Concorde Napa Valley project
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I wish to buy a unit in the concorde NAPA valley project . Though the price seems to be a good bargain ,
the project which will get completed in June 2015 is required to collect almost 60% to 70% of cash upfront
( based on payment schedule which requires buyers to give 15 post dt chqs ) in Yr 2013 itself from potential
buyers . They are also planning to using technology whereby they can complete construction within 4 mnths .
So in that case why is there need to pay so much cash upfront . In my view except initial booking amt , some deposit ,
& land registration chgs balance portion should be payable only in yr 2015
Any comments ?????
3 Answers
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Exactly my question too.
For 1750 sq ft built up (land area 30×40) 3 BHK, the cost is 70 Lakh (including registration).
Advantage is – the location of the project, on the main road (Kanakpura).
Is investing 70L in Kanakpura road a good investment? Kanakpura road is not a employment belt like whitefield, hosur road. This being the case, will residential properties appreciate in that road?
Thoughts please?
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Well,
The initial cost goes towards land cost, land development, infrastructure, roads, gardens etc. They also need to pay for approvals, contractors etc hence the cost. I think it is fair, considering the fact that they need to buy material in bulk. They are not constructing exclusive for you.
Take case of appartment. Like wise also they collect per floor rise and cumulative progress, For e.g if you buy for 20th floor then you end up paying for work done from GF to 20th and not just for 20th floor and celing. That is the way it works.
Agee, It is not employment belt. But it is good atmosphere. With bannegutta , saturated, sarjapur in a mess, Mad rush to North bangalore, this is a good choice., With proposed metro up to ashram, makes it attractive.
KP road is being dotted with theme park, nitesh, mantri mall, brigade meadows, etc.
It is said that Harolli, away from Napa valley is an upcoming industrial area. Will take time but i feel good buy for the price.
Any comments from anyone ??
