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Hubtown Greenwoods by Ackruti Group in Thane West, Mumbai

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Hubtown Greenwoods by Ackruti Group in Thane West, Mumbai

Last updated: May 20 2016
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  • #61

    #61

    Re : Hubtown Greenwoods by Ackruti Group in Thane West, Mumbai

    Schedule

    Originally posted by kedaps View Post
    Hello Everyone

    I saw the post regarding the meeting which was scheduled yesterday. Unfortunately i saw this post late evening yesterday.

    Can anyone update on the meeting that happened yesterday? I am keen to knwo why hubtown management has not arranged for any meeting which they had promised to keep. Anyways it real pain now jus attending the meeting and we should all get after them for compensation! they have literally cheated us.

    Please update on future course of action based on meeting yesterday.

    Called them up, they say only when they have all approvals in place....they wud arrange for meetings to finalize the schedule

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    • #62

      #62

      Re : Hubtown Greenwoods by Ackruti Group in Thane West, Mumbai

      Some customer meet hubtown management on 22/05/2012 at andheri office. hubtown just says that the work will start within 20 days and possession will extend anather 6 months i.e. around sept . 2013 .............. is it possible?

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      • #63

        #63

        Re : Hubtown Greenwoods by Ackruti Group in Thane West, Mumbai

        Ackruti knows that flat owners are not united. Out of 800 flat owners only 30-35 people were present for the meeting. It shows, every other thinks that somebody else will fight for him. I am not surprised to see that management is fooling giving false promises. Who ever raises voice will get the threat email about legel action.
        How big group you are matters!! Fix up the next meeting if this time builder don't act. Gather as a crowd put the banners at site, arrange a rally if required. Let media know what is going on. Unless they are affected with bussiness, they are not going to look at your demands.
        Last edited by HubtownThane; May 23 2012, 02:23 PM. Reason: Upset about meeting's output

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        • #64

          #64

          Re : Hubtown Greenwoods by Ackruti Group in Thane West, Mumbai

          Ackruti send e_mail to flat purchasers as follows :


          Dear Sir/ Madam,
          Sub:- Revised Possession date for your building.
          1. We at Hubtown are honestly proud to have you as our esteemed customers. We are honoured and happy that you have chosen the home of your dreams in our project.

          2. We are writing this letter to address all the concerns raised by our flats purchasers either oral or written, with respect to the delay in possession. We greatly appreciate the support and patience extended by each and every member of the Project “Hubtown Greenwoods“.

          3. i. The date on which possession was to be given has undergone change and is delayed. This delay has been caused by many reasons and force majeure events beyond our control.

          ii. By our previous correspondence we had already communicated various difficulties and problems faced by the Real Estate Sector including force majeure conditions, due to which there has been a delay in the completion of the Project and as a result of which the possession of your Flat / Unit could not be handed over. Some of the reasons and force majeure events beyond our control are enumerated in detail as under:

          a) Changes in Govt. policy from time to time resulting in delays in clearances and approval of plans change in policies.
          b) Delays in getting approvals and permissions from the local Govt. authorities and bodies.
          c) Local labour migration to other industries and states due to local reasons, resulting in huge shortage of skilled and unskilled labours.
          d) There have been fire incident at our Head office, which has resulted in destruction of voluminous record and systems and gravely affected our operation and development activities.
          e) Shortage of supply of sand due to various reasons including environmental objections on the dredging of sand.

          1. It is not that we are shielding or trying to avoid in handing over the possession to you, however, you will appreciate that most of the reasons as stated above were beyond our control as a result of which there is a delay in handing over the possession of your flat. Unfortunately for the reasons as stated above, there has been an unforeseen delay for which we appreciate your co-operation in bearing with us till date.

          1. Also you will agree that your building has reached to a good construction stage and will be completed by maintaining superior standards of all input materials and finishing so as not to compromise on any aspect of quality or on the satisfaction of our esteemed clients and patrons or our reputation of delivering projects adhering to the highest quality standards. Hence we sincerely hope and wish that you would bear with us till (XX-XX-2013) by which we intend to hand over the possession to you.

          1. In case for any reason, the aforesaid proposal of handing over the possession by the revised date is not convenient to you and keeping in mind your anxiety as our paramount concerns including your apprehensions and worries expressed by you regarding your children’s education, rental fees for alternate accommodation, hike in various taxes, external borrowings etc., our management has come up with the following option which is being offered to you:

          a) You may opt to cancel the Agreement for Sale and we will repay the amount to you with interest 12% p.a. from the date you have made the payments to us. Please note that this option is as a gesture of goodwill and we request you to revert to us within sixty (60) days from the date of this letter. However, this shall not be binding on us, if such a right is not exercised within sixty (60) days from the date hereof nor will this offer be treated as a precedent for any future sales or developments. Please note that if we don’t receive any reply from you within sixty (60) from the date of this letter, it shall be deemed that you have agreed to the revised date of possession as stated in Paragraph 5.

          Please write to us an E-Mail on [sushma.hegde@hubtown.co.in ] in case you would want to exercise the above option. We sincerely hope and wish more extended support from our esteem customers which we have been receiving since the start of our project. Without prejudice, in any event apart from the aforesaid offer, we deny that any compensation of any nature or in any form whatsoever is payable to you.

          It will be our greatest pleasure to be able to hand over possession of your Flat as per the revised date mentioned above and continue having you as one of our valued patrons.


          Yours faithfully,
          for HUBTOWN LTD




          (Possession Date changes wing wise )




          our obseration is that this option is very benificial to ackruti only


          For example :
          If "A" booked flat 1000 sqft. 5000/- per sqft in the year 2010 and suppose he paid 50% to Ackruti then his cost till date is
          Paid to Ackruti - Rs. 25,00,000/-
          Paid Stamp duty, registration - Rs. 3,00,000/-
          Paid Service Charges & Vat Rs. 1,00,000/-
          Interest on Loan (10%) Rs. 3,75,000/-

          Total cost upto date Rs. 32,75,000/-
          (Suppose 12,50,000/- paid in the year 2010 & Rs. 12,50,000/- paid in the year 2011)





          Ackruti will refund

          Amount Paid to Ackruti Rs. 25,00,000/-
          Intereset as per email (12%) Rs. 4,50,000/-
          Total Amount refund Rs. 29,50,000/-


          Net Loss to Customer Rs. 3,25,000/- (Exlcuding rent paid for current accomodation) Loss of their dream home and also customer can not get any flat 5000/- sqft any where.


          Calculation for profit to ackruti
          Rate difference while booking same flat to anather customer
          (Market rate - Old Customer Rate)
          Rs. 7500 - Rs. 5000 Rs. 2500/-
          Total Sqft 1000 sqft.
          Extra income Rs. 25,00,000/-
          Less : Interest paid to old customer Rs. 4,50,000/-
          Net Profit to Ackruti per flat Rs. 20,50,000/-
          If 100 people cancelled flat arond 1,00,000 sqft
          Net profit to ackruti Rs. 20,50,00,000/-
          Last edited by ringrose; May 25 2012, 01:22 PM.

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          • #65

            #65

            Re : Hubtown Greenwoods by Ackruti Group in Thane West, Mumbai

            Dear All,

            I found this forum today and went through all the post. It's so disappointing and scary to know all our dreams of owning a home in greenwoods might get scattered.

            Ringrose point is very valid; it’s a loss to take money back with 12% int. But I am also scared incase this project is cancelled or stops at 12th floor then we might loss all the hard earning. Honestly I am totally confused, don't know if I should take a chance and hold back with hopes. It would be very helpful if you all can share your views and plans.

            Hubtown thane, I agree with you; it’s best to handle this situation as a group, but how to unite all 800 flat owners when you don’t know who they are? Fyi, till date I am never ever informed about the meetings arranged by Acruti management, I have complained them numerous times all in vain. I am sure most of the flat owners are in similar situation. Next time if any meeting is planned by Actuti flat members or by the management then pls share in this forum.
            Hopefully all turns well.
            Brgds/Sofia

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            • #66

              #66

              Re : Hubtown Greenwoods by Ackruti Group in Thane West, Mumbai

              Hi

              Can anyone tell me the revised possesion date for "B" wing as i have not received any letter from these guys..

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              • #67

                #67

                Re : Hubtown Greenwoods by Ackruti Group in Thane West, Mumbai

                MMRDA started the rental housing scheme to promote the availablity of flats for the weaker section of the society.
                The Idea was if the rental housing was built by the builder at a portion of land and handed over to MMRDA , the builder will get extra FSI . so if the plot of land can have FSI of 1.3 as per govt rules , by constructing rental housing for MMRDA ... the builder would get FSI 4.
                But there has been lot of changes in the rules by the Govt. on rental housing scheme . Then there are various departments from whom approvals have to be taken even after the scheme has been approved by MMRDA. Hence all the projects under the rental housing schemes are stuck. The list of projects I know under this scheme is in the earlier post.
                HENCE BEWARE ... IF YOU ARE LOOKING FOR TIMELY POSSESSION OF YOUR FLATS .... DONT BOOK IN ANY PROJECT WHICH HAS MMRDA RENTAL HOUSING SCHEME AS THE BASIS OF APPROVAL.
                THERE IS NO CERTAINITY ON WHEN OR WHETHER YOU WILL GET YOUR FLAT

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                • #68

                  #68

                  Re : Hubtown Greenwoods by Ackruti Group in Thane West, Mumbai

                  Share Rental Project Details!!

                  Can you please share the details of project under rental scheme for benefit for all forum members will help tremondously

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                  • #69

                    #69

                    Re : Hubtown Greenwoods by Ackruti Group in Thane West, Mumbai

                    Ackruti Gradenia Mira Road project delay 3 years, Ackruti Countrywood - pune delay 3 years (yet to get possession). These projects are not MMRDA Rental Housing Project. HENCE BEWARE ... IF YOU ARE LOOKING FOR TIMELY POSSESSION OF YOUR FLATS .... DONT BOOK IN ANY PROJECT WHICH HAS (MMRDA RENTAL HOUSING SCHEME AS) / HUBTOWN THE BASIS OF APPROVAL.
                    THERE IS NO CERTAINITY ON WHEN OR WHETHER YOU WILL GET YOUR FLAT
                    Last edited by greenthane; June 1 2012, 05:30 PM.

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                    • #70

                      #70

                      Re : Hubtown Greenwoods by Ackruti Group in Thane West, Mumbai

                      No wonder Ackruti changed it stripes (name) to HubTown - they must have realised that word is around in mkt of there dealings in MMRDA rental scheme etc

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