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Lodha Builders, Kanjurmarg, Mumbai

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Lodha Builders, Kanjurmarg, Mumbai

Last updated: January 20 2012
20 | Posts
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  • #11

    #11

    Re : Lodha Builders, Kanjurmarg, Mumbai

    Carpet Area Fraud

    Lodha is cheating on carpet area. They actually calculate the walls etc. as part of carpet area. If you grill them, they agree that they do not calculate carpet area as per legal definition. They use an internal approach which is confidential. The difference between the actual legal carpet area and what they promise is 10% to 15%

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    • #12

      #12

      Re : Lodha Builders, Kanjurmarg, Mumbai

      they show you a merc and sell you a santro!

      Guys I believe the owner is a MLA or something himself...they have only got time to give their bytes on Times Property...where was this group even 7 years back and now all of a sudden they are coming up with projects all over the place...guys pls use ur judgement and dont get floored by the sample flat..he shows you a merc and sells u a santro :-) thanks to this post i am glad about my decision to stay away from them.

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      • #13

        #13

        Re : Lodha Builders, Kanjurmarg, Mumbai

        Lodha aurum - kanjurmarg delayed start

        I've been tracking this project for some time (but haven't booked a flat yet) .. there are three problems i've noticed:
        1) No clarity on why infrastructure cost is being charged(please shed some light if there is any rationale behind it)
        2) The construction (excavation) was supposed to start on dussehra but hasn't started yet. I heard some shit that it was raining, etc.. but the rains have stopped like a week ago
        3) Also the railway track is very close (and so is railway station ), so there is real chance that the noise of the trains (at least long distance ones) will cause problems. (I actually stood on site for 15 min, on the proposed "podium" its there for sure)

        On the positive side though:
        1) The rates are slightly lower than in the surrounding area (mulund, etc)
        2) The western suburbs are easily accessible via JVLR. The central suburbs and new mumbai is also pretty accessible via eastern express highway
        3) Its lodha .. so there is some guarantee that the project will be delivered with satisfactory quality and they will be professional (though the car park is being charged in black.. which makes it dicey)
        4) Its close to a railway station

        Please share any experiences.. Thanks..

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        • #14

          #14

          Re : Lodha Builders, Kanjurmarg, Mumbai

          Lodha group

          I was firmly under the impression Lodha are reputed builders and are very professionally run, besides the fact one of their top honchos has also stood in for the recent state elections in S. Mumbai. So hopefully they would not like any untoward tarnishing of their image, frankly and hopefully am not being naive considering all that is being said here, as i too have invested in their project in Dombivili. would recommend we get together as a group and address our concerns to them directly as alone we are likely to get fobbed off. can i please get some comments on this?

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          • #15

            #15

            Re : Lodha Builders, Kanjurmarg, Mumbai

            I agree

            Originally posted by priyamvarghese View Post
            I had gone for enquiry. When I was told 5 lakhs need to be paid in black, I told this is not possible as we want the cumulative final amount (including parking) to be entered in the Agreement, otherwise we will get less loan sanction and also when we sell we will attract capital gains on that amount also. He told some bakwaas reason like we cannot sell parking etc- I told who is asking u to write like that, write in the agreement that along with the house, we will be provided a podium parking.

            He later told me (after i insisted) that he will speak to management and take this in cheque only and enter in the agreement.

            You tell that you will have to consider legal way if he doesnt agree.

            I agree with you guys - Jago everyone, make sure we get value for our hard earned money from these cheaters.

            I too visited the site Casa Bella and found their rates for choosy flats comes to be 30% higher than advertised rates, so cancelled the plan.

            I think we should have buyers association and everyone should ensure not to buy for another six months, automatically all these builders and their chamche investors will come down with price, then we can slowly start buying at aoofordable, realistic price.
            so guys - dont buy any property until Mid of 2010 and you have chance of buying at atleast 20 to 30% lesser that time. This is fair savings.

            Cheers.

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            • #16

              #16

              Re : Lodha Builders, Kanjurmarg, Mumbai

              Full agree

              Originally posted by tukaramdhage View Post
              I agree with you guys - Jago everyone, make sure we get value for our hard earned money from these cheaters.

              I too visited the site Casa Bella and found their rates for choosy flats comes to be 30% higher than advertised rates, so cancelled the plan.

              I think we should have buyers association and everyone should ensure not to buy for another six months, automatically all these builders and their chamche investors will come down with price, then we can slowly start buying at aoofordable, realistic price.
              so guys - dont buy any property until Mid of 2010 and you have chance of buying at atleast 20 to 30% lesser that time. This is fair savings.

              Cheers.
              Totally agree with you tukaramdhage, but how do we get started? count me in for starters.

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              • #17

                #17

                Re : Lodha Builders, Kanjurmarg, Mumbai

                Lodha Casa Univis Project is in a mess!

                Originally posted by sweetcrude View Post
                Casa Univis project is getting delayed, would like to discuss regarding the issue
                Part of the land is under litigation and hence the delay

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                • #18

                  #18

                  Re : Lodha Builders, Kanjurmarg, Mumbai

                  Originally posted by fray54 View Post
                  I was firmly under the impression Lodha are reputed builders and are very professionally run, besides the fact one of their top honchos has also stood in for the recent state elections in S. Mumbai. So hopefully they would not like any untoward tarnishing of their image, frankly and hopefully am not being naive considering all that is being said here, as i too have invested in their project in Dombivili. would recommend we get together as a group and address our concerns to them directly as alone we are likely to get fobbed off. can i please get some comments on this?
                  I just now book the flat at casabella gold....but after reading all the comments i am very much afraid of my decision....do u think lodha will keep all the promises.....pls help

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                  • #19

                    #19

                    Re : Lodha Builders, Kanjurmarg, Mumbai

                    Hey rups1702, I have also booked a house in casbella gold.
                    Can you drop me a mail on kirangshotmail.com
                    Would like to speak to you regarding the same.

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                    • #20

                      #20

                      Re : Lodha Builders, Kanjurmarg, Mumbai

                      How do believe a liar who sometimes tells the truth

                      There are standard tactics used by builders to induce artificial demand including alloting property to related parties.If you go through the list of names , you would find strange ones like rajesh estates etc.Actual demand seems to have flattened on account of the 30% rise in prices.The media (including TOI and TV channels) and Govt/RBI seem to be acting more as a agent of the builders. RBI can easily cool off the residential market by raising Risk weight on Loans above 50L to painful levels like 200% which they are not doing.As a result, we are suffering

                      Please check the article below :

                      ]http://www.moneylife.in/article/8/3383.html[/URL]


                      The developer has claimed sales figures in the third quarter of this fiscal which are almost equal to the sales figures of entire Hyderabad city for the same period

                      Real-estate developer Lodha Group claims to have sold approximately 4,000 units in the third quarter of FY10 according to industry analysts. Ironically, the sale reported by the developer is equal to the figure reported by entire Hyderabad city in this quarter.

                      Lodha’s numbers have been questioned by industry experts. Earlier in 2007, the group launched a luxurious residential complex named ‘Lodha Aqua’ at Dahisar in suburban Mumbai.
                      The developer claimed that on the very first day of the project launch, it sold 300 units at Rs5,850 per sq ft (comprising two bedroom, hall & kitchen (BHK), with an area of 1,017 sq ft and 3BHK with an area of 1,395 sq ft). In December 2009, the group jacked up the price for the project to Rs6,399 per sq ft. However, in 2010, the developer is aggressively advertising the same project as a fresh one.
                      If the developer has already sold 300 units on the first day of the launch three years back, why is the company spending so much on advertising? The group is busy coming out with full-page advertisements and is booking prime advertising time on various channels to promote the project. Moneylife sent an email to the company on the issue. However, it remained unanswered until Monday evening.
                      During the third quarter to end-December, the real-estate industry has reported sluggish sales in Mumbai. In Mumbai and Delhi, the major real-estate markets in the country, there has been very little movement during the quarter. “Rents in the NCR further depreciated to reach their lowest level in the past two years, which also provided an impetus for corporates to lock in leases at existing rents,” said Jones Lang LaSalle Meghraj in a report.
                      Despite the quarter falling in the festival period, Mumbai reported lower sales as developers spiked prices. The increased property prices made actual end-users withdraw from the market. According to an industry expert, during the third quarter, property sales in Mumbai fell by around 20% compared with the previous quarter.
                      Most of the real-estate companies that faced a severe liquidity crunch in September 2008 have raised funds and de-leveraged their balance sheets. A spate of events since January 2009, starting with an RBI debt-restructuring package for real-estate companies, asset sales and fund-raising from capital markets have alleviated the liquidity concerns for the sector.
                      “Amid a slow revival in the residential segment and a nascent commercial space recovery, we are underweight on the real-estate sector over the medium term. Though liquidity has improved for real-estate players, growth and valuations remain a concern in (the) medium term,” said ING Investment Management (India) Pvt Ltd, in a report.
                      With ample availability of funds, realty developers did not bother to cut property prices as expected by the central bank. This has resulted in erratic monthly sales. The sector showed signs of some recovery after July 2009. However, after that, sales dropped due to stiff property prices. The zigzag movement of real-estate sales is slowly mirroring the situation in 2008, when it was hard to report sales by the industry, concluded an industry insider




                      Generally,

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