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 singh_isking
    IB has unleashed a volley of demand letters. Guys in sector 3 are facing the heat. Construction has reached 10th floor and demand for 55% money +2.5% service tax is being demanded. People who could not pay due to loan still not being approved are being charged interest for late payment.
    Suddenly IB has become aggressive after sleeping for almost 2 yrs since they started booking. If they continue this momentum then by dec 2011 sector 3 building will be 32 storied high. Ditto for other sectors but at least they will  get breathing time. 


    Adding slabs is cheap and fast (due to aluminium shuttering). Hence the profit margin can be raised for next two quarters for Indiabulls real estate. Their trick was to link 95% payment to slabs. So expect a lull after they get the money.

    However what is interesting is: "Do they have the necessary clearance for the number of floors?". As in their lower parel project they were fined for doing construction even without clearance. If anyone is short of money and needs more time, they can slowdown their payments using RTI.
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  • Approval Maybe only till 18th floor.

    Even I feel approvals are not in place. i think upto 18th floor they have permission. Their trick might be to make us think that the ADF route will be beneficial to us and take all the money at 18th floor itself and then sleep for next 3 years. Only time will tell. Let these buggers earn their money  by constructing the floors instead of ADF.
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  • Originally Posted by jia001
    Adding slabs is cheap and fast (due to aluminium shuttering). Hence the profit margin can be raised for next two quarters for Indiabulls real estate. Their trick was to link 95% payment to slabs. So expect a lull after they get the money.

    However what is interesting is: "Do they have the necessary clearance for the number of floors?". As in their lower parel project they were fined for doing construction even without clearance. If anyone is short of money and needs more time, they can slowdown their payments using RTI.



    They have got full approval up to 35 floors for Phase-I last year (November-2010) itself:
    http://envis.maharashtra.gov.in/envis_data/files/indiabullsitem25.pdf

    http://envis.maharashtra.gov.in/envis_data/?q=27ECDoc
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  • Any update on Sector - 6B?

    Has anyone received any update from IB on the next payment or for an agreement for the Sector 6B flat?
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  • Originally Posted by singh_isking
    Even I feel approvals are not in place. i think upto 18th floor they have permission. Their trick might be to make us think that the ADF route will be beneficial to us and take all the money at 18th floor itself and then sleep for next 3 years. Only time will tell. Let these buggers earn their money  by constructing the floors instead of ADF.


    I think we are all going overboard here. You really think institutions like HDFC and SBI would grant loans without IB having approvals in place? When I went to meet IB in March they gave me contact details of reps from HDFC, SBI, IB home loan and some other bank also. They never every suggested that I should opt for IB Home loans or for that matter ADF. Taking the ADF was totally my decision for my personal reasons. There was no mention of ADF from IBREL at all. As I have said earlier let us not make this forum a IB hate club as it will eventually come and bite us. People are reading these forums and taking decision that IB Greens is not worth investing in. This will obviously hurt IB but will it not hurt us to as investors? On the other hand we need to bring up points which Mr. Banarjee has pointed out about increase in sellable area or for that matter what Jia has pointed out earlier on demand for service tax etc. as those are the issues which really matter to us.

    Cheers!!!
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  • Originally Posted by jia001
    Adding slabs is cheap and fast (due to aluminium shuttering). Hence the profit margin can be raised for next two quarters for Indiabulls real estate. Their trick was to link 95% payment to slabs. So expect a lull after they get the money.

    However what is interesting is: "Do they have the necessary clearance for the number of floors?". As in their lower parel project they were fined for doing construction even without clearance. If anyone is short of money and needs more time, they can slowdown their payments using RTI.


    This is how all builders charge so there is nothing new about it. Why is everyone so negative about things. Why do you feel that once they get 95% of the payment there will be a lull? Btw I might be wrong but IB being a non govt body does not come under the preview of RTI, does it?
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  • Good views welcome

    Even if we were to praise IB still mo one will book with them and that too at this price.
    At vashi sales office there is no single footfall for past several months. Guys who go there are only ones who have something to complain.
    If anyone has anything good to write about please feel free to do so.
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  • Originally Posted by capt.vishal
    This is how all builders charge so there is nothing new about it. Why is everyone so negative about things. Why do you feel that once they get 95% of the payment there will be a lull? Btw I might be wrong but IB being a non govt body does not come under the preview of RTI, does it?

    If all builders do it that way, doesn't mean that it is right.

    Also only bad builders do it, not all.

    Putting slabs takes less 50% of the project time and 50% of project cost. So why demand 95%.
    If there is only 5% tied to 50% of the work and requires rest 50% spending, then what is the motivation for the builder to do the work on time. All builders are short of cash and the buyers would be at the mercy of builders to have the project completed.

    Basic example: Tell your electrician that you will pay him 95% and he can just lay the cables and can come back to finish the rest 50% for 5% amount outstanding. The electrician is atleast human, honest and worried about his reputation, so he would come back, but cant say the same about builder.


    Environment clearance is not the only clearance. Clearance for number of floors is generally given in a staged manner. And the RTI was for Panvel Zilla Parishad that keeps records of clearances given.
    As regards slowing down after 95%, I will say wait and see!
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  • Originally Posted by capt.vishal
    I think we are all going overboard here. You really think institutions like HDFC and SBI would grant loans without IB having approvals in place? When I went to meet IB in March they gave me contact details of reps from HDFC, SBI, IB home loan and some other bank also. They never every suggested that I should opt for IB Home loans or for that matter ADF. Taking the ADF was totally my decision for my personal reasons. There was no mention of ADF from IBREL at all. As I have said earlier let us not make this forum a IB hate club as it will eventually come and bite us. People are reading these forums and taking decision that IB Greens is not worth investing in. This will obviously hurt IB but will it not hurt us to as investors? On the other hand we need to bring up points which Mr. Banarjee has pointed out about increase in sellable area or for that matter what Jia has pointed out earlier on demand for service tax etc. as those are the issues which really matter to us.

    Cheers!!!



    If they have sold a flat above the 18th floor and registered it, then most likely they should have approval above 18 floors.

    If they have not sold anything above 18 floors, then it does not "automatically" imply that they don't have approval above that: they could be holding on to those stock for selling them at better rates when the project is completed up to 35 floors. Their plan could be to complete the whole 35-floors building with money from people up to 18th floor, and then sell the higher floors at better rate at the end of the project??


    "In my opinion", they should have gone for environmental clearance at the end, after getting all the approvals from local-municipality/corporation. So they should have approvals up to 35 floors. The "environmental clearance" guys probably would not want to keep revisiting a project proposal for higher floors. The "environmental clearance" also seems to be the most transparent among the clearances, being available online, so they should have gone for it at the end. This is just my best guess, I might be wrong...
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  • Cancel booking

    I have been through onough now. The only way to teach him lesson is mass cancellations.
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  • Cancellation of the bookings is definately not in anybody's interest.

    All of us who booked initially have contributed in making project a "success".

    I think it is our ability to stay which counts. The entire experience is pathetic but I guess this is reason why we get the returns.

    When I booked IB, my only experince was with a local builder who delayed the project by 2 years before we moved in.

    The IB experience has turned out to be worse. anyway, I hope at the end of all this, it would be worth it.
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  • After many reminders I finally went to the IB Head Office at Parel this weekend. My flat location they mentioned has changed from Tower P ( which does not exist now) and new location was in Sector 5 with view of MMRDA land. Mine was non-PLC flat so I requested them to give me another options. They offered me choice to 2 PLC flats one in Sector 3 and another in Sector 4 asking me to pay additinal amount of PLC charges. Any inputs from this forum which Sector is better one between 4 & 5 ?
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  • Sector 3 or 4

    Originally Posted by justtp
    After many reminders I finally went to the IB Head Office at Parel this weekend. My flat location they mentioned has changed from Tower P ( which does not exist now) and new location was in Sector 5 with view of MMRDA land. Mine was non-PLC flat so I requested them to give me another options. They offered me choice to 2 PLC flats one in Sector 3 and another in Sector 4 asking me to pay additinal amount of PLC charges. Any inputs from this forum which Sector is better one between 4 & 5 ?


    I meant which one is better between Sector 3 & 4 ?
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  • Originally Posted by justtp
    I meant which one is better between Sector 3 & 4 ?

    After all the IB trauma, sector 3 is better as it is closer to the (planned/drawn/depicted) nursing home. :bab (4):
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  • Quote:
    Originally Posted by justtp
    After many reminders I finally went to the IB Head Office at Parel this weekend. My flat location they mentioned has changed from Tower P ( which does not exist now) and new location was in Sector 5 with view of MMRDA land. Mine was non-PLC flat so I requested them to give me another options. They offered me choice to 2 PLC flats one in Sector 3 and another in Sector 4 asking me to pay additinal amount of PLC charges. Any inputs from this forum which Sector is better one between 4 & 5 ?


    Hi I also have booked in tower p so in that case same applies to me I have not been to IB but want to know from you are they now giving fixed flat or still they are subject to change in future
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