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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  • Friend,
    This India bulls group is a bunch of shameless greedy entrepreneurs.
    Even if TV9 does make a news item so you think they will relent. Know that they have not done anything illegal here as per rule of land.
    To justify what i mean above i give the case of its sister company India bulls power limited. They gave money to ncp politicians and got sanction for some million cubic metres of water for a silly power plant in baramati where farmers are commuting suicide for lack of irrigation water for their crops.
    Do you think we are dealing with human beings here?
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  • This I would term as losing the battle even before the start of it.
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  • Agreement Registration to take45days more

    As per the info from IB the registration of agreement shall take at least 45 days more. None of the signed agreement is registerd yet.
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  • no hate club here

    Legal victory is impossible against India bulls as there is no allotment letter for old areas.
    By the way investors have already doubled their money so why cry over 2 lacs rupees.
    Common sense tells us not to fight a losing battle.
    Thanks for your ideas but no sensible person will act on it.
    Let us share useful info here rather than make it as an Indiabulls hate club.
    p
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  • Agreement received today

    Hi Guys,

    I have just joined as a new member, have been following your comments from the last few pages. I paid the 1L deposit last November (for Plot 1E)and have received the agreement copy today.

    I have not seen this agreement, I am based out of India. However it seems there is a mention that we cannot sell our property without prior consent of IB?? Has anyone received agreements with this clause? I am not sure their are any other clauses that are not agreeable to a majority of us?

    I dont know if anyone can provide a general consensus about this agreement?

    Thanks
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  • refer previous pages for agreement highlights

    IB has right of first refusal. If you want to sell at a price say X and IB is willing to pay that price then you have to sell to IB. but if anyone ready to pay higher than IB then you can sell to him after getting NOC from IB. If you sell before possession then 15 % to IB but after possession 5% to IB.
    for other points in agreement refer previous pages.
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  • Originally Posted by ibrel_pan
    IB has right of first refusal. If you want to sell at a price say X and IB is willing to pay that price then you have to sell to IB. but if anyone ready to pay higher than IB then you can sell to him after getting NOC from IB. If you sell before possession then 15 % to IB but after possession 5% to IB.
    for other points in agreement refer previous pages.

    15% before signing the agreement and 5% till until possession. If you sell after possession, IB has no cut!
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  • Thanks Jia & Ibrel for your responses.

    but your responses are slightly different. Jia - you say no cut after possession but ibrel states its 5%?

    Have you guys signed the agreement? Have you got a response to the complaint letter yet?
    What are our options here if we dont sign and wheter we can do something to get IB to change their clauses?

    I am also told that they have changed payment schedule. We were initially informed the payments were to be made 10% roughly every 3-4 months, however now they are demanding 40% upfront in their agreement.

    Thanks for your responses, guys. Appreciate it!
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  • see, it is like this, payment schedule is linked to stage of construction. Since they have multiple towers coming up simultaneously and some havegone beyond the first storey they will raise a demand pro rata, once the agreement is registered, therefore for those who have paid 20%, there will be a demand for maybe 20 -25% upon registration and if work proceeds as it has over the past six months a 5% demand as per schedule will be forthcoming every other month.
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  • Furthermore, its a practice in under-construction buildings that the builder takes his pound of flesh for transfer. After possession the same as i understand is brought down to 5%, this demand stays until the formation of society which would take about 2 years quite easily after possession date. IB is not an isolated case in this issue
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  • Originally Posted by sagi7
    see, it is like this, payment schedule is linked to stage of construction. Since they have multiple towers coming up simultaneously and some havegone beyond the first storey they will raise a demand pro rata, once the agreement is registered, therefore for those who have paid 20%, there will be a demand for maybe 20 -25% upon registration and if work proceeds as it has over the past six months a 5% demand as per schedule will be forthcoming every other month.


    Thanks very much Sagi. I wonder if anyone knows status of construction of plot 6E? That will determine how much more I pay now. IB has increased the upfront payments by 10%. It was 30% payment on completion of basement, however my agreement states 40% on completion of basement.
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  • Made Full Payment to IB by ADF

    Dear All,

    I have taken the ADF and made full payment to Indiabulls. I had signed the agreement earlier but will now have to resign after the agreement as it will be amended to take into account the 11% discount that I received on the 80% value of the flat (approx 3.1 lacs). I have visited the IB Customer care a few times in the last couple of months and every time I have been there I have seen atleast 4 to 5 customers signing the agreement. I am sure that a lot of people in this forum have also signed the agreement and unlike many who have said that we should not sign the agreement and have actually gone ahead and signed it, I had even earlier updated everyone that I had signed the agreement. I am not saying that I have done the right thing but frankly I do not have the time to fight with these guys. I am sure that most of us booked the flats when the rates were less than 3000 psf and knew very well what we were getting into. Do you all really think that any big company like Indiabulls would make an agreement to cheat their customers?? All these agreements are made by Law Firms to ensure that their Clients interests are 100% taken care off, try and check this agreement with any other builders agreement. All I can say is that all builders are the same and all agreements have more of less similar terms (one sided) which we are seeing in the IB Greens agreement. I will be glad to know if anyone has been successful in getting some amendments in the present agreement. I am sure that Indiabulls has much more at stake here than individual flat Owners. I have no reason to believe that the Project will not be completed, yes it might be delayed but then that's nothing new in India. Please don't tell me that any of us were hoping that the Project would be completed and delivered by March 2012 as was told to us in the beginning of 2010 when we made the bookings. I really hope that those who are trying to get the agreement amended succeed as it will help all of us but till then I am just optimistic that things will fall in place soon.

    Cheers
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  • Photos of 2BHK flat- Not on paper but real

    Here are some real pictures of your flat -2BHK taken recently. Construction progress is Vgood. Some buildings have reached upto 6th floor.
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  • Great Info

    Originally Posted by newlayout
    Here are some real pictures of your flat -2BHK taken recently. Construction progress is Vgood. Some buildings have reached upto 6th floor.


    Hi,

    Awesome pics and good to know regarding the progress. Are they allowing us to go inside these buildings?? as the last time I went there around end December they did not allow us to enter the construction site. How do the room sizes look like?? Any idea when the sample flat will be ready?

    Cheers
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  • All the dimensions are as given in the agreement and layout is also the same, what I could not see is loft in the corridoor.

    Also the common passage is quite spacious, staircase are also big (around 6ft).

    Yes the don't allow anyone in the construction area but some how I escaped all check and reached.

    Also many other realestate players have started land acquitation around Ibulls complex, big positive for all investors and actual users.



    Originally Posted by capt.vishal
    Hi,

    Awesome pics and good to know regarding the progress. Are they allowing us to go inside these buildings?? as the last time I went there around end December they did not allow us to enter the construction site. How do the room sizes look like?? Any idea when the sample flat will be ready?

    Cheers
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