to make sure that I am not going to run away with that. Agreed, but there are other ways to make sure that your money is safe, how about you don't give me any money as booking amount, just have it in an escrow account or something where it would remain till you get the possession. Though this means that the whole project will have to be funded entirely by me, I am fine with that. Its not that I want to keep my identity secret here and so do not want to give out these details, IMHO things you listed are run of the mill checks that people do with regular builders and still get cheated. We have to be more creative and think out of the box to come up with ideal terms and conditions. In a civilized society, this is usually done by government and law makers but since our gov and lawmakers are still under the process of evolution, the onus lies with people like you and me. Questions? Thanks for your responses so far, btw!

[ Parent | Reply to This ]

Not Interested (none / 0) (#30)
by Unregistered Visitors on Thu Mar 18, 2010 at 01:31:02 PM EST

I am not interested in your deal on your terms.
My way or high way!

[ Parent | Reply to This ]

: Good luck (none / 0) (#31)
by rigby2015 on Fri Mar 19, 2010 at 04:22:22 AM EST

I will take the highway. Hope you too reap the benefits of this clean-up act, in case it is successful!

[ Parent | Reply to This ]

Think! (none / 0) (#28)
by Unregistered Visitors on Thu Mar 18, 2010 at 08:19:14 AM EST

Why should people beleive you?
What sort of personal assets you have to put them on line?
What sort of building experience you possess?
What is stoping you to build first and sell finished product?
How much profit are you looking for yourself?
What is your present job, and list of your previous jobs? Are they verifiable?
Do you have any political connections?
Where do you live now? Address?
How much Income-Tax, personal or business you have paid in the last ten years under your PAN ?
Any court case against you or any other infraction pending or due to the best of your knowledge?
Can you get a bank loan and how much?
Where do you bank?

The saisfactory answer to the above questions can be the first step.

[ Parent | Reply to This ]

Fooling on account of Promotional card - Diana (none / 0) (#26)
by Unregistered Visitors on Thu Mar 18, 2010 at 06:49:51 AM EST

This is my experience on fooling people by promotional cards by the beauty parlor in sec 31 named as Diana. They first sell the cards by coaxing people and then when you visit the parlour the staff does not even respond properly when you go with the card. I would not advice you to visit this parlor even if it gives its services free of cost

[ Parent | Reply to This ]

Commotion ? (none / 0) (#25)
by Unregistered Visitors on Thu Mar 18, 2010 at 05:33:25 AM EST

What is all this commotion about?, and what are you proposing as an action?

I hope you are going to be brief and to the point. Time and again, the readers on this site have expressed to others to stay away from properties that the builders have still to build, but people invest in the properties and then cry foul. Unfortunately these people should be allowed to suffer. It is like a woman, inspite of warnings, sleep with a wrong lover and loses her verginity. How others can restore her verginity? May be fubar and you can.

Others can not except showing sympathy.

Cheers!

[ Parent | Reply to This ]

help them or else... (none / 0) (#9)
by Unregistered Visitors on Sun Mar 14, 2010 at 01:16:22 PM EST

If you do not help them they could go bankrupt, and then you will lose your entire investments. Think before you write.

[ Parent | Reply to This ]

Location (none / 0) (#7)
by Unregistered Visitors on Sat Mar 13, 2010 at 04:15:43 AM EST

Is the project before or after the 2nd toll plaza. If it is after the toll plaza, why would people want to pay to go to their home everyday. Either that or the builder gives it at a better rate, for such high rates, probably better to go for other projects which are already ready and better location. Do not forget to add the 2 years interest factor when calculating prices. Most developeres are trying to push as many deals as are possible bfore the next wave of slowdown.

[ Reply to This ]

It is stupid to follow the herd (none / 0) (#5)
by Unregistered Visitors on Thu Mar 11, 2010 at 08:22:51 AM EST

No builder including Emaar is going to deliver in time who are booking now. May be some of the folks will not get their home in next 10 years. I know it sounds very strange but it is going to be reality. The reason is simple they have a backlog of construction of 4-5 years already as many of who booked their homes 5 years ago have not got anything by now.

Also, these builders are just surviving to stay float, the only saving grace for them is prices go up by at least 25% from here which they are trying to do. All the mafia lobby is busy in creating false boom but they are not going to succeed and the prices are going to be same at best or much lower even after 5 years.
Good luck.

[ Reply to This ]

Rush your cheques now (none / 0) (#4)
by Unregistered Visitors on Wed Feb 24, 2010 at 03:28:26 AM EST

Please rush your cheques to your broker ASAP. This is the last opportunity to buy a flat built by an internationally reputed company which has not delivered a single home so far in India.

[ Reply to This ]

Emar :( (none / 0) (#1)
by Unregistered Visitors on Mon Feb 22, 2010 at 02:55:13 AM EST

I think they have not completed a single project in india till now

[ Reply to This ]

Emaar MGF constructon (none / 0) (#6)
by Unregistered Visitors on Thu Mar 11, 2010 at 07:54:11 PM EST

I am a buyer at Palm Drive , at cost of looking to defend the company i will add following

1)Comon waealth games village is complete.

Palm Spring is complete
Their Chennai project is complete
work on my home is moving at good pace ,

So not much to complaint here, for me the glass is half full.

[ Parent | Reply to This ]

EMMR is big time chor. (none / 0) (#3)
by Unregistered Visitors on Mon Feb 22, 2010 at 09:15:32 AM EST

I bought an Apartment from them in their Mohali project and despite paying them full price in advance four years ago, not a single brick has been laid by them so far. So, please stay away from them unless you want to be in similar boat as myself in future.

[ Parent | Reply to This ]

EMMR is big time chor. (none / 0) (#2)
by Unregistered Visitors on Mon Feb 22, 2010 at 09:15:03 AM EST

[ Parent | Reply to This ]

EMAAR PROJECT SEC-77 (none / 0) (#54)
by Unregistered Visitors on Fri Apr 16, 2010 at 07:48:51 AM EST

I would term Mohali as an exception,leave alone Emaar the Army welfare Housing Organisation which functions on no profit no loss basis has not been able to sell its units in Mohali inspite of the superior specifications offered in this specific complex. Mohali is at present in a bad state as far as residential projects are concerned and a builder under a debt burden would rather return your money with interest than commence the project at this period of time.
Emaar has landed in such a gloomy situation due to overstretching their resources in buying land and creating a huge land bank when the price of land was high, much of this land is under litigation also. For sure all the projects of Emaar are likely to be delayed but being a builder of WORLD repute they are not going to compromise on quality. The difference in Emaar and other builders is QUALITY. If you want quality you pay for it.
I have booked a four bedroom Apt with Emaar in Palm Drive,the project is progressing well although it has also been delayed. I am sure that after this project is complete, people will view Emaar differently and the demand for their projects would jump significantly, but by that time the present project would no more be available.
I am based in Mumbai and have heard good thing about how the Palm Drive is coming up, you folks are in Gurgaon, why dont you go and check out what you hear about their quality and decide accordingly whether they are worth investing.
There is too much of garbage in the comments that are being posted rather than a co-operative attitude in advising the person who is seeking your advise.
Lastly, I am not a property dealer instead I am an Army Officer so I am not trying to advertise for self interest.

[ Parent | Reply to This ]

: everything is bad but emmar is good (none / 0) (#55)
by Unregistered Visitors on Tue Apr 20, 2010 at 03:06:48 PM EST

I could not stop laughing after this silly post, emmar is starting projects left and right as if there is end of the world, they are not able to deliver anything is nobody's concern, everything is bad but emmar is good what a way to draw a concluson, this guy is some actual authorised property dealer of emmar

[ Parent | Reply to This ]

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