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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  • :bab (66)::bab (66)::bab (66): By the way Mr. Wadia!! Have you bought a flat with IB at Panvel???
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  • Originally Posted by yogi8888
    :bab (66)::bab (66)::bab (66): By the way Mr. Wadia!! Have you bought a flat with IB at Panvel???


    I wouldn't have all this knowledge otherwise :bab (16): I have booked in phase 2, maybe I was :bab (50): when I booked.
    But seriously it should all be fine if IB take the right approach. Somebody teach them the basics of building a big business. Customer relationship!. Customer happy rahega tho aur customers ko layega. :bab (42):

    what are they achieving by
    - ambiguity about clearances
    - charging on excavation rather than on proper construction
    - not replying to emails
    - not providing proper documents before asking for 20% payment
    - giving 1 week notice for payments
    They are just spoiling their customer relationship and leaving a bad impression.
    Compare this to DLF which reduced the signed-for price when the prices crashed in NCR.
    Are we asking too much?

    But just discussing this on the forum does no good. I believe, as jia said, all the buyers should write to IBREL CEO to have their voices heard.
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  • hi

    I also booked in phase 2 and also recd the same letter but i think we should not pay any money as no ground work has started how can they send letter together both to phase 1 and phase 2 as work for phase 1 has not started i also smell something fishy here as IB companies track record is not that trust worth please can all of agree for not paying any money till we get any paper work as alone we cannot fight
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  • Wadia:
    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.

    All this as wadia said isnt the case with Indiabulls. So what do we do ?

    I called customer care today & she told that the approval documents have come but cannot be made public as they can be misued. I told then how can bank give loans, so she was asking me to approach Indiabulls finance ( double lafda )

    I'm asking - "IF ANYONE HAS GOT SIGNED PHOTOCOPY/SCANNED COPY OF THE AGREEMENT DONE WHILE PURCHASING THE FLAT ?"
    it as mentioning that 2nd installment will be post approval + beginning of construction.
    We can take that along with 15 -20 buyers at Indiabulls Vashi office, meet that guy (Rajat Mehta) & demand approval or ask to shift their deadline of 2nd installment( which they are calling 1st in their letter) ahead.
    its simple "Divided we fall - United wee stand"

    BTW as anyone gone to Indiabulls site & can upload photographs on some site ? (picasa, flickr, etc )
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  • Originally Posted by nilayk

    I called customer care today & she told that the approval documents have come


    Lets focus on one thing at the moment:
    What we need to ask them:
    "If they have all the approvals then why they cannot sign and return the booking agreement.
    If they do not have the approvals then how come they claim that construction has started."

    We can raise the loan issue later. The loan issue will be more tricky because it is like asking IB finance to give away 100 loan customers. This issue is also important but lets keep it second in the list so as to be able to focus.

    :bab (20):
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  • Dear All

    I also joined this forum, actually I am not from mumbai,otherwise surely I could go with you all to Indiabulls vashi office for the asking all about approval.

    It is the best if all can approach to IB people then any how they have to tell the reality. Finally it is not a joke to get the money from customers without having any proof...and what is the guarantee that for the upcomming Installment they will give the sufficient time....they may give some hours in that case...
    I think this is the correct time to come together and simple ask the reality
    otherwise simply we can highlight this case to other builders also loke DLF and other reputed builders also...and also there may be a better way from CONSUMER COURTS????
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  • So who is going to their office this sunday?

    Hi,
    So, could we figure out, who all are actually going to their office this sunday. And the time as well. I would like to have my parents go there the same time. Also, i know somebody from IB, a manager, i will talk to him about this and get more info. He sits in the parel office though.
    Please let me know,
    Thanks,
    Vik
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  • hi
    I am going to report this to local news paper as they can go deep in to the matter as someone told me that there is issue with the title of the land as this forum will only have few buyer but when it will come on the new paper many more buyer will know and pressure will increase as we r not accepting such a short notice with no document i will also surge other user to contact news paper
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  • Originally Posted by nilayk
    Wadia:
    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.

    All this as wadia said isnt the case with Indiabulls. So what do we do ?

    I called customer care today & she told that the approval documents have come but cannot be made public as they can be misued. I told then how can bank give loans, so she was asking me to approach Indiabulls finance ( double lafda )

    I'm asking - "IF ANYONE HAS GOT SIGNED PHOTOCOPY/SCANNED COPY OF THE AGREEMENT DONE WHILE PURCHASING THE FLAT ?"
    it as mentioning that 2nd installment will be post approval + beginning of construction.
    We can take that along with 15 -20 buyers at Indiabulls Vashi office, meet that guy (Rajat Mehta) & demand approval or ask to shift their deadline of 2nd installment( which they are calling 1st in their letter) ahead.
    its simple "Divided we fall - United wee stand"

    BTW as anyone gone to Indiabulls site & can upload photographs on some site ? (picasa, flickr, etc )


    Dear nilayk,

    in our agreement with IB it has been clearly mentioned that the payment plan is only "construction linked" (pls see the attached file taken from our agreement).
    and that 2nd installment is to be paid only after commencement of construction and there has been no mention of getting approvals as such, before the payment of 2nd installment.
    So, I think producing this agreement copy in IB office is not going to help us.
    Attachments:
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  • Visit to Parel Office

    Yesterday, I also received the notice for the payment of the 1st ( 2nd Instalment?). Strangely, I had booked a flat for myself in September 2009 and later booked one for my relative in January 2010 in Phase II.

    The letter that I have received is for my relative. The letter is dated 26th APril and the deadline of the payment is 3rd May. They have also put a penal interest for the delay in making the booking amount.

    While we would be visiting the Parel office today/tomorrow, but this high handed behaviour is extremely upsetting.

    I had several issues initially when I booked the flat in September 2009. there was absoluetly no information coming out of IB - that frustration actually led me to start this discussion on Indiarealestateforum.

    Before starting this discussions, I had tried all means to obtain correct information from IB including calling their call center who referred me to Rajat Mehta. When I first spoke to him, he had just joined IB - he even did not have a IB email ID.

    I remeber following up with IB for the first 1 lac cheque. They did not bank the cheque for almost 20 days - on repeated follow ups, I was informed that they did not have a bank account and it took them sometime to open a bank account.

    I have various emails to show that there was no feedback forthcoming from IB on the stataus of the project. However, when an email was sent as an enquiry the response came in matter of hours.

    There was also this issue of discrepency in the area. Have tried confronting them on this several times, and all response I get is that their architect has made some errors. However, there would be no repurcussion on the peeople who booked at the initially.

    Wil keep all updated on our meeting with IB.
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  • Hi Everyone

    ! Looks like I missed all the action these past few days. After going through all the posts, I do have the same question as yogi8888 to Mr. Wadia ,’ how come you have been silent when we were putting together the lists of people who are on the forum and have booked in IB. I note that you are not there either in Jia’s list or mine?’.

    Having said that, what you say is absolutely right. But guys, please read carefully through the application form you all must have signed while giving the initial amount. Some of the clauses that the we have agreed to are far worse like ‘,(pasted below).'

    This shows that we have been shown all the documents pertaining to the title of the parcel of the land. Have you been shown this? For I have definitely not seen this.

    Anyway to do my bit ( as I am sat a few thousand miles away from Panvel ), I have just now spoken to one of the customer care guys. He assures me they are awaiting some legal formalities to be completed, and that IB will be ready to sign the Apartment Buyer’s Agreement, post these formalities by end of May. They will also receive the Bank approval nos by that time.

    This is a whole lot of tosh , that has been given to all of us time and again. I am hoping you guys have more success at your face-to-face meeting (hopefully!!). In the meanwhile, I think we should formalize our forum and start a legal society of all the members ( not sure if we can when we don’t even have a Buyer’s Agreement, Jia might have more insight on this!). But I think, we will have to cough up the second installment as IB will be happy to let go of 30 customers as they can easily get new ones at higher current rates!

    Ria

    PS : One more thing, he said that Phase 1 and Phase 2 would be delivered at the same time which surprised me as I thought, Phase 1 was to be delivered 6-8 months before Phase 2.
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  • Hi

    it is all confusing can we make a list who r paying who r not and were is jia had lot to say abt roads airport and other thing but no commet on real issues I think I agree with wadia better to pay some penalty and lossing money
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  • Again something to think abt what work will they start in rainy season I think they r fooling us I am sure I am not paying any money till is see some real development or agreement they can also fool us by doing some petty things on the site
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  • Originally Posted by Tower_P
    Hi

    it is all confusing can we make a list who r paying who r not and were is jia had lot to say abt roads airport and other thing but no commet on real issues I think I agree with wadia better to pay some penalty and lossing money


    I think you meant Ria, not Jia. I am with Wadia and Jia and TowerP in not making payment of the 2nd instalment. (I have yet to receive any intimation letter though from Indiabulls for payment; I had already paid the balance of the 1st instalment of 10%.) Cust_india bulls' follow-up with IndiaBulls at their Parel ofice would be material for taking an informed decision.
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  • Visited the Parel Office.

    1. IB acknowledges the short notice and has suggested to write to the Customer care for some more time. They can extend the time to 14th May.
    2. for penal interest which has been levied, they have suggested again to write to the customer requesting for the waiving off the penalty.
    3. As metioned earlier,I have not received the letter. IB has said to make the payment anyway, failure to make the payment before the deadline would attract penal interest.

    Am afraid not much insights could be gained.
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