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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  • cust_indiabulls_panvel:
    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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    Thanks for the valuable information you have provided - cust_indiabulls_panvel.
    Another thing I was little worried about is what are the set of important documents which Indiabulls has been hiding. Did they ever talk on that of gave you ?
    1. Agreement signed by both Indiabulls & you.
    2. Clear Title/Approval paper from government ?
    3. Loan sanction tentative dates from other nationalised banks.

    Incase anyone is going to parel/ vashi office pl. get this details.
    btw whats the update on the construction at Panvel, indiabulls site ?
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  • Originally Posted by nilayk
    Another thing I was little worried about is what are the set of important documents which Indiabulls has been hiding. Did they ever talk on that of gave you ?
    1. Agreement signed by both Indiabulls & you.
    2. Clear Title/Approval paper from government ?
    3. Loan sanction tentative dates from other nationalised banks.

    Incase anyone is going to parel/ vashi office pl. get this details.
    btw whats the update on the construction at Panvel, indiabulls site ?

    I totally agree with Nilay?
    Why are IB hiding the information?

    If there is nothing fishy then why they cannot sign the agreement?

    After you have piad this installment they may again delay all the documents for 6 months.

    This is the right time to ask them for all details. Ask them to give u 7 days extension and then request clarification on why they cannot provide the documents and if there is no clearance how come construction has started and payment is being requested?

    Also did everybody email to the ceo as requested by Jia? I have emailed and have not got any reply so far. But unlike Ria I am not being least interested and coughing up the money without being sensible to know what's going on? People may have lots of extra money and may be NRI investors but for me it is my hard earned money for a flat I intend to live in.

    Even without clearance they could start excavation as the land belongs to them. What if they never get clearance. What if the airport gets approved first and the 25 floor towers are too tall for AAI to give noc. Until clearances are obtained the whole project exists on paper!

    What if tomorrow IB quotes the new flat area (16xx and 12xx) for all bookings. The charge for transferring the name is 15%. So they will say either take 5% of your 20% and walk away or agree to the new area!

    I am not saying that we should be sceptic but in matters related to Money we should be sensible and practical and insist on written proof.
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  • For all it is worth, let me share my experience which is akin to what we all are undergoing in the current project with IB.

    I had booked property (soft-launch as it may be termed) in Rustomjee Urbania(Thane). Initial amount was 50,000/- followed by 20% (not 10% as we paid here) within a month. Balance was construction based, Plinth... slab-wise. Now this 20% was paid in Oct.2006 and work started only in Jan. 2008. Agreement was registered sometime in Feb. 2008. In the course of those 16 months, I too was given some vague responses that all permissions are not in place and hence the delay. We all know the red-tapism involved in having various permissions in place, especially so when this is a town-ship, so probably things will take some time at the onset.
    I think in most cases builders take 20% upfront and the balance payments start only after completion of plinth. In this case they have taken it 10 + 10%. However the high-handedness regarding the time-frame (week) to make the payment is grossly unfair and should be collectively addressed.
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  • Thats right Sagi .

    Few builders take 20% , but it is clearly defined and made aware to buyers at the start. This is shear greed from IB to demand 10% additional money now.

    I have pre-booked in phase 2 and paid 1 lakh till date ( I have also pre booked in Hyde park - 50 thousand initially - and will decide till mid/ end may which way to go)

    I wrote to Rajit several times and made him clear in emails that since the cheque for initial amount is cleared on 28th april- i need another 30 days to pay the balance of first 10%.

    After repetative follow up with these guys no replys received. I am keeping myself aware with how things are rolling out in next 30 days before paying remaining money of first installment. In fact will be ready to wait for another month and wont mind paying some interest before i pay remaining money of first 10%.

    So far not received any letter/ email for the another 10%.

    please keep updating about the happenings. I am going to call these guys again on Monday.

    I would have certainly joined you guys at their Vashi office- but couldn't as i am out of town these days.


    thanks

    nano



    Originally Posted by sagi7
    For all it is worth, let me share my experience which is akin to what we all are undergoing in the current project with IB.

    I had booked property (soft-launch as it may be termed) in Rustomjee Urbania(Thane). Initial amount was 50,000/- followed by 20% (not 10% as we paid here) within a month. Balance was construction based, Plinth... slab-wise. Now this 20% was paid in Oct.2006 and work started only in Jan. 2008. Agreement was registered sometime in Feb. 2008. In the course of those 16 months, I too was given some vague responses that all permissions are not in place and hence the delay. We all know the red-tapism involved in having various permissions in place, especially so when this is a town-ship, so probably things will take some time at the onset.
    I think in most cases builders take 20% upfront and the balance payments start only after completion of plinth. In this case they have taken it 10 + 10%. However the high-handedness regarding the time-frame (week) to make the payment is grossly unfair and should be collectively addressed.
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  • Site Photo

    With Lot of difficulties I could get a photo fro out side of the site. IB people have restricted any photography inside the Site.

    Interestingly Now the Plan is devided in to multiple sectors ( As per the layouts available with Site personals) No more Phsae 1 or Phase 2. Its now devided into Sector 1,2,3. Initially the are developing three sectoes each with six building.

    We need to now find where is our building and PLC, etc..

    Can some on who has visited their office throw more lighe on this development....
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  • Thanks Pratik!!

    This photograph is very very useful!
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  • Second instalment

    I have yet not received any letter etc for second (or as said by others, first after the booking amount) instalment. I have booked in Phase II (Tower T, 2BHK). Has anyone paid this ? Have bookings doen in Phase II received this letter ? I am absolutely clue-less.
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  • Dear Nano,

    On the previous page the payment plan has been listed by Bhushan. there is no ambiguity 10% at booking and 10% on commencement of work. So the payment schedule had stated that 20% would have to be paid upfront.

    Has there been any development vis-a-vis the visit of some flat-owners to their Vashi office?
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  • hi

    thanks pratik for the photo it was helpful

    and hitegoss4 I have also booked in phase 2 and recd the letter for payment
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  • have booked in phase 1 & still havent recieved the letter for the 2nd instalment
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  • Last date for 2nd installment was 3rd May, but I requested customer care & they said you can pay the cheque by 7th or 8th. I plan to push it till 14th. I asked the customer care to give me a reply via email & he said the reply would be delayed as they have received a lot of request. But dont worry.
    I was told by my broker that the photocopy of the form/agreement will be given to me in 2 days. Is that a legal document or according to expert there should be something else ?

    The positive side: Appears that just to press people from giving the money on time indiabulls has levied strict fine + deadline.

    Negative side: What is the top secret to hide approval documents which has come & why is the agreement copy delayed.

    BTW who all are paying & who all are not the money ?
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  • hievry1

    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.


    HI JIA:bab (55): WE REALLY NEED UR SUGGESTION ATLEAST ME.....I WAS TOLD THE SAME THINGS..JIA AND MR WADIA HAVE REALLY PUT VALID POINTS ON FORUM...JIA HAVE YOU AND MRWADIA HAVE U PAID2ND INSTALLMENT??
    NOW IB GUYS HAVE TOLD ME SAME WHAT THEY TOLD TO RASH SO NOW WAT SHOULD WE EXPECT:bab (39):..JIA AND MR WADIA ONE OF SALES GUY IS SAYING ME WE CANT HELP WATEVER INFORMATION WE R SUPPOSE TO SHARE WE TOLD U, COZ THEIR HIGHER MANAGMENT HAVE TOLD TO GIVE THIS EXPLANATION TO CLIENTS..NOW WE HAVE TO FIND THE SOLUTIONS..
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  • Originally Posted by peeya
    HI JIA:bab (55): WE REALLY NEED UR SUGGESTION ATLEAST ME.....I WAS TOLD THE SAME THINGS..JIA AND MR WADIA HAVE REALLY PUT VALID POINTS ON FORUM...JIA HAVE YOU AND MRWADIA HAVE U PAID2ND INSTALLMENT??
    NOW IB GUYS HAVE TOLD ME SAME WHAT THEY TOLD TO RASH SO NOW WAT SHOULD WE EXPECT:bab (39):..JIA AND MR WADIA ONE OF SALES GUY IS SAYING ME WE CANT HELP WATEVER INFORMATION WE R SUPPOSE TO SHARE WE TOLD U, COZ THEIR HIGHER MANAGMENT HAVE TOLD TO GIVE THIS EXPLANATION TO CLIENTS..NOW WE HAVE TO FIND THE SOLUTIONS..


    Hi Peeya,

    As it seems IB is not bulging. You alone probably cannot push them much as others would have started paying. In this case I will suggest you pay them soon.

    Whatever points wadia has raised are perfectly right. But as it seems we are helpless as we stand alone rather than united.

    I too have delayed my payment but as it seems nothing much (in terms of IB co-operation) will happen between now and when I have to pay.

    However before giving the money use the opportunity to tell them that their way of functioning is deplorable:(.
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  • is there anyone frm phase 1 who has not received the letter?
    im begining to wonder now, also wud appreciate if u cud tell me was this letter sent by courier or wot?
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  • Originally Posted by sonu7778
    is there anyone frm phase 1 who has not received the letter?
    im begining to wonder now, also wud appreciate if u cud tell me was this letter sent by courier or wot?


    I booked in Phase I and paid booking amount (Rs. 1 lakh) and subsequently, balance of 1st instalment. I have yet to receive any letter/mail/call from indiabulls on the payment of the second instalment. Hope I don't till all the papers/commercial bank loan availability are in place.
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