Lavasa - The Hill City
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Printed Date: 19/Apr/2025 at 3:31am
Topic: Lavasa - The Hill City
Posted By: Monkey
Subject: Lavasa - The Hill City
Date Posted: 03/Jul/2010 at 11:35pm
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Anyone has idea on Lavasa city being developed near Pune? Based on information on their website, project looks very ambitious. How about progress of the project, Management's track record in fulfilling their commitments and whether price is worth paying? Seems quite expensive at Rs. 80.6 lacs for 3-BHK duplex Villa with 2925 sqft of land, 2390 sqft of construction with 1739 sqft carpet area.
May be better to wait for property bubble to burst?
Hope topic is not inapproriate for TED.
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Replies:
Posted By: genieinvestor
Date Posted: 03/Jul/2010 at 12:33pm
| The project is developed by HCC and it has a decent track record which it comes to huge projects. |
Posted By: barla
Date Posted: 09/Feb/2011 at 11:50pm
| HCC goofed up on the bandra worli sea link and now again on lavas. But then the Chairman flys aroung in a helicopter becuase comuting to and from lavasa for him by road is difficult. I think everone now knows of lavasa |
Posted By: rapidriser
Date Posted: 10/Feb/2011 at 3:56pm
I have not been there personally, but friends who have been there say that the project is a long way from achieving critical mass in terms of number of actual users as opposed to speculators/investors.
One of the reasons is that their property prices are perceived to be unreasonably high considering the location of the project.
Also the recent order by the Ministry of Envrironment to stop work because the project violates environmnetal norms has been a big negative.
Overall, it is a very ambitious project fro HCC, and only those with very high risk appetite and very long investment horizon should invest here. this one is not going to give returns any time soon.
------------- When all else is lost, the future still remains. - Christian Nestell Bovée |
Posted By: barla
Date Posted: 10/Feb/2011 at 4:26pm
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just curious. when HCC put up the sea link, there was a big delay and they got rs 1200 crores though the original pice as per the tender was 300 crores.
In Lavasa for the delay that is happening, in case an indivdual is booking a flat/apartment and there is a delay, what happens to the escalation cost.
Also are they giving any compensation for the delay.
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Posted By: mayekar
Date Posted: 10/Feb/2011 at 6:48pm
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LAVASA for investments if for the RICH. An apartment could cost you per sq ft upwards of 3200+ Bungalows start 80-90lakhs+ they plan 7 hills, they are not though with the 1st. Imagine spending that money for a weekend home. You wont be able to get any/much rental from any of your investments. Most of the commercial places like schools, hospitals, etc coming up in Lavasa should/will have their own accommodation( at least initially). |
Posted By: us121
Date Posted: 11/Feb/2011 at 8:03pm
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i had been there about 2 months back.
it is a huge project whIch can be termed as 'WORK IN PRROGRESS'
At present owning property there seems more like a status symbol by parking your 'for sure extra' money.
Choice for Teddies is like buying diamond or Titan?
------------- ABILITY will get u at d top. CHARACTER will retain u at d top |
Posted By: barla
Date Posted: 11/Feb/2011 at 10:16pm
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It may become a ghost town. If it remains an exclusive 2nd home destination.
With students it will have some activity. Otherwise nothing there. Wonder how it will all end.
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Posted By: anthro
Date Posted: 11/Feb/2011 at 11:48pm
| was there not allegations on pawar or family holding stakes in lavasa at some time and about hasty approvals etc ? this shadow ( as evident in the way HCC stock has reacted to Pawar's alleged closeness to the company ) may well ensure that the lavasa ipo will not so easily see light of day ? |
Posted By: numcru
Date Posted: 11/Feb/2011 at 7:38am
It has been said that Mr. Ajit did not think there was a necessity that such a project would need Environmental clearence. He just started work on the project. The Central Government has no clue as to what is happening within the country.
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Posted By: studentoflife
Date Posted: 11/Feb/2011 at 8:12am
Going by real estate prices in Mumbai,that is very cheap..  ------------- First step towards learning is the realization that you do not know anything. |
Posted By: barla
Date Posted: 12/Feb/2011 at 2:50pm
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in mumbai people stay or rent. In lavasa niether is going to happpen.
it is a self contained city. no one knows how much will the maintainance come to. even the roads will have to be paid for by the resdietns.
sharad pawars son in law owned a stake ealriert. they claim to have sold it.
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