Thursday, February 24, 2011

Updated: Feb 2011

Here's the latest satellite image dated 04 Feb 2011 of Central Park II. A large version of the pic is available here:

As you can see, the project is far from reality. The construction mess is all around the site, there's no sign of a central vista or garden for which PLC was charged from all the front facing apartments. The primary school, nursery school, creche and clubhouse for towers 1 to 9 have not yet been built as promised in 2004-2005 till date. Towers 15 to 29 are also significantly delayed while the structure for towers 10 to 14 seems to be up. Around towers 7 to 9, lot of construction work is going on - these towers are not even handed over to owners. The two Belfort towers near the entrance are also still under construction.

In the 5 years between 2005 and 2010, CP2 has managed to construct only 6 towers. These 6 towers are full of defects. Walls have seepage in them, tiles are of extremely poor and 3rd grade quality, electrical wiring is not properly done (some place, the conduit pipes are missing), underground parking is not yet ready, swimming pools had leaking issues and had to be emptied out within 10 days of water being filled, promised water bodies around towers 1 to 6 that were created were also leaking and had to be shut ..the list goes on.

People are now asking when rest of towers will be completed - I'm sure God will have a difficulty in predicting that too. If you see the archives of this blog from March 2009, every prediction made so far has failed on completion of towers.

Look at the picture further, on the right is Uniworld Garden. The sale of this started in 2005, around the same year as CP2. People have been living in the completed project from 2009 onwards and the prices are about Rs. 1000 per sq ft higher than CP2.
It is strange that even in a messed up project like this, people are buying apartments. I don't know what attracts them, maybe it's the low prices compared to nearby properties. Or maybe they don't get to meet some owners of apartments in CP2 so they aren't making informed decisions.

From the looks of this, the new prediction for completion of the CP2 project is 2020. The date 2020 is also valid only if the project doesn't get into litigation before that. Anyone who says a day earlier than that better make some calculations and share with us. Remember that the 2 central premium towers haven't even been approved yet. Also, the real estate market seems to be cooling off so it's going to be some time before they can sell those towers. Then the construction will begin ...and will go on and on and on...

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