I have booked a flat in this property.
Anybody who has taken a flat in the same project? Might be good to connect.
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  • Originally Posted by yogi8888
    Captain
    I do not think you have done your homework well on home loan front. Do simple google search on advance disbursal vs regular emi s . u are in for a shock as you save more from latter. Thank me post your reccee.

    cheers!!


    Hi Yogi,

    I agree and yes I thank you for your advise. Frankly I had not googled this before but I am still not shocked. As I have mentioned earlier that is good when you are taking a loan for a long duration like 10 to 15 years. In my case where I am taking a loan for only 5 years and also getting a discount of 11% on the 80% cost of the flat (nearly 3.1 lacs) it does not seem to be a bad option (to me). Again I am saying that I might be wrong but after doing my calculation (which I have posted earlier) I am paying an average interest of Rs 4667/- per month for 5 years by taking the ADF and taking into account that 3.1 lac discount and putting the 3.1 lac in an FD for 5 years and getting a post tax return at 6%. If you can give me an example with figures to show me that I am at loss by taking the ADF I would then totally agree. The example which is given on one of the sites showing that ADF is a bad option is for a loan duration of 20 years http://www.rediff.com/getahead/2006/jul/03loan.htm. Obviously for such a long duration you will stand to loose by just getting a 10% discount upfront. But when you take a loan for 5 years and get a 10% discount upfront from day one the principal component of your loan is higher than the interest component. In my case for a 26 lac loan for 5 years at 10% my first EMI will be approx Rs 55,200/- where my Principal component will be Rs 33,500/- and interest component around 21,700/-. Now if I taken the same loan of 26 lacs for 20 years my first EMI would be approx 25,100/- with the principal being just Rs 3,400/- and interest being nearly Rs 21,700/-. So as you see a lot depends on the loan tenure and by taking a short loan tenure a discount of 10% becomes substantial.

    Your comments most welcome.

    Cheers
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  • Indiabulls customer representative has collected the Payorders for Registration after signing of the agreement nearly a week ago. But no intimation for Registartion. I guess that this is on hold because of the non readiness of the Master Plan where they have not frozen the layout, sizes of Club House which they need to attach as a prt of Regisration documents. I am really astonished that they are regularly bringing new advertisements and the latest is the addition of CLUBMOSS which will have a copmplete Cricket pitch underneath a cave like structure and the top will be green gardens. So when the Kids are having a time with the bat and ball the elders can sit right over their heads. I am still apprehensive for the day to day new ideas that is being forward by IB Greens. Any one who has got the Registration completed.....???
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  • Chinmoy Tikader welcome to the group. Can u pls advise wether your Flat registration has been completed.
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  • Originally Posted by ibrel_pan
    Friends our group strength has increased to over 200 investors. Thanks for the cooperation.
    Please do not sign agreement as we are in discussions for agreement change. If you sign agreement we won't be able to help you as terms of agreement cannot be changed after signing.

    Cheers!!!


    hey could u please update the forum on the progress of the discussions with Ib,
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  • silent but effective protest against IB.

    One thing is sure that lot of things on which approval is required is pending for this project. They never participate in the MCHI property exhibition due to this reason. MCHI doesn't allow such projects to be exhibited. Has anyone noticed this? India bulls home loan is the gold partner in the exhibition but India bulls realestate is conspicuously absent in MCHI exhibitions.

    Also look at IB advt in newspapers. They are harping about the club house every now and then but they neither have any layout nor any location plan. Trying to make a fool of people by selling them dreams not reality.

    Now once we are clear that approvals are pending for this project which is also written in the agreement 2nd page. This project will not see the light of the day before 2015 in my opinion. Phase 1 buildings will be constructed by 2013 but possession will be only by 2015 due to approval problems.

    On one hand they are battling the municipal authorities, another side they are battling with the consumers. I am sure they will end up fighting with their sub contractors too. What a company.

    In my opinion the best way to tackle IB is by not signing the agreement till you see all approval papers. Because
    1) if you do not sign the agreement they cannot demand next payment.
    2) they cannot show the approval papers as they do not have it i believe.
    3) they will be under pressure as all terms & conditions on investors will be applicable only on signing the agreement.
    4) many guys have signed the agreement but IB has not been able to do the registration. I wonder if any agreement has been registered till date. They are taking the pay orders for stamp duty and registration but not doing the registration. They are just cornering poor helpless investors to the wall and getting the agreement signed in the name of registration when they themselves know that registration is not possible.
    5) IB cannot allot our flat to others as we are not cancelling our booking either.
    6) by not paying IB we will attack their financial might as 1000 cr on interest of 15-18 % will eat way their profits from this project. So the longer they delay the heavier will be the penalty on them.

    Hence i request to all "Not to sign the agreement". After all the money we are putting in is hard earned and not a politicians black money being made to white.
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  • INDIABULLS ON FACEBOOK USE THE LINK BELOW

    Welcome to Facebook - Log In, Sign Up or Learn More

    Use the link to be part of Indiabulls Greens Panvel discussion on facebook
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  • IB not receiving calls

    Hi all,

    I think that all of u wold agree that IB Panvel is not lifting the cutsomer care s and even if it is done sit will be done a atisfactory reply to any question is never given. Regarding the Registration when one customer care representative stated that it would be done within a week's time the other said that it would take 03 week's. I don't understand that why customers are being taken for a ride. We are unable to get replies on Emails as well.

    :bab (59):
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  • IB customer care takes no care of customers

    Yaa Chinmoy, I fully agree with u .... Even i m facing the same problems with IB Customer care. They are just treating the customers like they are only meant for collecting money as per scheduled time. Very poor response on s

    SKS
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  • Latest Master Plan

    Hi all, Have u noticed that IB Website is still showing the old Master Plan layout and even the Flats sizes are not what they are presently offering. Of course such a casual approach is not expected from a big group like IB. The informations on their website is totally misleading....
    :bab (6):
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  • M Kumar

    Originally Posted by IBAshish
    Hi Everyone,

    For your reference:

    Builder

    Please go through this....very important


    Does the alteration of original plan mean it is against the law as said in this article- Should have to be courts to decide then ???
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  • Earthquake resistant towers

    Can any one throw some light on the earthquake resistant towers of IB. In the design of the buildings to what effect of Seismic wave can the towers withstand safely.

    :bab (38):
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  • in god we trust says Indiabulls for earthquake safety

    Dear chinmoy,
    IB towers are not designed for earthquake. I had asked them to provide a certificate from consultant that it is earthquake resistant and i will sign the agreement forgetting about all other issues. They say they cannot give the certificate as they themselves are not sure about it. I am sure that its not as no where in their prospectus or specifications have they written it.

    IB says that we will have to take insurance policy at our cost so that if building collapses then insurer will pay money for reconstruction of new building which according to our agreement only IB is authorised to rebuild.
    The insurer will charge hefty premium on IB buildings as they are not earthquake proof and chances of collapse is very high. If building were earthquake proof then insurance premium will be about 1/4 th as damage will be minimal and rectification cost low.

    I am going to suggest to Gagan Banga to start an India bulls insurance company as well. Because once all their land bank is converted to townships they will have to wait for earthquake to come for reconstruction work. But if earthquake doesn't come they can survive with the insurance premium that we pay them.........
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  • IB VISIT

    Originally Posted by ibrel_pan
    Dear chinmoy,
    IB towers are not designed for earthquake. I had asked them to provide a certificate from consultant that it is earthquake resistant and i will sign the agreement forgetting about all other issues. They say they cannot give the certificate as they themselves are not sure about it. I am sure that its not as no where in their prospectus or specifications have they written it.

    IB says that we will have to take insurance policy at our cost so that if building collapses then insurer will pay money for reconstruction of new building which according to our agreement only IB is authorised to rebuild.
    The insurer will charge hefty premium on IB buildings as they are not earthquake proof and chances of collapse is very high. If building were earthquake proof then insurance premium will be about 1/4 th as damage will be minimal and rectification cost low.

    I am going to suggest to Gagan Banga to start an India bulls insurance company as well. Because once all their land bank is converted to townships they will have to wait for earthquake to come for reconstruction work. But if earthquake doesn't come they can survive with the insurance premium that we pay them.........



    I had been to ib office on friday

    according to them

    1) 600 Agreements have been signed many from this forum n email group have signed as well.
    2) The Master plan cannot be given officialy
    3) If u want to upgrade ur flat you can cancel this booking and give it to one of our sales people at the old rate and buy at new rate in phase 3 sector 11

    They basically want old people to get frustrated and leave the flat so they can enjoy with our money which infact they have been doing since 2 years.
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  • Originally Posted by keezpanvel
    I had been to ib office on friday

    according to them

    1) 600 Agreements have been signed many from this forum n email group have signed as well.
    2) The Master plan cannot be given officialy
    3) If u want to upgrade ur flat you can cancel this booking and give it to one of our sales people at the old rate and buy at new rate in phase 3 sector 11

    They basically want old people to get frustrated and leave the flat so they can enjoy with our money which infact they have been doing since 2 years.




    600 Agreements?? How many flats do they have in total??

    Any idea on registration counts??
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  • Media Contact?

    Doesn't anyone have any Media Contact on this forum for IB?

    Unless, our grievances are published in Newpapers, I guess its diffcult to wake IB up and and make them hear our grievances.

    Earth quake resistant tower - isnt that a mandatory thing for all new towers?
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