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as we also were booking on top floor in premim towerCommentQuote0Flag
- Originally Posted by anujdxbHow was your experience
as we also were booking on top floor in premim tower
You should ask for written commitment from Indiabulls for all the promises they make during booking of flats. I would be curious to know if they comply. If not, you should re-think.... The history in this forum and facebook are testimony of their commitments and frustration of the customers !!! Good Luck.CommentQuote0Flag
- Status of 17G1?
Hi, Has anyone booked an apartment in 17G1 tower. I am not sure about the progress of this tower. Can anyone update on the same.
- Airport at alternate site ??
Will the airport now come up on an island?
SANJAY BANERJEE, TNN | Nov 8, 2013, 01.36 AM IST
NAVI MUMBAI: The prospects of the Navi Mumbai airport becoming a reality got brighter with the Union environment ministry said to have favoured an alternative proposal to build it on an island reclaimed from the sea close to the city.
Sources close to the development called it a big shot in the arm for the state government and City and Industrial Development Corporation (Cidco), as talks with the local villagers over acquisition of 671 hectares of land, including 292 hectares in the core aeronautical area, had ground to a standstill in recent weeks. On Friday, Cidco officials will have another round of talks with the villagers, in what is being said to be a crucial meeting, before the review meeting with the PM on November 13.
"The other good news is that the Dutch model of creating the island and building the airport on it would cut costs by half, including the value of the land to be compensated, relief and rehabilitation package, and reclamation by razing the Ulwe hill," said a source. Meanwhile, villagers upped the ante on Thursday, making a fresh demand of cash compensation of Rs 6.25 crore for every hectare acquired, taking Cidco authorities by surprise.
Congress MLA Prashant Thakur said, "The land compensation model and other issues related to settlement for the acquisition of land might be replicated in future for other mega projects. It is unlikely that the government would accede to the new demand."
Thakur and PWP MLA Vivek Patil are invitees to the ongoing talks between Cidco and the Antarrashtriya Vimantal Prakalpgrastha Badhit Samiti.
Cidco MD, Sanjay Bhatia said, "In Friday's meeting we will again discuss the issues."
RC Gharat, advisor to the Samiti, said, "If the villagers are not happy with the compensation model, then the matter needs to be discussed."
Will the airport now come up on an island? - The Times of IndiaCommentQuote0Flag
- Is Navi Mumbai Worth Your Money?
Check out the updates today.
- Navi Mumbai Airport: Maha, PAPs reach accord on land compensation
The Maharashtra government has crossed a major hurdle to kick start the development of Navi Mumbai international airport project.
The project affected persons (PAPs) has agreed to the state government's offer to provide 22.5% developed land for the acquisition of their 371 hectare.
PAPs also gave their consent for no cash compensation. This will pave way for the City and Industrial Development Corporation (Cidco), which is the nodal agency for the project, to invite request for qualification (RFQ).
Lack of acquisition of land has forced Cidco to defer the invitation of RFQ.
PAPs, who had earlier pressed for compensation for Rs 20 crore per acre had insisted on the allocation of 40% and later 35% developed land, would get 1 floor space index (FSI) for 12.5% developed land and 2.5% FSI for another 10% developed land.
Government and Cidco indicated that the valuation of 2 FSI comes to Rs 25 crore per hectare. Further, PAPs will get three times more land to the current residential plot which they have occupied.
Of the 2,268 hectare land required for the airport project, so far 1,572 hectare (government and private) in Cidco's possession. However, nearly 371 hectare private land was yet to be acquired. Cidco will need 1,160 hectare of the total 2,268 hectare for the actual airport.
The agreement between the government and PAPs arrived at the meeting convened by the chief minister Prithviraj Chavan. Today's development comes ahead of the meeting convened by the Prime Minister Manmohan Singh with Chavan on November 13 to review the present status of the Navi Mumbai international airport.
Cidco chairman Pramod Hindurao told Business Standard, ''PAPs will benefit a lot from today's compensation package.''
R C Gharat, chief negotiator for PAPs, confirmed that they are agree to the government's offer of allotment of 22.5% land. ''Since last almost two years PAPs have silently pursued their demand for compensation. The value of the 22.5% developed land will be higher in the years to come. Besides, the development of airport will open up number of avenues for growth and progress of PAPs.''
He informed that the government also offered an option of compensation to be provided under the new Land Acquisition, Rehabilitation and Resettlement Act whereby PAPs will be entitled to get the double the price of ready recknor for their land in addition to 12.5% developed land. Further, PAPs will have an option to approach court.
The airport project cost, which was envisaged at Rs 4,766 crore way back in 1998 to handle 40 million passengers annually, has risen substantially to around Rs 14,573 crore as on date to handle 60 million passengers annually. The rise has been as high as 305.76%.
Navi Mumbai Airport: Maha, PAPs reach accord on land compensation | Business StandardCommentQuote0Flag
- Yeah thats the good news for all Indiabulls buyers!!. The rate of phase 2 has increased to 5499 & 6000 for phase 1.CommentQuote0Flag
- Originally Posted by priya111Yeah thats the good news for all Indiabulls buyers!!. The rate of phase 2 has increased to 5499 & 6000 for phase 1.
Where did you get this information from?CommentQuote0Flag
- Ask for below 6 items from Indiabulls before booking
Protect your home buying experience...
Wondering how to have a safe, home buying transaction? PARESH KARIA lists down the six important safeguards to ensure that your home buying experience is almost foolproof
Buying a home is one of the most important decisions in life, as it can change the way one lives forever. Also, it involves investing a substantial amount, which could mean parting with one's life's savings or getting indebted for a long period of time. However, given our regulatory framework, the legal system and the track record of developers, there is always a risk that you may not be able to enjoy the property for which you have made a huge financial commitment. As you gear up to make the buy decision, after having scoured the market for festive offers, remember to carry out a thorough due diligence before you sign on the dotted line. Given below are some of the aspects you should check while buying a new property.
COMMENCEMENT CERTIFICATE (CC)
The first and most important document to look for is the Commencement Certificate (popularly known as CC). A number of approvals and clearances are required from various authorities - environment clearance, aviation clearance, fire safety clearance, approved plans, etc., are all required before a developer can start construction of the building. Commencement Certificate, as the name suggests, is the permission given by the local municipal authority to the developer to start construction, after it is satisfied that the developer has received all the clearances and approvals. A buyer should insist on seeing the CC as it contains the condition subject to which the permission is granted. It is important to ascertain whether the builder would be in a position to satisfy these conditions. Secondly, the CC is usually given in stages. For instance, first, it would be given for construction up to say, the plinth level; then, it would be for up to the 7th floor; next, it would be up to the 14th floor, and so on. Hence, one needs to check whether the CC is received for the apartment (floor) one is booking, as without this, the home loan would also not be available.
INTIMATION OF DISAPPROVAL (IOD)
Many a times, especially in case of pre-launches, the developers start selling the project even before receiving the CC. In case one wants to invest in such a project, one needs to see if the developer has received the Intimation of Disapproval (IOD). IOD, as the name suggests, is an order issued by the local authority, disapproving the developer's application for permission to commence construction. It also lists the reason for disapproval and conditions which the developer must fulfill in order to get the CC. This may inter alia include change in the plot layout or flat plans, widening of the approach road, adequate open space, etc. The buyer should examine these conditions and ascertain that the developer will be in a position to meet these conditions and get the CC within a reasonable period of time.
One should also examine the title certificate, which is generally issued by a lawyer who has been appointed to investigate the ownership history of the land on which the property is being developed. The certificate will have complete details of the land and also state whether in the opinion of the lawyer, the developer has a clear title or right to develop the property. It will also list down disputes or encumbrances, if any, with regards to the title of the land.
Next, one should examine the site layout plan as well as the floor plan and apartment plan (blueprint) as approved by the local authority (and matching with corresponding CC), to see if they are in compliance with the plans presented in the brochure or at the time of sale. This is important because once the plans are approved, the developer cannot change the same.
HOME LOAN APPROVALS
Another important thing to be verified at the time of buying a new property is to see if the project is already approved for home loans. The buyer should ask for the list of banks which have approved the project, along with the approval number (popularly known as APF number) and if possible, also the approval letter. It is advisable to do this even if one is not taking a home loan. This is because the banks carry out a thorough due diligence, including verifying all the things listed above, before approving the project for a home loan. Hence, you can take comfort in the fact that proper due diligence is done if the project is approved by the banks. The higher the number of banks approving the project, the better.
One should also see the sample flat wherever possible, so as to get an idea of what the flat would
look like when completed. Many times, the sample flat may not exactly represent the flat one is buying. In such cases, it is important to understand the exact difference in the layout. Also, the sample flat may be furnished and have additional internal amenities and fittings. Understand exactly what type of fittings and amenities would be provided in the actual flat. If possible, one should ask for a copy of the draft agreement for sale to check out the amenities and their specifications, which the builder would be providing.
In conclusion, one should exercise abundant caution while buying a property, which involves a huge financial commitment. By putting in some efforts in due diligence as listed above, a buyer can reasonably safeguard himself against any unpleasant surprises, which may spring up in future.
(The writer is a chartered accountant with over 15 years of experience in banking, financial services and real estate)
Published in Times Of India todayCommentQuote1Flag
- Originally Posted by darkhorseWhere did you get this information from?
From Broker IndiahomesCommentQuote0Flag
- Originally Posted by priya111From Broker Indiahomes
I have book flat in bldg 2g anyone have update on constructionCommentQuote0Flag
- Any update on building 6G - Phase-1CommentQuote0Flag
- Dear Greenworld
thanks for you detailed information. do you think the buyer should get this information at Once source form the GOVT. about the project about the requisite sanctions or can govt issue a check list for the same. with which buyer will know about the facts?
when we invest such huge amount of hard earned money, I think we should get some this information from Govt. this is just to land like "Campacola"
Generally all the information given by developers and their agents are verbally, once you paid the token they provide the information half truth.CommentQuote0Flag
- DEAR MEMBERS.
seriously thinking of booking with IB panvel green will you guide me what are the documents I should ask for and precautions?CommentQuote0Flag
- Originally Posted by sjrjsrksrDEAR MEMBERS.
seriously thinking of booking with IB panvel green will you guide me what are the documents I should ask for and precautions?
Please ask for the above documents from the builder before booking your flat. It will safe guard your interests.CommentQuote0Flag