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 pratikpr
    Current rate quoted (Just visited their stall last week at a property exhibition)

    1BHK - 713 sq ft - 34.3 Lac + other charges = 37.37 Lacs
    2BHK - 1156 sq ft - 53.13 lac + other charges = 56.86 lacs
    2BHK - 1246 sq ft - 56.95 lacs + other charges = 60.82 lacs
    2BHK - 1172 sq ft - 53.81 lacs + other charges = 57.56 lacs
    3BHK - 1690 sq ft - 75.82 lacs + other charges = 80.36 lacs


    pratik , I am surprised that they are still maintaining the above sizes because as far as I know the flat sizes are changed unilaterally under the latest revised plans ! In fact no one knows for certain what the size would be , I am referring to phase 2 here . IB seems to be lying here.

    Originally Posted by capt.vishal
    I have received a Demand Letter Today asking me to pay Service Tax. Has anyone paid service tax yet?????

    Cheers

    Vishal


    Vishal , I think service tax is payable for the payments one has already made ( I have paid for the 10% that I have paid) but please keep all acknowledgements carefully . I don't think IB would dare to commit a service tax fraud
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  • Hey future neighbors,

    Greetings to you all!

    I am relatively new on this forum.... had to join as there didn’t seem any other way to connect with other people at the receiving end of Indiabulls’ wrong business conduct.

    Instead of getting together & standing up against all the misery Indiabulls are heaping on customers, looks like most people are busy posting updates, pictures, celebrating success ("registration is complete, finally!") and the like. Nothing wrong in all that, except that the main subject people ought to be worried about is conspicuous by its absence. Well, there are a few voices that have raised the issues, but they seem to be overwhelmed by the majority that wants to believe that all is well…

    A large part of the initial posts here seemed to converge on the conclusion that it is either impossible or unnecessary to fight this builder, even while accepting that they’re being scammed. Don’t you think, as a community we have the responsibility to ensure that we are neither at the giving end nor the receiving end of scams or other corrupt practices? Some supporter of Anna Hazare had requested in this very forum to observe 8 pm lights-out to show solidarity, but do we want to stop at mere tokenism? If a 74 yr old man is taking on the might of Indian government & winning, what did that teach us?

    While most people seem happy (and they should be, they are in the right geographical place! the bad news is, they are with the wrong builder) that their investment in Greens Panvel has given them profits, they are forgetting these are only paper profits. They also seem to think, if a little grudgingly, that it is OK for Indiabulls to cheat them out of some part of it. While we’ve made paper profits, they will make the real profits. And if they have cheated once, promised something & recanted, what is the surety they will not cheat again? How can we be confident that any of the amenities they are promising, never mind in which phase, will actually come about? How long will we wait before we take action? After what they’ve done already, if the reaction from customers so far is anything to go by, they must believe they can get away with murder. So, when will the tipping point come? After they finish building low quality apartments and hand over? Do you think they will listen to us, after we've paid all the money? Do you think any of the amenities that they have promised will actually come about?

    Here's my take on what Indiabulls have done so far:



      They’ve fooled people by committing to 33% loading verbally at the time of booking & raising it to more than 40% in the agreement. This is from Saleable to Carpet area, the other way round works out to 67%+. As per law builders are allowed to sell only on the basis of carpet area, to prevent these scams, but Indiabulls sold us flats promising a particular ‘saleable area/carpet area ratio’ & then increased the saleable area while keeping the carpet area almost the same. This scam cost buyers almost 200 sq ft (in 3 BHK configuration). Multiply it by the rate you’ve paid p.s.f. and the floor rise, and you’ll know the extent of cheating.




        In doing this, they have illegally cornered at least 20% of the profits early entrants were sitting on. If they had changed our buying rate from, say Rs.3000 p.s.f. at the time of booking, to Rs.3600 p.s.f. at the time of agreement, would we have agreed? Well, they know that we wouldn’t have, so they’ve quietly cheated by playing around with the area of the flat – in monetary terms it amounts to the same, but just that this is more subtle, so many have not realized they have been scammed.




          They’ve bumped customers up several floors, at the customers’ cost, to hustle a bigger floor-rise out of them. So a Phase I buyer who has, say, booked a flat on the 5th floor, at the time of signing the agreement is told that due to changes in the project, they are unable to give them that floor, and that they would have to move to 20th floor – and believe it or not, you pay the differential floor rise! This serves their purpose, it is difficult for them to sell the higher floors at the current prices anyway, so palm it off on the early entrants. Multiply the additional floor-rise with the notional increase in area as described in point no 1, the rip-off gets even bigger….




            They included the parking cost in the p.s.f. price, with no confirmation of our being allotted a specific parking spot. As per the development control regulations, builders are not allowed to charge for parking, it’s supposed to be provided free. To circumvent this, at the time of agreement, they silently add the parking cost in the p.s.f. price, to show as if they are giving the parking free! Neat!




              If you’re a Phase I customer, you soon realize they've changed the Project Master Plan, Building external elevations, Individual building layouts, Floor Plan of the flats, Amenities shown as part of a phase, Saleable to Carpet area of flats, and the flat and floor that you’ve booked - in short, the works... despite this, people have gone ahead & signed and registered the documents and celebrated. Some have even started day-dreaming of a luxurious existence once the complex is complete! Well, all we’ve done is, given the robber the key to our treasury, after knowing he’s robbed us once. If we behave like ostriches, bury our head in sand & think nothing unpleasant is going to happen to us, well…




                Their agreement is completely one-sided as builder agreements sometimes are. Doesn’t mean the law of the land will recognize it, even if we’ve signed on it. Without a sensible exit policy, we had a gun to our heads, most people signed either because they didn’t understand they were being scammed or because they had no choice. Since it’s difficult to get people’s opinions to converge on a particular line of action, these go unchallenged, and everyone is a loser except the fraudulent builder.




                  Indiabulls have already moved timelines, they had promised to deliver Phase 1 possession in July 2011, at the time of booking. At the time of agreement the shifted the time line to 60 months from the date of signing the agreement! They’ll do it big time after bulk of the money is in the bag. At the moment, they’re doing the construction fast, because they want money out of us quick. They’ll collect most of the money without finishing Phase I & use this to start the next Phase to collect more money from there to start Phase 3 & so on… they needn’t worry either, people will refuse to get out of their slumber.




                    They are sitting on 2 hypotheses: a) now that people have signed up & paid some money, they’ll not want to litigate & jeopardize the future of the project, and b) people will not even get together to fight them in the first place. So far, they’ve been proved right.


                    Someone has said that “one man with conviction is worth 99 with opinions”. If people get together, things start happening… this is the year of the jasmine revolution guys! Litigation may not be required, there may be many other options to make them take customers seriously.

                    Are there enough number of people here that want to take the fight to the builder?

                    Someone has said that “one man with conviction is worth 99 with opinions”. If people get together, things start happening… this is the year of the jasmine revolution guys! Litigation may not be required, there may be many other options to make them take customers seriously.

                    Are there enough number of people here that want to take the fight to the builder?

                    Someone has said that “one man with conviction is worth 99 with opinions”. If people get together, things start happening… this is the year of the jasmine revolution guys! Litigation may not be required, there may be many other options to make them take customers seriously.

                    Are there enough number of people here that want to take the fight to the builder?

                    Someone has said that “one man with conviction is worth 99 with opinions”. If people get together, things start happening… this is the year of the jasmine revolution guys! Litigation may not be required, there may be many other options to make them take customers seriously.

                    Are there enough number of people here that want to take the fight to the builder?

                    Someone has said that “one man with conviction is worth 99 with opinions”. If people get together, things start happening… this is the year of the jasmine revolution guys! Litigation may not be required, there may be many other options to make them take customers seriously.

                    Are there enough number of people here that want to take the fight to the builder?

                    Someone has said that “one man with conviction is worth 99 with opinions”. If people get together, things start happening… this is the year of the jasmine revolution guys! Litigation may not be required, there may be many other options to make them take customers seriously.

                    Are there enough number of people here that want to take the fight to the builder?

                    Someone has said that “one man with conviction is worth 99 with opinions”. If people get together, things start happening… this is the year of the jasmine revolution guys! Litigation may not be required, there may be many other options to make them take customers seriously.

                    Are there enough number of people here that want to take the fight to the builder?

                    Someone has said that “one man with conviction is worth 99 with opinions”. If people get together, things start happening… this is the year of the jasmine revolution guys! Litigation may not be required, there may be many other options to make them take customers seriously.

                    Are there enough number of people here that want to take the fight to the builder?

                    Someone has said that “one man with conviction is worth 99 with opinions”. If people get together, things start happening… this is the year of the jasmine revolution guys! Litigation may not be required, there may be many other options to make them take customers seriously.

                    Are there enough number of people here that want to take the fight to the builder?

                    Someone has said that “one man with conviction is worth 99 with opinions”. If people get together, things start happening… this is the year of the jasmine revolution guys! Litigation may not be required, there may be many other options to make them take customers seriously.

                    Are there enough number of people here that want to take the fight to the builder?

                    Someone has said that “one man with conviction is worth 99 with opinions”. If people get together, things start happening… this is the year of the jasmine revolution guys! Litigation may not be required, there may be many other options to make them take customers seriously.

                    Are there enough number of people here that want to take the fight to the builder?

                    Someone has said that “one man with conviction is worth 99 with opinions”. If people get together, things start happening… this is the year of the jasmine revolution guys! Litigation may not be required, there may be many other options to make them take customers seriously.

                    Are there enough number of people here that want to take the fight to the builder?

                    Someone has said that “one man with conviction is worth 99 with opinions”. If people get together, things start happening… this is the year of the jasmine revolution guys! Litigation may not be required, there may be many other options to make them take customers seriously.

                    Are there enough number of people here that want to take the fight to the builder?

                    Someone has said that “one man with conviction is worth 99 with opinions”. If people get together, things start happening… this is the year of the jasmine revolution guys! Litigation may not be required, there may be many other options to make them take customers seriously.

                    Are there enough number of people here that want to take the fight to the builder?

                    Someone has said that “one man with conviction is worth 99 with opinions”. If people get together, things start happening… this is the year of the jasmine revolution guys! Litigation may not be required, there may be many other options to make them take customers seriously.

                    Are there enough number of people here that want to take the fight to the builder?

                    Someone has said that “one man with conviction is worth 99 with opinions”. If people get together, things start happening… this is the year of the jasmine revolution guys! Litigation may not be required, there may be many other options to make them take customers seriously.

                    Are there enough number of people here that want to take the fight to the builder?

                    Someone has said that “one man with conviction is worth 99 with opinions”. If people get together, things start happening… this is the year of the jasmine revolution guys! Litigation may not be required, there may be many other options to make them take customers seriously.

                    Are there enough number of people here that want to take the fight to the builder?

                    Someone has said that “one man with conviction is worth 99 with opinions”. If people get together, things start happening… this is the year of the jasmine revolution guys! Litigation may not be required, there may be many other options to make them take customers seriously.

                    Are there enough number of people here that want to take the fight to the builder?

                    Someone has said that “one man with conviction is worth 99 with opinions”. If people get together, things start happening… this is the year of the jasmine revolution guys! Litigation may not be required, there may be many other options to make them take customers seriously.

                    Are there enough number of people here that want to take the fight to the builder?

                    Someone has said that “one man with conviction is worth 99 with opinions”. If people get together, things start happening… this is the year of the jasmine revolution guys! Litigation may not be required, there may be many other options to make them take customers seriously.

                    Are there enough number of people here that want to take the fight to the builder?

                    Someone has said that “one man with conviction is worth 99 with opinions”. If people get together, things start happening… this is the year of the jasmine revolution guys! Litigation may not be required, there may be many other options to make them take customers seriously.

                    Are there enough number of people here that want to take the fight to the builder?

                    Someone has said that “one man with conviction is worth 99 with opinions”. If people get together, things start happening… this is the year of the jasmine revolution guys! Litigation may not be required, there may be many other options to make them take customers seriously.

                    Are there enough number of people here that want to take the fight to the builder?

                    Someone has said that “one man with conviction is worth 99 with opinions”. If people get together, things start happening… this is the year of the jasmine revolution guys! Litigation may not be required, there may be many other options to make them take customers seriously.

                    Are there enough number of people here that want to take the fight to the builder?

                    Someone has said that “one man with conviction is worth 99 with opinions”. If people get together, things start happening… this is the year of the jasmine revolution guys! Litigation may not be required, there may be many other options to make them take customers seriously.

                    Are there enough number of people here that want to take the fight to the builder?

                    Someone has said that “one man with conviction is worth 99 with opinions”. If people get together, things start happening… this is the year of the jasmine revolution guys! Litigation may not be required, there may be many other options to make them take customers seriously.

                    Are there enough number of people here that want to take the fight to the builder?
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  • Originally Posted by spkrao


    Someone has said that “one man with conviction is worth 99 with opinions”. If people get together, things start happening… this is the year of the jasmine revolution guys! Litigation may not be required, there may be many other options to make them take customers seriously.

    Are there enough number of people here that want to take the fight to the builder?


    Dear spkrao,

    Thanks for your post!!

    You are right about majority of buyers who have given-in to the scam sponsored by Indiabulls because they are happy with their so-called paper profits and think that this scam is the part of the price that they have to pay for their dream-homes in this project.

    However let me assure you that there is certainly a group of people that haven't fallen to this scam and have taken a stand against IB. Please join and mail to: got_ibull_ied(at)yahoogroups(dot)co(dot)in. I have sent you a private message with numbers of a few people who are a part of this group.

    I am glad to be one of them. From the moment I discovered this scam, when they called me in their Elphinstone office, to give a "new allotment" of flat (on a much higher floor than what i had originally booked), I have shown my disagreement to the same by all means possible. I have also not done any further payments and will not do it until they make an agreement which will go by the facts and figures offered to me at the time of booking.

    We are sure of getting our demands fulfilled by IB because they are only fair. Nevertheless if required we will be filing litigation against IB in the court of justice. There is a lot of evidence that could confirm IB systematically trying to fool their buyers. And if we have numbers on our side it won't be difficult to bring IB to justice sooner than later.

    cheers
    B
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  • Indiabulls Panvel - Advertisement

    hi.an advertisement for penthouses in their project.
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  • What may be relevant is whether even for the new buyers the carpet offered is 60%. Has anybody checked what is the new carpet to sale area ratio.
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  • Does anybody know why the rates are so high for that area now. I understand that there is going to be airport, but there is lot of open space in that area and the area as such would take a long time to develop. It still appears to be in a relatively remote place.
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  • My guess is that investors with a long term horizon don't mind the current price since almost everyone is betting on the Trans Harbour Link from Sewri to Nhava Sheva to change their fortunes. I also strongly believe that rates of 10,000 psf and above would be achieved when the link is declared. by the time its made we can expect it to be 15,000 psf. Travel time from anywhere in Panvel to Churchgate/ CST would be 45 mins! So for any wise investor with foresight and a long term horizon, Indiabulls is a superb deal! so even if you invested when the rate was 3,500 psf you can expect your investment to be 4 times in the next 7 - 8 years!
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  • carpet area

    HI friends,
    Cld some one please tell me how carpet area is calculated.

    As per the plan for 1246sqft 2bhk, the approx area comes out to be more than 65-67% but see in this thread few blaming IB providing only 60% or less.

    May be my calculations are wrong. Need help here.

    Thanks
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  • Originally Posted by devindrashah
    hi.an advertisement for penthouses in their project.


    I had no idea that penthouses are sold in Greens, Panvel !!! Where was it advertised ?
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  • carpet area

    Originally Posted by ashkharoo
    HI friends,
    Cld some one please tell me how carpet area is calculated.

    As per the plan for 1246sqft 2bhk, the approx area comes out to be more than 65-67% but see in this thread few blaming IB providing only 60% or less.

    May be my calculations are wrong. Need help here.

    Thanks


    HI friends, Have checked the calculation for other builders like Kesar Exotica, Lodha, Nirmal life style. For all carpet area comes out to be 66-67% approx. This includes dry balcony / flower bed, cupboard area.

    And thats what IB panvel is also offering. So why so much noise around carpet area. Have i missed out anything.

    Thanks
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  • New PHOTOS??

    Any one has taken NEW Photos of Phase 1??? Particularly Sector 4???
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  • Penthouses

    Originally Posted by GreenWorld
    I had no idea that penthouses are sold in Greens, Panvel !!! Where was it advertised ?


    hi..i think the ad came in DNA's Property edition...i inquired and found they have some units in Tower No 15 & 16 on the 37th & 38th floor...they are providing simplex and duplex strucutres...too complicated so i did not push much...
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  • Originally Posted by vaibhavtiwari
    My guess is that investors with a long term horizon don't mind the current price since almost everyone is betting on the Trans Harbour Link from Sewri to Nhava Sheva to change their fortunes. I also strongly believe that rates of 10,000 psf and above would be achieved when the link is declared. by the time its made we can expect it to be 15,000 psf. Travel time from anywhere in Panvel to Churchgate/ CST would be 45 mins! So for any wise investor with foresight and a long term horizon, Indiabulls is a superb deal! so even if you invested when the rate was 3,500 psf you can expect your investment to be 4 times in the next 7 - 8 years!


    15,000 psf in 7-8 yrs. Really?

    Trans Harbour link will be connecting to NH-4B near Nhava Seva, which is appro 28 kms from panvel. The actual distance of this link will be 22 kms. So, how can one travel 50 kms in 45 mins?

    Also, it took 10 yrs for building Bandra Worli link, which is just 4.7 kms long, do you really think, that within the ambitious timeline you are setting it will be possible to build this THL. This is greater Engg challenge than BWL was.
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  • Completely agree vth Ritz82.How can one be so optimistic about India and its development given the speed alone at which things happen here? Forget about bubble, corruption etc.:D
    Secondly do most of these guys, who think rates will reach 15k at such ridiculously undeveloped places, know what is going on in the world economy?

    I don't mean to be rude but have been following the forum for over a year. And it is shocking to see some fellas day dreaming even in current situation. I am a businessman from manufacturing sector which is the real pulse of any economy with an experience of 8 yrs traveling all over world as an employee in service industry. Of-course, I hope to qualify my comments by stating my credentials.
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  • Megacity Project

    Has anybody any update on the megacity project in panvel. It was announced in Mar 2010 that one Gulf company would be investing almost $ 10 Billion for development. But there has been no news since then.
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