I have booked a falt with Doshi Builders at their Tambaram project Nakshtra and paid advance payment of 5.25 Lacs during Sept'08. I have been asking them to provide the parent document to process my loan and they could not provide the same. Now I have cancelled the booking but they are demanding that they will deduct 10% of the booking amount as cancellation fee which works out to Rs.52500. I have sent letters and mails but they do not reply. I ahve also requested them to return Rs.4.75 Lacs but till now they are not doing so. None of the senior management officals are available for discussion and every time I am directed to speak to the customer care department. Please not I have also note signed any agreement till date with them. As I do not want to loose my hard earned money 5.25 lacs sugeest me how to move forward.

ananth
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  • Originally Posted by Nataraajg007
    Doshi builders like any other builder is finding very difficult now to sell the flats.

    That is why they make all dramas


    I was only feeling Doshi is one of the class I builders lin Chennai like Jain, Vijayshanthi, Ceebros, Alacrity ( not operative now? ), Vasanth etc. etc. I do not know whom to believe and trust now? The poor buyer will be taken for a ride very easily in the RE market today. Some years ago, I was really enthused when Alacrity was giving life time warranty for their projects and at those times, who would ever thought that Alacrity may close down and what will happen to the life time warranty? Today, it is only on paper, only relief could be that the constructions of Alacrity were so good, there might not be really any need to fall back on warranty that would be required now or during the normal expected life span of the flats, say 30++ years.

    ks2071746
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  • Originally Posted by vijai5
    All builders are facing the same problem.they made huge profits all these years.so they have to reap what they sow.


    Dear vijai5,

    Only a little correction in the old saying you have quoted here- THEY HAVE TO REAP WHAT THEY SOW- " They sow and then make others to reap if it is not beneficial/advantageous to those who sowed the seeds"

    ks2071746
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  • Originally Posted by ks2071746
    I was only feeling Doshi is one of the class I builders lin Chennai like Jain, Vijayshanthi, Ceebros, Alacrity ( not operative now? ), Vasanth etc. etc. I do not know whom to believe and trust now? The poor buyer will be taken for a ride very easily in the RE market today. Some years ago, I was really enthused when Alacrity was giving life time warranty for their projects and at those times, who would ever thought that Alacrity may close down and what will happen to the life time warranty? Today, it is only on paper, only relief could be that the constructions of Alacrity were so good, there might not be really any need to fall back on warranty that would be required now or during the normal expected life span of the flats, say 30++ years.

    ks2071746

    ks2071746

    KS, that was news to me. Alacrity is dead? Can you throw more light? I will anyway search the web for these guys.
    As for the discussion, in India rules are not enforceable. SO builders are not the only ones who cheat or get cheated, as ABK said airlines, cars etc also follow similar principles. Right or wrong, MIGHT IS RIGHT always.
    Cheers.
    {S
    It is amusing to see someone talk of 70% correction. And another (Sethu) talking of India, Malaya, Singapore (matrum pala nadugalil) as if it is GOpal Palpodi advt. I bet Sethu would not have travelled even to the next city!
    In US, price of a house I know of and am tracking has fallen from about 680K USD to 520K USD in the past 2 years and I am talking of LA suburb. THat is hardly 25% in a terribly recessionary market.
    In India that number will be the maximum fall of LAND PRICES in prime localities, read cities. SO in Mylapore if price in 2008 April was X, it will atbest fall to .75X. Infact I think it might actually only go to .9X. OFcourse unlike in US there are no genuine evaluators in India so prices can be extremely different in the same street.
    Now if you want to genuinely buy property then you can use above thumb rule. If you want to genuinely sell property again use the above rule. If you want to just hope that Maligai (Palace) will be made available to PItchakaran (Beggar) then believe Sethugm!
    IN the outskirts prices will stabilise and will probably go to -30% for land. NOw for flats prices can fall much more as the builders have TOO MUCH PROFIT In India. So a fall of 50% is not ruled out.
    NOW DID IT SAY IT WILL FALL? NOT AT ALL. I said if it falls these will be the highest values. As far as I know land value in MYlapore or prime places h as not fallen one bit, rather has been increasing slowly. In developing places like Saligramam or KOttivakkam they are shooting up. In URapakkam and Tiruvallur they are stabiising. Even this Sunday I saw someone quoting 580psft for land almost somewhere in Chengalpet. PRices fallen is a myth, falling is a want. However if it does fall then my limits might be the test.
    Finally dont forget. If prices fall then your salary will also CRASH. So dont pray for the fall as you will not h ave a salary to pay for it even then, if you cant do it today. Dont aspire for what you aint worth! LEave that to jokers like WIseman and Sethugm. Cheers.
    PS. Might need not be physical, nowadays it is mostly mental!
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  • OOps a lot of junk from an original post got added. THink some keys produce them!
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  • I agree with the fact that a cancellation fee is mandatory but this is applicable when a person moves from a ongoing project not a dead investment or deal which is stagnant.

    Either ways Disputing with these fellows leads futher drain of money and brings frustration.
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