Hi ,
I have booked a shop in indiabulls panvel shopping mall-1. wanted to know the opinion of the forum and also good idea to get connected with those who have booked or thinking to book here.


Regards
Ashky
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  • have received cancellation + refund letter. Has anyone else received it.


    Ash
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  • Originally Posted by ashkharoo
    have received cancellation + refund letter. Has anyone else received it.


    Ash

    Thats Bad news!!! means we have to go somewhere else to shop!!!. IB will again build more buildings.what is the problem with permission?
    ashkharoo could you throw some more details please?
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  • It could be some what Nextzone has done. converting commercial / sez land to residential.
    reason been builders get commercial / sez land very cheap and then they de notify or convert them to residential and get higher benefits from selling flats.

    Looking at Indiabulls reputation, they may not do that as it may hamper there reputation.

    could be tht since approvals are taking time, they want to refund the money back to investors and may be in future re-launch the project. Note as per the rules they cann't hold back investors money for more than 2 years if there has been no construction / agreement.







    Originally Posted by bolara
    Thats Bad news!!! means we have to go somewhere else to shop!!!. IB will again build more buildings.what is the problem with permission?
    ashkharoo could you throw some more details please?
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  • i have also received cancellation mail
    i would like to know what we should do in this case
    we know as per latest master plan it is located in phase 1 then why cancelled our booking?
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  • same case i received my cancellation + refund letter.
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  • I too recieved cancellation letter!

    @pra123abc
    How can we make sure that the the mall is still part of masterplan phase1?

    Is there anything fishy?
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  • Hi guys,

    I booked a unit in India Bulls Mega mall in Dec 2010. Now after three years, they are saying there is no approval from the government for the Mega mall. Hence they are refunding the money with 6% interest.

    I am confident that such a big property will have a Mega mall coming up in near future. There might be a possibility that they want to sell the same units for a higher price in future and that may be the reason for cancellation of our bookings.

    Any idea how to tackle this issue? Should we take the refund or no ?
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  • I agree with dominip they will not be okay with the prices they have sold us the slots.
    I think we should meet and discuss what we can do.
    Whoverer are willing, please respond here or PM me with their phone number or email id if they are okay.

    Let's not waste time.
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  • They are offering phase II flats 4500/-plus parking plus club chgs for cancelled shops
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  • Mega Mall

    As mentioned earlier, thy will sell malls in higher rate or may launch it under lease plan.

    Phase 2 for 4500 psf. Are they kidding.
    The time wh we invested in mall, the rate for residential were 2500 - 3000 psf. It should be offered in the same range bracket or should move to luxury segment with rate range 3000-4000 psf.


    Also there should be an agreement, tht if in future indiabulls plans mega mall, it should first give preference to cancelled letters and offer at the rate which was booked in 2010.
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  • I agree to ashkharoo. I think we should be offered a flat in India bulls green with its rate same as the market rate which existed during the mall booking.

    Lets just get together to arrive at a solution.

    Kindly get in touch
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  • Visited Panvel site as a new buyer ...sales guy showing this is a place were mall will come..Lets fight together because mall is going
    to come and V r being made fool with 6 % money back.
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  • Guys i too have got a cancellation and refund letter. So whats next step? I think they will lease or re lauch the project.
    The reason stated in the letter was they have not got the permission from CIDCO, should we check with CIDCO about the approval or cancellation of the said premises?

    Please share the contact details i see something fishy.
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  • Hi everyone !! I happen to be a victim of Indiabull's bull shitting. I have a retail outlet booked in the Mega Mall in Greens Panvel. They have tentatively agreed to give me a flat in lieu of the retail outlet. But my argument is, since they are going in for the mall, why should I opt for a flat. I have paid 20% of the cost. The last 10% was paid upon commencement of work (atleast that's what I was told). I think they have become greedy and do not wish to sell the retail outlet at the agreed rate when the rate seems to have gone up threefold. I think we should all get together. I can provide my contact details...
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  • Dear All,
    I agree to above point. Lets plan in a group, so that we can come together and check what we can do.
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