Blog about fraud builders in India
More specifically frauds by CLPD, suncity gloria, SJR, Mantri, DLF and other builders.
Tuesday, July 3, 2012
Tuesday, February 21, 2012
Suncity Gloria - What builder is not telling you - appreciation
Suncity Gloria Link 1 Suncity Gloria Link 2 Suncity Gloria Link 3 Suncity Gloria Link 4 Suncity Gloria Link 5
Builder has told many of you that the Suncity Gloria is a perfect case for investment gain. Let's analyse If that is true.
Suncity Gloria was sold at 2500 (after discounts) to people in 2010. Now the rate being quoted is 3000. But when you negotiate the builder is ready to sign the deals at 2800 after discount. Even for selling at 2800/- the builder is spending money on advertisement, marketing staff and commissions. There is no way a buyer can sell at 2800/-. You cannot even sell at 2500, as no one is buying
So how much percentage appreciation have you seen. 12% in two years. A bank FD gives more than 12% in two years.
Apart from that:
1. You have been paying pre-EMI on your payments.
2. The bulk of the money is taken by the builder in first two-three installments itself.
Anybody still wants to convince me or themselves that Suncity Gloria is a appreciating asset.
Builder has told many of you that the Suncity Gloria is a perfect case for investment gain. Let's analyse If that is true.
Suncity Gloria was sold at 2500 (after discounts) to people in 2010. Now the rate being quoted is 3000. But when you negotiate the builder is ready to sign the deals at 2800 after discount. Even for selling at 2800/- the builder is spending money on advertisement, marketing staff and commissions. There is no way a buyer can sell at 2800/-. You cannot even sell at 2500, as no one is buying
So how much percentage appreciation have you seen. 12% in two years. A bank FD gives more than 12% in two years.
Apart from that:
1. You have been paying pre-EMI on your payments.
2. The bulk of the money is taken by the builder in first two-three installments itself.
Anybody still wants to convince me or themselves that Suncity Gloria is a appreciating asset.
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