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I had received a cold call from one of the brokerage house in June 2014 regarding Palava city developed by Lodha Developers, & in a very buttering manner the brokerage house person explained me about the Palava City plan& sent me the brochure on my mail& asked me to visit this place once even if I am not interested to buy. The brokerage house provided us free pick& drop facility from Borivali to Palava city.
I went there with my family to evaluate the investment plan which were there in my parent’s mind. When we reached at palava a presentation about Lodha Developers& Palava city was presented to all the guest/may or may not be investors were shown to show, Mr. Amitabh Bachchan was shown as Brand ambassador of Palva Groups. Now below is the pros& Cons I& My family as a Prospective Investors found.
From the past experience which I read from blogs we came to know that the projects at Palava are delayed by 2-3 years that too without compensating for delayed possession, even though it is mentioned in the agreement.
O.C: As per law, it is illegal and also not safe to stay in the flat without Occupancy Certificate. Lodha have not provided the Occupancy certificate to the owner who are living at Casa Bello which is totally illegal as per the Law.
More about Brand Name& poor facilities in reality: People invest in Lodha Group plans just based on the Brand Name but in reality the case is totally different. The facilities build lacks quality& many of the residents near by the city already developed by Lodha were facing problems like waterproofing, loose tile fittings, wrong electrical fittings, poor door and window lock fitting etc.
Reality check versus the Brochure: The Brochures which was sent to me on e-mail was showing a lot of promises and features of Palava like Train connectivity. In reality there are lot of discrepancies. The routs to travel towards Powai, Navi Mumbai& toward north& South Mumbai generally faces a lot of traffic problems which is a big concern. If Airoli-Dombivali tunnel project and Ghansoli – Ghatkopar bridge is all set& ready to use, then it will be a place to be considered for living.
Costlier: When we had arrived there in 2014 when the property prices were on declining as there were excessive ready to use flats in Mumbai but no buyers, Lodha Developers where offering the underdeveloped property at Rs.5000 to 6000 per sq. ft, which were too costly for the place which is totally out of city area because in the nearby area of the same city costing 40% less than the cost which Lodha Group was offering. Lodha Developers where charging that money for the Brand Name they had& for the promises which they were making in their brochure. Overall I& my parents after doing few research on the project found that the project is quit costly as I just explained above& there were few problems with respect to O.C, Poor facilities& discrepancies in the promises made to the residents of the Casa Bello property also developed by the same developers. Even though the project which they are making is for Classes& not for Masses, the beautiful Ambiance, Parks, swimming pools, Clubs, & other world class facilities shown in the project plan, we found that it is riskier to invest in the plan for the hard money we have& decided not to invest into it.I would like to rate the project with a 2& a half start as we had a mixed review for the project.