Announcement

Collapse
No announcement yet.

Lodha Casa Bella by Lodha Group in Dombivli East, Mumbai

Collapse
X
Collapse

Lodha Casa Bella by Lodha Group in Dombivli East, Mumbai

Last updated: March 20 2017
1252 | Posts
  • Time
  • Show
Clear All
new posts

  • Re : Lodha Casa Bella by Lodha Group in Dombivli East, Mumbai

    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?

    Comment


    • Re : Lodha Casa Bella by Lodha Group in Dombivli East, Mumbai

      Originally posted by PKAKKAD View Post
      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.

      Comment


      • Re : Lodha Casa Bella by Lodha Group in Dombivli East, Mumbai

        Originally posted by rajatcasa View Post
        thats good news if its true as things are slowly moving now.
        Ditto ! great news indeed - pls do let us know...Thanks

        Comment


        • Re : Lodha Casa Bella by Lodha Group in Dombivli East, Mumbai

          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 .

          Comment


          • Re : Lodha Casa Bella by Lodha Group in Dombivli East, Mumbai

            Originally posted by Beachking View Post
            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?

            Comment


            • Re : Lodha Casa Bella by Lodha Group in Dombivli East, Mumbai

              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.

              Comment


              • Re : Lodha Casa Bella by Lodha Group in Dombivli East, Mumbai

                MVAT

                Here is an Email tht i had sent to Lodha Customer Care to check on MVAT situation:

                Hi XXXX

                I have received a letter dated 4 January 2011 from Lodha demanding to arrange for MVAT payment. I have registered my property before 1st April 2010 and do not foresee any liability to arrange for the payment of MVAT.

                I also have consulted few people (who have registered their property before 1st April 2010) including a Chartered Accountant and a Lawyer and have been advised that i need not have to arrange for this payment whatsoever. Also the recent circular is for 1% MVAT payment which has to be paid at the time of registration of your property. I do not know from where you have arrived at this figure of 5% MVAT.

                If you still insist that their is a potential MVAT applicable to buyers who have registered their property before 1st April 2010, then please furnish me with Government resolution with a circular number.

                Also, i was disheartened and disappointed while having tele conversation with you today. Especially, when you where insisting that this is a possession formality which i have to complete. I would like to know if you are saying that i will not be handed over possession of my flat, if i fail to deposit this amount in Yes bank with lien to Lodha. First of all this is an indirect tax which you are trying to levy upon your customers. Secondly if this is payable by the customer, then why can't we wait till the actual decision is released ?

                I would require a clarification on all highlighted points as soon as possible.


                Satish Bangera

                Reply Received:-

                Dear Mr.Bangera
                Greetings from Lodha!!

                As discussed there is petition for 5% Mvat which is still pending for decision.
                So we have asked customers to make Fixed deposit for 5% Mvat amount in applicant's name in nearest Yes Bank or any other nationalised Bank.

                Below is criteria to make Fixed Deposit:

                • Fixed deposit will be in lien with Lodha Dwellers Pvt Ltd.
                • Term of Fixed Deposit will be 3 Years
                • Fixed deposit should be auto renewal.

                Once Fixed deposit is done kindly provide us the photo copy of FD receipt.

                • If court decision is in customer's favour then after informing Lodha, customer can break FD amount and amount along with interest will belong to customer.
                • If court decision is applicability of Mvat to customers, then FD will be break up after intimating customer and amount will be paid to Government.


                Below is legal opinion:

                Applicability of VAT

                * 5% tax is leviable under the ' Composition Scheme' on the "Total Contract Value"( Ref. Section 43(3)(a) of MVAT Act, 2002 in respect of agreements registered prior to 01/04/2010. Thus, the 5% tax is payable on entire "Contract value" under the 'Composition Scheme' without eligible for any deduction under the provisions of law, including deduction of value of land. Relevant section is attached herewith.

                * In other words, deduction in respect of value of land is not available under the 'Composition Scheme'. The deduction of value of land is available if the contractor has decided to discharge his tax liability under the "Taxation method".

                * MVAT for registrations done prior to 1st April, 2010 is subjudice in the High court and in all probability will go to the Supreme court. Therefore, we are asking all such clients to deposit 5% of CV into Fixed Deposit with a lien to Lodha. We have been advised to do so by our taxation consultants. If the court upholds the levy, there may be a penalty for non payment of MVAT and also interest for delayed/non-payment. Therefore, keeping the customer’s interest in mind, we have been advised to request fixed deposits.


                Please feel free to call for any clarification.

                Thanks & Regards,

                Comment


                • Re : Lodha Casa Bella by Lodha Group in Dombivli East, Mumbai

                  Originally posted by keithbraganza View Post
                  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.
                  If you are getting 75% from your original booking amt, release this and move to Panvel. If you want to stay in it for personal use then its a different story. If this is an investment its done with appreciation.
                  If i had invested in this property i will plan to move out now. I am not sure since when you have parked your money in this project. But if you had invested in Panvel area since Oct-2010 its has increased from Rs3100 to Rs 4500. And i feel those are going go upwards but will never come downwards..I know this is a seperate topic of discussion.

                  Comment


                  • Re : Lodha Casa Bella by Lodha Group in Dombivli East, Mumbai

                    Originally posted by keithbraganza View Post
                    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.
                    do you own a flat in magnifica??? If yes then pls check with customer services as my customer service rep told me they are busy giving away possession letters to customers of magnifica...

                    Comment


                    • Re : Lodha Casa Bella by Lodha Group in Dombivli East, Mumbai

                      Possesion

                      Thanks Mr Kakkad.As i am outside the coutry at present i did receive an email from lodhas today asking to provide details of the electric meter.Furthermore they have also added that the first few towers are complete and my appartment is due for possesion soon although they have not mentioned any date or month for that reason but i reckon it will be end jan or mid feb 2011.That really is great news and i am absoultely thrilled at this.I am also happy that this forum is alive and kicking and i was following it all the way.Now that i am about to get possesion my mind is at peace .beachking thanks so much for the advice by i guess i will hold on to this property as i have a gut feeling that dombivli is going to be the city of the future so i will hold on to it for sometime.

                      Comment

                      Have any questions or thoughts about this?
                      Working...
                      X