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FAQ: How is Godrej City, Panvel? – Property Hotline
Posted
May 16, 2016
Views
9,925
Likes
17
Comments
7
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0.24%
May 16, 2016
9,925
17
7
0.24%
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4:30Now PlayingExpert: Ashwinder Raj Singh, CEO, Residential Services at JLL India
Question: Rajesh Iyer had booked a 3 BHK apartment in Godrej City Panvel for around Rs. 90 lakh in 2014. He had paid nearly Rs. 15 lakh. There has been no movement on the construction. Should he stay invested or should he sell it off?
Answer: Godrej City is a 150 Acre project in an area near Shedung which falls on the old Mumbai - Pune highway. This is approx. 11kms from Panvel station. It's going to be developed in Phases. Phase-I is almost sold out with few inventories left for 2 and 3 BHK. They have stopped the sales of Phase I as of now. This land parcel of 150 acres falls under NAINA jurisdiction (Navi Mumbai Airport Influence Notified Area).
Also this is one area where there are a lot of other projects coming up leading to an oversupply situation. Hence my suggestion would be to take an exit, if it is possible. If you are ready to wait then perhaps you can stay invested as Godrej is a very strong brand.
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