Omaxe New Heights Vs  Omaxe Heights

Omaxe Ltd has two projects in Neher Par or Greater Faridabad as it is commonly referred. The first one is on sector 86 and called Omaxe Heights while the second one is in Sector 78 which is named as Omaxe New Heights. For the Benefit of all concerned we are trying to distinguish the two :

Omaxe Heights Sec 86 Faridabad - The project is nearing possession and should be ready to move in 2010 itself. It has options like 2bh and 3bh and recently launched 4bh. Smaller sizes are largely in resale market. While bank funding is not a problem, but upfront is high and may vary depending upon premiums demanded. The effective EMI from the day one would be higher. Post possession costs like Registration Cost and running maintenance would also come into picture. If tax benefits remain, the tax benefit can be claimed. Location wise, presently the accessibility is better and looks closer to both the bridges. The number of units are around 2000.

Omaxe New Heights Sec 78 Faridabad - The project is at allotment stage and would take around 30 months from actual start of construction for delivery.  The number of units are 300 odd. It has smaller sizes like 850, 1100 and 1350 sf. Pricewise effectively it is similar to Omaxe Heights. Presently the sector roads are not in place so one has to take longer route but in future it would be closer to bridge and commercial sector 79. The upfront is low, payment is to be paid in installments, so EMI burden is also less.

The Bigger Question is which one to pick ?

If you are an enduser, desperate to move into a self owned property and dont mind some compromises till more infrastructure comes up, you should consider it. Your rental at other place is saved, tax benefit can be availed, less uncertainities and you start living. But if you are an investor, it could make more sense to pick Omaxe New Heights. The entire area to throughly appreciate looks upto Govt on one side for providing the proposed infrastructure and connectivities. It also relies on endusers to actually occupy the large supply to provide the necessary feel of neighbourhood, community living and sense of security. And till that time it happens an investor in omaxe heights would not only pay higher upfront, but also brokerages, transfer fees, registration, maintenance, interest costs etc. So if the appreciation happens in a proportionate or similar manner, the ROI could be better in Omaxe New Heights than in Heights. The brand advantage remains same in both. Also, A premium project from Omaxe called Spa Village is being developed just next to New Heights. At one point of time, it was the highest priced apartment in the entire belt.   

Views contradictory to above or adding to it are most welcome. Feel free to raise them.