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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

    THe MTHL news seems to be discounted in the price of IB.THe next surge in prices would be entirely linked to the Delivery schedule of IB and the promises they keep.

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    • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

      Originally posted by singh_isking View Post
      Recently read a news item on mthl. Looks something is moving on that front. By the end of the year expect some news on it as feasability study consultant has been appointed for it.
      After the initial surge due to news of new airport, The prices in IB panvel will surge again only on clear direction on mthl.
      Let's hope for the best. This might be one of the best investments (return wise forgetting the pain and hardships caused by IB) that investors might have made in recent times. Another doubling of prices is not ruled out.

      have you paid the service tax, demanded by IB, i have got letter demanding for 20% , and service tax extra...how to go about it ? i saw in earlier post it is not apply for underconstruction building, pls guide me on this.. thanks..

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      • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

        Originally posted by saggi10 View Post
        THe MTHL news seems to be discounted in the price of IB.THe next surge in prices would be entirely linked to the Delivery schedule of IB and the promises they keep.
        100% correct.

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        • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

          Phase-II plan : Approvals in place ??

          I'm interested to know, if IndiaBulls has got the required approvals (CC) to start the construction of Phase-II buildings (Sector-11 & 14). I heard, they are demanding 20% payment for bookings made on these buildings !!! On top of this, they are asking to pay the service tax as well !!!

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          • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

            MTHL

            MTHL Bridge is likely to open in 6years: MMRDA - Accommodation Times


            what affect does it make to our IB PROJECT? could some one explain pls...

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            • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

              Originally posted by GreenWorld View Post
              I'm interested to know, if IndiaBulls has got the required approvals (CC) to start the construction of Phase-II buildings (Sector-11 & 14). I heard, they are demanding 20% payment for bookings made on these buildings !!! On top of this, they are asking to pay the service tax as well !!!
              Phase II has not yet started.Checked it out on Sunday at their site office. It would start sometime after Jan 2012. Even we have been asked to pay money, but the initial payment structure they gave us mentioned that it needs to be paid only after commencement of work.

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              • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

                Phase 2 Development

                Originally posted by denair View Post
                Phase II has not yet started.Checked it out on Sunday at their site office. It would start sometime after Jan 2012. Even we have been asked to pay money, but the initial payment structure they gave us mentioned that it needs to be paid only after commencement of work.

                I have just paid my 1st 10% installment on 13th August 2011, so far i have not received any intimation for the whole 20%, Could you please share what actual communication has been sent (Through Official Mail or Email) to have more clearity.

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                • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

                  Originally posted by lloyedm View Post
                  I have just paid my 1st 10% installment on 13th August 2011, so far i have not received any intimation for the whole 20%, Could you please share what actual communication has been sent (Through Official Mail or Email) to have more clearity.
                  We had paid 10% a month ago and then we received this new intimation by SMS to pay 10% more by Aug 26th. We called their customer service desk, they told us that they cant comment on this and would call us after checking it up. Still waiting for their call.

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                  • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

                    Originally posted by denair View Post
                    We had paid 10% a month ago and then we received this new intimation by SMS to pay 10% more by Aug 26th. We called their customer service desk, they told us that they cant comment on this and would call us after checking it up. Still waiting for their call.

                    have you paid service tax with that 10%?

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                    • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

                      End of Builders' Monopoly ??

                      DLF fined Rs 630 crore for unfair practices, realty reels under incessant shocks



                      MUMBAI | NEW DELHI: The Competition Commission of India, or CCI, has slapped a 630-crore fine on DLF, threatening to turn an isolated dispute between flat buyers and India's largest builder into a full-blown headache for the industry grappling with soaring interest costs and dwindling buyers.
                      In a 237-page order, unprecedented in its scope and scale of punishment, the anti-monopoly watchdog accuses the Gurgaon-based firm of unfair practices, abuse of market dominance and "brutal disregard of consumer right".

                      DLF, the CCI adds, rode roughshod over buyers' interests and signed sale agreements that were hopelessly one-sided.

                      The commission found DLF guilty of beginning work on a residential project, The Belaire, in Gurgaon Phase V, without approvals, increasing the number of floors mid-way through the project, delaying completion, and forfeiting the booking amount of some buyers. The fine, more than half of DLF's 2010-11 profit, has been calculated on the basis of a percentage of the average of the firm's last three year sales.

                      The move is likely to have wider implications for an industry where the practice of one-sided agreements is common and where builders routinely delay or modify projects, increasing the costs for consumers.

                      "The CCI's findings against DLF open the door for other property owners to approach the CCI and complain about unfair or discriminatory practices adopted by real estate companies in different parts of the country," says Sameer Gandhi, competition law partner, Economic Laws Practice.

                      Rajeev Talwar, group executive director of DLF, said, "We are reading the order and will examine all our options with our legal experts. We believe we have a strong case." The company is likely to appeal against the order.

                      The case relates to a complaint filed by The Belaire Owners' Association in Gurgaon against DLF in May 2010. The residents had complained of delay in possession and alleged arbitrary changes in the building plan and structure by the builder. The project was started in 2006, and DLF increased the number of floors to 29 from 19, increasing the number of apartments to 564 from 384. DLF promised to complete it in 2009, but more than two years later, buyers are yet to get possession.

                      Harsh Sehgal, president of the DLF Park Place RWA, which jointly fought the case with the Belaire owners, said DLF sold flats on 10 new floors of the expanded project at a lower price than what the earlier buyers had paid.

                      DLF Shares Slump 6.5%

                      The company refused to compensate us for the extra amount being paid by us, he added.

                      On Tuesday afternoon, after the CCI order was announced, DLF shares slumped 6.5% to 187.10. The shares have declined 19.56% in the past one month compared with a 9.6% loss for the Sen. Earlier this month, Motilal Oswal downgraded DLF's FY12 profit estimates due to higher interest costs. The company also had a negative net cash position at the end of the June quarter. "Some builders do have one-sided agreements with buyers.

                      After this order, other aggravated buyers might explore the option of filing complaints with CCI against their builders," said Saroj Jha, partner at SRGR Law Offices. The danger for the real estate industry is the government, egged on by public reaction to the order and clamour of buyers singed by delays and higher costs, may resort to some kind of regulation.

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