Guys, this is a new thread for the buyers who have invested in Jaycee Homes' Bhagtani Riyo. You can discuss here if you have been facing any problems by the builder Jaycee Homes or with real estate agents who have been selling the project.
Welcome to share in and update each others knowledge.
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  • Good to know hoarding is back with coming soon tag... Long way to go.
    Still is it unclear why fencing was removed.


    KayJay, did builder tell you about 5 more months for approvals or it is your assumption.
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  • called the builder's office. was told there is a 'final delay of 5 months
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  • I think it's phase 1. For Phase 2 they are telling 12 to 15 months.
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  • Originally Posted by KayJay
    called the builder's office. was told there is a 'final delay of 5 months

    If you call AFTER 5-6 months then the they will say because of the change in government the collector or Tehsildar/Talathi got changed and it will take more time to get the permissions. They are NOT clear they wanted the money to be utilized for other under construction projects . Removing fence or board has nothing to do with construction. One can have Big board hired from municipality and can write that project XYZ..... It does not mean if one puts up a board or writes on board then they are going to start the project. It is just advertising to get more clients for the product. They are not clear at this time and the builder was not clear in the past. They are hiding a lot of information. If want to know hire your lawyer and ask for the "Search Report" of this project.
    .
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  • ‘Govt should protect early flat buyers from unfair developers’ - The Times of India
    MUMBAI: Rogue developers around the city are making a killing while victimizing people who book their flats early. In Bandra (West), a developer recently refunded money to buyers who booked flats three years ago. The building, located in a bylane, had already reached up to the eighth floor. Market sources said the developer may sell the project to another builder, while purchasers are left in the lurch.

    At a development in Mahalaxmi, people who booked luxury flats have the option of paying more or taking a refund with interest. The developer plans to redesign the project under the amended Development Control Rules. Under these, the developer must pay a hefty premium to the BMC for extra floor space index (FSI).

    At Worli, a prominent slum redeveloper has changed the storyline, much to the chagrin of his clients who had booked flats five years ago. He amended the building plan and asked some buyers to relocate from higher floors to a lower level. Those who booked in the east wing with a better view are being told to shift to the west wing. Their carpet area has changed, and the developer has demanded a huge sum for club membership.

    In Andheri (West), a leading developer who had started bookings three to four years ago is refunding money with 12% interest because he plans to re-launch the project. Flat buyers face a similar dilemma in a Sion project launched two years ago. With property rates increasing, the builder feels the building could fetch more now from new clients.

    Market sources said the most blatant case is that of a residential project in Kalina, where a leading international bank had booked 100 flats for its employees. "Purchasers have been told to take back their deposit. The project will either be re-launched or get sold to another developer," said a source. "Agreements were signed and documented. Buyers had paid Rs 50 lakh for a flat and Rs 9 lakh as club fee."

    In Thane, about 40 middle-income people are down on their knees because the developer has refused to hand over the possession of the flats they had booked despite the building getting an occupation certificate. "The developer delayed the project and now wants more money, which these people cannot afford," said a leading property expert who was approached by the buyers for advice.

    Industry insiders said these instances amount to unfair trade practice. Victims of such cases can take the legal route, but not many do so because it is time-consuming.

    "One has heard of cases where some developers, quoting the new DCR, ask for payments other than agreed upon," said Pranay Vakil, chairman of Praron Consultancy (India). "This is unfair because these are signed and registered documents which have to be honoured by developers." The premium which developers pay the civic administration for extra FSI under the new DCR has also forced many developers to rework their costs.

    "Premium for fungible FSI is an additional cost which was not visualised earlier as part of the project cost. This cost is now being passed on to the buyer who has honoured or agreed to honour all obligations under the agreement. The government should intervene and provide protection to such buyers," said Vakil.

    Property expert and advocate Anil Harish said most purchasers do not want to fight the builder. "They can file a case in the consumer court. But people don't have the time and do not want to take that risk," he said. Harish recounted that he had heard of a case where a builder changed the flat area and demanded the buyers pay extra for the additional area. "But a group of 15 buyers fought back and sent a legal notice to the builder. They then settled to pay the old rate for some of the additional area and the new rate for the remaining," he said.

    Pankaj Kapoor of property research firm Liases Foras said the buyer is at the mercy of the builder, especially if the flat is booked at the pre-launch stage. Many builders open bookings when even the basic building plans are not approved. This practice is illegal and yet rampant.
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  • Originally Posted by Gangaram
    ‘Govt should protect early flat buyers from unfair developers’ - The Times of India
    MUMBAI: Rogue developers around the city are making a killing while victimizing people who book their flats early. In Bandra (West), a developer recently refunded money to buyers who booked flats three years ago. The building, located in a bylane, had already reached up to the eighth floor. Market sources said the developer may sell the project to another builder, while purchasers are left in the lurch.

    At a development in Mahalaxmi, people who booked luxury flats have the option of paying more or taking a refund with interest. The developer plans to redesign the project under the amended Development Control Rules. Under these, the developer must pay a hefty premium to the BMC for extra floor space index (FSI).

    At Worli, a prominent slum redeveloper has changed the storyline, much to the chagrin of his clients who had booked flats five years ago. He amended the building plan and asked some buyers to relocate from higher floors to a lower level. Those who booked in the east wing with a better view are being told to shift to the west wing. Their carpet area has changed, and the developer has demanded a huge sum for club membership.

    In Andheri (West), a leading developer who had started bookings three to four years ago is refunding money with 12% interest because he plans to re-launch the project. Flat buyers face a similar dilemma in a Sion project launched two years ago. With property rates increasing, the builder feels the building could fetch more now from new clients.

    Market sources said the most blatant case is that of a residential project in Kalina, where a leading international bank had booked 100 flats for its employees. "Purchasers have been told to take back their deposit. The project will either be re-launched or get sold to another developer," said a source. "Agreements were signed and documented. Buyers had paid Rs 50 lakh for a flat and Rs 9 lakh as club fee."

    In Thane, about 40 middle-income people are down on their knees because the developer has refused to hand over the possession of the flats they had booked despite the building getting an occupation certificate. "The developer delayed the project and now wants more money, which these people cannot afford," said a leading property expert who was approached by the buyers for advice.

    Industry insiders said these instances amount to unfair trade practice. Victims of such cases can take the legal route, but not many do so because it is time-consuming.

    "One has heard of cases where some developers, quoting the new DCR, ask for payments other than agreed upon," said Pranay Vakil, chairman of Praron Consultancy (India). "This is unfair because these are signed and registered documents which have to be honoured by developers." The premium which developers pay the civic administration for extra FSI under the new DCR has also forced many developers to rework their costs.

    "Premium for fungible FSI is an additional cost which was not visualised earlier as part of the project cost. This cost is now being passed on to the buyer who has honoured or agreed to honour all obligations under the agreement. The government should intervene and provide protection to such buyers," said Vakil.

    Property expert and advocate Anil Harish said most purchasers do not want to fight the builder. "They can file a case in the consumer court. But people don't have the time and do not want to take that risk," he said. Harish recounted that he had heard of a case where a builder changed the flat area and demanded the buyers pay extra for the additional area. "But a group of 15 buyers fought back and sent a legal notice to the builder. They then settled to pay the old rate for some of the additional area and the new rate for the remaining," he said.

    Pankaj Kapoor of property research firm Liases Foras said the buyer is at the mercy of the builder, especially if the flat is booked at the pre-launch stage. Many builders open bookings when even the basic building plans are not approved. This practice is illegal and yet rampant.



    Unless a tight protective law in favour of buyers comes into force and implemented strictly this sort of exploitation and cheating of buyers is bound to continue. Builders and developers thrive on others' money. This menace should be taken up strongly all over the country by appropriate Public Bodies and Forums.
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  • how is work in full swing if the work has not even started :-P
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  • Hopeful that soon work will begin in full swing.

    Sent from my GT-I8190 using Tapatalk
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  • its good if that is true, since even i am a invester in Rio............. the only good thing is that i got lot of time to save for installments :-P
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  • Originally Posted by alpha123
    likewise mithil. ;) kama kama k paise bharege :p


    kama kama k paise bharege
    Bhagtani ley kar ayesh karengey

    * Bhagtani also knows about this discussion about them and what is posted they read. Few days back many posted that they have taken away board or compound coverage.... and they provided a latest painted board. Does putting up a board means that work is started or will start? It is just adverting.... Few feel happy just because Bhagtani has board or planks near the site (nobody knows if the site legally belongs to them or not).
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  • Truely said... all investers are well aware of delays in pre lunch projects. Why will bhagtani risk their reputation of 4 decades. Delays are expected. No one can guarantee on timelines when it comes to govt approvals. And list of required approvals is just too big.

    Sent from my GT-I8190 using Tapatalk
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  • Some people out here create a hoax about the builder without getting into the credentials of the builder, the fact that Bhagtani is the member of MCHI, speaks volume. As ssent66 (above comment) correctly mentioned, obtaining IOD or CC or for that matter any clearances that involves Government bodies, does take time.

    But some irresponsible people still enjoy spreading bad news about known builders. According to them, if the builder offers a rate of 1000 Rs/sq ft in Napean sea road and gives the possession with one year, only then they get qualified in their "list".

    I believe, there are sensible people here who do good amount of research before putting their hard earned money, so its a waste playing around with peoples sentiments by challenging their decision to invest. I think there sould be a collective effort made to just press "report violation" button for baseless negative comments posted by people like Gangaram!!! :bab (3):
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  • Democracy....and let members put in their opinion even if it is not what one may want to read till time it is proper and civilised.... Also, I personally do not agree with your view about this builder....I know an end user who almost went into serious depression as his money was stuck in their Powai project which he believes would take another 5-10 years. There are many people in Mumbai who have limited money and who purchase real estate with maximum loans for living there. These type of builders are blot on their community and profession and poision for such buyers. Sorry if my thoughts are in contrary to thoughts of some others but this is civilsed democracy all about.

    Originally Posted by Bombay
    Some people out here create a hoax about the builder without getting into the credentials of the builder, the fact that Bhagtani is the member of MCHI, speaks volume. As ssent66 (above comment) correctly mentioned, obtaining IOD or CC or for that matter any clearances that involves Government bodies, does take time.

    But some irresponsible people still enjoy spreading bulls*%^ about known builders. According to them, if the builder offers a rate of 1000 Rs/sq ft in Napean sea road and gives the possession with one year, only then they get qualified in their "list".

    I believe, there are sensible people here who do good amount of research before putting their hard earned money, so its a waste playing around with peoples sentiments by challenging their decision to invest. I think there sould be a collective effort made to just press "report violation" button for baseless negative comments posted by people like Gangaram!!! :bab (3):
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  • I respect you point of view about democracy, but being relentlessly negative about something without any background check creates too much of unnecessary confusion. I have not yet invested in the property, but I am pretty sure about fact that the builder would have mentioned the clauses about delays due to uncertainties, as it’s at a prelaunch stage. And people must have evaluated their risk/benefit ratio before investing.

    For investors who want to make money in short term by selling the project when it’s at the construction phase, it could be a no-no, as you have correctly pointed out that it might take a longer duration. But for long term investors who already own a flat and have no issues with delay, prelaunch from all the reputed builders can earn fortune after completion of project, and can better than any other option financial investment.

    I am a fan of democracy, but only if people can “think” and then “react”, our country would have been much better off economically. As its Democracy that led UPA come back to power 10 years back, who have ruined the nation. So on a separate note from this topic, lets “think” and “react (vote)” in this election :)
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  • It is good that you have invested in this project and your investment is making money, but some of the comments in favor are nothing more than childishly pro builder. I hope these people do not end up rubbed on the wrong side of the market as any delay would end up ruining time value of the money. I do not see how investor would had invested in Powai project in 2009 (and finally would get delayed till 2018-20) would be making money considering time value of money even if project size is increased from 22 to 39 storey. Obviously gross amount would be better but time value would prove otherwise. Rest please take clauses signed with builder with little pinch of salt as you might have to spend time on little fighting before get them honored.
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