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 Baner2010
    They (IB) are able to fleece customers because we allow them to do so. Look how some of the customers have gone quietly and completed the registration. If the customers are willing to pay thru their nose why the company should have any qualms! I do hope we can get together and take the issue to court. After all, we are talking about our own money. Moreover, there are plenty of instances (like HIRCO) to show that their demand is unjustified. As of now, the impression I got from the meeting with Shri Vipul Bansal, was that they do not care two hoots what we want or consider appropriate. Regards

    What case have you got babu moshai!
    All the while they said that "plan is subject to change". They are fully covered. You will only waste your time!
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  • no luck! seems they all are absconding!
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  • Originally Posted by s.sath
    hi bhushank3,

    How does the location/rate-per-sqft of Hirco compare with that of IB-Greens?

    It might be that IB lured people with cheaper rates in the beginning and later making up for most of it by increasing area. Which in that case, is not good, but they might have thought that even after such an area increase they are still cheaper than others, hence no one would leave them now???


    IB has not only made an unprecedented increase in its saleable area (keeping carpet area the same) it has also increased its rate-per-sqft by more than 100% since launch. Currently IB is quoting 4500/sqft against 2200/sqft at launch. Hirco's launch rate was 3600/sqft and they have only gone upto 4100/sqft till date. Obviously IB's strategy of luring people with cheaper rates in the beginning is more than apparent.

    On the other hand Hirco actually reduced the saleable area (keeping carpet area the same) by around 20% when they finalized their floor plans in Feb'10 with a provisional allotment letter.

    Having said that, launch rate of Hirco (in Jan-Feb'09) seemed to be very high given that they are located at double the distance from the Panvel Rly stn and the upcoming airport as compared to IB. If location is the only criterion then in my opinion the current rate-per-sqft of both IB and Hirco are equally poised. But if site-layouts and amenities are compared, one may very well end-up concluding that Hirco is selling cheaper.

    Nevertheless, over the time Hirco's upper hand has been more apparent as far as consistency, transparency and progress of construction are concerned. They even have a better sale/availability ratio as compared to that of IB at all times till date. Above all Hirco is more likely to start giving possessions of the phase#1 buildings of their Panvel Palace Gardens project by the end of 2012, unlike IB who are putting down 60months (5years) as possession date in their agreements for all the buildings in their Panvel greens project.
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  • Originally Posted by SDMUDCT
    has anyone tried calling IB customercare or any other numbers in parel office recently?
    i've been trying since yesterday but there is no response.


    You can call IB customer care on new toll free number 180030007755.
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  • Registration at Panvel

    I have just received the call for Registration. They have asked to come with photos, Pan Card, Chequebook and 4000/- Cash. I do not understand why they require fresh cheques?? Can anyone on this forum share his experiences regarding registration at IB Panvel???? Was it a pleasant experience becoz quite a sizable group has already done the registration..:o
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  • Regarding Registration

    be prepared for a day's work, even though the actual time at the registrar office is around an hour but you will have to wait for u'r turn at IB Land aquisition office because the level of coordination between IB and Registrar Office is not very smooth. The stretchout is more on Saturdays. You will be required to pay around 3000/- as scanning charges (2820/- to be precise). Please carry 02 photos and PAN Card xerox. Mr Kunal and Bushan of IB are the coordinators for the job at Panvel. :)
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  • REGISTRATION GREENS

    :)
    Originally Posted by chinmoy_pan
    be prepared for a day's work, even though the actual time at the registrar office is around an hour but you will have to wait for u'r turn at IB Land aquisition office because the level of coordination between IB and Registrar Office is not very smooth. The stretchout is more on Saturdays. You will be required to pay around 3000/- as scanning charges (2820/- to be precise). Please carry 02 photos and PAN Card xerox. Mr Kunal and Bushan of IB are the coordinators for the job at Panvel. :)



    "THANKS" for info. Great!!!!.
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  • Registered agreemnet copy

    Is there anybody who has received registered agreement.

    Do SBI is providing any sanction letter for home loan
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  • i'll be receiving mine tomorrow and i have approach sbi for home loan. havent had any trouble so far.

    Originally Posted by Greeninvestment
    Is there anybody who has received registered agreement.

    Do SBI is providing any sanction letter for home loan
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  • IB NEWS IN ECONOMIC TIMES

    Originally Posted by SDMUDCT
    i'll be receiving mine tomorrow and i have approach sbi for home loan. havent had any trouble so far.



    Homes for the low-income group have run aground with buyers in that category, mostly from the unorganised sector, unable to get home loans even as builders gr with rising costs of debt, land, labour and construction.
    Plans of several builders to launch affordable housing projects are increasingly getting reengineered and replaced by midto-high end projects, which yield more returns.
    More than half-a-dozen builders — including Ahmedabad-based Bakeri Group, Evershine Builders, Kalpataru Group, Lodha Developers and Indiabulls Real Estate — have either pulled out of the affordable-housing segment or have changed their offering. “People belonging to the informal sectors are not coming out to buy homes; the buyers are from higher socio-economic background than originally anticipated,” Pramod Kumar, chief operating officer at Value & Budget Housing (VBHC), said. Houses for the low-income category are tagged at . 6 lakh or less. “It is a challenge to offer products at this price point unless low-income housing gets recognition from all stakeholders namely banks, builders and suppliers,” Mr Kumar added.
    According to PropEquity, a property research firm, between 2009 and 2011, costs of construction material have grown nearly 25%. Steel, cement, bricks and labour constitute nearly 73% of the overall cost of an apartment. Daily wages of labour have gone up from . 250 a day in 2009 to . 325 a day in 2011.
    Value & Budget has sold some 1,000 units of their Vaibhava project in Bangalore in Phase-I, but has slowed down the roll-out of Phase-II as it is redesigning the project.
    Some builders like Bakeri Engineering and Infrastructure have shelved their low-income housing project Shreeram Nagar as they weren’t able to find buyers for these homes. “It is very difficult to get buyers for such projects as there are no formal income and ID proofs, such as pan card, to avail loans,” said Anil Bakeri of Bakeri Engineering. In the Eleventh Five Year Plan, housing shortage in urban India is expected to be 26.53 million units. The total home loan disbursed in the last fiscal was around . 1,70,000 crore, affordable made a mere 0.1% of the total loan given out by banks.
    Bakeri has now moved out of this segment and is focusing on houses in the range of . 35 lakh and 3 crore due to better margin. Others like Bangalore-based Janaadhar Constructions’ low-income project Janaadhar Shubha are getting delayed due to payment irregularity by buyers.
    Builders such as Indiabulls, Keystone Rustomjee and Lodha have increased the prices of their affordable ventures by 15-30% due to huge overhead costs and lower margin. Indiabulls Greens project in Mumbai initially sold flats at . 2,200 per sq ft in 2009 and subsequently in other phases at . 4,500 per sq ft in 2011. Keystone Rustomjee’s Urbania at Thane was launched in 2009 at . 3,000-4,000 per sq ft and in subsequent phases at . 5,000-6,000 per sq ft.
    “Many luxury builders who entered this segment did not do well. They walked into affordable housing segment more out of compulsion than strategy,” said Gulam Zia, national director, research & advisory services at property consultancy Knight Frank (India).
    A Knight Frank research on affordable housing states that the middle-income population in Bangalore will require approximately 3.27 lakh housing units by 2011, which assuming an average unit size of 800 sq ft translates to approximately 262 million sq ft of residential space. Long clearance and high land cost for setting up low-cost housing projects are forcing developers to revisit their projects.
    “We are not able to complete the project. The conversion of land is taking 12-15 months, which is increasing project cost by 20%,” said Nayan Shah, managing director of Neptune Enterprises. The Mumbai-based company is setting up an 18,000-units lowincome housing project in Kalyan in Mumbai. In the first phase, it had launched only 3,500 units. Neptune decided against building low-income projects in Mumbai due to spiraling land cost there. Since last year, fresh launches were conspicuous by their absence because mid-to-high end was still selling well. “Considerable hype around affordable housing when the economy tanked in 2009 raised expectations for a huge supply. However, India’s economy picked up ahead of most others and it did not take long for developers to reconsider their options,” said Ashutosh Limaye, local director for strategic consulting at Jones Lang LaSalle, India.
    “We are not looking at this segment and would establish ourselves in the traditional housing finance market where credit trend is established and documented,” said Anil Kothuri, chief executive officer, Edelweiss Housing Finance (EHF). The housing finance arm of Edelweiss Group currently invests only in projects upward of . 40 lakh. Many in the industry feel that low-cost housing needs to be a larger movement in the country.
    The concept has caught on in West Bengal primarily because of the initiatives being taken by the state government. West Bengal Housing Board has entered into joint ventures with developers in Kolkata to offer housing to various sections of the society. “WB state government provides land to the joint venture realty firms at a price lesser than the actual market price. Though margins are low, with profit-before-tax hovering between 10-15% per project, we decided to go into it because of the social responsibility each business house has,” said Kumar Sankar Bagchi, managing director of Bengal Peerless Housing Development.
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  • Originally Posted by keezpanvel
    Homes for the low-income group have run aground.

    Sab chorr baithe hai :)
    Land grab game!

    March 2010:
    Mega Energy/Telecom SEZ:
    Direct employment to 2.5 lakh people and indirect employment to 5 lakh.
    http://www.dnaindia.com/mumbai/report_ashok-chavan-s-mega-city-will-re-energise-state_1355803

    June 2011:
    Now turned to Mega township:
    Jobs now turned to Lodha's bucks!
    Energy, telecom city projects at Panvel to be scrapped - Hindustan Times

    And we all sit with our eyes closed. Marathon nexzone and Hirco are doing the same. They acquire land at cheaper rates by promising jobs/SEZ with the help of government and then convert it to housing projects to sell flats for crores (affordable!).
    The other modus operandi is to acquire additional FSI in the name of affordable housing and then sell flats at 30-40L e.g. Hex City

    We all have to wait for Anna Hazare to file RTI and then starve to death!
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  • Delayed payment interest calls.

    India Bulls has sent in the payment call letters even before the registrations threatening of interest of delayed payment. 
    How will one be able to pay 25 % of money immediately after registrations. It will take at least 1-1.5 months for loan approval from banks and that too when the registered agreement copy is given to them.
    Has anyone received the registered agreement copy ? How many days it takes from registration to getting the copy of registered agreement ? 
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  • I found couple of links showing interesting (at least for me) political connections for Indiabulls Chariman Sameer Gehault. I am not sure where this is of any importance.

    As per the links below: Sameer's brother Narendra Gehault ( Narendra is a Joint-MD at Indiabulls-RealEstate) is married to a Rajasthan Congress MP "Dr. (Smt.) Jyoti Mirdha". Sameer's mother is a Haryana politician "Mrs Krishna Gehlot".

    Detailed Profile - Dr. (Smt.) Jyoti Mirdha - Members of Parliament (Lok Sabha) - Who's Who - Government: National Portal of India
    A power wedding in Haryana - Rediff.com India News
    The Tribune, Chandigarh, India - Haryana


    I am not sure how much of use these connections are for IndiabullsRealEstate. Even though congress governments are in power in Maharashtra and Delhi, one of their lower-parel projects is under clearance trouble recently:

    It's 'stop work' for Indiabulls IT park

    Also, their 36-acres South Delhi project in Tehkand is in clearance limbo for about five years from 2006 (They have paid about 750 crores in total for this land, starting from 2006 JV with DLF):

    Indiabulls, DLF realty deal may land in trouble

    http://news.webindia123.com/news/articles/India/20101202/1642017.html

    Indiabulls wants to pull out of slum rehab project - Indian Express


    I would be happy to hear anything more about this!
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  • Originally Posted by s.sath
    I found couple of links showing interesting (at least for me) political connections for Indiabulls Chariman Sameer Gehault. I am not sure where this is of any importance.

    As per the links below: Sameer's brother Narendra Gehault ( Narendra is a Joint-MD at Indiabulls-RealEstate) is married to a Rajasthan Congress MP "Dr. (Smt.) Jyoti Mirdha". Sameer's mother is a Haryana politician "Mrs Krishna Gehlot".

    Detailed Profile - Dr. (Smt.) Jyoti Mirdha - Members of Parliament (Lok Sabha) - Who's Who - Government: National Portal of India
    A power wedding in Haryana - Rediff.com India News
    The Tribune, Chandigarh, India - Haryana


    I am not sure how much of use these connections are for IndiabullsRealEstate. Even though congress governments are in power in Maharashtra and Delhi, one of their lower-parel projects is under clearance trouble recently:

    It's 'stop work' for Indiabulls IT park

    Also, their 36-acres South Delhi project in Tehkand is in clearance limbo for about five years from 2006 (They have paid about 750 crores in total for this land, starting from 2006 JV with DLF):

    Indiabulls, DLF realty deal may land in trouble

    http://news.webindia123.com/news/articles/India/20101202/1642017.html

    Indiabulls wants to pull out of slum rehab project - Indian Express


    I would be happy to hear anything more about this!


    What is your question? We all know about Gehlots,Mirdhas and Mittals. Clearances are complicated matters, lots of entities involved with different interests. At the end of the day, all that matters is Moneeee!
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  • Originally Posted by jia001
    What is your question? We all know about Gehlots,Mirdhas and Mittals. Clearances are complicated matters, lots of entities involved with different interests. At the end of the day, all that matters is Moneeee!



    Anyone of you have signed the agreement or booked the new apartment ?
    the cheating done by indiabulls in as seen in the document. Earlier the 2 BHK small which was 995 builtup is now 1146 builtup. Car parking cost is now included in the total cost. In total an increase of 454200 for small 2 BHK. Similarly for 2 BHK large there is an increase in 544400 . Details in the attached document
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