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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  • typical Indian mentality and circus

    Boss .. This is a typical Indian mentality and how I wish it changes but it wont change . We as Indians including me will crib and crib but wont do anything about it and that is the bitter truth . take it or leave it . we cannot do anything collectively as proven time and again and this time it is no different . stop thinking it as other peoples problem and think of it as "OUR " problem

    I am sorry vented out .. dont want to sound like a neta .. but seriously good luck
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  • Originally Posted by sonu7778
    i still havent recvd my letter as yet, any bdy else riding in the same boat as me ...??


    I haven't received any email so far. Hope it does not come till the papers are in place.
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  • Where are you Jia? What do you say abt the 2nd instalment minus the papers?
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  • Originally Posted by bubla
    Where are you Jia? What do you say abt the 2nd instalment minus the papers?


    Hi Guys :bab (55):,
    Sorry had been on holiday so did not access the forum. Mr Wadia has raised valid points. Why is IndiaBulls hesitating in giving a copy of the commencement certificate and signing the booking agreement.

    If we have 20% invested they could use it as leverage to have their say. We should all be united and asking them to show us the papers detailing the rate and the area we agreed to.

    In worst case, 18% p.a. interest on 2-5 lakhs is probably 150-250 Rs a day, which should be no big deal as compared to the peace of mind (which unfortunately has been missing for past 7 months).

    If they have a valid reason why they cannot give us the papers we can consider it but till then we have no choice but to doubt their intentions.

    (Personally
    Optimistic Suspicion: The reason they are not showing us the documents is because they do not have all the clearances in place. It is not very illegal to start excavation work on your land if you do not have CC.
    Pessimistic Suspicion: They want to cheat us. I wouldn't leave my imaginary horses running as else I would be considered a scaremonger, but trust me it is very difficult to trust a builder)
    Jia
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  • Indiabulls 2nd installment deadline

    Mr. Wadia has put forward a very valid point.
    I've received a letter for 18 % on the balance of 1st installment which i paid a little late . & 10% of 2nd installment with the last day as May 3rd.
    I was really shocked as Indiabulls has not supplied anything else apart from computerized generated single receipt.
    We should all assemble at Indiabulls office, Vashi this sunday 11 am ? & take a morcha to meet Rajat Mehta to ask for 1) waiving of that 18 % levied on 1st installment & 2) showing necessary approvals, slab construction begin photographs & 3) increasing deadline from may 3rd to end of May i.e May 30.

    Unless we do this now we cant put more pressure on Indiabulls to fulfill construction on time & other unlikely things.

    Thx-Nilay
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  • Rajit Mehta - This person was literally calling me every alternate day for the 1 lakh initial payment which i did few days back.

    After making payment i sent him atleast 4 emails to give some information about the overall acquired area and layouts, plans etc and seeked some clarification about the payments structure- but he not cared to reply back.

    I am totally shoked to see the atitude of these indiabulls guys

    thanks

    nano
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  • Originally Posted by nilayk
    ...
    We should all assemble at Indiabulls office, Vashi this sunday 11 am .
    Thx-Nilay


    nice suggestion... i can drop in ...what about others ?
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  • Originally Posted by avdhut_s
    nice suggestion... i can drop in ...what about others ?


    Sorry Nilay and avdhut_s. I have planned a be out of town so it won't be possible for me. I will definitely give them a call around that time.

    Thanks Nilay and avhdhut_s for your initiative. I also urge all members who are in a position to go to vashi to please join.

    As pointed by Nano2010, IB guys just use our payments as a leverage to dictate terms to us. We should not fall in their trap but rather expect fair treatment from them.

    ONE OTHER IMPORTANT THING:
    Can each of the buyer please use the option to email customer care to raise the issue:
    customer.careindiabullscom
    ceo.realestateindiabullscom

    As I understand the issues are:
    1) Unexepectedly a letter ends up on your door and asks you to pay 2-5 lakhs in 7 days or face penalty. (Even the don gives more time I presume :-)). So please can they give enough time like 2-3 weeks.
    2) More importantly: Why has Indiabulls not provided us any formal documents as of yet (Booking agreement and Commencement of work clearance copy). When do they expect the stamp duty and registration to be done. How do they expect us to part with 20% without any formal document about what we are buying.

    Please mention your flat number and wing so that they know it is a genuine buyer concern and not one annoyed guy using several ids.

    And for those you can spare few more minutes please call 02230440623/24/25.

    Thanks.com

    As I understand the issues are:
    1) Unexepectedly a letter ends up on your door and asks you to pay 2-5 lakhs in 7 days or face penalty. (Even the don gives more time I presume :-)). So please can they give enough time like 2-3 weeks.
    2) More importantly: Why has Indiabulls not provided us any formal documents as of yet (Booking agreement and Commencement of work clearance copy). When do they expect the stamp duty and registration to be done. How do they expect us to part with 20% without any formal document about what we are buying.

    Please mention your flat number and wing so that they know it is a genuine buyer concern and not one annoyed guy using several ids.

    And for those you can spare few more minutes please call 02230440623/24/25.

    Thanks.com

    As I understand the issues are:
    1) Unexepectedly a letter ends up on your door and asks you to pay 2-5 lakhs in 7 days or face penalty. (Even the don gives more time I presume :-)). So please can they give enough time like 2-3 weeks.
    2) More importantly: Why has Indiabulls not provided us any formal documents as of yet (Booking agreement and Commencement of work clearance copy). When do they expect the stamp duty and registration to be done. How do they expect us to part with 20% without any formal document about what we are buying.

    Please mention your flat number and wing so that they know it is a genuine buyer concern and not one annoyed guy using several ids.

    And for those you can spare few more minutes please call 02230440623/24/25.

    Thanks.com

    As I understand the issues are:
    1) Unexepectedly a letter ends up on your door and asks you to pay 2-5 lakhs in 7 days or face penalty. (Even the don gives more time I presume :-)). So please can they give enough time like 2-3 weeks.
    2) More importantly: Why has Indiabulls not provided us any formal documents as of yet (Booking agreement and Commencement of work clearance copy). When do they expect the stamp duty and registration to be done. How do they expect us to part with 20% without any formal document about what we are buying.

    Please mention your flat number and wing so that they know it is a genuine buyer concern and not one annoyed guy using several ids.

    And for those you can spare few more minutes please call 02230440623/24/25.

    Thanks.com

    As I understand the issues are:
    1) Unexepectedly a letter ends up on your door and asks you to pay 2-5 lakhs in 7 days or face penalty. (Even the don gives more time I presume :-)). So please can they give enough time like 2-3 weeks.
    2) More importantly: Why has Indiabulls not provided us any formal documents as of yet (Booking agreement and Commencement of work clearance copy). When do they expect the stamp duty and registration to be done. How do they expect us to part with 20% without any formal document about what we are buying.

    Please mention your flat number and wing so that they know it is a genuine buyer concern and not one annoyed guy using several ids.

    And for those you can spare few more minutes please call 02230440623/24/25.

    Thanks.
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  • So do we pay this installment or no? Time till Monday.
    Sheer arm twisting. make a poke on barren ground and raise money like this!!! Construction miles away.
    Visiting their Vashi office Saturday afternoon.
    Hope to bump in some of you.
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  • once you have paid to them, they wont even talk to you. They need your money now, so they may spare you a few minutes.
    Until you are convinced don't pay. Where you have agreed to pay 20-50 lakhs, spending 1k to 2k in late fee is no big deal as compared to repenting later. Lets hope for the best but at the same time be more practical/sensible to avoid the worst.
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  • spoke to ib customer care, this is what i was told:

    master plans not yet approved.

    agreement may take a couple of months more.

    ready to extend notice period by about a week, on request.

    would give adequate notice in future.
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  • Originally Posted by raash
    spoke to ib customer care, this is what i was told:

    master plans not yet approved.

    agreement may take a couple of months more.

    ready to extend notice period by about a week, on request.

    would give adequate notice in future.


    As Jia suspected:They have not got clearance yet.
    In this case, I do not see how they can demand the money now. They should have waited for the clearance.
    If they cannot sign the agreement because it is not legal, they should not claim to have started construction and demand payment.
    Ridiculous is all I can say.
    As regards the payments, I think they have an advantage and they can thrash us to pay.:bab (58):

    Inspite of this we should not be quiet. As Jia said, we should all express our concerns to Indiabulls customer care and their CEO. They should not take us for granted. As yogi said we should not tolerate "Sheer arm twisting."
    We can let the deadline issue take back seat as they have realized their mistake.
    However they need to promise more clarity, provide the documents as soon as possible and not resort to arm twisting in future.
    We did not choose to pay more to a big builder to be meted such a treatment.
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  • I also think it would not be wise to pay the 2nd installment just like that without signing the agreemnet for sale. Where is the proof that the work has commenced?? This is the time for us to get things clarified, but should be done before making any payment.
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  • Loan from Indiabulls finance

    these people are also offering preapproved loan 8%, this also may a trick to get the customer for both the company name Indiabulls finance and realestate
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  • Originally Posted by Greeninvestment
    these people are also offering preapproved loan 8%, this also may a trick to get the customer for both the company name Indiabulls finance and realestate


    The big problem with loan is you have to pay it back no matter what happens with the property:bab (30):
    If there is no clearance, no agreement, no registration what is the point of paying 20%.
    They will let you borrow and tie you up to a loan when infact they should not be asking the money now.
    Normal timeline should be:
    1) You pay booking amount and with the builder sign the booking agreement
    2) You pay the 10% and register the property.
    3) You now avail a loan from the bank of your choice and pay the builder as per the schedule.

    This pre-booking thing and Indiabulls' strange attitude is driving some people nuts:bab (24):
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