Octave — 2 BHK, 791 sq ft carpet

The facts

Read the payment plan before anything else. The advertised plan is 50 per cent now, 25 per cent on the top slab and 25 per cent on possession. Section 13(1) of the Real Estate (Regulation and Development) Act 2016 says a promoter may not accept more than ten per cent of the cost of an apartment as an advance payment or application fee without first executing a written agreement for sale and registering it. On a ₹1.25 crore home ten per cent is ₹12.5 lakh; fifty per cent is ₹62.5 lakh. Registration with the sub-registrar is the trigger, not a signed but unregistered agreement, and a buyer cannot contract out of the section. This is enforced and recently: in September 2026 the Maharashtra Real Estate Appellate Tribunal held that a developer which had taken more than ten per cent of the price without a registered agreement could not lawfully demand more, could not terminate the allotment for non-payment, and had engaged in an unfair trade practice — ordering a refund of ₹80.77 lakh with interest and a ₹10 lakh penalty. If you proceed here, get the agreement for sale drafted, read it, and register it before anything above ten per cent moves. Bear in mind that registering early also brings your stamp duty and registration charges forward by years. Note too that this is a front-loaded milestone plan, not a subvention scheme, whatever the creative calls it. In a real subvention scheme a bank or housing finance company disburses the loan and the developer services your interest until an agreed date. Here there is no lender in the middle and nobody is paying your interest: if you fund the 50 per cent with a home loan, your EMI starts on disbursement and you carry rent and EMI together until possession. Housing finance companies were told to stop funding genuine subvention schemes in 2019 in any case. One portal records the project's payment terms as an ordinary construction-linked plan rather than 50/25/25, so ask which one is actually on offer. Second, the EOI. Five lakh rupees is being collected as an expression of interest. An EOI is not an allotment and not an agreement — it is a queue position. MahaRERA's position is that where there is no registered agreement for sale, a developer may retain only a reasonable administrative amount on cancellation, capped at two per cent of the unit cost; in June 2026 it ordered a developer that had forfeited ₹4 lakh on a ₹1.60 crore flat to give back everything above two per cent. Two per cent of a ₹1.25 crore home is ₹2.5 lakh, which is half the EOI being asked for here. Before you pay it, get in writing what it buys, what happens if you do not proceed or the unit you want is unavailable, how long a refund takes and who signs it. Third, what stage this project is actually at. The creatives call it a pre-launch. One listing portal reports the project as 35 per cent complete as of September 2026; another shows it as a pre-launch with a launch date of 1 November 2026. A registered project that is already a third built is not a pre-launch, and the difference matters to what your money is funding. Ask for the current Form 3 architect's certificate, which states construction progress, and compare it against what you are told. Fourth, the prices, which do not agree. The developer's own creatives carry two sets — ₹1.25 crore and ₹2.25 crore onwards on two of them, ₹1.39 crore and ₹2.39 crore on a third. A listing portal carries a third set at ₹1.65 crore and ₹2.80 crore, explicitly described as all-inclusive. Nobody publishes a price list reconciling them. The gap between the lowest and the all-inclusive figure is about the size you would expect once GST, stamp duty, registration, floor rise, parking and deposits are added, which would make ₹1.25 crore an agreement value and ₹1.65 crore an all-in outgo — but that is our arithmetic, not a developer statement, and it does not explain the ₹1.39 crore figure at all. We publish the lowest number because it is the one marked 'onwards'. Ask for a written, dated price sheet that says whether the figure is agreement value or all-inclusive and what is included. Fifth, a genuine point in the project's favour: the areas are real RERA carpet areas. The architect's floor plan labels every unit RCA and the figures match the sales material — 780 and 791 sq ft for the two 2 BHK layouts, 1,331 for the 3 BHK. On this belt the advertised size is often carpet plus balcony and deck added together, so compare these against another project's carpet rather than its total area. Sixth, the height. Four different floor counts are in circulation: fifty storeys on the creatives, 46 on one portal, a stack described as ground plus four commercial, eight podium and 38 residential floors on another, and an architect's typical plan in our hands that plates to the 42nd floor. Those can be reconciled if they are counting different parts of the same stack, but no sanctioned floor count is published anywhere. Ask which floor your unit is on and ask for the plan for that floor. The claim that this is one of the tallest towers in Mira Road East is the developer's; we have found no independent ranking. Seventh, the registration. MahaRERA number PM1331012601797 is printed on the developer's artwork with a QR code to the certificate, which is as it should be. Reading across other MahaRERA numbers in the same series, the second letter appears to denote the project type and PM indicates a mixed-use registration — residential plus commercial in one project — which fits the four commercial levels in the floor stack and the international retail brand the marketing mentions. Verify the number yourself at maharera.maharashtra.gov.in and read the promoter's legal name, the proposed completion date, the sanctioned floor count and the litigation annexure, because none of those appear in the material we hold. Eighth, the developer. Origin Corp has delivered in this pocket of Mira Road before — Wisteria Square, Shubh Atika and Oriana are all within the Vinay Nagar and Gaurav Valley belt. We found no MahaRERA order, tribunal ruling or court matter against them in open searches, though the regulator's complaint database is not fully searchable from outside, so treat that as nothing found rather than nothing there. What is worth weighing is scale: the largest Origin building we can evidence is 21 floors, and this one is marketed at fifty. That is a significant step up in structure, services and capital for any developer, and it is the reason the payment terms deserve the scrutiny set out above. Ninth, the ground. Vinay Nagar is named in press reporting on Mira Road flooding as one of the locality's habitual waterlogging spots, alongside Hatkesh and Kashimira nearby. That reporting dates from 2019 and drainage may have been improved since, but it is specific to this address rather than generic, so ask about site levels, the podium height above road level and the storm-water connection, and if you can, visit in the monsoon. Lastly, density: eight homes share each floor — four 3 BHKs and four 2 BHKs — served by four passenger lifts and two fire lifts. That is a sensible ratio on paper for a tower of this height. All images are the developer's artist's impressions, reproduced unaltered.

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