Alliance Orchid Springs -1 BHK 17 Lakhs- Anna Nagar Extn
Tue, 7 Feb 2012
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It would be good if they have the completion date too. Also, I don’t understand this first 150 bookings. Why not have it consisent for everyone.
i think its not really worth in that area , only time can tell
this advertisement property with out approval from the competant authority becareeful before invest one lakhs already in problem in this project dont invest with out seeing ythe approval drawing
any thoughts on this? Have anyone approached this builder? how to ensure this plan is approved?
Well what Kuttu says is correct, and when are they getting the approvals and when is the project approval. How can a builder give 45% discount? Guess it must be a marketing stratergy of over pricing and then giving a huge dicount, seems like they needs fund very badly!!
Project is without approval. Completion date is sometime in Jan 2012. 19 blocks of 19 floor buildings with first four floors in each for car parking.
There is a shocking and surprising news for everyone.In Noida buy 1 get 1 Flat (28lakhs-780sq feet)
Buy a Duplex for 65 lakhs ans get mercedez BENZ free (offer for everyone).so wait for 3more months to get these offers in chennai.
Good luck guys.
To clarify search in google.
chennai real estate hasn’t corrected much yet.. there is still lot of room for correction(especially when compared with other metros) and between demand and supply. with satyam issue even people with money will be reluctant to put into real estate.. in 3-4 months i am expecting 10-15% drop from current levels..
“Buy a Duplex for 65 lakhs ans get mercedez BENZ free” ; This is later found to be true for only the first few deals; And this advt generates sufficient mindspace among potential buyers; It is also true that correction is very mild in Chennai. Bangalore has had the biggest crash, Mumbai and Chennai are relatively unscathed. But some corrections are being seen only in new projects and only projects in outskirts… A much more fall can only benefit for people like us.
Why cant government form societies and allot houses after people go though a waiting phase. I have seen it in Noida for residents. If they can demonstrate quality at reasonable price, it can force a lot of smaller players to sport realistic sticker prices!!
And I feel one need not panic and jump in…. IT companies have started giving hints of pay cuts and layoffs if required. And if one more quarter and if we see US economy does not tuen around, there could be a ripple effect in Chennai real-estate market.. I wish I see a genuine 20% more reduction.
Look at quarterly numbers from real-estate groups. They are stuck by project financing. They are still making profits… albeit a reduction when it is compared to last year;’s same quarter… they will resort to more cuts for sure in 2-3 months
Tough times comes for everyone when economy faces a turmoil..inculuding greedy realtors..although people dont want them to suffer…what they want is a “realistic” price for the properties..
As correctly said, its NOT a time to jump in as economy is gng to weaken further..i ve been to UK recently & could see the very impact of economic crisis in terms of shop closeouts & unforeseen job cuts..When job itself is under threat..who will look out in investing fancy projects..Reality is our ppls affordability limit is much lower than the prices seen around..as everything, things will correct OR will be corrected..better to stay away for 2009 as it may go unpredictable in terms of everything including our breadwinnning job!
Yes Mohan, i too have the same feeling, chennai is a long way to correct itself
Is anyone on this forum an expert in Real Estate? I still don’t understand why people keep forcing their opinion on others when they themselves have half knowledge.
Indian Real Estate Market is driven by Domestic Consumption. Real Estate is not like stock market that one keeps expecting a fall all the time. Ofcourse there is price correction in markets where the prices where hyped up like Bangalore. Chennai has not been an hot market at all. Only those who have hiked up prices exhorbitantly will cut down like the recent DLF price cut.
Ofcourse, one should use common sense when they are comparing various projects. A project coming up some 25 kms from Madyakailash and a project comming up in the city, the prices are just incomparable.
Lets also understand, Indian Real Estate Market is going through a correction mode and it would be foolish to keep posting ones limited knowledge on common blogs like this. If in doubt, one needs to go to the company and ask them all the relevant questions, instead of relying on these blogs.
Does anyone understand the consequences of these comments, which are baseless and there are no facts to support? If the Indian Real Estate Industry collapses then there are 200+ ancillary industries that will die and imagine the kind of job losses and a slump the country might get into. Before trying to influence people on public forums please thing twice if you are doing the right thing. If you don’t have any proof to substantiate your comments. Then please stay away from making expert comments/opinions.
Pooja its the same common blog that you are coming to get a feel on whats the current trend. I don’t agree with you. chennai market is much hyped up and correction thats happening is still atleast a yr away to stabilize. even in city flats are going for 1C + do you think a manager of non it company can afford it. Real estate is like commodity trading
see what happened to oil price when demand was hyped up it touched 147 a barel and at that time no one believed it will come down . with less demand now its about 40$ a barel. similarly when demand is very high real estate prices where going above roof and speculators playing it now since it has started cooling no speculators are around in the real estate market. the current buyers are just who want to enjoy their living in their own home. they will buy only if its affordable for them. its basically a supply and demand scenario if speculators are out of the market then demand will be very less.
Some places in chennai are much more expensive than in US metros and at it cannot withstand at that price for long.its all supply ,demand and affordability.
Roughly 1 crore appartment monthly payment will be 1 lakh+ and only people who wants to stay and enjoy their own home are in the market. all speculators are out now. so definitely a correction is in the making. take the case of US house market its correcting at 20% per year but thats a worst case scenario.Its like anyother commodity based on supply demand necessity it will Vary.this down turn is good for geninun buyers. Speculators and gready real estate companies will be out as the cyclic correction happens. this is to educate the uneducated buyers whom companies where taking for a ride till now.. take the case of DLF people paid close to 95% still construction hasn’t started, also the builders agreement are all one sided. if you make a delayed payment by couple of days they charge 18% interest whereas they are delaying for yrs their completion . can you tell the projects that started after 2004 completed within the promised time. i even see some facilities missing when you compare the brochures and final delivery. this will make builders to adhere to some basic ethical values
Any update on this project??
Any new updates on Orchid springs ? Paid in full and now scratching my back
Every time i call they say, ma’m we will send update mail next week but no mails so far. They keep on saying it will approved in next 45 days. its been 4 years .
Last time i checked , in dec 2009, the marketing manager said the CMDA guys are ALL gone for vacation and wont come. It will be in jan end, february
I thought it was a right investment for my old age,but now?
Hello,
I want to buy a property in Chennai and was looking at Orchid Springs as a potential project to invest. Do you think it is a good idea? I have read the comments here, called up and enquired and they say that they are expecting the approval by April/May this year. Does anyone know about that area? Is it a nice area? It is an industrial area? Is the ‘lake’ clean or more like a polluted smelling pit of water! Sorry about all the questions, I am totally unaware of Chennai and nearby areas. Also, has anyone invested here? Thank you for your reply.
Hi, I am looking to buy a flat/apartment in chennai. If you have booked a flat in the project can you pls. suggest me regd. the price, completion date, builders trustworthiness and service quality etc. I am new to chennai so any suggestions are welcome on other projects in chennai too.
Thanks & Regards – RJ.
The Orchid Springs updates are 17k has now become 24.73k for 1BHK without a CMDA Approval. Still they are aggresivly making bookings for all flats and commiting that they will get CMDA approval by May/June’10. We also were planning to book a house there, but after readings the above comments, we are afraid now. Can I know how many years have passed since Orchid Group are trying to get CMDA Approval.
Hi, whats happening with Alliance Orchid Springs. Heard their client interaction involved police intervention and there were a lot of angry and agitated customers. What would be the status of the money paid so far ?
Hi All ,
My Brother is also one of the investor for the Orchid Springs project at Alliance. Recently there was a meeting at Savera Hotel which turned out to be a big seen as couple invesrtors started to shout and called up the police. I would say that we waited for all these years , why dont we wait till may – july 2010. The Alliance builder should quickly start this project as it was brought to the lime light.
Also please let me know if anyone else have invested on the same project.
hello friends,
i have invested my hard earned in this project. do any body know about the real progress, is there any forum for claiming the money back from the builder.if anybody has any idea help me by disclosing the forum contact details. i will join and strengthen the forum.
Even I have invested. Now they are mentioning in their mails that they will have approvals by 15th August, who is to believe,from 2years they are saying this…none of the talks are worth to listen…all lies..where we are stuck with our hard earned money..>Bunch of jokers in the office. From 2 years I am not able to get appointment to meet thier directors..hope they are richer than Bill gates or busy like Narayan Murthy…they are not infosys guy to mention as if they have done up whole chennai projects…first project that tooo this mess wiht cases and delays…i am stuck till how long I have to wait for handover whether I will be alive or not i dont know..i have lost 10-15kgs only due to this money whch is worthless investment…should get the director/md, will bash him straight on his face…he will forget the whole world…….
I feel sorry for so many worried folks here.
My brother lives in korattur, i will ask him to drive by and see the status, may be take some pics.
AFAIK, this is not anna nagar, this is beyond the padi junction road. but should be ~10-15 mins drive to anna nagar and ~20~30 mins drive to ambattur estate IT park (India land etc..)
Hello All,
We had booked a flat in orchid springs, in the initial advt., located in Korattur.Though there has been much delays and after a long wait, Now alliance have got the approval (G.O.) for the master plan and around August 16th 2010 they are going to get the floor plan approval after which they are going to start the construction by end of august…or thats what they say..Project tentative completion date is dec 2012 though there would be some delays, we can expect our flat to get by June 2013..I guess.
Alliance always advertise orchid springs location as Anna nagar extn and do not mention as Korattur but I guess..this is a marketing technique which any builder would use to draw public to book flats….and there is nothing wrong in it.
However, if u c the location, it is in main 200 ft road very near to padi fly over
Bhoomi pooja has been done and with God’s grace i strongly beleive that soon we would get our completed flats…
this project is actually good for peopel near that area , but its going to take atleast 3 to 4 yrs to finish.
ALLIANCE ORCHID SPRING : BUYERS BEWARE
Found this on the web and pasted it for info-
Alliance Builders,Chennai
Location: Chennai, Tamil Nadu, India
Posted: 2010-08-30 by Nachiappan M Send email
Lack of Transparency.Holding of Interest free deposits and ‘progress payments’
Alliance Builders started colecting deposits for their proposed project called Orchid Springs in 2006(in Anna Nagar Extension-on the way to Red Hills).They were dragging the project citing reasons of non-approval of design etc by the authorities.Later in 2009 they advertsied again in a different project name and collected finds from new investors.The old investors were requested to pay additional amount and ensure allotment of apartments.
Even now, the funds(received from many investors) are being held by the company on interest free basis,with no sign of progress.
Their other project Bouganville for construction of villas (in Porur,Chennai) also have similar stories.
I wonder if the investor has any protection for his hard earned money, with such builders who collect huge amounts of cash which are interets free.Is there any authority in the country which ensures that the proposed projects are built and handed over to its investors.Or is there any law which protects the individual investor.
——————–
Fully agree with this artlcle, Alliance properties have been merrily taking people for a ride and this is not with the Orchid springs but also their other project in Bangalore Eldorado, I have recently come across a news paper report about a cheating case filed by an NRI couple on these guys…
http://www.deccanherald.com/content/84541/realtor-gets-notice-cheating-nri.html
Alliance orchid spring location and price are no doubt very attractive and herein lies the Trap for the unsuspecting buyers.. Exercise utmost caution. Obtain a copy of the agreement and get it checked with a lawyer, even BEFORE YOU PAY THE ADVANCE. You will find the agreement to be totally one-sided and completely in their favour. This is important considering the very bad reputation of Alliance properties.. All their projects have seem to have exceed 3 to 4 years. It also important to read what the existing owners have as a feed back.
http://www.commonfloor.com/alliance-orchid-springs-chennai-review-feedback/pcrf-r5v4w2
http://www.commonfloor.com/alliance-el-dorado-park-bangalore-review-feedback/pcrf-d6k37k?query_id=4c52fc92afc64
ORCHID SPRINGS- INVESTOR TRAP:
I will not trust these guys. many serious reports on their trustworthiness. All their projects are delayed inordinately. They seem to have a consistent payment problem with their building contractors (and not reputable ones either) and as a result all their projects have this fantastic delays. What more they have not even refunded the money to many frustrated customers who had canceled the booking long back….DO YOU WANT TO PARK YOUR HARD EARNED MONEY WITH THEM????? NOT ME
Dear all,
A close friend of mine has made a booking in Orchid Springs, I am also planning to do so …after reading all your comments, I am now totally confused ???? what do you suggest go ahead or drop the idea ?
Regards
Sharanya
Recently saw an ad that it is CMDA approved. certainly, it will take 4 years to finish
i am intrested to buy tis apartment pls send details for me
I had paid in full four years back. I have been asking for a refund of money for the past 2 years; After much pursuation, they gave me back the cheques which are all bouncing. They never return phone calls and it is one of the worst experience to deal with this builder. Strongly advise anyone to stay away from this builder
Hi all, Happy news that Orchid Springs got CMDA aproval and they started the work. I hope by March the first five blocks foundation will get compleate and they will give possetion as per their comintment. I paid 40% and now they are asking for foudation amount, which is shows that how fast the work is going on. This is the right time to invest or Buy our own house in Alliance Orchid Springs. Dear all pls dont loos this chance to make double your money. You can mint very good apriciations in few month, once the project reach first floor level.
I am planning to buy a flat in Orchid Springs site, Now the work has been started at site and the SQF rate also increased. Is it worth to buy this property now. Can I know the builder trust worthiness.
Yesterday I have visited the site and the tower 1 piling work has completed and other towers piling work in progress. They promised to handover the position on Dec 2012. Have anyone seen CMDA papers which got approved on Aug 2010.
Please suggest.
Please don’t buy this. I had very bad experience with them right from the day I booked the apartment. They never showed any documents to me and keep on forcing me for making next payment. Then I thought of cancelling it and asked for refund. They keep saying next month, next month like that. I heard a news that they are in loss and going to close the business. So be careful guys. Don’t book with them. I don’t know how I am going to recover the money from them.
hi friends..
i have just booked a flat in orchid springs.i paid an advanceof 4% of total cost.shall i advance or retard back.as friends give me a good advice.
Before buying any property, please check whether the property has any legal problem. Please take EC in the register office against the survey number.
Reg Alliance orchid springs, heard from unknown source that, they have taken multi crore loan from multiple vendors against the property. Not even single Nationalised bank ready to disburse the loan amount because of this problems. Please check the reason with the banks why they are not ready to give the disbursement amount. If you have any doubt in this, talk to alliance and get the documents and consult lawyer for legal verification. Investing in Alliance is like putting your legs in snake’s head.
Guys beware of this property. i have booked and paid 40L so for and they looking for 65 to 75% money. but have not completed the foundation as its stated in the schedule. Me and others got in to a mess. there are lots of other good once to consider than this one. I am wirting this as i am going thru this mess. Alliance project sucks.
I am interested in buying a flat in this project. However, reading your comments has made me wonder. What is the latest update?
As I am out of the country I cannot visit the site personally. So would appreciate your feedback.
When is the realistic expected delivery of flats?
I booked a flat at ORCHID SPRINGS which ALLIANCE said was 1220 sq feet.
After 3-4 months, they sent revised layout saying now the total sq feet is 1336.
However when I calculated the dimensions for both old and new layout, I find the increase is JUST 2 SQ FEET while they are charging for extra 116 sq feet.
All current buyers, I urge u to check these, and if u have received a revised layout, write to them asking them to justify the extra charge for the NON-EXISTANT additional area.
regards
thyagarajan
i heard that the completion date is around 2014
last month i book the flat in singapore property show.i readig the comments totally confused about the project.please clarrify me
any update on this project?
Dear Brothers,
Please see the following website link of Alliance principal members arrested http://www.youtube.com/watch?v=BWCM3rlY3rE
Do you still wanted to invest in them?
Is the project genuine? Are people working on it? I have booked one too.
I have booked a flat this month in alliance orchid. I visited the site personally. New approach roads were found laid. Foundation works were in progress. Negative comments are confusing me. I got the copy of CMDA approval.
I agree to many of the above comments (Especially by Mr. Nath). Please consider before investing your money – Murali, Singapore
I had visited them in the mid of 2008 till 2009 thrice, the guys were only intersted in CASH not even other instruments. It looks they have never seen money !!!! I had bought another project and am moved in too.
I saw now they are asking for 4000 and says furnished!!!!!!!!!!!!!!! Is it worth investing??? I remember the lakh was with mud water some years before…now how can it become sweet natural water???