Investment in Under construction Apartments at Kollur

[Shekar 341]

Is it wise to invest in under construction apartment projects in Kollur. Completion period is 3.5 to 4 Years from now. If so what is the best price. 

[Gowtham 5,626]

39 minutes ago, Shekar said:

Is it wise to invest in under construction apartment projects in Kollur. 

We looked at few options in Kollur but market situation doesn’t look good.

Kollur is next housing hub for sure.

 

But it is far away from City.

if there is an economy slump, places like Kollur and Mokila will take major hit.

 

Properties which are close to city are safe bet in the current situation.

 

Also big brands can sustain well in these difficult times.

 

if it is a big brand Kollur should be fine.

if it is unknown/new builder avoid it.

[Shekar 341]

The project is Signature Avenues. It is in 6 Ac land with 10 +1+1 Floor construction abt 480 units in total. I stay East of Hyderabad near LB Nagar and do not have much knowledge about Kollur.

 

[shiva 414]

8 hours ago, Shekar said:

If so what is the best price. 

 

Kollur pre-launch options are generally between 2200/- ~ 2500/- depending upon project/builder. Kollur is a very good option. Pre-launch in the current situation is a gamble.

Construction progress can be slow compared to pre-COVID days. Many people I know have invested in different projects around Kollur. All in all, it is a gamble. It is still a good option. 

What is the price quoted?

 

[Gowtham 5,626]

36 minutes ago, shiva said:

Kollur pre-launch options are generally between 2200/- ~ 2500/- depending upon project/builder.

 

I think Shekar question is on under construction properties, not a pre launch. 
Under construction properties will have higher price, depending on the progress. 

 

Agree that Kollur is a good option but one need to tread carefully. 

 

8 hours ago, Shekar said:

much knowledge about Kollur.

 Kollur is a decent option, If you have more budget consider projects in Kokapet. 
Housing is very active in this area. 

[uday 458]

This is one of the forward that I received recently. No information on the project name.

Investment opportunities in a 30 Acre Plus.
G + 14 High Rise Gated Community with All modern Amenities.

Do let me know, if any of the below options suit ur requirements.

Below are the location highlights:

• Just 500 mts away from Kollur ORR Exit 2.
• Located within the growth corridor as site is less than 500 mts from the ORR.
• Reputed international schools in the radius of 4 kms (Birla, Samashti and Gaudium etc)
• 20 minute drive to Wipro junction
• 10 minute drive to Financial district
• Nearby to 15000 apartments being constructed by Telengana state government.
• Narayana junior college is located within 1 km radius

95 Lacs worth 1800 Sft 3 BHK flat @ 27 Lakhs only.

No further payments.

(121 Sq yards Land will be Registered upon payment of 27L)
 

[Gowtham 5,626]

Lockdown offer that I received.

• Luxury flats for sale
• GATED COMMUNITY - HMDA and RERA
• PRE -LAUNCH OFFER
• FREE CAR PARKING AND AMENITIES
• FREE G.S.T and Registration

Location: Kollur(financial district)
No. of floors - g+17
No. of flats - 1250

2 bhk - 26 lacs (actual price -38.5 lacs)
3 bhk - 32 lacs (actual price -47lacs)

*Rs 2499/- per sft including(CAR PARKING, AMENITIES ,GST, REGISTRATION)

location highlights :

• near to financial district -15mins drive
• near to IT companies- 20mins drive
• Surrounded with international schools and colleges

Lock down OFFER for first 100flats only.

[mayank 114]

My 2 cents to the topic under discussion..

Right now, Kokapet IT SEZ is the reason behind this sudden boom in the areas like Kokapet, Mokila and Kollur. Mokila has already got good number of constructions finished, Kokapet projects are in progress where as projects in Kollur are about to start while a few have already started... 

my friend works in the real estate firm and has shared a lot of projects that are going to commence in Kollur.

 

It is always a good idea to invest in prelaunch flats and plots are you end up getting everything almost for half the price by the time the project gets finished.

 

but, there is always a risk factor involved in it. In this case to avoid this, it is better to invest on reputed builders, because of COVID situations.

[Gowtham 5,626]

4 hours ago, mayank said:

Right now, Kokapet IT SEZ

Kokapet IT Sez has lot of expectations. Hope COVID-WFH scenarios wont impact the overall project.  

[sagar 3,861]

Tellapur and Kollur are going to be the residential hubs towards the other side of the city in the future with out any doubt. Only factor that may cause delay is this current co vid scenario and if the IT companies are going to continue or adapt to this WFH culture in the future,  this will lead to an adverse hit to the real estate business.. It is recommended to wait till December and take a call on the new buys as the prices are predicted to fall by atleast 15 percent

[Shekar 341]

Thanks for the feed back. The said property is at foundation level and the price quoted is below 2500 incl amenities excluding GST+Registration. I am planing to visit tomorrow and see actual development. Incidentally my first job was at Kollur in Universal Tiles (now defunct) in 1984. Present Hindalco, then it was Annapurna Foils land was purchased at Rs.25K per acre. 

[Gowtham 5,626]

11 minutes ago, Shekar said:

Rs.25K per acre. 

 

That was crazy

ORR changed the dynamics of Kollur. 

 

12 minutes ago, Shekar said:

I am planing to visit tomorrow and see actual development.

 

Negotiate hard, lot of cash crunch in the market. It is a buyers market. Verify the builder authenticity. 
Take your time before making a decision. Pricing wont go up for the next six months. 

[karthik 704]

On 9/18/2020 at 7:35 PM, Shekar said:

I am planing to visit tomorrow and see actual development.

 

How did the discussion went? Are you planning to invest?

[sagar 3,861]

On 9/19/2020 at 8:05 AM, Shekar said:

Thanks for the feed back. The said property is at foundation level and the price quoted is below 2500 incl amenities excluding GST+Registration. I am planing to visit tomorrow and see actual development. Incidentally my first job was at Kollur in Universal Tiles (now defunct) in 1984. Present Hindalco, then it was Annapurna Foils land was purchased at Rs.25K per acre. 

25k is a crazy number for an acre in that area.. Brilliant. Please do share your review on the project and the best price quoted.. May be a group booking could down a little more..

[chaitanyap 66]

My cousin recently invested in a project called Aaditri Empire under prelaunch in Kollur(full cash at 2399, cash+loan at 2999). Bookings are closed now.

Promotions for this project were crazy. Almost 40 to 50% ads on internet were referring to this project. 

I ignored this project considering the location(almost 10kms from wipro signal) and this being the builder's first project in Hyderabad.

[karthik 704]

Kollur has lot of activity going on. Many new investment options are available. 

8 hours ago, chaitanyap said:

Aaditri Empire

Seen this project, it is good. Only drawback is new builder and hope they will survive COVID impact on housing. 

[Shekar 341]

Sorry for late feed back. I went for the site visit on 20th Sep, 

 

location https://www.google.com/maps/place/SIGNATURE+ALTIUS/@17.4480252,78.2370104,1945m/data=!3m1!1e3!4m5!3m4!1s0x3bcbed900b47d4ed:0xeaad478ddb52184e!8m2!3d17.4498582!4d78.2429055 

 

One gated community of Villas were already in occupation within 100 Mtrs towards Kollur. One more Apartment venture work is started between Villas and this project Signature Altus. DPS School building is coming up within 100 Mtrs.(Construction in progress). Link Road to ORR exit to site is in formation. Present aproach is through Kollur Village and aprox 2 + Kms from ORR exit.  

 

Offer was from my cousin who gave his land for development (1200 Yards out of 6 Acres). He got 6 apartments. His offer form me being relative was Rs.2500 per sft incl of amenities excl GST and registration. Developer offering at Rs.3000 per sft. (Full payment cash) 

 

After much discussion with friends in real estate and construction, decided not to purchase. My cousin was communicated the same yesterday so I am updating today. 

[Gowtham 5,626]

Thank you for the update Shekar. Helpful information. 

[sagar 3,861]

On 9/30/2020 at 5:26 PM, Shekar said:

After much discussion with friends in real estate and construction, decided not to purchase.

Any strong reason for backing out @Shekar? Have you looked out at any other projects in the same area?

[Shekar 341]

On 10/2/2020 at 7:34 AM, sagar said:

Any strong reason for backing out @Shekar? Have you looked out at any other projects in the same area?

I was planning for investment only. At the end what Iearnt is I may not be in position to get rent or dispose it easily. So backed out. Not yet decided on other project.