Highland Garden-Thane(Siddhi Group) - Page 2 - Indian Real Estate Forum

tubaibabu · 24-05-10

My advice to SHUBHUSHU was on the basis of common sence. Presently the total amount of loan taken the Builder from Bank/ FI is Rs.90,000 Crs. So builders are there to con inocent people by putting unjustified demand like this. Once they get the money they will use it for some other purpose and in absence of any document the buyer will be helpless to take any action. Also to be noted the whole system in india is against rights of the RE buyers.

shubhushu · 25-05-10

Highland garden got the approval from SBI.Also the builder is giving more financial options like HDFC,IDBI,AXIS BANK,ICICI.

As I told earlier they already had there few past projects and also some future one -which they will launch soon.

only the reason to worry is""possession"",This is not our Investment home,so we are expecting the possession within period.

once will release our amount ,we will have to follow up the developer.

Is there any other way...or each newly launched property (whose work yet to start) buying people have to deal with the same situation?

tubaibabu · 25-05-10

My good wishes with you for timely possession of your flat. How ever in my view the RE price is going to crash in near future.

unni1 · 26-05-10

Unfortunately for you not many people relevant for you are reading your post or rather replying to your post.

Just to add some suggestion, as you have said that SBI has approved the project, then why don't you approach them and get further details. I guess its safe to assume that even loans would be available soon. It may also be worthwhile to check with some other HFC's, who may be in process of reviewing this project.

Further more instead of you getting into some kind of argument with the builder, regarding new rates applying etc (the kind of stuff, these builders are famous for) is it not possible for you to negotiate with the builder, just so that you buy more time till you check with some other sources?

jacobsassoon · 28-05-10

The project is approved by most banks as stated on their website and they can even arrange for a representative to contact you if required. Hence, I dont understand why you are unable to obtain your loan.
As for the 15% I know its steep but I think all builders tend to ask for a fixed amount up front after booking after which it is plinth based payment. Yes these problems are faced by most who purchase under construction properties.

jacobsassoon · 14-08-10

Hey shubhushu... Was interested in knowing how did things conclude with you?? Lemme know

sweetboy · 14-08-10

shubhushu.. Normally when you purchase the flat, they will give you payment plan that spells out at what point how much is due. Do you have something like that which was given by the builder? See what it says and have discussions based on it.

shubhushu · 27-08-10

Hi,

sorry for the late reply,I made 15% payment to the builder,Even they ask for service tax also,I made payment for service tax too.

Also submitted my payment before 15 days for ragistration and stamp duty,but still waiting for the agreement.

Does anybody is facing the same situation for highland garden?

Please let me know,I am worried about the possession,as they commit we will get possession may 2012,What is the work process?

Does anybody has done with the process of stamp duty ragistration,what possession date builder is meintioning in agreement.

jacobsassoon · 28-08-10

Quote:

Originally Posted by shubhushu

Hi,

sorry for the late reply,I made 15% payment to the builder,Even they ask for service tax also,I made payment for service tax too.

Also submitted my payment before 15 days for ragistration and stamp duty,but still waiting for the agreement.

Does anybody is facing the same situation for highland garden?

Please let me know,I am worried about the possession,as they commit we will get possession may 2012,What is the work process?

Does anybody has done with the process of stamp duty ragistration,what possession date builder is meintioning in agreement.

Hey Shubhushu,

Isnt there a stay order on the service tax bit?? How did they demand you pay it despite that?? Pls question them!! Although I paid before the due date for 3 additional slabs to avoid the ST.

Btw when did u make the payment? I got my agreement within a months time and even had it registered on the same day which was the expected time it took and was smooth sailing...

My possession is Dec 2011(although agreement says July 2011... but delays are a given as long as they are reasonable) and they still claim so while construction is going on at a usual pace. The problem i see is that too many buildings coming up at the same time so pace is slow as work is divided but then its also a blessing in desguise as when possession finally arrives, atleast the complex will be more-a-less complete.

Which building have you purchased into?? Don't know much about the WIP as I stay in South Mumbai and dont travel there often. However one 7-storied building is nearing completion...

Btw did u hear that the whole complex is going green!! Thts nice!!

shubhushu · 29-08-10

HI Jacobsasoon,

Infact I was waiting for your reply only,As I know you are the buyer in this project.
I booked my flat in cypress which is 11 storey tower.
at the time of booking they told me expected possession would be may 2012.
but seems difficult ,Infact I thing It might take 3 years from here as the work progress is very slow.

Can I ask in which building u had booked?how much work was completed when u booked.

Thanks

14-08-10	#17
sweetboy New Member Join Date: Jul 2010 Posts: 28 My Mood: Thanks: 0 Thanked 0 Times in 0 Posts Rep Power: 1	shubhushu.. Normally when you purchase the flat, they will give you payment plan that spells out at what point how much is due. Do you have something like that which was given by the builder? See what it says and have discussions based on it. __________________ Mitti se aya hai... mitti mein mil jaayega! :bab (65)

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24-05-10	#11
tubaibabu New Member Join Date: Jan 2010 Posts: 42 Thanks: 0 Thanked 0 Times in 0 Posts Rep Power: 1	My advice to SHUBHUSHU was on the basis of common sence. Presently the total amount of loan taken the Builder from Bank/ FI is Rs.90,000 Crs. So builders are there to con inocent people by putting unjustified demand like this. Once they get the money they will use it for some other purpose and in absence of any document the buyer will be helpless to take any action. Also to be noted the whole system in india is against rights of the RE buyers.

25-05-10	#12
shubhushu New Member Join Date: Apr 2010 Posts: 10 Thanks: 0 Thanked 0 Times in 0 Posts Rep Power: 1	Highland garden got the approval from SBI.Also the builder is giving more financial options like HDFC,IDBI,AXIS BANK,ICICI. As I told earlier they already had there few past projects and also some future one -which they will launch soon. only the reason to worry is""possession"",This is not our Investment home,so we are expecting the possession within period. once will release our amount ,we will have to follow up the developer. Is there any other way...or each newly launched property (whose work yet to start) buying people have to deal with the same situation?

26-05-10	#14
unni1 New Member Join Date: Jan 2010 Posts: 14 Thanks: 0 Thanked 0 Times in 0 Posts Rep Power: 1	Unfortunately for you not many people relevant for you are reading your post or rather replying to your post. Just to add some suggestion, as you have said that SBI has approved the project, then why don't you approach them and get further details. I guess its safe to assume that even loans would be available soon. It may also be worthwhile to check with some other HFC's, who may be in process of reviewing this project. Further more instead of you getting into some kind of argument with the builder, regarding new rates applying etc (the kind of stuff, these builders are famous for) is it not possible for you to negotiate with the builder, just so that you buy more time till you check with some other sources?

28-05-10	#15
jacobsassoon New Member Join Date: Dec 2009 Posts: 36 My Mood: Thanks: 0 Thanked 0 Times in 0 Posts Rep Power: 1	The project is approved by most banks as stated on their website and they can even arrange for a representative to contact you if required. Hence, I dont understand why you are unable to obtain your loan. As for the 15% I know its steep but I think all builders tend to ask for a fixed amount up front after booking after which it is plinth based payment. Yes these problems are faced by most who purchase under construction properties.

27-08-10	#18
shubhushu New Member Join Date: Apr 2010 Posts: 10 Thanks: 0 Thanked 0 Times in 0 Posts Rep Power: 1	Hi, sorry for the late reply,I made 15% payment to the builder,Even they ask for service tax also,I made payment for service tax too. Also submitted my payment before 15 days for ragistration and stamp duty,but still waiting for the agreement. Does anybody is facing the same situation for highland garden? Please let me know,I am worried about the possession,as they commit we will get possession may 2012,What is the work process? Does anybody has done with the process of stamp duty ragistration,what possession date builder is meintioning in agreement.

29-08-10	#20
shubhushu New Member Join Date: Apr 2010 Posts: 10 Thanks: 0 Thanked 0 Times in 0 Posts Rep Power: 1	HI Jacobsasoon, Infact I was waiting for your reply only,As I know you are the buyer in this project. I booked my flat in cypress which is 11 storey tower. at the time of booking they told me expected possession would be may 2012. but seems difficult ,Infact I thing It might take 3 years from here as the work progress is very slow. Can I ask in which building u had booked?how much work was completed when u booked. Thanks