I personally would like to advise folks against buying property in HM world city. I am a retired person and I made this mistake of buying in HM World City two years ago.
I was impressed by the floor plans and Price which was lower than Guidance value. I really thought it was a fantastic deal. I am now repenting my decision as this property has a huge maintenance cost. HM Personnel advised me that Maintenance Rate is low.
After three month of moving in I realized my mistake. HM World City has a huge maintenance cost due to poor maintenance by builder. I am just highlighting some of the reasons
1) I was shocked to see that after 8 years HM has not given the corpus which he has collected. The residents are now forced to collect additional funds in addition to regular maintenance to manage capital expenses like painting etc. I then enquired in few other HM Properties and was shocked to hear that Builder has not given corpus back in a place. I myself checked in HM Symphony and HM Tamburine and shocked there also corpus is not given back.
2) HM was maintaining building for six years and he tried all stunts like harassing residents and tries preventing folks from forming association. He never provided any accounts for maintenance. Worst HM personnel walked off from Maintenance giving 48 hour notice. What a nightmare situation.
3) Apart from accounts I was surprised basic things like maintenance of motor and fire systems was never done. The residents now have to shell out large expenses going in lakhs to rectify all this
4) Sub-standard material have been used in outdoor tile and interlocking tiles. One can see the numerous places where tiles are now caving in. God knows how much we have to now shell out to repair all these
5) Due to encroachment of Raja Kaluve. Huge flooding has occurred in basement, My car was almost damaged and now there are large number of snakes. Residents have to spend large money to pump water out and spend money on snake treatment
This year itself I had to spend Rs 5000 pm maintenance on a two bed-room apartment close to 60, 000 Per annum. I have heard three bed room it is close to Rs 85, 000. This is cost of maintenance even when there is no club house etc. This cost will only go up due to inflation and there is hardly any corpus or sinking fund.
I am advising to folks to consider the huge long term cost in this complex. If one is OK to spend huge amount of maintenance without facilities then he can buy here.