Booking Plot with Parsvnath Developers Limited

[San Yad]

Hi!

Parsvnath Developers Limited has acquired the land for building the house in my nearby city. Omaxe and Suncity are already there. but Parsvnath Developers Limited has acquired the land next to Maruti future industry and other Industrial area development. These are already announced.

First I need to pay 15% . After allotment 20% and so on..

What you guys suggest? Should I book the plot with Parsvnath Developers Limited for investment.

Please express your views about this company. Thanks.

 

[JPR]

In my experience the brand name of any developer can only serve as a pointer for the quality of construction (if there is a building involved and not just a plot).

As to whether the real estate investment is a good one or not will depend on:

1. location in terms of access, proximity to city centre, office areas etc
2. potential for development in the immediate future
3. and MOST IMPORTANTLY the legal soundness of the paperwork for the property

I have had negative experiences on all three counts with some of the big names in the business and hence feel that its better to assess on these factors rather than go by just the name.

 

[San Yad]

In my experience the brand name of any developer can only serve as a pointer for the quality of construction (if there is a building involved and not just a plot).

As to whether the real estate investment is a good one or not will depend on:

1. location in terms of access, proximity to city centre, office areas etc
2. potential for development in the immediate future
3. and MOST IMPORTANTLY the legal soundness of the paperwork for the property

I have had negative experiences on all three counts with some of the big names in the business and hence feel that its better to assess on these factors rather than go by just the name.

Thanks for your input .. I am not sure but I think they alot the plots and will give the notice to build their home with their own according to the map given?

Location-wise is bit far from city but very close to industrial area.

Potential of development depends on company That what I wanted to know whether this company has potential or not or just allot the plots and run away with money.

I did not get the legal soundness of paperwork?

 

[JPR]

When I said potential for development I meant, how the locality is shaping up in terms of infrastructure like roads and other civic amenities, whether there are other upcoming residential projects in the neighborhood and so on. This aspect is to some extent a function of the location and would determine the appreciation in value that you can achieve in future.

By legal soundness of paperwork I meant looking into things like:

• Whether the necessary approvals have been obtained from relevant government bodies
• Whether ownership of the property that will be registered to you is foolproof

The list of specific things that you need to check on both these aspects is a lengthy one and will also depend on the city in which you are planning to buy. It would be best to look for a good lawyer of estate law who can guide you with this.

 

[San Yad]

Anyone is living in Parsvnath Developers Limited posses houses?

Please share the charges or or any kind of expense after start living in such private owned house.