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Indiabulls Greens by Indiabulls in Panvel, Mumbai

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Indiabulls Greens by Indiabulls in Panvel, Mumbai

Last updated: July 7 2017
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  • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

    MMRDA Rental Scheme

    Dear Investors,

    Yesterday I went to see Nexzone Project. MMRDA Rental Scheme is applicable to Nexzone and all upcoming project in Panvel. I visited Indiabulls site and found construction work in good pace. IB started construction in all sectors i.e 2 / 3 / 4 & 5. Max till 3 to 4 floor. MMRDA Rental Project is in full swing, can see 8 to 10 floors.

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    • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

      Originally posted by Ravish Singh View Post
      Dear Investors,

      Yesterday I went to see Nexzone Project. MMRDA Rental Scheme is applicable to Nexzone and all upcoming project in Panvel. I visited Indiabulls site and found construction work in good pace. IB started construction in all sectors i.e 2 / 3 / 4 & 5. Max till 3 to 4 floor. MMRDA Rental Project is in full swing, can see 8 to 10 floors.
      Please upload the photos incase you have taken some....

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      • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

        IB has lost it's sense.

        My friend got an sms from IB asking him to pay the next 20% by end of this month. He has been waiting for past 3 months for registrations. I think has lost it's sense.
        Has anyone else got such message ?

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        • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

          Originally posted by singh_isking View Post
          My friend got an sms from IB asking him to pay the next 20% by end of this month. He has been waiting for past 3 months for registrations. I think has lost it's sense.
          Has anyone else got such message ?
          This will be illegal under Maharashta law.

          If builder is resorting to illegal practice and you still agree to pay the builder then law cannot help you and there will be no protection for your money.

          At this stage it is advisable to file criminal law suit against the builder. Violation of the law leads to 3 years imprisonment for top management of the promoter company.

          Steps:
          1. A Notice has to be issued to the builder calling upon him to comply with the statutory requirements as are stipulated in the MOFA Act.
          2. If there is no proper response from the Builder after issuance of the Notice, then the parties have a right to approach the Criminal Court. It is advisable to lodge a Police Complaint after issue of notice and then to file a Criminal Complaint in the Magistrate’s Court upon failure of the Police Authorities to take cognizance of the Complaint. This can also be a ground for approaching the Magistrate’s Court.
          3. Once a complaint is lodged, the matter is kept for verification wherein the statement of the Complainant is taken. If the Metropolitan Magistrate is of the opinion that process should be issued under the provisions of MOF Act, after verification he accordingly issues the process (Summons) to the accused Builder calling upon him to answer the charges. The time taken for the process period is approximately one month.
          4. On the first day of the accused Builder remaining present in the Criminal Court he has to submit a Personal Bond (PR) of such amount as directed by the Hon’ble Metropolitan Magistrate. In criminal complaint, a complainant has to personally remain present in the court.


          Law violated:


          The Maharashtra Ownership Flats Act 1963

          Section 4 of MOFA mandates that promoter before accepting advance payment or deposit shall enter into an agreement with the prospective flat purchaser and such agreement shall be registered. It provides as follows:
          1) Notwithstanding anything contained in any other law, a promoter who intends to construct or constructs a block or building of flats all or some of which are to be taken or are taken on ownership basis,shall, before, he accepts any sum of money as advance payment or deposit, which shall not be more than 20 per cent of the sale price enter into a written agreement for sale with each of such persons who are to take or have taken such flats, and the agreement shall be registered under the Registration Act, 1908” and such agreement shall be in the prescribed form.
          Last edited by jia001; June 14 2011, 09:56 PM.

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          • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

            Thanks for quick response

            Thanks for the quick repsonse. I shall inform my friend about it. He is waiting for the courier to reach him so that he has proof of it and take legal action. IB will certainly not do such thing with few individuals. Either they do this for none or do this for all.

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            • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

              Registration Call

              Hi ppl,

              Just want to update all that even i have received the SMS for paying up 20% of amount.

              Also, i got a call from them for scheduling the REGISTRATION of the Agreement, which is likel to happen in this week.

              So hey are ideally hoping to get the registrations done and demand the money simultaneously.


              regd,

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              • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

                demand for additional 20%

                same is the case with me. as soon as i received their sms, i called them to get an update. i was assured that they would schedule registration for all those who have recd the sms in a week's time. i understand that registration has already commenced.

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                • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

                  They too are aware of the law and probably in anticipation of the commencement of registration process are raising the demand. In some cases the demand could go upto 20% or more considering the status of construction. The amount maybe quite sizeable and hence the notice.

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                  • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

                    How the flat nos will be under the modified scheme

                    Can anybody inform us how the flat nos are being assigned in revised scheme of the project.

                    Any reason why they are not doing the registration process.

                    Regards,
                    Appu

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                    • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

                      Originally posted by appu54321 View Post
                      Can anybody inform us how the flat nos are being assigned in revised scheme of the project.

                      Any reason why they are not doing the registration process.

                      Regards,
                      Appu
                      Hi,

                      I spoke to IB Customer Care yesterday and I have been informed that the first set of registrations for Panvel flats have started on 14th June 2011. Has anyone who has already signed the agreement and deposited the stamp duty PO been invited for getting their flat registered??

                      Cheers

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