08 July,2010 10:41 AM IST | | Special Features
Royal Palms at Goregaon (E) is offering the commercial property buyers guaranteed returns of 18 per cent per annum for 2 years who lease-back their units through Royal Palms.
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There are no catches or options attached. Royal Palms shall further lease these properties to its corporate clients and generate income from them, which will be used to pay the owners their share.
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This will ensure that investors purchasing offices will get good returns as well as capital appreciation.
There are ready possession offices and shops, under construction offices and ready possession commercial offices for corporates at an unbelievable price starting from Rs 15.99 lakh onwards.
Buying property at Royal Palms is a bargain in more ways than one. On one hand Royal Palms offers property at rates which are 30-60 per cent below the going market rates and on the other hand one gets a guaranteed assured return of 18 per cent!
There are two valid reasons for this offer. Says Dilawar Nensey, JMD, Royal Palms, "First the land on which these properties are located was acquired over 26 years ago at negligible cost and hence even at these rates we will make reasonably good profits. Property buyers are also given a free lifetime membership of the Emerald Club (cost Rs 2 lakh) located within the complex."
Royal Palms has already sold over 2000 offices totaling 800,000 sq ft to top names like Topsgroup, Essel Shyam Telecom, Monarch, etc.u00a0 For under construction commercial property - it is the confidence of the promoters in the potential capital appreciation of the project which is making them offer 18 per cent guaranteed returns upto July 11.
With bank deposit rates now hovering around the 8 per cent mark and loan borrowing rates around the 9-12 per cent mark, it's an unbelievable deal.
There have been responses galore to this offer, and Rahul Jadhav is one such: "I have noticed that real estate prices always goes up, and I feel no one will ever get such a price, ie Rs 15.99 lakh for a commercial unit in an area that has no noise or air pollution."
Spread over 240 acres of lush green land, Royal Palms Estates is just seven minutes from the WE Highway and 7 kms away from the International airport.