Hi rupinder,
I receive a lot of info on GTa and area condos. One of the realtors sent this to me.
I'm not investing in either. Just thought I'd share in case it helps you.
1. The launch of M city Condo with a huge hype. Over 1000 Real Estate Agents stood in the queue in freezing cold weather at Mississauga Cineplex Theatre
just to get the price list. I got calls from lots of clients inquiring about it.
2.The launch of Mills Square 2 on 28th March 2017. Both this project got me really thinking. As a realtor it is my job to educate my clients and provide
all the information available to me. To make things easier I did a comparison on the important details of both the projects.
3. I received The President's Gold Award, Service Excellent Award and Terrequity Silver Award for 2016 from Royal Lepage Terrequity Realty.
Mills Square 2:
1. 4 Buildings in Total (Last one on sale)
2. Lower Price per square feet
3. Maintenance fees is approximately $0.54 per square feet. It includes all utilities except Hydro
4. Purchase Price includes 1 underground Parking and 1 Locker.
5. Lower Development Charges (approx $3500 - $5000)
6. Amenities include Indoor Swimming Pool and many more (approx 17,000 sq ft of recreation)
7. 18 Storey Building with 179 Apartments
8. Almost all condos come with 2 bathrooms
9. Excellent location with close proximity to Highways, Shopping, Hospital etc
10. Occupancy around Spring 2020.
11. Free Assignment
Most Important - Deposit Structure is as follows:
$5000 on Signing
Balance of 5% in 30 days
5% in 180 days
5% in 370 days
5% on Interim Occupancy (Spring 2020)
You are paying 15% in 1 year and balance 5% after 3 years at interim closing
M City Condo:
1. 10 Buildings in Total (1st one on sale)
2. Higher price per square feet in comparision to Mils Squre
3. Maintenance fees is approximately $0.50 per square feet. It does not include any Utiliities. Individual meters for all units
4. Purchase Price does not include Parking and Locker. You have to pay $20,000 for Parking and $3,500 extra for Locker
5. Higher Development Charges (approx $6000 - $8000)
6. Amenities include Outdoor Swimming pool and Ice Rink
7. 51 Storey Building with 700 units
8. Bigger condos come with 2 washrooms
9. Excellent location in High demand Square one Neighbourhood
10. Occupancy Around August 2021
11. Free Assignment ($500 admin fee)
Most Important - Deposit Structure is as follows:
$5000 on Signing
Balance of 5% in 30 days
5% in 180 days
5% in 370 days
5% in 540 days
You are basically paying all 20% in 2 years