Omaxe New Heights Faridabad

Posted By indiaspaces . on 09 Nov 2011
Members (144) | Comments (632)

POSITIVES - Low Price, Less Wastage Floor Plans, Reputed Developer, Limited Units 

NEGATIVES - Abnormal Delays, Bank Funding Not Available, External Infrastructure Dependent Location 

OMAXE NEW HEIGHTS, Sector 78, Faridabad is one of the most affordable group housing in the region.

The project had all licenses and map approvals and was originally launched as Omaxe Spa Vlillage.  

Post global meltdown, around 2 years back, company decided to change sizes and relaunch a part of it as Omaxe New Heights. 

Company was unable to deposit the EDC/IDC till 2011 and was paid only in the second half of 2011 which also marked the sanctioning of building plans.

http://indiaspaces.com/down/1353_omaxe_new_heights_.jpg

Meanwhile Haryana Govt increased the EDC / IDC to almost double, something which was not anticipated. Around this time the license of the project has also expired. Now unless the new EDC/IDC is paid to department, the license would not be renewed, sanctioned maps would not be handed over to company and no bank loans would happen.

People totally dependent on bank loans would actually have no choice then to exit the project either by way of refund or resale in open market. 

Company might subsequently sell these flats at higher prices.

It may even ask all other customers to pay increased EDC. For this INDIASPACES had suggested management, that the money should be received in a separate account specifically for EDC only.

Comments
Bloomberg demand - ( Omaxe New Heights Faridabad )
Posted by Rohit 06 Jun 2012
Got demand letter for bloomberg tower, Omaxe New Heights on casting of third floor of 2.02 lakhs.

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ONH Resale - ( Omaxe New Heights Faridabad )
Posted by mkj 29 May 2012
Here is the latest premium information as per 2 leading brokers. 850 sqft : 4-5L 1100 sqft : 5-6L 1350 sqft : 6-7.5L As the construction will progress the difference between these categories will increase. Just fyi, Omaxe heights has following premium: 3 BHK : 23 L to 31 L 2 BHK : 18 L to 25 L My motive behind sharing this info is to make sure that dealers and brokers dont take people for a ride.
OMAXE SPA Village - ( Omaxe New Heights Faridabad )
Posted by sunilusa 08 Jun 2012
Is there any premium on SPa Village too ? Please advise Thanks
ONH Resale - ( Omaxe New Heights Faridabad )
Posted by 08 Jun 2012
I am afraid in absence of any real estate regulation, there are no means of finding out and actual transacted values and and this is something dealers, brokers take full advantage of. As we are diving into this issue, so it becomes imperative for me to quote an example to highlight common person's cause. For last couple of months I have been getting at least 2- 3 calls daily asking me to sell my flat. On asking about the premium I was given a figure of 7.5 - 8.0L (actual figure quoted 2 days back). When I said no, I was told that this is the best premium you could get considering the possession which is about 2 years from now and road to the site is in extremely bad shape. To this I thought of checking up again with the same dealer and this time inquiring about a resale flat. To my astonishment the premium went up by handsome 1.5 L (9.0 to 9.5L) and with in a day the possession date shifted from 2 years to next year June with master road touching the ONH project very soon. The only point I am trying to make here is that people should equip themselves with the knowledge about the rate trend so that they can take an informed decision and get the best returns and preventing dealers making merry at our cost.
ONH Resale - ( Omaxe New Heights Faridabad )
Posted by asha 07 Jun 2012
Dear All, I am posting the premium info on this forum to make sure that people who have been waiting for more than 3 years are not shot-changed by property dealers and brokers. Also the figures given by me earlier were based on new psft rate fixed by Omaxe and correct to the best of my knowledge and based on numerous discussions with so called agents. Here are the calculations. Launch psft price : 1800 Soon to be launch psft price : 2700 Transfer fees : 50 psft Brokerage : 50 psft Effective resale psft rate : 2700 - 50 - 50 = 2600. Due to upfront lets deduct 50 psft which gives us a rate of 2550 psft. So the premium = 2550 - 1800 = 750 psft. For 850(2bhk) = 750*850 = 6,37,000 For 1100(2+1) = 750*1100 = 8,25,000 For 1350(3+1) = 750*1350 = 10,12,500 So this shows the figures given by me earlier is very much inline with the calculations based on actual and true psft rate. So all the people who are wanting to sell their ONH units, please keep above figures in mind while dealing with brokers and dealers. Once Omaxe launches the remaining flats in a day or two, I will post the actual psft rate. Thanks - Amit Jain
ONH Resale - ( Omaxe New Heights Faridabad )
Posted by mkj 07 Jun 2012
Omaxe is launching remaining flats in ONH on Monday @2700 psft (+- 20 Rs). Unfortunately, the completion time duration for these flats is 3 years from the agreement date.
ONH Resale - ( Omaxe New Heights Faridabad )
Posted by asha 07 Jun 2012
Latest premium info : 850 - 5.5 to 6.0L, 1100 - 7.0 to 8.0 L, 1350 - 9.5 to 10L

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ONH Resale - ( Omaxe New Heights Faridabad )
Posted by Praveen 27 May 2012
Hello Arrhan, It is true that no property dealer will ever tell this insight for the obvious reasons and I thank you for sharing this important information on this forum. I am sure all will get benefit of this info. Thanks to indiaspaces as well. Praveen

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ONH Resale - ( Omaxe New Heights Faridabad )
Posted by gupta36a 26 May 2012
My friend went to ONH site today to inquire about a new flat. As there was no one in the site office, the guard gave him number of sales executive (Himanshu). My friend had a very long discussion with Mr Himanshu and was told that ONH is launching remaining(10%) flats at 2700 - 2800 psft in the first week of June. ONH is 100 mtrs away from Master road and is easily walkable. Mr Himanshu told him that the moment Master road touches 25 Mtrs Omaxe road the rate would touch 3500 - 4000 psft. On construction front: All towers have touched 5 - 6th floor. Every tower has about 10 people working in parallel. I feel all the people who are still holding on to ONH flat should continue holding them as the prices are bound to jump after 1st week of June when Omaxe launches flats at new rates. I am sure no property dealer will share this info with the prospective sellers.

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Buy 1350sq ft - ( Omaxe New Heights Faridabad )
Posted by 26 May 2012
I am interested to buy 3BR+S, Please let me know the budget i should have.

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Required 3BR+S - ( Omaxe New Heights Faridabad )
Posted by HARISH KUMAR SHARMA 25 May 2012
Required (1350 Sq.ft.) Residential Flat in Omaxe New Heights Faridabad Budget 30 Lacs. Click Here For Details
http://www.spacesellerz.com/Property_Details.aspx?pqid=4937
ONH Resale - ( Omaxe New Heights Faridabad )
Posted by Praveen 27 May 2012
Hello Arrhan, It is true that no property dealer will ever tell this insight for the obvious reasons and I thank you for sharing this important information on this forum. I am sure all will get benefit of this info. Thanks to indiaspaces as well. Praveen
ONH Resale - ( Omaxe New Heights Faridabad )
Posted by gupta36a 26 May 2012
My friend went to ONH site today to inquire about a new flat. As there was no one in the site office, the guard gave him number of sales executive (Himanshu). My friend had a very long discussion with Mr Himanshu and was told that ONH is launching remaining(10%) flats at 2700 - 2800 psft in the first week of June. ONH is 100 mtrs away from Master road and is easily walkable. Mr Himanshu told him that the moment Master road touches 25 Mtrs Omaxe road the rate would touch 3500 - 4000 psft. On construction front: All towers have touched 5 - 6th floor. Every tower has about 10 people working in parallel. I feel all the people who are still holding on to ONH flat should continue holding them as the prices are bound to jump after 1st week of June when Omaxe launches flats at new rates. I am sure no property dealer will share this info with the prospective sellers.
Buy 1350sq ft - ( Omaxe New Heights Faridabad )
Posted by 26 May 2012
I am interested to buy 3BR+S, Please let me know the budget i should have.

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ONH Resale - ( Omaxe New Heights Faridabad )
Posted by gupta36a 18 May 2012
For 3+1 the premium is 5L plus initial discount, my friend bought a flat last month.

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Resale value - ( Omaxe New Heights Faridabad )
Posted by san12ast 17 May 2012
What is the current resale rate in this project, is this project good for investment?
ONH Resale - ( Omaxe New Heights Faridabad )
Posted by gupta36a 18 May 2012
For 3+1 the premium is 5L plus initial discount, my friend bought a flat last month.

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ONH - Empire - ( Omaxe New Heights Faridabad )
Posted by mkj 17 May 2012
3+1 (1350 Sqft)

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ONH - Empire - ( Omaxe New Heights Faridabad )
Posted by mkj 13 May 2012
Good to know the construction pace and hope it will continue at the same pace till the end, no wonder the premium has catapulted in last one month. As far as roads are concerned, the situation will drastically improve once all sector and dividing roads are complete.

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