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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  • Could it be possible that Indiabulls is broke, why else should they prolong the project. Surprisingly their shares are doing well.
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  • Phase-2 saleable area increased but NO CHANGE in carpet area

    Phase-2 saleable area increased but NO CHANGE in carpet area
    Indiabulls has increased the saleable area of all the flats in phase-2. But the carpet area is not increased at all. They have taken the customers for granted after holding their booking amount for past 4 years or so. Here is the new saleable areas in their cost sheet published last week.
    1 BHK : 791 sq. ft.
    1.5 BHK : 1059 sq. ft.
    2 BHK (S) : 1301 sq. ft.
    2 BHK : 1360 sq. ft.
    2 BHK (L) : 1394 sq. ft.
    3 BHK (L) : 1889 sq. ft.
    4 BHK (S) : 2661 sq. ft.
    4 BHK : 2757 sq. ft.
    4 BHK(L) : 2796 sq. ft.

    For example - The 3BHK(L) was 1771 sq. ft. with loading of 33%
    Now the area has increased to 1889 sq. ft. where only the loading has increased. In other words, without increasing the carpet area of the flat, builder has increased the saleable area by aprx. 120 sq. ft.
    Compare your flat area with the above changes and calculate the extra amount you need to pay the builder for zero increase in carpet area.
    This is so UNETHICAL PRACTICE followed by Indiabulls and all the phase-2 customers must protest immediately.
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  • Buyers cry foul as Indiabulls hikes cost of flats in Panvel project Shalini Nair : Mumbai, Tue Sep 13 2011, 01:24 hrs

    Indiabulls had done this with the phase-1 buyers 4 years back. They are repeating the same crime against phase-2 customers now. Wake up guys...
    Buyers cry foul as Indiabulls hikes cost of flats in Panvel project - Indian Express
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  • Debt doubled in one year

    Debt of almost all real estate firms in India has increased. Indiabulls real estate top the list with more than 100% increase in debt

    Please visit

    from DLF to Sobha, debt
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  • I never thought in September 2009 that the wait for the flat would be so painful and prolonged. Its almost 6 years since we were the amongst the first to book the flat in Indiabulls Greens Panvel and we are still waiting for a confirmation or visibility of the possession date. I can now see others going through the same pain! The visit to the site does little to ease out the pain as 37-floor-closely- placed-multiple buildings have little in common to what we thought or what we were given to understand. The experience with Indiabulls symbolizes all that is wrong with the Indian Reality sector....Unfortunatly and regretfully, we, as customers, can do little to take action....or take a legal recourse....
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  • This is the perfect example why even in 21st century in India customer is helpless and builders behave as they want. One should compare it with developed countries and why we India still 3rd world. If things won't change India can't develop in real means....Mera Bharat Mahan
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  • Indiabulls in Kalina Library Scam

    IB Scam paid Rs 2.5 Cr to Bhujbal Trust for getting prime land for luxury apartment at Kalina. FIR lodged against them PWD Minister Bhujbal (Surprisingly No action against bribe giver)
    News item in TOI

    Kalina land case: ACB books Bhujbal
    Prafulla Marpakwar, TNN | Jun 9, 2015, 12.02AM IST

    inShare
    MUMBAI: A case was registered against former PWD minister Chhagan Bhujbal on Monday for irregularities in allotment of a prime piece of land in Kalina to a leading developer for construction of a library.

    The Anti-Corruption Bureau registered offences under the Prevention of Corruption Act and IPC after investigation showed that in lieu of allotment of the land, a trust floated by the Bhujbal family received kickbacks of Rs 2.5 crore from Indiabulls.

    The state had struck a Rs 124 crore deal under which Indiabulls would construct the library on a part of the plot and build luxury flats on the rest. The Indiabulls spokesperson declined comment.


    The Pravin Dixit-led ACB also booked former PWD secretary M H Shah, former superintending engineer Anil Gaikwad, former executive engineer Harish Patil, former sub-divisional engineer Gajanan Sawant and former public works undersecretary Sanjay Solanki.

    Chhagan Bhujbal and the others have been accused of misusing their official position for personal gains (PCA) and cheating and forgery (IPC).

    "I will fight the case tooth and nail. In my opinion, there was nothing illegal or criminal in allotting the land to Indiabulls under the public-private partnership scheme. The entire proposal was approved by a high-level cabinet sub-committee headed by the then chief minister. If the ACB has the guts, it should book the entire cabinet sub-committee led by the then CM," Bhujbal told TOI

    The ACB move is being viewed as the biggest setback for Bhujbal in his political career, and a blow to the Sharad Pawar-led NCP as it is celebrating its 16th foundation day. High-profile NCP leaders Ajit Pawar, Sunil Tatkare (irrigation scam), and Bhujbal's son Pankaj and nephew Samir (Sadan scam) are also under the ACB scanner.

    "I have faced several inquiries and come out clean. In fact, I am used to such probes and now also, I am sure nothing will come out (of the case). It will be just another phase in my life," Bhujbal said.

    Sources said it would be wrong to drag Indiabulls into the controversy. "Indiabulls followed laid-down procedure and bagged the contract. In fact, it has suffered huge financial losses. The library building has been handed over, but it has not been able to construct private apartments owing to lack of permissions," the source said.

    Besides the Kalina Mumbai University land scam, Bhujbal is under investigation for largescale illegalities in the construction of the Maharashtra Sadan guest house in Delhi, the Andheri RTO office and another guest house in south Mumbai, and several other projects highlighted in a PIL by AAP leader Anjali Damania in the Bombay high court.

    In the Kalina case, the PIL alleges that the PWD led by Bhujbal struck a Rs 124 crore deal with Indiabulls to construct a library for Mumbai University on nearly 24,438 sq m of a prime plot in Kalina and allowed the developer to construct residential apartments on the remaining 7,000 sq m. In lieu, Indiabulls gave a donation of Rs 2.5 crore to the Chhagan Bhujbal Welfare Foundation. All members of the Bhujbal family are beneficiaries of the foundation.

    "The team has completed its probe into the Kalina land scam and has filed a first information report. The FIR will be placed before the high court on Tuesday," the BJP minister said.

    Bhujbal was instrumental in the allotment of the plot to Indiabulls and successfully placed the entire proposal before the infrastructure committee. "Legally, it was not possible to allot the land to the developer on a nominal lease rent of Re 1 for 99 years. Bhujbal and a section of PWD officials prepared a report and placed it before the infrastructure committee. He used forged documents,'' said ACB investigating officer Balkrishna Dinkar Ghadigaonkar.

    The allotment of land to Indiabulls and donations made by it to the Bhujbal foundation are chronologically connected. "Donations accepted by the Bhujbal foundation amounts to corruption,'' Ghadigaonkar added.

    The probe against the NCP leaders gained momentum after CM Devendra Fadnavis granted permission to the ACB last December to conduct an open inquiry against them. Bhujbal, who was PWD minister in the Congress-NCP government, was questioned on three occasions by the ACB before FIR.

    Though Fadnavis had given the go-ahead to the probe, it was widely believed in political circles that the ACB may go slow in view of cordial relations between PM Narendra Modi and Sharad Pawar. "ACB has been given a free hand. There will be absolutely no political interference," a senior BJP minister told TOI.
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  • Developers will soon get bldg plans okayed online: Fadnavis

    Developers will soon get bldg plans okayed online: Fadnavis - The Times of India

    What is the timeline of this on-line approval process to be operational ? CIDCO approves the building plans in Panvel area. Is this also going to be done on-line ? Builders in this area have been fleecing the innocent buyers for delay in starting construction stating delay in approvals from CIDCO. One such case is Indiabulls, Greens residential project in Panvel. They have received hundreds of crores of rupees from the phase-2 customers 4 years back. Still they give the lame excuse of not receiving approvals from CIDCO to start construction. At the same time, this builder is not compensating the hapless buyers who have suffered so much financial loss due to delay of such magnitude. They have diverted the fund received to other projects and giving this silly excuse to fool it's own customers. State government must help in protecting the interest of these customers who are waiting for a roof over their head. Phase-2 customers have paid the amount to builder 4-5 years back. Construction has not yet started. If the builder starts construction tomorrow, still they will take 4-5 years to give possession of the flats. It means aprx. 9 years to get your flat !!! It is a case of cheating by the builder and they are taking the customers for granted. CCI and Maharashtra Government must take this builder to task ASAP.
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  • Originally Posted by GreenWorld
    Developers will soon get bldg plans okayed online: Fadnavis - The Times of India

    What is the timeline of this on-line approval process to be operational ? CIDCO approves the building plans in Panvel area. Is this also going to be done on-line ? Builders in this area have been fleecing the innocent buyers for delay in starting construction stating delay in approvals from CIDCO. One such case is Indiabulls, Greens residential project in Panvel. They have received hundreds of crores of rupees from the phase-2 customers 4 years back. Still they give the lame excuse of not receiving approvals from CIDCO to start construction. At the same time, this builder is not compensating the hapless buyers who have suffered so much financial loss due to delay of such magnitude. They have diverted the fund received to other projects and giving this silly excuse to fool it's own customers. State government must help in protecting the interest of these customers who are waiting for a roof over their head. Phase-2 customers have paid the amount to builder 4-5 years back. Construction has not yet started. If the builder starts construction tomorrow, still they will take 4-5 years to give possession of the flats. It means aprx. 9 years to get your flat !!! It is a case of cheating by the builder and they are taking the customers for granted. CCI and Maharashtra Government must take this builder to task ASAP.


    Are you sure the area where Indiabulls Green is building their complex comes under CIDCO?

    As afr as I know, CIDCO area is only upto Panvel town. Old Panvel town and beyond comes under Panvel Municipal Body, and the area where Indiabulls project is, looks like even beyond the Panvel Municipal area as well, let alone CIDCO. All CIDCO area are plotted and are part of the CIDCO master plan for that area.

    I think they are fooling the buyers in the name of CIDCO. Why not you buyers reach out to CIDCO to confirm whether it comes under their jurisdiction. I am almost certain it is not.
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  • This project is under MMRDA's rental housing scheme with four FSI. Rental flat buildings are ready.This project got sanction from MMRDA long back. Now MMRDA/Govt is not sanctioning any new rental hosing projects. Indiabulls has changed/tried to change the original plan and that is where the problem lies.
    Indiabulls is in real debt problem now. Within one year their debt has more than doubled from around 2400 crores to more than 5000 crores.
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  • Originally Posted by realestatex
    This project is under MMRDA's rental housing scheme with four FSI. Rental flat buildings are ready.This project got sanction from MMRDA long back. Now MMRDA/Govt is not sanctioning any new rental hosing projects. Indiabulls has changed/tried to change the original plan and that is where the problem lies.
    Indiabulls is in real debt problem now. Within one year their debt has more than doubled from around 2400 crores to more than 5000 crores.


    Exactly.. that's why I am surprised that they are now giving CIDCO approvals as reason for non-delivering, whereas CIDCO has no locus-standi w.r.t. that project.

    The reason, Indiabulls are not constructing is that they don't have money to do so.. they are finding it tough to stay afloat and service their debts, let alone closing them.

    In any case, I am surprised, people are still paying money to builders in projects where there is no approvals are there to build anything.. Which normally they terms as Pre-Launch. To save a few lacs the investors are facing a risk of loosing a fortune..

    Anyway, wish all the investors great luck, so that Indiabulls someday delivers what they were suppose to get cheap at almost a god forsaken place as of now and they easily gets to board the planes, from the Paper Airport nearby, that might come up in another 8-10 years.
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  • Greens approval done by CIDCO only

    FYI - CIDCO has approved the CC of phase-2 rental portion. You can find the approval details in the link below.
    CIDCO :: Cidco Introduction Page
    Indiabulls says the modified master plan for saleable towers is submitted to CIDCO for CC. They are expecting it by Sep-2015. I suspect this is linked to completion of plinth of the rental portion. Frustrating part is that the builder has taken money from buyers of phase-2 more than 4 years back and still fooling them with excuse after excuse.
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  • After NAINA notification CIDCO is the approval authority. Phase 2 rental part building CC is sought from CIDCO and is sanctioned. That means they have to get approval from CIDCO for the phase 2.When they started collecting money for phase 2 MMRDA was the authority and they did it without sanction.
    Now they have to get approval for the project with land which do not have NA even.God knows how long it will take?
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  • Thanx for the info.. I was not aware of that .. Anyway I think with Cidco now in charge of the area, it will be re submitted for approval..

    Yes agreed more delay can be expected
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  • Just came to know that Indiabulls has started sending out emails informing about the upcoming possession of the Indiabulls greens project. The mail titled "your dream home will be ready for possession soon". Though if one analyses the current stage of the construction and then status of various buildings, possession is still about a year away.

    Has anybody received this email?
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