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- Hi aksrikumar;
Can you please share the builder's name and the project. This would help others to be aware of the project statusCommentQuote0Flag
- I am in same boat I have taken one 2 bhk. In reliance hill view Chembur through them they have promised for discount but not fulfilled also said that they will help for resale but now not giving any attention towards it they already took the profit in rate and now rate is not appreciating any more just bewareCommentQuote0Flag
- So if the rates would have gone up you would have been happy with the profit. But now since there is no increase you feel you have been cheated. GreatCommentQuote0Flag
- I think almost all the projects marketed by indiabulls is stucked like akshar green in airoli,hill view in Chembur,some project in Powai,Panvel and Andheri West now they are not entertaining to those from whom they earned brokerageCommentQuote0Flag
- I was close to booking a project of Sai builders in Goregaon through Indiabulls Distributors and thankfully i did not go ahead at the last minute. This was 2 years ago and the building is still stuck at the same level. Probably a floor or two must have been added since then.
The issue here is that Indiabulls Distributor just markets the project by sweetening it with talks of due diligence, approvals in place, brand name, escrow etc. All they do is to get back their (parent company IndiaBulls) money which they have lent to the builder in the first place in addition to commissions as mentioned above. Once a buyer gets in, he is stuck as 60-70% of the payments are collected upfront by citing 'x floors have been completed' and subsequent to which Indiabulls Distributors washes their hand-offs by not entertaining buyer's problem. They can afford to as there is no tripartite agreement (buyer-builder-Indiabulls) to protect the buyer.
My advice to all readers is just stay away. There is no need to take problems of others (i.e. Indiabulls, in this case) by paying your hard earned money.CommentQuote2Flag