How much return to expect from the Pyramid, Navi Mumbai?- PRoperty Hotline
August 22, 2016
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3:40Now PlayingHow much return to expect from the Pyramid, Navi Mumbai?- PRoperty Hotline
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as posted by the channelExpert: Akash Bansal, Director of Liases Foras
Question: I plan to invest in The Pyramid at Panvel Hills in Navi Mumbai. The rate quoted is Rs4,500/sq. ft. Possession is promised within 4 years. It will cost me Rs70 lakhs for 1,200 sq. ft. Please tell me more about the developer. What kind of returns can I expect in this location over the next 4-5 years?
Answer: This project is being developed by Garnet Construction Limited. The developer has 7 ongoing projects out of which 5 projects have halted with no construction activity going on. The developer has total 92 Acres land parcel and has come up with a project "The Pyramid". It consists of 8 Towers consists of total 626 Flats and is in prelaunch stage.
The location of the project "Khalapur" is a part of the Raigad district that borders Mumbai. The area is around 32 km from Panvel while Mumbai can be reached within 45 minutes from here. Builder had launched this project in Dubai where they sold 15 % of stock. Owing to lot of supply in the region and slow sales, this project may give returns of around 20-25% over a period of 5 years or so.
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