Sort by :
Filter by :
- Originally Posted by darkhorseThere's quite a few posts on the forum saying that the land is agricultural. I had personally checked the landowner documents when I had booked here and it said that the land belonged to a political trust. The same politician who has an office at the location. From what I understood at that point in time, the approvals required where for converting the trust land into residential use, getting approval from the highway department as the site if adjoining the highway and forest approval as quite a few trees on the plot. At no point was it mentioned that the land is agricultural.
Its from the builders office i learnt its agricultural land. you can check from the documents. it still not recd N.A.(non agricultural); which is must before starting residential activity. the land owner for phase 1 is (Shiv Shakti Mandal) the political thing u mentioned. they bought farm land long before. But the contacts they have; its believed they will take NA status soon.CommentQuote0Flag
- Originally Posted by authenticAre you sure ?? .. Because I've booked a flat in A wing 12th floor, and I'm a bit worried now with all the rumors surrounding this project . The last update that I got from an agent was some of the investors are already selling their flats at 4500 in Phase 1.However ever he was not sure about the launch date. Also,the Phase 1 bookings are closed as it is sold out.
Its surely a long term investment; if you wish to get good returns. As it has not got major approvals. Its only builders reputation one can rely on. The builder has good track record in the industry. Anyways if u feel like its taking too long you can quit after 1.5 yrs of booking after recieving 15% return; its written in allotment letter. Actually its all political setup for getting approvals. Elections are also round the corner; so it takes too long for approvals.CommentQuote0Flag
- Hi Friends............Gud News for Property Purchasers ................ Pls Read it.
UNION CABINET APPROVES REAL ESTATE REGULATORY BILL...................!
Stock/Share Market Investing - Live BSE/NSE, India Stock Market Recommendations and Tips, Live Stock Markets, Sensex/Nifty, Commodity Market, Investment Portfolio, Financial News, Mutual Funds
Date : 05 June 2013
The Cabinet on Tuesday approved Real Estate Regulatory Billthat is expected to bring about a sea change in the business practice of real estate developers. Implementation of the same will take time as it involves land and land is a state subject. If you are looking to buy a property, here's how you will benefit when the Bill becomes a law:
• Developers can launch projects only after getting all relevant clearances.
• Developers cannot offer any pre-launch sales without the regulatory approvals.
• Authorities have 15 days to approve or reject a project.
• Construction to begin only after the developer's website has displayed all details of
the project including receipt of clearances.
• The buyers are entitled to full refund with interest in case of delay in projects.
• Realty developers will have to maintain a separate bank account for every project
to ensure funds raised for one project is not diverted.
• It will be mandatory to keep 70% of the buyers’ funds in a separate bank account
to ensure timely completion of projects.
• Developers cannot take more than 10% of the advance from buyers without a
• Builders will have to use photographs of actual site for advertisements purpose.
Failure to do so will attract a penalty which may be up to 10 percent of the project
• Repeat offenders may land in jail.CommentQuote1Flag
- Below link also informative in regards of REAL ESTATE REGULATORY BILL........
(Govt gives you shelter from realtor, broker - India - DNA)CommentQuote0Flag
i just calll from builders office. they said IOD for phase 1 is expected by july. phase 2 selling has just started. they have kept model of there plan in office and i ll be visitng their santacruz office for further details.CommentQuote0Flag
- Originally Posted by saubhagyaIts surely a long term investment; if you wish to get good returns. As it has not got major approvals. Its only builders reputation one can rely on. The builder has good track record in the industry. Anyways if u feel like its taking too long you can quit after 1.5 yrs of booking after recieving 15% return; its written in allotment letter. Actually its all political setup for getting approvals. Elections are also round the corner; so it takes too long for approvals.
Yes, its long term...now every project takes about 4-5 years to complete...so by the time riyo comes up the scenario could be anything.CommentQuote0Flag
- If the IOD approval is expected to arrive by July, would they be asking for another 10% payment shortly after that? If yes, how much time do they typically provide, and is there a penalty for late payment?CommentQuote0Flag
- Originally Posted by rinku1983If the IOD approval is expected to arrive by July, would they be asking for another 10% payment shortly after that? If yes, how much time do they typically provide, and is there a penalty for late payment?
You are thinking too far ahead my friend. Hold your horses, what a builder says and what actually happens are two very different things.CommentQuote0Flag
- period given is 1 month.... and even if the project does not take off, u can be assured that u will get all ur money back since its all white payment.... so atleast theres no risk of losing money. as far as i know the builder is reputed and completed many projects.... rest everythin is in Gods hand :-)
if a big project like DB can get stuck then anythng can happen.... lets be positive...... anyone going to buliders office anytime soon?
i am mostly going on friday.CommentQuote0Flag
- Project is hotting up to be officially launched!!!!
Things are shaping up as was promised.CommentQuote6Flag
- finally something to answer to the people who doubted its credibility :-) still a longway to go, but good start :-)CommentQuote1Flag
- would love to see one hoarding at site...CommentQuote0Flag
- Wow that's a great feelingCommentQuote0Flag
- Great... nice to see board at site.... if this photo is genuine.... I was visit ed site on 2nd june...but hoardings was not there.... kp updated..CommentQuote0Flag
- Originally Posted by JoelprinceGreat... nice to see board at site.... if this photo is genuine.... I was visit ed site on 2nd june...but hoardings was not there.... kp updated..
Its actually gr8 feeling to see the board.. but thats not at site.. its actually at the corner of mira bhyander road.. still long way to go..CommentQuote1Flag