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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

    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.

    Comment


    • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

      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.
      Attached Files
      Last edited by ria2011; May 1 2010, 12:18 PM. Reason: image missing

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      • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

        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

        Comment


        • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

          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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          • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

            Originally posted by Tower_P View Post
            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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            • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

              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.

              Comment


              • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

                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.
                -----------------------------------------------------
                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 ?

                Comment


                • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

                  Originally posted by nilayk View Post
                  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.
                  Last edited by wadia; May 1 2010, 07:05 PM.

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                  • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

                    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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                    • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

                      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 View Post
                      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.

                      Comment

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