LOWER PAREL | Indiabulls Sky Suites | 291 m | 75 fl | U/C

[bayvee]

Originally Posted by bayvee

Could restart in 1 month. but don't take out the cakes as yet.

Also saw this morning that the "neighbour" project of DB Crown, has also ignited their advertising campaign for the their project, which is just down the road.

This project, aside form the DB related corporate issues, also had similar parking benefits and seems to be back on track also with three towers under development (yet in a single site).

[bayvee]

Originally Posted by bayvee

Could restart in 1 month. but don't take out the cakes as yet.

Maybe being realistic , re start may work like this -

- IB has lost money on the project already due to the delay (cost of development, land and first 20 floors or so, plus redesign, interest - maybe not much as the first part of the project is funded with equity),so i think the loss is more in loss of opportunity then loss of cash
- Gross margin on the project is however quite healthy yet may suffer a bit because of the delay, yet will be sufficiently attractive for IB to complete the project.
- Premium needs now to be paid on all "frivolous" areas to be included in FSI. So that will now indeed be minimized to avoid additional cost. question of the architect doing a better job than before. Expect large balconies to suffer.
- reduced floors would either come from the parking and or from edging out clients and or from more efficient design of apartments (the old one s had quite some fat in them)

Let us see what will come out in weeks to come.

[Savz]

14-10-2012 IB Sky Suites Update
Copyright@Savz

[bayvee]

in case you are interested, lots of photos recently uploaded on the "sister" side of sky

http://www.skyscrapercity.com/showth...610333&page=22

[bayvee]

Spoke to IB seniors. Confirmed indeed that Sky is indeed formally back on track and that sales have also been re-openened at 30000 Rs basic price. Possession in two years. Sky Suites to follow soon. If we add one more month for that (it will be shorter) plus 2 years as advertised for sky + 20 floors (to reach to same level as where sky is today) @ 10 days this will be short of 3 years for delivery. So my guess, Diwali 2015- Open house !

[bayvee]

no work going on as yet to prepare the suites site. went to visit the sky forest site yesterday as well after i spotted crane movement. good news is that both cranes were operational and looks like the forest site is being prepared for restart. the plastic on the concrete pumps had also been removed and a few workers were painting the concrete bars with black coating.

[dunefreezer]

Thanks for the update dude, we really appreciate it. What I can't handle is that they already ruined Callison's original design.

[BombayPG]

Originally Posted by bayvee

no work going on as yet to prepare the suites site. went to visit the sky forest site yesterday as well after i spotted crane movement. good news is that both cranes were operational and looks like the forest site is being prepared for restart. the plastic on the concrete pumps had also been removed and a few workers were painting the concrete bars with black coating.

Thanks for the update. That will only leave Sky Suites on hold then. Hopefully it starts soon too.

[BombayPG]

Hello Bayvee,

Have you heard anything new from IB on Sky Suites or Sky Forest?

[bayvee]

Originally Posted by BombayPG

Hello Bayvee,

Have you heard anything new from IB on Sky Suites or Sky Forest?

Regrets, in spite of writing and calling, no further updates. SKy next door is going on, yet very slow pace. Seen crane and concrete pump operating in Sky forest (from a distance).

[bhargavsura]

Is Indiabulls on Cash Crunch?

[BombayPG]

Originally Posted by bayvee

Regrets, in spite of writing and calling, no further updates. SKy next door is going on, yet very slow pace. Seen crane and concrete pump operating in Sky forest (from a distance).

Thanks for the update! Hopefully whatever issues Indiabulls is facing are sorted soon.

[bayvee]

Originally Posted by BombayPG

Thanks for the update! Hopefully whatever issues Indiabulls is facing are sorted soon.

A second concrete pump has been installed to cover the large area for the Sky Forest and speed up the work. Believe three cranes are now also at work.

[bayvee]

Originally Posted by bayvee

A second concrete pump has been installed to cover the large area for the Sky Forest and speed up the work. Believe three cranes are now also at work.

further info, went to the site yesterday. the sky suites is still fully locked up and no preparation seems to be in site. the sky forest site is humming with development and has risen , in parts, to about 8 -10 meters above plinth level.

[bayvee]

Spoke to senior sales yesterday. Execution of agreements and new sales for Sky has commenced. Suites will now follow "in a couple of months". Apartments may include ones with and without balcony option, similar to now also offered in the newly designed apartments for Sky upper floors.

[BombayPG]

Originally Posted by bayvee

Spoke to senior sales yesterday. Execution of agreements and new sales for Sky has commenced. Suites will now follow "in a couple of months". Apartments may include ones with and without balcony option, similar to now also offered in the newly designed apartments for Sky upper floors.

Thanks for the update. Interesting that they may have apartments with and without balconies. My guess would have been that Suites and Forest would not have balconies since they will be under the new DCR and not a lot of construction has happened.

Any word from them on Sky Forest?

[bayvee]

Originally Posted by BombayPG

Thanks for the update. Interesting that they may have apartments with and without balconies. My guess would have been that Suites and Forest would not have balconies since they will be under the new DCR and not a lot of construction has happened.

Any word from them on Sky Forest?

From what i understand, they indeed need to resign yet still offer both versions, i think i would be more of an "internal type of balcony or the ones like in Beau Monde (mostly build in, yet front and part corners open). It would not surprise me then that IB will also claim these sqft to be part of the "living" area and not provide the space at the usual 50% discount for balconies (remember, they will now be short of FSI and need ot get maximum money out of each unit)

[bayvee]

it is all attention to small things that may give away the restart of Sky suites soon.

The red concrete pump has been replaced this week. Now why would one do that if there was no intention to start soon ?.

Also spotted lot of sight on the side end in the evening.

Anyone else who has some news here ?

[infra desperados]

Y U NO post pics..

[BombayPG]

Originally Posted by bayvee

it is all attention to small things that may give away the restart of Sky suites soon.

The red concrete pump has been replaced this week. Now why would one do that if there was no intention to start soon ?.

Also spotted lot of sight on the side end in the evening.

Anyone else who has some news here ?

Great. Looks like after Sky and Sky Forest it is the turn of Sky Suites!