nivara07

Hey Guys

I have booked in tower Q, 3BHK.

The work has not started even now, anything behind this?

Nivara

faujiman

I have been following the various newspaper ads of India Bulls Panvel Greens and called them today as am looking to purchase a flat in mumbai.

From what their guys told 1st phase was launched in sep 2009 at 2200psf(completely sold out) and now phase 2 within six months at 2900psf-but the catch is their construction work is yet to start and no bank has approved their project for home loan financing-

So can someone advise me if this is a genuine project or just a manner of collecting money from bookings and then delaying the project as per their on pace.

Please advise

jia001

Hi Fauji,

We have the same information as you have.

As per our understanding, the bank-approval/construction commencement are subject to clearances from civic authorities, which have not yet been obtained.

You could either jump in and take the risk or you can wait for approvals but then risk a higher price later.

As the clearances are not in place, I think the construction schedule is tentative. You can expect a better estimation only when the construction starts.

raash

hi chachu & tower P,

Initial payment of Rs.1 lac and subsequent payment of 10% less Rs.1 lac are together considered as 1st installment. This is what all have paid as yet.

Second installment for phase 1 should be due soon, on commencement of work. For 2nd phase, it would take at least a couple of months more.

siddeshams

Hi guies
Any one can update the current status on Phase I

cust_indiabulls_panvel

Have not heard anything on the start of the Phase I and status of the "Final" approval yet.

The latest news is that Phase III and PHase IV of the project are being planned and IB is in process of announcing these.

peeya

Hi guys...just talkd with indiabulls manager he told approvals will be in the end of this month..and we all should be happy who have booked property in 2200 and 2400..currently rates is revised by 2900..and i think it will definately grow above 3500 or more if we r lucky...

seekay

Didn't they say 'next month' in Dec 2009 and then 'end of this month' or something similar in Jan as well? Basically, until they get approval, they will keep mentioning 'bas hone wala hai'

jia001

kya hone wala hai?

According to chennai metro blogs:
In chennai they started selling in sept 2008 and expected the clearances by Feb 2009. I think they got clearance last month. (ohh its 2010 not 2009, I am a year older)

I am sure the panvel panchayat samiti/raigad zilla parishad are more efficient than the Chennai Metropolitan Development Authority. So they can save us a year.

peeya

wat does it mean?r we in problem? I dont think so..coz i knw someone from indiabulls who is working as manager and he is good friend of mine..as per discussion with him he mentiond me that aproval is geting bit delay coz they r taking approval for whole project...and he told dnt worry about the investment u will get vry good returns..so i completely trust him coz, even he hav invested in this project.and he hav studied a lot regarding this project and then he hav invested so trust me guys not to worry..yeh but expect aproval wil take some more time..as soon as they will get the work will start with full swing..so be positive hope for the best..