Has anyone seen/booked at the upcoming property of Ackruti Grp in Thane? Their rates seem to be pretty low for Pokhran 1? Any catch in that? Also I was reading on the net that the company had a bad year 08-09...
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  • all flat owners should mention their email address and number on every blog to enable all of us to interact with each other. Pl join yahoo group also.
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  • False Promises

    Hubtown Ltd a very big name in real estate industry of Mumbai is facing all sorts of problems like labour, materials, approvals, may be financial also , which they say are beyond their control. If they wants to remain and be a leading player in the industry these problems should be controlled/managed and in timelines. Greenwoods project buyers are cursing their destiny when they booked in this project way back in 2009 considering the brand name of Ackruti City Ltd v/s Dosti Group. The progress situation is entirely reversed in case of both the projects in close vicinity and both are under same MMRDA rental housing scheme.
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  • We must ask Hubtown Management for early solution atleast now.
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  • In total Hubtown Greenwoods building have around 1000 Flats
    If average booking cost per flat is Rs. 50L then the total booking value around 500 cr.

    At this point Hubtown collected around 300 cr. (aprox.) from customers. (including 20:80 scheme)

    So now amount receivable from customers is just around Rs. 200 cr.
    Further hubtown also taken loan from Canara bank 300-350 cr. (as site staff telling us)

    Total Work Pending for construction Cost is around 150 cr.

    So in this point the net receivable from the customer is amount Rs. 200 cr.
    And amount payable Rs. 450 – 500 crs. (150 crs. Further cost of building plus 300-350 cr loan from canara Bank)
    Difference of receivable and payable Rs. 250-300 cr.

    So if hubtown complete the project they wants to pay Rs. 250 – 300 cr., then why they are going complete the building work?



    They already have around 2000 cr debt company.

    So intelligent shah brother (directors of the company) invested the amount which they had taken loan from canara bank PLUS amount collected from customer i.e around 600 cr to new projects and throws the customer of greenwoods on road.
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  • ]We must meet coming Sunday 2.9.2012 at 11 am to decide future course of action in the interest of all the flat buyers of Hubtown Greenwoods. The delay is beyond reasonable limits . Hubtown Management should understand clearly that to survive in this world , for any global or domestic company the first and foremost is customer satisfaction and atleast now the faith and confidence of all the customers of Greenwoods is shaken to such an extant that it will take extra efforts and number of years together to rebuild the earlier confidence level enjoyed by the company in the year 2009. Please understand plight of customers and take corrective steps.
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  • Greenwood project has become a joke in my friend circle. Where ever we see an abendoned construction work we make inquiry whether it is taken over by Hubtown management :)
    Hubtown don't even have capability and compatibility to repair toilets in our houses. So you can assume in whose hand we gave our future.
    And who said they should worry about their reputation? don't expect. The scarcity of houses is so sever that people will stand in que if Hubtown starts new project. Thats the fact. So why should management bother about customers who have already paid almost 65%.
    If you go by court battle you will end up with your remaining savings in lowyers pocket. They know it all, so they exploit the customers.
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  • I enquired with MMRDA regarding rental progress of our project. They told me that all ther permission is given to the this project. MMRDA release 1 FSI of retal building and 1.75 FSI to sale building. So freinds project will again stoped after they construct Bldg No. B and C full (OC will not get), Wing-D 15 floors and Wing-E 11 floors.

    Futher permission of bldg No. A, D, E and F will get after completion of Rental Building and if hubtown sincerally do the work it will take around 2 years hereafter.

    Actual Slab work of Bldg No. F will start after 2 years and further slab work of Wing A - Beyond 12 floors, D-Beyond 15 Floors, E - Beyond 11 will start after 2 years (if they complete construction work of rental building.)

    They are cheating us saying work will start may---june---july---aug---sept --- etc. etc. are totally misleading and not doing any work at rental buildings. We should forced them to construct all retal building immediately.

    All should come forward and meet on sunday 11.00 am (02.09.2012) at site of hubtown to decide further course of action otherwise we may lose our hard earned money, family dreams etc.
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  • MMRDA scheme clarification needed

    ]MMRDA rental housing scheme gives FSI of 4 and out of which 1 is for govt bldgs and rest for pvt development.I think work will progress in that proportion, not after completion of govt. bldgs they will commence rest 4 bldgs A, F, D,E for pvt development. Lets wait and see how things moves. Please meet on coming Sunday at 11 am site office to discuss this issue also. Its very important to meet and interact with each other. By taking MMRDA scheme after our booking , the developer has put us in great loss and trouble.
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  • Logically if developer gets total 2.75 FSI then why he will opt for this MMRDA scheme. Normally they can construct 1.33 FSI and 0.67 TDR i.e. total FSI 2 in normal course for pvt. development.
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  • Originally Posted by hubtownbluff
    ]MMRDA rental housing scheme gives FSI of 4 and out of which 1 is for govt bldgs and rest for pvt development.I think work will progress in that proportion, not after completion of govt. bldgs they will commence rest 4 bldgs A, F, D,E for pvt development. Lets wait and see how things moves. Please meet on coming Sunday at 11 am site office to discuss this issue also. Its very important to meet and interact with each other. By taking MMRDA scheme after our booking , the developer has put us in great loss and trouble.

    Please check mmrda website, you can see how the FSI will release.
    They violated that norms and for getting/cheat the customer they without getting any approval from TMC/MMRDA, constructed Wing A - 12 Floors, Wing E - 8 Floors, Wing F- Plinth Level and after paying penalty, TMC regularised this work or issued CC for that buildings. (even after that they are not doing any requisite work on rental buildings). The said issue was discussed in Maharashtra Assembly. So MMRDA come forward and issue the full FSI i.e 1 to rental building and 1.75 FSI for Sale building to regularised this work.

    The main issue hubtown management hided from us. They are cheating us by saying if ratio of during constructions 1:3 (rental:sale). They will get additional FSI after completion of rental buildings.


    RELEASE OF FSI 4.0
    Plot Area :

    Gross Plot area in sqmts M
    Plot area for Rental housing in sqmts (minimum 25 % of M) = A
    Balance Plot area in sqmts (M-A)= B
    Maximum permissible Built up area on Rental Housing
    Plot of A sqmts
    M
    Maximum permissible Built up area on Balance Plot
    of B sqmts
    3 M
    Maximum permissible Built up area on Gross Plot of
    M sqmts
    4 M



    FSI :
    Sr No Stages of Development Release of FSI
    1 On Handing over of Plot area equivalent to A to MMRDA free
    of cost for Rental housing with clear title in name of MMRDA
    and with minimum 18 mt developed approach road .
    0.25 M
    2 On Submission of building Plans for Rental housing
    Component and obtaining Commencement certificate for entire
    Rental Housing Component.
    0.75 M
    3 On submission of building Plans for Housing component on
    Balance plot B and obtaining Commencement certificate for
    Housing Component.
    0.35 B
    4 After handing over 50 % of constructed rental hsg units free of
    cost to MMRDA after obtaining completion certificate .
    0.65 B
    5 After handing over 100 % of constructed rental hsg units free of
    cost to MMRDA after obtaining completion certificate .
    3M-B
    6 TOTAL FSI 4 M

    If required modifications in the above table will be carried out by the Metropolitan
    Commissioner , MMRDA who is appointed as Chief Executive officer for implementation
    of this project.


    (My main object is educate the people and how customer trap by builders on rely on them)


    (My main object is educate the people and how customer trap by builders on rely on them)


    (My main object is educate the people and how customer trap by builders on rely on them)


    (My main object is educate the people and how customer trap by builders on rely on them)


    (My main object is educate the people and how customer trap by builders on rely on them)
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  • Originally Posted by hubtownbluff
    Logically if developer gets total 2.75 FSI then why he will opt for this MMRDA scheme. Normally they can construct 1.33 FSI and 0.67 TDR i.e. total FSI 2 in normal course for pvt. development.



    Eligible Total FSI 4
    Rental FSI - 1
    Sale FSI - 3

    Release by MMRDA
    Total FSI - 2.75
    Rental FSI - 1
    Sale FSI - 1.75

    Balance FSI Sale - 1.25 will release by MMRDA after completion of rental building.
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  • Its 10 year Hubtown Plan

    Sorry to state that i also booked flat in F Tower due to bigger size of flats available there. Now it seems whether small or big all wings are facing a dilemma of what action should be taken. Hubtown Ltd has let down all flat buyers in this project mercilessly.
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  • Good Information

    ]Good informative guidance to all of us. Thanks
    Pl meet tomorrow sunday 2.9.2012 at 11 am. It will benefit all.
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  • ]Proposed meeting on coming Friday 7.9.2012 at 11 am at Andheri Hubtown solaris office . Please attend in large numbers.
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  • Thanks for informing the meeting schedule on Friday.

    Well can anyone update what was the outcome of meeting on Sunday at Site.
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