Invest 40 Lakhs, get 50 Lakhs within a year. Plaza Pre Launch offer

I just got to know about an interesting offer from one of the reputing growing builders in Chennai, The Plaza group. Plaza group has been in the business for more than a decade and they had recently completed 2 big projects in Perungudi, Green Acres and Serene acres consisting of around 500 homes in total.

Plaza will be shortly starting a project in KOVILAMBAKKAM in south chennai. The project is located very near Kamatchi hospital, Cognizant palikarnai. They are yet to name the project and it is in the final stages of the CMDA approval. Most likely to get started in Feb or March 2008.

I got to hear about the pre-launch offer from them which i thought which would be nice to share to our readers. You need to pay 40 Lakhs and builder gives you a buy back guarantee where in you get 50 Lakhs after an year. What else you get a big 3 bed room flat in your name in the same project with floor size approximately indicated at 1400 -1450 sq ft.

That works out Rs 2700 per sq ft and the price at launch is expected to be around Rs 3200-Rs 3300. The project is on 12 Acres land with all facilities. There is a total of 480 apartments and i feel the FSI is very good. Also there is commercial complex in the project. Water i was told is excellent and there is a big IT park coming up ,next to the project.

In case you are interested get in touch with Plaza. I was told already around 50 flats have been booked this way.


  1. Notr2isoon

    Do you have any more info on this?
    What is the deal?u have to prepay full 40lacs in advance?

  2. wellwisher

    Dont go by this deals. Plaza Builders dont have any professional ethics. This is just a way of making money. I am one of their affected parties who payed the full amount & still waiting for my apartment to be completed. I am the owner of a apartment in Plaza Green Acers at Perungudi. Waiting for 3 years and yet to get my apartment handed over. The due date they promised was 2 years ago. They promised the handover date to be June 2006. Now we are in the end of 2008 and still there are no signs of completion of the project. I think they will take another 2 years. Also the quality of construction is very poor. Lot of air Cracks, leaking bathroom, wrong sloping in bathrooms and balconeys. Lots to say. Dont get lured by builders. These are all just selling strategies. Do you really believe the fact that 50 houses are sold. Far from it. Never book in advance. Always go for completed properties which we can see and decide.

  3. REALM

    I fully suppport the WELLWISHER. I have seen three of their flats in Serene Acres, even before occupying the house, there were lot of air cracks and water leak. They are greedy and no ethics.

  4. Owner

    Please do not go with Plaza, these guys delay the project too much and you will not have a clue as to when the project would be completed. I have an appartment in green acres and till now the road is still to be laid. Also, there had been a major water leakage during rains and entire flat has been in a mess with stains of the leak on the wall and its weeks of follow-up and they come back with the reason that they do not have stock of the paint. Not that its some expensive unique paint they have used. Very unprofessional set of people. Though it is a value for money, they take a very long time and unprofessional attitude. They do not return your calls and they keep diverting you saying that they are the promoters and builder is some one else and they confuse you to the core. My verdict, VERY UNPROFESSIONAL.

  5. Hariharan

    I am planning to buy an flat in Serene Acres. Please let me have some feedback regarding construction quality, maintenance and issues with the dumpyard.


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