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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

    Hi rohitawasthi;
    i also got mail from Indiabulls with revised plan and layout with costing sheet. first this all layout is change now there is no any 1.5 bhk in layout so 2BHL C is nothing but 1.5BHK.

    in cost sheet they added one infrastructure charges of 100/sqft. i dont know whey they require this charges as i agree to pay already electricity/water charges of 100/sqft.

    i got answer from management like "we would like to inform you that infrastructure charge is introduced for the benefit of the clients and for the betterment of the property .I appreciate your concern at the introduction of this charge, however this is a standard charge for all clients and payable at the time of offer of possession. Kindly refer our application form.".

    i am really worried if such charges they add in future without any reason then it will increase total cost. if u also ask for such charges they let me know.

    i am not sure they got CC and approvals and possession of this property is in 2020 or more.

    Thanks.
    Last edited by Malvish; January 8 2016, 06:17 PM. Reason: user tag

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    • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

      Hi Vijay Devkar;

      I know all the builders and developers are know to throw random charges. This might not be the case always. I am not also sure what your contract with them says. I would like to share some facts on these charges.

      The state government has levied infrastructure and amenities (I&A) charges on developers and builders who develop commercial and residential structures. Obviously, they will pass it on to us like the Auto walas or the telecom companies do. The charges ranges per sq. ft. of the basic sale price. This is commonly found with developers all over the city. The developer may also charge extra if they have gardens, playgrounds or a swimming pool. This charge ranges between 5-10 per cent of the basic cost. In addition to these costs, your power and water connections will also have charges. The state government has been compelled to arrange all the required infrastructure for insuring a sustainable development. The financial commitment within this regard too is substantial. I believe under such state of affairs, the solution of user-pay concept is being considered, may be hence the demand for extra cost.

      Some reference links which will help you understand this better: Maharashtra to levy charges on builders - Rediff.com Business & Parameters in buying a home in and around Mumbai - Moneycontrol.com

      Still I would suggest you to talk to them personally once before taking any decision (going against them or agreeing with them). Cheers!
      Last edited by Malvish; January 12 2016, 09:39 PM. Reason: user tag

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      • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

        Indiabulls Greens in Panvel, Mumbai

        What is the latest update on this project... Possession etc..

        What is the prevailing rate for this project???

        Rgds
        Last edited by MANOJa; January 18 2016, 11:14 AM. Reason: Text formatting.

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        • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

          Originally posted by nehetesj View Post
          What is the latest update on this project... Possession etc..
          What is the prevailing rate for this project???

          Rgds
          Hey nehetesj;,
          I had enquired with the team on the possession dates.. for Phase-I the possession is starting from this year itself i.e. 2016 and for Phase-II it is said to be delivered in the year 2020. Also the price for the same is starting from 5,496-5940 per sqft..still as I have mentioned above it is best if you speak to the team directly if you have any further query.
          Last edited by MANOJa; January 16 2016, 04:42 PM. Reason: User tagging.

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          • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

            Join the indiabulls buyers group on telegram.

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            • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

              I am not an official buyer yet....still in the research stage. I might close in on them in a couple of months may be. What do you discuss on the group? Would love to be a part of it!!

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              • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

                We mostly discuss the concerns and the plans of legal action. Think twice before you invest. Although they have all the approvals now for P2 and the layout etc will not change now, the old customers are not happy at all. What has been delivered in case of P1 or is being offered now in case of P2 is far inferior to what was shown on paper while making the booking. The story of delays will be no different for P2 as well.

                If you investigate in details, you'll realize its no less than a fraud. Changes in plans, reducing the carpet area but inflating the cost by adding additional charges etc. etc.

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                • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

                  Thanks for the info. I have done a little reaserch here and there on the project. Earlier they had some approval issues due to which they say the project got delayed. But since they have the plans approved for p2 now this development should not be as painful as p1. Having said this i am not going to ignore their past delays and faults. Me as an investor will look into the below:

                  1. Firstly, I am going to delay my purchase (if i finalise to go with them). Will check if the time promised by them for p1 is honoured
                  2. To avoid getting into the chage of plans or extra charges, etc cases (which I read across the web and asked some brokers about), will not not sign any paper if I dont agree with the terms. There are some charges like infra apart from the maintainence charges which according to the law you will have to pay if the builder demands (since the govt had demanded that from them). So I have to keep a buffer on this in my budget
                  3. If I keep these things aside and only concentrate on the development in and around panvel (airport, expressways, etc) and then look at my appreciation, all seems well to me (4 years and another 2 years to get ROI is good for an investor like me)

                  For now I will wait and watch on the current developments and handovers and decide if I have to buy with them. Can anybody suggest other developers in the same area if I wish to checkout their projects as well till then?

                  naveedism;, see if you can accommodate me in the group, would love to understand the actual sentiments before realizing it was too late.

                  Thanks
                  Last edited by MANOJa; January 19 2016, 12:53 PM. Reason: User tagging.

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                  • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

                    Phase I- possession

                    Got this following update on phase I possessions. Wondering if anybody received any intimation?
                    Attached Files

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                    • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

                      Phase I- possession: additional details

                      This is from the quarterly investor ppt available on ibrel website
                      Attached Files

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