Marg Pushpadrama-30 minutes from Madhya Kailash !!!?
| More good news for budget buyers. Not sure when these budget flats will be completed. But its nice to hear more builders competating for release budget flats. Not sure of other details. Will update once i get to know more. Added a new category Budget Homes for easy tracking. |
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Amazing how distance is defined as a measure of time these days! What exactly does ’30 minutes drive from Madhya Kailash’ mean? It takes 30 minutes to reach Taramani signal from Madhya Kailash in the peak hours!!!
Article from Hindu property plus
Choose the right property
The correction in property market might be encouraging many to think of investing, but a careful consideration may be necessary, warns SRIKALA BHASHYAM
Till 2008, volatility was something associated largely with equity markets. However, property has joined this club and as you would have noticed, prices have begun their downward journey after galloping during early 2008. While the fall was associated with general downtrend and excess supply in the property segment, there has been a reversal in the latter. There has been a fall of 15-20 per cent in property prices across the country and in some cities and locations, it has been higher. Expectedly, this has prompted many to think of property as an investment. While any time is good time for own living, investors need to be extra cautious when it comes to looking at property as an investment option. Even those looking for property for own use, need to be cautious as wrong choice of property can cause a higher damage.
Here are some tips which could help them in choosing the right property.
Closer to completion
If a flat is your choice then go for one which is closer to completion. The liquidity crunch in the financial system has changed the finance profile of many developers and there are few out in the market who have the potential to run long race. Hence, rather than looking for property which is likely to get completed over the next 2-3 years, sign up for a property which is ready or almost ready for occupancy. Not will it solve the problems of uncertainty (of completion of project) but will also give you the tax benefit on your home loans.
Look for legality of the project
The recent developments in the corporate sector have been disturbing for all of us but unfortunately, this is the time for all us to take notice of corporate governance. Besides checking the veracity of your builder or developer, make sure that the property you choose for your living/investments is legally sound. During euphoric days, many have thrown caution to the wind and buyers have ended up with properties which have been sold to multiple owners. Instances such as builders constructing additional floors without proper permission from government agencies were far too many and in some cases, such projects were even sanctioned by lenders. Hence, ensure that your property is approved by necessary government agencies as this can insulate from loss of property if such a situation were to arise.
Potential for appreciation
There has been a growing consensus regarding the capital appreciation prospects of properties on the outskirts of cities with major cities in India getting choked in central business districts. While CBD areas offer better potential for commercial rentals, the rate of appreciation is always faster in newer areas when compared to traditional older areas. With the life of the property typically ranging from 50-60 years, investments will have to be made keeping in mind the age factor too.
As rigtly pointed out in the article, one shd lookout for a property which will be completed within a shrt span (in months)..otherwise, one may end up in paying huge EMIs & finally the refund! after huge mentel agony..
One should visit the site before making a decision, many of my friends just booked in DLF without seeing the site..when i trivelled to the place, i just returned back in the middle of the way as i found that its rather a insecure place & not worth fr the money..Guys pls tnk bfore investing…pls visit the site & chek if the claims are true – especially check if they would be able to complete the claimed project as per schedule!
Are there anybody who booked a flat in pushpadruma.If so,can we start a group in google like Rajparis.
I have booked a lfat 2BhKstudy in early bird offer. forRs. 2009/= now the offer price is 2200/ can any body joined there please keep mailing / gather “dtcp” approval lpending will be ready by may/ “
Hi Sivaraman,
We have booked a 3 bedroom appt. in there earlybird offer.
hai v.saritha welcome to pushpadruma
any news from marg regarding payment of balance amont onelakh plus amount today received the receipt
DTCP approval yet to be received l gather
Hi,
we too got the mail remainding us about the balance payment of 15%.Have to pay at the end of this month.But, I was asking my hubby to get the info about DTCP,CMDA approvals.
hai saritha
glad that u got the remainder from marg’ my self yet to receive it when u r going to pay/ keep in touch bye allthe best
shiva
Hi sivaraman,
Hubby called them today and they were saying that they will get the bank approvals within one week.By the end of April they will complete the 1st slab.(or else by May)
How far is the location from Taramani? How far is it from OMR road? Any weblink to the project details? Thanks in advance
Hi Guys, has anyone given a try for CASA GRANDE RIVIERA which is on Velachery tambaram main road it is just opposite to well known community Jaya chandran Nagar., I came to know their price is 3100 Rs per sq ft.
They are providing all amenties like party hall, gym, guest bed rooms, swimming pool, creche etc…..
Existing road is 60 feet and it will be developed as a 200 ft road.
This apartment is coming on 4.4 acre land and no of flats are 220 and all are almost 3 bed room.
When it is compared with Raj Paris or Purva it is not so interior and no need to travel thru narrow and slum roads , it is just on main road and next to petrol bunk.
I am planning to consider this project to book a 3 bed room flat.
Please let me know pros and cons of this project. I will be very happy to see Ur comments which will give me a opportunity to know more about this project and truths about this project
Regards
hai saritha
today we have received the letter requesting to pay the balance amount on Sunday 8th we r going to pay the amount keep in touch /have a nice day
Hey Shivaraman and saritha
I have booked a three bedroom apartment in Pushpadruma. Have not yet paid the balance of the first 15%. Now I hear the news that their carpet area is much less compared to their competitors. Do you have any idea about this?
hi guys
can any of you tell me about olympia opaline project on OMR road chennai? is it worth considering? the date of completion as also rate per sq/ft as of now.
thanks
srinath
hai saritha
we have paid the 15% on 7th and by email received the draft construction agreement and sale agreement if u desire contact miss Rajee nair/marg please have a nice day
Hey could you give your mail ID.We are still waiting for there DTCP approvals.Called them today and they were saying they got 1 approval and waiting for the second one.Boomipuja was on april 14th.60% of them who booked the flats paid 15% of the budget.We are still thinking whether to pay now are to wait until next month.Thanks for the info.
Bye
Article from hindu Property Plus
Buyers treading cautiously
They want a fair deal and keen to know factors such as carpet area, payment terms and levy, writes SHANTHI KANNAN
PHOTO:S.R.RAGHUNATHAN
Keep their eyes open: Buyers are getting more calculative now and are concerned about progress of construction.
The reality sector in general and housing market in particular had a dream run in the last few years. Increase in salary levels and easy availability of credit helped the turn around. The average age of home mortgage consumer dropped from late thirties to late twentiesWith the IT sector on the rise, investment in the real estate also increased. Apartment sizes, specifications, delivery terms and price band were matched with the boom. But the current economic slowdown has changed the scenario significantly and has forced the home buyers and developers to re-orient their strategies.
New offers
N. Ananthanarayanan, Head REIS, Jones Lang LaSalle Meghraj, says that the buyers are now getting calculative and wants to probe factors such as falling prices of cement and steel, construction cost and reduction in service tax and wants to know how these are reflected in the new offers.
Mr. Ananthanarayanan says buyers are also now examining the actual carpet area that they get in comparison to the area that they pay for. He also points out that today, the buyers are looking at the terms of payment and penalties carefully and wants a fair deal. They ask for compensation for any delay in delivery of the completed apartment commensurate with the loss of income or the rent.
Some have even started demanding that payments be linked to the construction stage, and not make it time bound, as they want cash flow to reflect progress of construction. These demands are strengthened by the perception that they may get better bargains in the days to come. The fact that leading builders including DLF have continuously come out with price reductions has strengthened this, says V. Kalyanaraman, Director, Yeskay Promag Consultancy Pvt Ltd.
With the interest rates starting to come, many prospective buyers feel that it would be worthwhile to re-plan their purchases and wait for a better rate.
Awareness growing
Consumers’ awareness about the developing scenario has increased in recent times and it has become important for the developers to keep the buyers informed. For example in the DLF case, about 150 consumers decided to quit the project as they were not kept updated on development of the progress. The questions raised by them were – will the project be delivered on time, what is the operational model of the club house, practice of selling undivided share of land, comparing prices between DLF’s two projects, funding position and operating cost of the company.
With all these demands coming from the end consumers, DLF needed to rework their approach. They addressed their buyers and explained the situation.
Many big developers, who started constructing mega projects, have begun to scale down and re-design them. They are entering budget housing projects such as one or two-bedroom apartments. The risk is spread by cutting down the unit size.
Plans to construct three to five mega towers are now scaled down and in their place only one or two towers are built. The customers are also re-located within the same development, so that the required built up area could be completed within the committed deadlines, says Mr. Kalyanaraman.
Huge gap
There is a huge gap between the expectations of the buyer and the builder. Today the buyer expects the prices to slide further and is in no hurry to close the transaction. On the other hand builder faces a challenge with their cash flow affected. “Knowing that the demand is still high builders will have to focus on completing projects as buyers will immediately lap up projects that are ready for immediate consumption as long as they are within their affordability”, says R. Balaji, Chief Executive Officer, Propmart.
The bankers too are playing a cautious role. The delay in completing the projects and drop in salary levels concerns them. The financial instutions, who went overboard, are slowing down and exploring new products such as financing second hand apartments.The three factors – customers, developers and bankers, taking a cautious step has only led to a slow down in the residential sector growth. Everyone agrees that the market will bounce back as there is a real latent demand. The key to this is “affordability.”
Hi Mr.Sivaraman,
Can you please let me know what the agreements say about the maintenance fees,UDS land etc….
hai saritha, how ru long time no c. heard marg going to have bhoomi pooja on 14th did u receive the invitiation. they are arranging family bus / ru coming there on 14th / we will come by car / let us meet there if possible /a nice day
bye
shiva
hi sivaraman,
My internet is not working from 1 week so very late reply..sorry abt. that.Actually, we are very interested to come but we have a kid 2 1/2 yrs. old, who sleeps very late in the nite,daily at 12′O clock.So we are so lazy waking up in the morning.I woke up at 6 and asked my hubby to wake up but he didnot.And the baby is also sound a sleep,so I didnot disturb them.
What is the present status of this Pushpadruma project. Can anyone let me know
Hi Sivaraman…
Am thinking of booking 1 flat in pushpadruma…
I do have some clarifications in this regard..and i think u will be the right person to clarify..
Could u plz give me your mobile no…
9884049118
hai,
We have booked a flat in pushphadruma 2bhk+s in 3rd floor.recently we got a message that DCTP approval has been done.please update us on the progress of the construction and let me know if their is any common web site where all pushadrumaitees can communicate.
Hello every one I have just booked a 2 B/R after seeing the approval papers at the marg pushpadruma.
Can some one give me some details of the company’s proceedings in the construction. How sound they are and whether they are keeping everyone infomred on the developments.
my mail ID: khataukarn@yahoo.in.
awaiting some mails with information as I am new to the Pushpadruma family
bye
regards,
shyam
hai vanita
glad that u too become a pushpadruma owner
project A block up to 4 th floor completed
B block 2 floor completed
DTCP approval got
son going to apply for loan syndicate bank i think
keep in touch
commonfloor /pushpadruma is the website u can contact all marg pushpadruma
ok bye for now
Hai,
3rd floor construction started. i wish to any one among here who have booked 1st/2nd floor.do they accept any minor alterations in the floor plan?if so please let me know.bye.
Pushpadruma website is not accessible for last several days (I’m outside India). Is everything OK with their construction ? I’m considering buying a 3BHK apt.
Could any friend in this blog help me with :
1. exact location & distance from Madhya Kailash
2. ground water quality in that area
3. quality of construction till date
I hope the answer for the above queries will benefit a lot of other friends. Thanks.
Pushpadruma is located at Kalavakkam, 4km from Kelambakkam and 28 km from madhya kailash. No issues with ground water quality. Construction quality is being adhered to. 4th slab construction over….
I am interested in Marg Pushpadruma.Is it worth for the money buying there? Please advice me if any issues.thanks
I am also interested in Marg Pushpadruma since the price is very attractive. Please advice whether it is worth for buying? How is the progress of the construction? It will be very useful if you can share your experience and issues
Am planning to book a 2bhk apartment on upper floor (only a few left I beleive)
Would appreciate any info / tips from those already booked in Pushpadruma.
Thanks
Hi, I am looking at investing in Marg property. could you le me know your experience with the project in terms of timelines and quality of construction? Thank you
Last week i visited the site.
The progress of marg pushpadrauma is very slow and i am really worried.
I guess to handover the amenities they mentioned will also take much time..
Have anyone booked in TVH Svasti?
Hi, i also have booked in marg pushpadrum
but the completion is getting delayed
Any idea when they will actully start
handing over.
Hi guys, i own a 2BR flat in B block of Pushpadruma. Recently i met the marketing ppl in perungudi office, and visited the site as well.. It looks like the handover for block B will commence in July. B block will be ready with water, sewage, lift facilities by Sep 2011!! Hope this helps..
Marg Pushpadrama-30 minutes from Madhya Kailash is building from 2009 .Still the construction is not completed .They have very bad relationship between the customer care and project team .Both will never met together .We will get different commitment from different teams inside the marg and you will not see anything happening on time.