They claim to complete the first phase of the project by Sept-10. I have been reading the media articles that around 250 units are booked on the very first week of opening. The price at 1998/sqf- Superbuilt up area. Is this worth buying ? Has anyone booked the flat here ? Learnt that Lodha is a reputed builder.
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  • Originally Posted by fundoo158
    i second this info...I have also got same news...but didn't see any point in discussing here...as when it comes to putting words spoken here into action & come up together & make some coherent group...ppl just hide behind & sit in the comforts of their home....

    I guess we might unearth far more issues once possession dates approaches...Lodha is taking things as if they are the boss and we are hostages...



    A group was already made of members of Excellencia in past and lost of discussion were held with Lodha management...

    result...

    "We will give by the revised dates of Possession".......and group of almost 40 people became silent after that....

    Problem is that builder is confident of giving possession and it is hardly delay of 1 year from proposed dates.....which is normal thing in any case....

    The worrying part is their attitude towards customers.....they should openly tell about problem...however they hide the things and therefor worry...

    Further SBI, HDFC all disbursed loans amounting to 1 lakh to lodha.....I don't understand this point....can anybody guess how without approval the two big banks disbursed initial amount......
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  • I am not concerned abt delayed possessions...but approvals..

    My customer rep told me that approvals are not in place...and thereby so much delay is getting caused ...

    Forget abt banks disbursing money...what kind of shoddy works these bank ppl do these days is known to all....Sab mile hue hai...

    Our concern should be about approvals....at the 1st stage...

    Originally Posted by jaysingh_r
    A group was already made of members of Excellencia in past and lost of discussion were held with Lodha management...

    result...

    "We will give by the revised dates of Possession".......and group of almost 40 people became silent after that....

    Problem is that builder is confident of giving possession and it is hardly delay of 1 year from proposed dates.....which is normal thing in any case....

    The worrying part is their attitude towards customers.....they should openly tell about problem...however they hide the things and therefor worry...

    Further SBI, HDFC all disbursed loans amounting to 1 lakh to lodha.....I don't understand this point....can anybody guess how without approval the two big banks disbursed initial amount......
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  • bhai lodha mein kuch locha hai.

    Read this recent raid in lodha office:
    I-T raids Lodha Group for misreporting income - The Economic Times



    Originally Posted by fundoo158
    I am not concerned abt delayed possessions...but approvals..

    My customer rep told me that approvals are not in place...and thereby so much delay is getting caused ...

    Forget abt banks disbursing money...what kind of shoddy works these bank ppl do these days is known to all....Sab mile hue hai...

    Our concern should be about approvals....at the 1st stage...
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  • Originally Posted by chikkoo
    bhai lodha mein kuch locha hai.

    Read this recent raid in lodha office:
    I-T raids Lodha Group for misreporting income - The Economic Times




    its shocking but not to surprise as Builder Politician lobby itself is strong so he will come out clean with no harm.

    in this case lodha himself is politician..so we know what will be fate of issue.

    only fear should be once again delay in possession.

    all customer service Executives are away from office from yesterday and shall return on Thursday...may be raid can be a reason to keep away from IT people..
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  • MVAT

    Originally Posted by maj_kaushik
    Completely not understood. They have asked me 1 percent of consideraration value as MVAT


    I guess, Mr Kaushik must have bougt his flat after 1 April 2010 n hence he has been asked to pay 1% MVAT...........I also spoke with the CC of lodha today n they informed me that, they will not give me a possesion till i create a deposit for 5% MVAT with lien to Lodha............Its high time tht all the buyers have to come together n fight against this builder lobby.......
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  • Originally Posted by satz4u
    I guess, Mr Kaushik must have bougt his flat after 1 April 2010 n hence he has been asked to pay 1% MVAT...........I also spoke with the CC of lodha today n they informed me that, they will not give me a possesion till i create a deposit for 5% MVAT with lien to Lodha............Its high time tht all the buyers have to come together n fight against this builder lobby.......



    How come this 5% MVAT.

    I also received the letter and it was 1% of total consideration value {agreement value shown at SD and Registration) ...........
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  • Originally Posted by jaysingh_r
    How come this 5% MVAT.

    I also received the letter and it was 1% of total consideration value {agreement value shown at SD and Registration) ...........


    Hi All,

    Since CC is assuring of possession to few Clusters from Feb.

    Do share status of Building and entire possession process once you get it.

    As prima facie it does appear as it will be in position to shift as still lot of construction acitivty is going on around .
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  • IT Raids on Lodha

    Originally Posted by rajatcasa
    Hi All,

    Since CC is assuring of possession to few Clusters from Feb.

    Do share status of Building and entire possession process once you get it.

    As prima facie it does appear as it will be in position to shift as still lot of construction acitivty is going on around .



    Dear All of friends,

    I am reading all the quotes for long time. I would like to submit my views as follows:-

    1. I spoke to Mr Jairam, CC CBG. Everything is normal after IT inspection. He told me.

    2. As regards to possession delays, I think we should accept the fact that the delay is normal as it happens in all the cases of real estate. We should have horizon of atleast 2 yr of delay.

    3. The frequent changes in govt policies leads to addl taxes, levies etc which are finally have to be paid by the end users. Lodha got no say in that. So we must be ready to spend addl 1-2 lacs extra post booking till possession.

    4. Patience is the key in all spheres of life. So it is also applicable here. I think our focus should be on continous progress of the construction rather then imdt results. Till the time things are moving we should have faith in the Builders.

    5. Investment is a double edge weapon.

    6. As regards to funding by HDFC etc without approvals, actually they are also business oriented org. They want to enhance their customer base. But rest assured they will not disburse money to any unauth purpose/property.

    Any more views welcome
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  • pending approvals

    I agree with Fundoo158's remark. Yes our main issue should be about approvals pending on a few clusters. The reason for this delay or non availability of it is what should be of concern to us. Agree we need possession of our property asap, but what about the many who have invested in good faith and may come unstuck. we need to concern ourselves with the project in it's entirety and not just parochial issues.
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  • Mangnificaomer

    Hello everyone,
    I came to know that Lodha has started sending possession letters to customers owning flats in magnifica.

    Has anyone got the possession?
    if yes then how is the condition?
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  • Originally Posted by PKAKKAD
    Hello everyone,
    I came to know that Lodha has started sending possession letters to customers owning flats in magnifica.

    Has anyone got the possession?
    if yes then how is the condition?



    thats good news if its true as things are slowly moving now.
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  • Originally Posted by rajatcasa
    thats good news if its true as things are slowly moving now.


    Ditto ! great news indeed - pls do let us know...Thanks
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  • May not see appreciation

    I think thisd property may be good if you are looking for staying but not a good investment.....Not that i am against anyone .
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  • Originally Posted by Beachking
    I think thisd property may be good if you are looking for staying but not a good investment.....Not that i am against anyone .


    Beachking why do you think that this property is not good for investment?
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  • Possesion

    The news of magnifica possesion is alien to me as i havent received
    any initimation from lodhas with regard to the same.I was initially told
    possesion end dec-10,then end jan-11,now its been pushed back to
    end feb-11.Newayz i guess its better late than neva.
    Beachking's comment is pretty naive as rates at CB have nearly appreciated 75% since initial launch.I do hope all goes well with the
    project and all investors in this project get timely possesion of their flats.
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