Real Estate India Property Forum –Gurgaon, Delhi, Noida, Mumbai –No Buy, Sell or Rent Properties here!

JOIN IREF

Go Back   Indian Real Estate Forum - www.indianrealestateforum.com > Real Estate in Indian Cities > Hot Cities > Mumbai

Search Before Posting - Use 'Google Custom Search' - Keep forum free from Duplicate Threads - Use Descriptive Thread Titles

Reply Closed Thread

LinkBack Thread Tools Search this Thread
Old 20-08-11   #1841
Member
 
Join Date: Jun 2011
Posts: 152
My Mood: Relaxed
Thanks: 7
Thanked 0 Times in 0 Posts
Default

Quote:
Originally Posted by s.sath View Post
CONSUMER CHEATED

Builder asked to pay 45L to home buyer

Rebecca Samervel TNN


City builder told to pay Rs 45L to flat buyer - The Times of India


Mumbai:The state Consumer Dispute Redressal Commission has ordered a Pune-based builder to pay a home buyer Rs 45 lakh for failing to give possession of a flat the buyer had purchased for Rs 6.5 lakh in 2001.
The commission also reprimanded the builder for selling the same flat to another buyer. The commission stated that it is just to compensate the buyer with an amount matching the existing market price.
In 2001, Prashant Kulkarni booked a flat for Rs 6.5 lakh in a building which was to be constructed by Vijay Wagh. Since possession was not given on time, Wagh demanded Rs 6.9 lakh against the original amount. In 2005, the district consumer forum directed Wagh to hand over the possession. Wagh then moved the state commission in Mumbai.
Wagh’s counsel argued that he had not handed over the flat as Kulkarni had failed to pay the remaining amount. He also contended that the flat had been sold to a third party after termination of the agreement. The commission observed that a stipulation in the agreement stated that Wagh could not terminate the agreement without giving Kulkarni a 15 day notice along with the reasons for the termination. Since Wagh did not abide by this the termination was neither legal nor proper, the commission said.
The commission also ordered Wagh to pay Kulkarni Rs 10,000 towards legal costs.
well builder buyer agreements are always one sided favouring the builder , neverthless coutrs shall interpret them in the terms of the existing laws irrespective of their being completely poised against the buyer.in this case as u have mentioned above the builder comitted some mistakes by not following the terms of the agreement and therefore had to compensate the buyer.
  Reply With Quote
Old 20-08-11   #1842
New Member
 
Join Date: Aug 2011
Posts: 20
Thanks: 0
Thanked 0 Times in 0 Posts
Default

Guys, are you all paying the Service Tax amount demanded by IB for the Phase 2 also, I have just received intimation letter for paying the 10% amount by 26th Aug and the Service Tax amount for the earlier 10% incl of the booking amount.

Can anybody share the Flat layout for Phase 2 T shaped building for 2 BHK if provided to anyone through IB.
  Reply With Quote
Old 20-08-11   #1843
Member
 
Join Date: Jun 2011
Posts: 152
My Mood: Relaxed
Thanks: 7
Thanked 0 Times in 0 Posts
Angry

Quote:
Originally Posted by bistsuresh View Post
Hi Keezpanvel,

Great that you are planning to write to CCI...am with you too.

Was happy to ready that article on DLF but I also came across this article which says CCI may not be able to slap a fine against all builders, unless it is proven that they are a monopoly...

Post DLF penalty, Competition Commission of India to scrutinize other real estate firms of unfair practices - Page 2 - Economic Times


PS:
I had already paid 20%, post which I got a letter from IB for more money so that we could proceed with the signing of the agreement.

Now I have paid close to 38%, have the DD for stamp duty & registration ready with me, have signed the agreement and given it to IB but...they won't execute the registration...

As usual no concrete reasons...they say they are not going ahead with the agreement registration for the building 18H (sector-4) yet so I will have to wait...for how long? they dont know...

Obviously they could have told this to me before, saving me lot of stress, but they chose to lie...so typical of IB
I presume that u r speaking about Ph 2.This seems to be a malpractice.Once the requisite amount has been paid to them they should immediately proceed with signing of the agreement.Such acts spoil reputation of a builder and discourage others from investing with them.If reputed builders also do this then where should investors like us go ? Better not invest in real estate at all in India then and find some other investment options.

Did u try taking up this issue with their VP sales or higher officials ? I suggest u to do by sending a fax / e-mail to their VP ( Sales ) with a copy to site office for intimation coz often employes do such acts at their level only and it may not be a company policy.All builders in india ar f****g liars , cheats , and fraud.

I am also watching closely and reviewing my options to invest with this builder.
  Reply With Quote
Old 20-08-11   #1844
New Member
 
Join Date: Apr 2011
Posts: 47
Thanks: 3
Thanked 0 Times in 0 Posts
Default

Quote:
Originally Posted by newlayout View Post
Attache Photos of Secor-2 and Sector 3
newlayout,

What about progress of other sectors??
  Reply With Quote
Old 20-08-11   #1845
Member
 
Join Date: Aug 2011
Posts: 63
Thanks: 0
Thanked 0 Times in 0 Posts
Default

Quote:
Originally Posted by bolara View Post
from some other thread,

is our project 'green project' ? anyone has idea?



SBI GREEN HOME LOAN Can anyone put light on this article.

SBI offers discounts for “Green” home loans

Showing sensitivity to the environment, the State Bank of India (SBI) is offering various discounts for housing loans taken to buy or build “Green” homes.


Showing its commitment to protection of the environment, State Bank of India (SBI) is encouraging construction of “Green” or environmentally friendly homes.
It is doing this by offering various discounts for home loans taken for such buildings. This scheme is called SBI “Green Homes”.
Details of the discounts offered
Rate of interest
The interest rate charged for a “green” home loan would be 0.25% lower than the rate charged for loans for non-“green” homes.


Here are the benefits to you:
  • Your Equated Monthly Installments (EMIs) would be lower – resulting in less expenditure every month
  • You would pay less interest over the tenure of the home loan
  • Lower EMI also means that you would be eligible for a higher loan amount. Banks cap the EMI amount as a percentage of your monthly income – so lower the EMI, higher is your loan amount eligibility.
Example: If you are taking a housing loan of Rs. 30 Lakhs for 20 years, the rate of interest would be 10% instead of the regular interest rate of 10.25%.
Thus, your EMI would be Rs. 28,951 per month instead of Rs. 29,449 – a saving of Rs. 498 every month. Or, a saving of Rs. 1,19,520 over the entire term of the loan!
Margin money
The margin money needed for such home loans would be 15% of the loan amount (against the normal 20%).
This is a big concession – it means that you would need to come up with a lower sum on your own at the time of purchasing the house.
Example: If you are taking a housing loan of Rs. 30 Lakhs, the margin money needed would be Rs. 4.5 Lakhs instead of Rs. 6 Lakhs that would have been needed for a regular (non-“green”) building.
Processing fee
The processing fee for a housing loan taken for a “green” house would be totally waived off.
SBI usually charges 0.5% of the loan amount (capped at Rs. 10,000) as the processing charge, and you would be saving this amount entirely!
Example: If you are taking a regular housing loan of Rs. 30 Lakhs, the processing fee is Rs. 10,000. If you are taking the housing loan for a “green” project, you would save this money!
Eligibility Criteria – What is a “Green” home?
So, what qualifies a house / flat you are buying as a “green” home?
A home or housing project is considered as an environment friendly residential project (or “green”) if it has been rated such by the Indian Green Building Council (IGBC).
As per IGBC, a “green” home is a home that uses less water, less energy and fewer natural resources, and creates less waste.
“Green” buildings use construction materials that are thermally insulating, and retain the inside temperatures. Thus, they keep the inside cool even in summer.
These buildings are constructed in such a way that they allow ample sunlight to come in the rooms, ensuring less need for artificial light. These buildings also employ rainwater harvesting.
Examples of “Green” buildings / projects
Some of the projects currently being undertaken by Tata Housing and Mahindras have been certified as “green” by IGBC.
“Green” loan for a house you are constructing on your own
Even if you are constructing your own house, you can avail of this “green” home loan from SBI, provided your house is rated by IGBC


Since this project is approved by SBI, they should be able to confirm if it qualifies the "Green Building" norms specified by Indian Green Building Council (IGBC). I don't think, it qualifies for the same.
  Reply With Quote
Old 20-08-11   #1846
New Member
 
Join Date: Mar 2011
Posts: 25
Thanks: 0
Thanked 0 Times in 0 Posts
Default Progress Brief

Quote:
Originally Posted by s.sath View Post
newlayout,

What about progress of other sectors??

Sector -2 : 4th Floor

Sector -3 : 14th Floor

Sector -4 : 6th Floor

Sector -5 : 3rd Floor
  Reply With Quote
Old 20-08-11   #1847
Member
 
Join Date: Aug 2011
Posts: 63
Thanks: 0
Thanked 0 Times in 0 Posts
Default

Quote:
Originally Posted by newlayout View Post
Sector -2 : 4th Floor

Sector -3 : 14th Floor

Sector -4 : 6th Floor

Sector -5 : 3rd Floor
Is this excluding the parking levels (1 to 4) ?
  Reply With Quote
Old 20-08-11   #1848
New Member
 
Join Date: Mar 2011
Posts: 25
Thanks: 0
Thanked 0 Times in 0 Posts
Default

Yes these nos are excluding G+B1+B2 parking levels
  Reply With Quote
Old 20-08-11   #1849
Member
 
Join Date: Nov 2009
Posts: 171
Thanks: 0
Thanked 1 Time in 1 Post
Default

Quote:
Originally Posted by newlayout View Post
Yes these nos are excluding G+B1+B2 parking levels

hi "Newlayout" just wanted to doubly check the status of sector 4. IB is not registering the property for sector 4 as they say they are still waiting for some papers....are you sure that IB has built 4 floors for sector 4?

just one more query...when they say it is a 32 floor building do they mean 32 floor including parking or excluding parking?

Would really appreciate this clarification..
  Reply With Quote
Old 21-08-11   #1850
New Member
 
Join Date: Aug 2011
Posts: 20
Thanks: 0
Thanked 0 Times in 0 Posts
Default Sample Flat

Quote:
Originally Posted by newlayout View Post
Sector -2 : 4th Floor

Sector -3 : 14th Floor

Sector -4 : 6th Floor

Sector -5 : 3rd Floor

Hi Newlayout

Is the Sample Flat ready by chance to know exactly what does it look like, IB guys are saying it would be ready in another 2-3 months.
  Reply With Quote
Reply

Tags
greens, indiabulls, panvel, status

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Similar Threads
Thread Thread Starter Forum Replies Last Post
Hiranandani Palace Garden - Panvel iamgsprabhu Mumbai 419 3 Days Ago 11:59 PM
Kamothe and Panvel Price jamul_2002 Mumbai 7 5 Days Ago 02:34 PM
Hiranandani Panvel Township pravinbest Mumbai 6 21-07-10 04:34 PM
Onkar Grah Sankool, New Panvel gaub123 Mumbai 1 11-11-09 04:40 PM

ADVERTISE ON THIS WEBSITE - CONTACT US NOW
All times are GMT +5.5. The time now is 09:05 AM.



Home | About IREF | Terms and Conditions | Copyright Infringement Policy
Copyright © 2006-2012, www.indianrealestateforum.com, All Rights Reserved.
Bookmark and Share