Let's use this thread to share reviews related to Indiabulls's Chennai Greens project. I spoke to sales person and came to know that Phase I is already sold out and Phase II sales is going on. Also, Phase III will be coming up shortly and open booking is going on for the same which they offered at Rs.2800/-. Anyone have idea about UDS percentage that they generally offer?

Please post your comments & any experience with Chennai Greens.
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  • Originally Posted by RockingChair
    Sometime back when I spoke to them, they said they had another 60 odd acres. But, they were apparently having some problems in acquiring contiguous land. Also, there are some plans (on paper) to construct an highway somewhere there (backside), so its not clear.....


    Yes, there is a 200 ft road planned cutting across the Farm lands behind India Bull Greens reaching karapakkam via OMR. But its deadline is 2026 I heard!

    Any one with lands there should be doubly cautious.
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  • Originally Posted by vettipayyan
    Yes, there is a 200 ft road planned cutting across the Farm lands behind India Bull Greens reaching karapakkam via OMR. But its deadline is 2026 I heard!

    Any one with lands there should be doubly cautious.




    New link road set to ease congestion

    The Hindu : NATIONAL / TAMIL NADU : New link road set to ease congestion

    Deepa H Ramakrishnan Share · print · T+



    CHENNAI, July 27, 2011

    It will connect Karapakkam and Medavakkam via the Jaladampet lake

    A view of the Jaladampet lake across which a bridge will be constructed as part of the proposed link road between Medavakkam and Karapakkam. — Photo: A. Muralitharan

    With hundreds of IT professionals using Rajiv Gandhi Salai, improving connectivity to the road has been a constant clamour from IT companies and residents of nearby areas. A new link road, 200-ft-wide, connecting Karapakkam and Medavakkam via the Jaladampet lake proposed in the CMDA's Second Master Plan is one such facility that will address their demand and also help ease congestion on Rajiv Gandhi Salai.
    A.Anandan, a resident of Navalur said: “It takes about 45 minutes to cross the Sholinganallur junction during rush hour.
    There was a proposal for a flyover at the junction… but I don't know what happened to it. If this new road is completed, it will help reduce traffic at the Sholinganallur junction as vehicles proceeding to and from Medavakkam, Jaladampet and Pallikaranai will use this facility.”
    Already about 650 metres of the 4.5 km long new road has been laid inside the ELCOT SEZ at Karapakkam. “Many vehicles coming from the Medavakkam side take a short cut on the Medavakkam-Sholinganallur Road and come out onto Karapakkam using this road. However, only two wheelers are using it now,” said K.Elumalai, a resident of Okkiampet.
    The National Association of Software and Service Companies (NASSCOM) had also represented to State government to improve connectivity to Rajiv Gandhi Salai. “The connecting roads play a larger role in terms of bringing people to the IT Highway. This road would definitely help ease traffic,” said K.Purushothaman, Regional Director, NASSCOM.
    South Chennai Member of Parliament Chitlapakkam C.Rajendran said he would urge the Highways Department to take up the project soon to help ease congestion on the IT Highway.
    The Jaladampet Panchayat president Prema Sivalingam said that the new road would pass through several residential areas, including Padmavathy Nagar, thus affecting hundreds of residents.
    “The land use is a mixed one. There are patta lands, poromboke lands and eri poromboke. If the road is laid, the State government must adequately compensate our residents,” she said.
    Sources in the Highways Department said the cost of forming the road would be Rs.60 crore.
    This included construction of a bridge over the Jaladampet lake, which has been encroached upon and a portion of which acts as a garbage dump. Land acquisition alone will cost Rs.300 crore, they said.
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  • CHENNAI, April 21, 2012 Thrust to east-west link of arterial roads



    The Hindu : Cities / Chennai : Thrust to east-west link of arterial roads




    Staff Reporter Share · Comment (1) · print · T+


    The State Highways Department will form two link roads to connect the traffic on arterial roads in southern parts of the city in this fiscal.
    Highways and Minor Ports Minister Edappadi K. Palaniswami who tabled the policy note for 2012-2013 at the Assembly on Friday said that the Pallavaram-Thoraipakkam Radial Road, which now connects IT corridor and the GST Road, would be extended up to East Coast Road. Once the department completes preparing detailed project report, process to acquire lands would begin this year.
    B. Kannan, a resident of Thoraipakkam, said link roads between GST Road and ECR and ECR and Rajiv Gandhi Salai would help residents. Sources in the Highways said they will initiate detailed project reports for the schemes announced in the Assembly soon. The proposal to extend Pallavaram- Thoraipakkam Radial Road up to the ECR would cut travel time for those commuting to GST.
    The other link roads are from the stretch of Maraimalai Adigai Bridge-Irumbuliyur Road at Medavakkam to Karapakkam on Rajiv Gandhi Road and a 200-feet road connecting Chennai bypass and Outer Ring Road near Karunakaracheri at Ambattur. Alignment has been changed after the residents' protest in the locality.
    Two more grade separators would be added to southern Chennai this year. While one facility would come up on the junctions of Medavakkam Road and Pallavaram Thoraipakkam Road near Keelkattalai at a cost of Rs.60 crore, another would link three roads. The Rs.90 crore worth grade separator would be built on the junction of Medavakkam-Sholinganallur Road, Medavakkam- Mambakkam Road and Maraimalai Adigai Bridge-Irumbuliyur Road at Medavakkam.
    Some more projects in the pipeline are link roads between Rajiv Gandhi Road and ECR at Neelankarai and Palavakkam estimated to cost Rs.100 crore. Detailed project reports are being prepared for a grade separator at the junction of Mount-Poonamallee Avadi Road and Chennai Bengaluru Road near Poonamallee.
    Connecting ECR and OMR will help between east–west connectivity, said officials. “All the links that we now have on the roads are from north to south and development too is happening in that direction. With east west connectivity, development that is perpendicular to the two roads will happen,” an official said. Residents of west Chennai also have something to cheer as bridges across Coovum river at Nolambur and between Mount Poonamallee Avadi Road and Paruthipattu would be built.
    Minister K. Palaniswami also elaborated on six-laning of Rajiv Gandhi Road for 25 km from Siruseri to East Coast Road near Mamallapuram. He sanctions Rs.100 crore for phase II of Outer Ring Road. In a bid to develop infrastructure for Oragadam industrial park, Singaperumal Koil-Sriperumbudur Road and Vandalur-Walajabad Road would be widened to four lanes.





    Comments:

    Good...All these are as planned in CMDA 2026. Previous govt also introduced buses from towns next to Chennai(Sriperumbudur, Sunguvarchatiram,Mahabalipuram,Thiruvallur, Chengalpet,Kanchi etc) to center of Chennai(like Mandaiveli,Vadapalani,Thiruvanmiyur etc.) thereby ensuring that natives of these towns continue to have their homes in the nearby towns and commute to Chennai rather than moving to Chennai. good to see that both govts are implementing CMDA 2026 in other aspects as well (train-bus modal split, public-private transport modal split etc, multiple modes of transport -auto,shareauto,taxi, bus, train,metro,mono etc.). Need to appreciate CMDA for their plans.
    from: saranyan
    Posted on: Apr 21, 2012 at 17:46 IST
    This article is closed for comments.
    Please Email the Editor
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  • Anyone checked on the 20:80 scheme launched by Indiabulls?
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  • yes 20-80 option available !!! till possession you need not pay the amount. but that tie up is only with india bulls bank only i guess!

    and if you are not going to pre-emi and ok to pay normally, they will give 12% discount on base price it seems.
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  • .when my friend enquired 3 months back, it was 4000 psqft, and for 20:80 scheme it was 4500 psqt. i.e 500 Rs more for 20:80 scheme.
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  • Yes...i too called and found out. Under 20:80 till possession rate is Rs.4000/- plus other charges. Sounds like a great opportunity for investment....
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  • Beware

    The project started years back and its still under-construction. The agreements are one-sided. People I know have lost money trying to cancel their booking amt in this project. Its not for a reason that it feels attractive at this price-point.
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  • These peopole returned my booking amount with interest (@2900/sft) and to many others stating that they could not get cmda permission for phase 3 and so would like to cancel the bookings and simultaneously they are making fresh bookings to others at higher rates. They lure you with attractive price at that time, use your funds for a year or more and return if they are pressured as they have to grow the scam big. They collect money once again with a different scheme and different price. Unfortunately govt. doesn't do anything to stop such fraudulent companies' activities. Do they work like fake finance companies who pay your interest from others principal and one day may walk off swindling all the moneys after growing big? Be ware!
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  • Hi Vens - yes they returned bookings taken under phase3 with interest. Till date there is no development or any progress in phase3.Had they continued to hold on to your money and not made any progress in construction then I guess 5yrs could have passed and you still may not have got the apartment.

    The current bookings are under phase 2 which has CMDA approval. The fact that the subvention scheme is till possession is the comforting factor. Had it been a time bound scheme say like 1 or 2 years then one could still have the fear of delays in completion. This project is also attractive because of its location, (my opinion) and priced attractively compared to other projects around it. 3 Km's away ASV Alexandria'is charging 5400-5800 per sq ft,Appasamy is charging 4999/-, Malles somewhere around 4600-4800 (haven't checked myself-heard & its opp Indiabulls Greens)...
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  • Originally Posted by vjkrish
    The project started years back and its still under-construction. The agreements are one-sided. People I know have lost money trying to cancel their booking amt in this project. Its not for a reason that it feels attractive at this price-point.


    I think you are referring to some other project. This project phase 1 is getting delivered in June 2013. Phase 2 work is on and are projecting 30 months as maximum time for completion.

    As far builder agreements are considered no developer makes a 2 sided agreement - it's always one sided...check any builders agreement and you will understand what I mean.
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  • Phase

    Why would i refer to some other project when the discussion is about Indiabulls Greens ?

    A know a person who booked in phase 2 and had to cancel the booking after holding onto it for more than a year because approval for 19 floors in phase 2 hadn't come through then. He lost more than lakh from his booking amount of 6 lakhs.

    Phase 3 cancellation and refunding is another scam like Vens pointed. I have personally read the application form when I was asked pay the booking amount and backed out as it was ridiculously one-sided. You should read the initial posts in this thread. I have seen builder's agreements and none come close to Indiabulls (unless they have changed it recently)

    You should also read abt Indiabulls in the internet. For eg. read abt a first hand account here:

    Real Estate Cheating by IndiaBulls Greens, Chennai

    No one is a saint here. Maybe there is a reason for selling it cheap and I urge you to understand this inherent risk, have a plan for mitigating it.
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  • Originally Posted by vjkrish
    Why would i refer to some other project when the discussion is about Indiabulls Greens ?

    A know a person who booked in phase 2 and had to cancel the booking after holding onto it for more than a year because approval for 19 floors in phase 2 hadn't come through then. He lost more than lakh from his booking amount of 6 lakhs.

    Phase 3 cancellation and refunding is another scam like Vens pointed. I have personally read the application form when I was asked pay the booking amount and backed out as it was ridiculously one-sided. You should read the initial posts in this thread. I have seen builder's agreements and none come close to Indiabulls (unless they have changed it recently)

    You should also read abt Indiabulls in the internet. For eg. read abt a first hand account here:

    Real Estate Cheating by IndiaBulls Greens, Chennai

    No one is a saint here. Maybe there is a reason for selling it cheap and I urge you to understand this inherent risk, have a plan for mitigating it.


    I've booked a 3BHK 1750 sq ft apartment at Rs.4000/- (basic price). I have opted for 20:80 scheme. I paid 20% + service tax in one go. Other charges need to be paid on possession.Once the cheque is cleared they will sign the agreement. I will also be getting a gold coin which will be 1% of the value of price...meaning my flat value is (Rs.4000/- * 1750 sq ft = Rs.70 lacs) so gold coin will be of Rs.70,000/- worth. The gold coin will be handed over once the builder receives 30% from me / financier.

    Cancellation clause is very loud and clear in the booking form itself. I dont understand why refunding money is considered as SCAM. Not paying up money on some pretext or the other would be more worrisome. Yes it would be a scam if money was refunded and in short period they launch the project again with escalated prices.

    Regarding the internet, 1 or 2 cases alone should not be relied upon. But yes that should help one be cautious on the points raised in the complaint.
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  • Congrats

    Congrats on your purchase. Hope this works out well for you. If you are clear and have assessed your purchase diligently, then it should be fine. My intent was to just make you aware of the risks so that you have your bases covered.

    Have a few questions, would be grateful if you can answer these:
    a) are they charging extra for the 20:80 scheme or is it 4000 per sq.ft for all cases
    b) Is the 20:80 scheme capped at 2 yrs or is it applicable till possession of flat ? who decides when construction is complete by all standards ?
    c) would we be able to switch over from indiabulls (financing) to a nationalized bank once possession is made (or, are there clauses governing these?)
    d) is phase-2 approved for 19 floors or is it at 6 floors as before ?
    e) do they still have a plan for phase-3 (or) have they made this aware to you?

    All the best !
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  • Congrats on your purchase .But please make sure whatever they promise is given in writing including the promise of a Gold coin.All the Best.

    Originally Posted by princecharm
    I've booked a 3BHK 1750 sq ft apartment at Rs.4000/- (basic price). I have opted for 20:80 scheme. I paid 20% + service tax in one go. Other charges need to be paid on possession.Once the cheque is cleared they will sign the agreement. I will also be getting a gold coin which will be 1% of the value of price...meaning my flat value is (Rs.4000/- * 1750 sq ft = Rs.70 lacs) so gold coin will be of Rs.70,000/- worth. The gold coin will be handed over once the builder receives 30% from me / financier.

    Cancellation clause is very loud and clear in the booking form itself. I dont understand why refunding money is considered as SCAM. Not paying up money on some pretext or the other would be more worrisome. Yes it would be a scam if money was refunded and in short period they launch the project again with escalated prices.

    Regarding the internet, 1 or 2 cases alone should not be relied upon. But yes that should help one be cautious on the points raised in the complaint.
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