What about Omaxe Spa Village, Sector 78 ?

[rajrao70@gmail.com]

Hi all,
I'm a little confused about the status of Omaxe Spa Village, in which I have a 1900 sq feet (3+1) aptt.
I went to the site a couple of months ago and saw work progressing at a reasonably good pace. Though we are told that possession is likely in December 2012, mid 2013 seems more likely.
Some property dealers, while showing interest in property in Omaxe Spa Village, say work is slowing down and possession is not likely before December 2013. But Omaxe has raised its prise in this complex to 3,500 per square feet.
Can anyone throw light on the present situation?
Also, everyone says this complex has a lovely location, can tell me what exactly the approach is likely to be finally?

[sunilusa]

Price wise it is a good news. But couple of months back I heard that there is not much premium on the project. I thought this project was sold out because Omaxe had cut down the number of towers from this project (no Sale)
Who are going to buy at 3500 psf

Just a thought

[brandoo]

Guys,
I went in there yesterday and had a word with official who is managing entire construction on the site. As per him within a year project will be ready for the handover.
Progress:
1. Boundary wall is almost completed with iron railing on it. Wall height is approx 4.5 feet (including iron railing).
2. External Plaster is more or less complted (in all the towers)
3. Internal roads: Not started yet.
4. Road between new height and Spa will be 24 meters.
5. Major sector road: Not clarity as of now. in between project and Bhataula village, there is some earth work and leveling work is carried out. Not sure how this will touch the project. If this road is in place, drive to project will be breeze and will be a very good location to live in.
6. Tiles or fitments are all equivalent category not the brands mentioned in the sale agreement which of average quality.
7. Aspen A towers (1600) lift lobby is 8 *32 feet, each tower have two parallel staircase, one service lift and one passenger lift.

bottom line: Project will be ready for possession within a year and half at the max. Lets hope that within this time, sector road is also completed.

Travel Time: I used to different roads: While going I used old kheri bridge and road going to Modern DPS via bhataula village. Return journey was from BTPT bridge. Tigaon road (current road) is under relay. There are two plunge pools in the village (it used to be horrible and still bad but manageable).
From Delhi I used Badarpur Fly Over: While going it took 1 hour for 35 kms. Return journey took 1.15 minutes for 36 kms.

By Pass road: Once we zoom past badarpur flyover, by pass road is more or less complete. Till BPTP bridge there are three traffic signals, more or less 10 crossings (at speed is a bit risky), people cross without minding traffic (will change for better once complete road is operational). One and half Kilo Meter road is really bad due to encroachments and traffic moves really slow and can lead to jam anytime.
Road is 4 lane and not six lane (correct me if I am wrong).

Distance to Bararpur Fly Over: 17 kms from Project via existing road, will change marginally with sector roads but travel time will be 1-1.15 hr depending on which part of Delhi one is commuting or for 30-35 kms.
Upcoming metro will be around 5 kms from the project. I hope there will be TATA MAGIC Grami Seva
Metro ride will also tame almost 70 minutes to reach CP (my calculation: 2 minutes per station and will have some where 30-35 total stations).

[rajrao70@gmail.com]

Thanks for the inputs. BTW the resale price for this project, according to some property dealers, is only around 2,500 per square feet - a good 1,000 less than what the company is trying to sell it for. It is not good news for those planning to sell, but I guess (rather hope) things will change drastically in a year or so.

[rajrao70@gmail.com]

Hi all,
I visited the Spa Village last week and was fairly surprised at the progress both inside the complex and in Naharpar in general.
From what I heard, a couple of towers - Castle B and Castle D - are likely to be handed over by mid-2013.
The painting and tiling work looks set to start. Also, I got the first call from a property agent asking how much I was expecting for my flat. He was quoting some 2,600 per square feet, I told him to alert me when it is 3,000 though I don't plan to sell :-)
The work on roads is also promising, even though it is still the initial stage. For the first time, I could get the sense of how things are likely to be in the coming years - and am fairly positive about it.
I think the wheels are finally beginning to turn and the picture will be a lot different in 6 months time. I'm not saying the place will be developed so fast, but am sure we will be breathing a lot easier by then.
Any other input from anyone is welcome.
Regards, Raj.

[ashishv]

Hello All

I hold a property in GF in sec 78 omaxe spa village i purchased that property in 2010 @1700 BSp and it costed me around 40L(1600SqFt) i have taken a loan of 20L for the same.

I took it on down payment so nearly 35l are already paid and i need to pay remaining 5% at the time of possession and then registry charges.

I stay in indrapuram on a rented property and pay a rent of around 15k + EMI for my home loan which is around 20k.
15+20=35k Montly

Roughly i have already paid 5L of my home loan.

I do not have any cash left and i am looking for a readyto movein property near my working area noida.

though i am getting properties at rate of 65l in resale for 3 BHk but it depends.

should i sell it now looking at the present situation i don't think i would be really willing to move to GF in near future or should i wait untill possession if rates are really belived to shoot??

Please advise hope to hear from you soon.

Regards,
Ashish Verma

[sachdevarajesh1]

Hi,
I guess we will be witnessing next jump in prices (Rs 500 miniumu) when possession is given ie in next 6-9 months from now. Master Road construction work also would had moved to advanced stage by this time. Hence I will suggest you to hold property till this time to get maximum returns. However you are best judge for your situation.

Regards

Rajesh

[rajrao70@gmail.com]

It would be best to hold the property if you can because there will be definitely a jump when possession is given. I feel things will change a lot in 6 months and the difference could be as much as 1,000 rupees per sq. feet from now to then. Regards.

[sunilusa]

Any ideas about the current price for 1600 sq ft flat in this community ?

Thanks
Sunil

[cgd3psg]

Hello All

I hold a property in GF in sec 78 omaxe spa village i purchased that property in 2010 @1700 BSp and it costed me around 40L(1600SqFt) i have taken a loan of 20L for the same.

I took it on down payment so nearly 35l are already paid and i need to pay remaining 5% at the time of possession and then registry charges.

I stay in indrapuram on a rented property and pay a rent of around 15k + EMI for my home loan which is around 20k.
15+20=35k Montly

Roughly i have already paid 5L of my home loan.

I do not have any cash left and i am looking for a readyto movein property near my working area noida.

though i am getting properties at rate of 65l in resale for 3 BHk but it depends.

should i sell it now looking at the present situation i don't think i would be really willing to move to GF in near future or should i wait untill possession if rates are really belived to shoot??

Please advise hope to hear from you soon.

Regards,
Ashish Verma

Hi Ashish,

"A bird in hand is always better than two in bushes". As you are planning to buy a ready to move property around Noida, it makes lot of sense to sell OSV flat now. Though we can expect an appreciation of ~500/- psf in next 6-8 months in OSV, almost similar trend is expected in Noida also. Moreover you will start saving on rentals also.

Amit

[Flat-Deals.com]

Any ideas about the current price for 1600 sq ft flat in this community ?

Thanks
Sunil

A 1600 sft apartment at a 1700 sft booking, overlooking a scenic area (club, greens), will likely fetch you about anywhere between 55-58 lakhs (all incl). This figure is as on 31 December 2012. Happy new year.

Sunil

[sachdevarajesh1]

Hi, I still feel OSV will fetch better premium than Noida.

Regards

[brandoo]

Project will be good place to live in year's time and in two years time when we have infra in place (we are getting there), personally speaking Greater Faridabad will be very planned and good place to live/invest. We as 1st batch of buyers will definitely reap the most than those who will be entering after a year from now.
Hence stay put for some more time say possession/master roads are completed. Ready to move projects will demand more coloured component.

[rajrao70@gmail.com]

So, is it right to expect that offer of possession will start by June? What rate do you think our property will fetch in case we decide to sell it at the time of possession - between June and December 2013?

[brandoo]

Rate will depend on many factors:
Whether builder have stock, yes then builder will raise prices by another 1000 psf. It will also depend on master road, particularly stay portion.
If everything goes as per planning and litigation is cleared, this project will touch 4000 in resale by the offer of possession or year end (keep ur fingers crossed). Builder might sell at 4500 (left over inventory).


NOTE: Moderators please merge all threads related to Spa Village so that members can get everything at one place. Please encourage members to search before starting new thread. I know this is not new thread but would be good if u can merge it with thread running into 13 pages