Deciding upon investing in Prajay Megapolis, Hi Tech City?

Venture Details:

1. Located : Adjacent to Indu FortuneFields after Hitech City MMTS station
2. Area: 21.1 Acre land
3. No.Of Blocks: 23 Blocks
4. Total Apartments:  3200
5. It offers 1, 2, 2.5, 3 and 4 BHK residential apartments

Builder/Venture Backdrop:

1. Prajay Engineers Syndicate Ltd. is a renowned builder based out of Andhra Pradesh
2. It has been in the field for more than 20 years now
3. It’s Publicly Listed as Prajay Engineers Syndicate on BSE, so it’s in business 
4. This is the first high rise township they are undertaking and is going to be prestigious venture for them to showcase

Initial Startup:

1. The first bookings were started way back in around October 2009
2. The price was quoted at Rs. 2250 per Sft
3. The venture was halted due to global downtown and slow real estate activities during that period
4. People booked at this time has been awaiting on it’s take off since then

Recent Startup:

1. Launched Pre-Launch Offer on Ugadi 2012
2. Pre-Launch price quote was Rs. 2700/sft
3. Actual launch price is quoted at Rs. 2835/sft
4. Next price hike is supposed to be Rs. 3200/sft

Disadvantages:

1. High Tension Electrical Lines are crossing by site which can cause various heath issues in children below 5 years of age as well as cancer for adults
   1. Childhood leukaemia risk doubles within 100 metres of high voltage power lines
2. The spacing between towers is very less thus you feel like you are in a squeezed living habitants
3. Location being famous for housing, very fast going to run out of ground water, municipality water supply would become costlier
4. Swimming Pools are split across and are of small size
5. Close to Railway track
6. Apartments value starts deprecating after 10 years of service
7. No good benefits in case of handover delays, they will pay nominal rentals that is Rs. 3/sft that becomes Rs. 2000 for 1 BHK booking
8. Bank interest rate returns are better than the anticipated rentals in the area

Advantages:

1. Location: close to Hi Tech City, Falls under KPHB phase 9, Hi-Tech City MMTS Railway Station,
2. Land owner and the builder are same thus there is no Developer/ment charges
3. Adjacent to Indu FortuneFields
4. Reasonable base pricing
5. Just stated venture and going to be handover in 2014 for 1st phase bookings
6. Good quality of construction by Prajay Engineers
7. Direct Manjeera water supply from GHMC
8. Direct Gas line connection
9. Kitchen comes with readymade platform and cupboards as in model house
10. Good appreciation for cost by builder itself
11. Good response in the market and Faster bookings
12. Free Celebrity club house membership
13. Higher Housing loan interest in the current markets