Is anyone aware of this new pre-launch in Powai, Bhagtani Group's Bhagtani Serenity? Where is the exact location and what are the pre-launch rates? Is it worth investing here?
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  • gbs321: are you not in touch with gautam620 & powai2013? They could help you out
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  • By the way, does anyone know whether the IOD has come or not? The marketing guy at the builder's office was "confident" of that by January itself.
    Honestly; I feel vindicated that it was a wise decision to stay away from Serenity...
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  • Hi Guys

    Thanks for support but I am in touch with most of the people including legal, marketing head and others but its the worst ever possible nights in my life I am facing where nobody is even picking my phones. Worst situation to be in as I am not able to go to the builder's office before coming Saturday.
    @Gautam: I was told a couple of days back that it will take at least a year to get IOD. And I also believe there should not be an issue but I will believe only after I get it. I have already done the emailing thing. I will do it again though. Can you send your number to k01692@gmail.com
    @Powai: They have stopped booking because of some service tax audit issues.
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  • Hi Guys

    Kiran (works on contracts/ agreements) picked up my phone after at least 50 times calling and has said that he is not responsible for the agreements and Marketing Head has to decide. Marketing head has a very standard evry 5-6 days he picks up the call "I wil get back in 10 minutes" and then 10 minutes never end.

    I hope Bhagtani's really know what kind of people they have put up for the job.
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  • Ya right they are not important but Kiran bacame important after Upkar stopped picking my phone for last 15 days with all his excuses. Arti was the one who promised delivery of allotment letter last week and then this week again. These guys really know how to throw false promises.

    Somehow today Upkar has picked up the phone after dilli-dallying for some time and again gave me assurance that it will happen next week. So I am again stuck for almost 10 days. I donot believe any of these but I donot have any other choice as of now. If these guys are facing these many problems and not even able to talk to the customers I have a strong bad feeling about the builder and the people handling the projects.

    @Gautam: Thanks I will call asap.
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  • Hi Alpha

    I seriously wish it was 1-2 days or even a week but when more than a month has passed and u keep getting only the assurances then its a big trouble.

    Also even if i get it I am left with a bad taste and hope they would not force me to make it worse.
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  • If getting allottment letter is taking more than a month, i can just imagine what would happen incase of project delays, refunds etc...
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  • Hi Gautam
    Thanks for encouraging words time and again for last few weeks and I wish I could believe you. But I rememeber somone telling me over the phone (when I called for the first time) that he has given same day check on the day of booking and on this very forum he said otherwise in next couple of days.

    I am the one suffering as of now and am really skeptical about the motives of the whole builder team involved. Its really not digestible if a person/ firm you have paid 30% of the amount not picking the phone for 15-20 days. I never expected that unprofessional behaviour from the Jaycee Homes team involved.

    I agree with you that all builders are same but show me the cases where allotment letter was not given for 40 days of first payment. I am sure you will not like it but honestly now I am not afraid even if they return my money and cancel my allotment. Infact I would be releived. I would invest in some better builder.
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  • Originally Posted by gautam620
    That's just blatant misinformation.

    All of us were told from day 1 (and it is mentioned in allotment letter as well) that IOD application will be filed in March and they expect to get it by July at the earliest and September at the latest.

    However, as is normally the case, I am assuming that it will take some more time but hopefully they will get it by Diwali.


    I totally agree with you that the builder has promised different things to different people. I too had visited the builder's office in Santacruz, and had met Upkar. I was informed that they will get the IOD in January, and start the excavation soon thereafter. My last visit this weekend didnt show any activity.

    I should commend that you have done a remarkable job promoting the project and the builder on this forum...

    My information about the builder is that they need money to finish Krishang asap, which has seen inordinate delays and cost escalation....
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  • And ya Upkar pomised (promise again) me today that he will send me mail (twice he promised) but as usual he has not sent anything till now. You guys had better experience with team...... i do not belive you.

    Bhagtani Team: Today after talking to you guys I know for sure you are watching this forum and it become more and more relevent for me to write on this forum all what I am feeling right now.
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  • Originally Posted by gautam620
    They also need money for the following:
    1. Making payment for the plot on which Serenity will be built. I think it was bought on some deferred payment plan and they had to make final payments by 15th Feb.
    2. The entire approval process. I think the total amount required for getting all the approvals for a project in Mumbai these days is Rs. 1500 psf.

    But none of this surprises me as this is what all builders who do pre-launches do.

    Why else would they do prelaunches at 25-30% discount to market rates?


    Who says that it is 25-30% discount. What is your benchmark? What else can a builder charge for a property stone throw away from bhaji market....

    Its by no means cheaper....and not to forget, time value of money

    Anyways, its a call taken by individual so its ok....
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  • Gautam
    - I donot believe you that its 25-30% less. 15% may be the right figure by today's rates and thts where we wanted to earn.
    - Even if i agree with you does that mean a builder can take 30% of money and sit tight without giving allotment letter for that long without any credible assurance?
    - Does tht also mean they would keep changing their statements everyday.
    - In this stage of the project as investors we invest on lot of trust on the face of the builder people we meet as there are lot of legal hurdles and the project may or may not get launched and that where investor takes risk. 8-10% is the interest rate these days you get from the bank in India.
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  • I can get you lot of properties in less than this price in 50 meters vicinity of the project. The premium would have come by it being a new building, so called "reputed builder", facilities promised etc
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  • Repeating again if you have not read my statements before writing the last statements.
    "- I donot believe you that its 25-30% less. 15% may be the right figure by today's rates and thts where we wanted to earn.
    - Even if i agree with you does that mean a builder can take 30% of money and sit tight without giving allotment letter for that long without any credible assurance?
    - Does tht also mean they would keep changing their statements everyday.
    - In this stage of the project as investors we invest on lot of trust on the face of the builder people we meet as there are lot of legal hurdles and the project may or may not get launched and that where investor takes risk. 8-10% is the interest rate these days you get from the bank in India"

    Also before comparing 9500 and 13000 (Even if you are right) following are the factors we need to consider:
    - Comparison between any new building and old building you would find this difference
    - Compare fully developed area like Rahejas/ Hiranandani and area like the one we have you would know the difference
    - Developed roads/ shopping areas/ buildings surrounding the plots

    And other factors.
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  • My points:
    - We are not comparing it with HN. Its nowhere near. There is slum 600 meters distance from HN. You want to calculate tht too. Lets not.

    - All this does not justify the builders attitude, wrong practices, delaying the things, changing the statements everyday, not giving "provisional allotment letter" on time, keep on giving numbers of different people (Talk to him/ her), not picking the phone after multiple calls .... endless trust me.
    - I am still not sure what date of allotment letter I will get.

    I am done fighting on this forum as this forum was to discuss the good things/ bad things not commercial favoritism/ opposition to/for builder. I will come back again in a couple of days with new inputs.
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