Was looking at this Nova by Raghava project in Financial District because those huge 61 floor twin towers looks crazy on the hoardings. But honestly I am quite confused if it is even a safe bet to put money there. I was checking some things online and apparently this builder hasn't actually delivered any major residential project fully till now? Like everything they started is still under construction, even that Iris project in Gachibowli... actually I think that is also under construction still. Booking in a new launch when there is no solid track record of final possession feels bit risky to me, not sure though.
And that road right in front of Nova is just so horribly congested anyway. Traffic there is becoming total mess. I went that side last week and there were so many water tankers and half built roads right next to these luxury high-rises. Plus they are squeezing so many flats in just 7 acres, the density looks crazy. Carpet area and layout looks big on paper but will we even get decent appreciation later with so much supply coming up nearby? There are literally so many other options from older builders right there. Maybe I am wrong, just what I noticed while looking at some listings. Anyone else seeing this or having doubts?
Moved from Mumbai recently and these Hyderabad prices are catching up so fast it's scary. But at least here you get massive size. In Mumbai 2000 sqft means luxury estate lol. Though the dust and water tanker situation right outside these luxury towers is shocking. No proper drinking water pipeline yet?
What is the current per square foot rate they are quoting now? Last year someone told me it was around 9k but now must be way more. Prices look crazy everywhere in Financial District but people still buy blindly. I am just looking for a decent 3BHK under 1.5CR but in this area it looks totally impossible now. Everything has gone out of reach for salaried folks.
Verified OwnerHonestly bro same doubts here. 61 floors sounds fancy on the hoardings but imagine waiting for the lift in the morning when you are already late for office. 7 acres for two huge towers means too many families crammed in one place. And yeah track record is a big question mark. My colleague was looking at their Iris project and saying they are very big in commercial or infrastructure stuff earlier, but pure high-rise residential handover they haven't done much yet. If possession gets delayed till 2030 or something then your money is blocked completely.
@PriyamRoy I don't see it that way honestly. Raghava is a massive name in infra, they have deep pockets so funding won't be an issue like smaller builders. Plus they are using Mivan technology or something for the walls so speed will be fast only. Iris is already looking huge from the main road.
Verified Owner@Kamal76 Bro Mivan or whatever is fine but traffic outside Nova is already a nightmare. Everyday tankers are parked blocking half the lane. Imagine 1400 more cars coming on that same bottleneck. No infrastructure is being added by GHMC.
I actually visited the site office last Sunday. Layouts are actually quite big, carpet area feels very premium compared to some older projects nearby where loading is too high. But that density thing is bothering me too. 1400 plus units in just 7 acres is a bit tight. I am confused if I should wait for some other new launches in Kokapet or just take the risk here.
Is RERA approved for this?
