MARINE DRIVE | Dewa Pier20 | 23 fl x 2 + 27 fl x 5 | Under Construction

[ttand3t]

Dear Mr.Vandana.Ranganath,
I had send your post to DEWA but I did nt get any reply from them yet and hence I am replying with whatever knowledge I have.


Dear Mr/Ms. TT & 3T,

From the sentimental reply to my review, any one could make out its either the promoter itself or management representative of the company replied. Its funny that its considered as a competitors review..lol
I have already replied in my previous post who I am and that I have no connection with DEWA.

As you were keen to defend my review please extend your service to reply to the following queries which you ignored intentionally:-


1) Great that you agreed Dewa Pier20 project do not have approvals from Ministry of Environment. Its surprising that you replied, its required only after construction of structure. If so why certain prestigious projects including government of kerala's including vizingam port, Intl. Cricket Stadium, Hydro Power project near athirappally etc is on wait for clearance from Ministry of Environment?? Is the rules not applicable for your company?
I have already replied to this remark in my earlier post. Sahara Grace,Choice towers,Baypride which has completed construction has not received them yet. This a residential project and not a cricket stadium or a hydro-electric project.


2) If your company have solid financial back up why it went for project funding? Out of sanctioned 437 Cr (as you mentioned) how much amount is dispersed by banks so far( i came to understand only portion for buying land is released so far) ? How much amount you had repaid (at-least as interest)? If its going on a smooth manner why banks declared Dewa Projects as NPA? Proof is available in one of your bankers website, check it out http://federalbank.co.in/Uploads/TenderFiles/163.pdf . It states your company is not even in a position to clear dues of Rs. 90 lakhs. Is it similar case with other banks ?
This project initially was Dewa Royale addressing a luxury segment but it did not take off as expected due to recession and the high price. That’s when company had to go through a rough patch. Afterwards they got into partnership with QVC realities and an investment company in Abudhabi to fund this project and in the process redesigned it into the middle class segment. Now they have enough funding to complete the project and their intention is to sell the majority after completion at the same time not shying away from active marketing. All the negative remarks were affixed during the phase of Dewa Royale and has no relevance now.


3) If your company do not have financial crunch, why do you went for short term finance from IL &FS of about 50 cr?
I have explained in the previous question


4) You were mentioning that about 600 units are kept to sell after completion of project. Did you launch the project after releasing heavy ad campaigns to sell only 3% of the apartment units? Its funny that you believe 600 units can be sold after completion in Kochi market. Dude dis is not middle east or you are constructing Burj Khalifa..lol
But i admit the fact that no wise investor gonna invest money in dis project without completing the project.
The location and strategic pricing will definitely sell them like hot cakes once completed.

5) The land is acquired from GIDA by different company (not in the name of Dewa Projects). why?
The land was acquired by Ansa Enterprises in which Mr.Venugopal has 94% share.

6) You were asking me to check out your website to see your project is an extra ordinary one in Kochi itself. Any dick & harry can create a website by spending few pennies. Let us see whether you complete the project in same fashion, when you complete the project. Anyway for your knowledge, the finishing's (spec) mentioned is only similar to dat of a budget apartment).

I would like to know who you are and whats your motive in trying to tarnish the image of DEWA. My only request to you is desist from posting negative remarks in this forum without verifying facts.

Sorry to bother.

God Bless !
God Bless

[vjkrishn]

UPDATE

[Prasanth_KCV]

Thanks vjkrishn for updates, seems construction is going very fast.

[vjkrishn]

Pace of construction is really good. Few months back they did slow down a little bit mainly to complete piling of other towers, now everything is back to normal. With tritvam also progressing well it will be interesting to see which project will get completed first.

[vjkrishn]

Some updates from Dewa website

Status of tower 1,2,3,4 and 5



Status of tower 6

[KMC]

This project is progressing much faster...what an amazing project this will be once completed....



http://www.dewapier20.com/project_progress.html

[Prasanth_KCV]

[vjkrishn]

UPDATE

[Prasanth_KCV]

Construction update
All the 7 towers construction started now.




http://www.dewapier20.com/project_progress.html

[vjkrishn]

UPDATES

[vjkrishn]

Rising skyline of Kochi ( Neptune courtyard, Dewa pier 20 and Tritvam)


pic by: Marthendahl