Orchid - New Pre-Launch by ND Developers

Published on Feb 10, 2013, 01:20 AM IST
Bangalore based ND Developers have pre-launched their new project 'Orchid' on Sarjapur main road near Sompura Junction. This is the second project after ND around the mangoes in Gunjur, off Sarjapur Road. Orchid is towered over 11 floors in 9 blocks spanning in 4 acres and offers the following configuration options.

2 BHK + 2T - 995 sqft to 1025 sqft priced at
35.89 to 36.83 lakhs
3 BHK + 2T - 1235 sqft priced at
43.45 Lakhs
3BHK + 3T - 1435 sqft priced at
49.75 lakhs.

The above prices include car parking + all other costs except government statutory charges. Booking amount ranges from 5 lakhs to 8 lakhs which we find quite high for mid segment homes.
On the cost break up, the rate / sqft is quoted at
3000, fixed cost of 2,50,000 for car park, 1,75,000 for amenities and generator charges at 30,000. We expect the landed cost to be around 3900 / sqft which is all inclusive.
Orchids is approximately 10KM far from wipro corporate office, 13 KM from ORR - Sarjapur road junction, 12 KM from Forum Value Mall.
Orchid project plans are under approval and the project is expected to be launched by July-2013 and completed by 36 months from the date of launch. ND developers have committed to refund the investor or end-users the entire amount with 12% annual interest if the project is not launched by July-2013.
The builders offer 12% interest p.a. also for upfront payments up to 50% of the basic price.

Here's an interesting conflict point on generator charges. Very few builders quote generator charges based on unit area, which is right from a customers point of view. We think the builders need to justify the price. Let's take a live example.
Mantri Glades charges
50,000 as fixed cost for generator charges for all unit types. The back up power supplied for 2 to 3 BHK flats are 5KW and penthouses with 8KW. From a usage point, pent houses consume more than other units. The end user of smaller units will have to bear more upfront cost. Whereas DSR Woodwinds charges generator costs on per sqft basis which makes sense to the end user.

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