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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  • hi sonu

    Hi sonu watever details i got frm my source i have already updated..this is wat i knw latest..but seriouly let all of us be positive..our project is really in demand..our rate is gone upto 3050..wat else u want..lets keep some patience..:)
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  • Hi guys

    I would like to know from the legal experts on this thread -
    1.can the builders delay the agreement, if so how long?
    2. what is the recourse left with us buyers if the said agreement is not concluded for next 2-3 say even 5 years due to non receipt of necessary approvals from the local bodies?
    3. Can we charge them interest on the prepaid amount for the delayed period?
    Pl help.:)
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  • Has Loans/sanctions approved?

    Friends,

    I have booked a flat in IB - panvel project and am due to pay my 20 percent of the total cost.

    Have couple of questions.

    1. Has Banks like icici/hdfc others approved the project for loans? (or is it still IB Finance)
    2. The possession intially was said to be mid 2012, when is the same expected now?
    3. Hows the response to this project, as in, is the demand good and is it considered to be a hot property?

    Pls let me know your thoughts and I really appreciate your help.

    Thanks,
    Vishal
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  • oye prabhakar, are u crazy?? Sherr ke muhh mein haath daal raha hai. Bhool ja woh 1 lakh aur doom daba ke bhaag. Pichle ek saal se logo ki raat ki neend kharaab ho gayee hai. Tu kyu apna BP badane par tula hai.
    Forum ki baaki post padd, apni akal laga, woh 1 lakh wapis leh aur pune mein baner/wakad mein ready posession khareed. Agar investor nahi hai ya extra paisey hai ya mumbai mein sadney ki majboori hai tho kahee aur khareed.
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  • I would suggest you to have a look at Casa Rio as an alternative. The rate is lesser, centrally located between Eastern Express Highway and Navi Mumbai. Secondly the phase 1 (casa bella) is getting ready and possessions will start in a few months. Even though it is delayed, atleast you can see the structures. Another point is about their vision of the location...let me know if you require further information.

    Originally Posted by rvdh71
    Hello there

    I have been following the IREF threads for a while now and i must compliment all those who have maged to make this as one of the more vibrant discussions on the IREF. Lots of discussions

    HIRCO vs IB
    Panvel vs Khargarh
    IB vs Ulwe
    etc

    For some one not as well informed as say Wadia or sweetuniya , it does leave the person thoroughly confused.

    I am however considering investing in Indiabulls Panvel, but i am deterred somewhat by

    1. Lack of clarity on title (banks not readily approving the project as yet )

    2. the apparent uprofessional approach of the company, as narrated by members.

    3. lack of sufficient knowledge of alternatives.

    Would you consider it prudent investment (rate 2950). I see this asset primarily as an investment, with time horizon of 3 to 5 years.

    Other alternatives suggested to me were Ulwe, saying it is a more happening location (than Indiabulls which is in "middle of nowhere" ) and hence stands to gain more by the airport & transharbour link etc? I have no personal appreciation of merits / demerits of ulwe as such.

    Given the present limitations and alternatives, should i still go ahead and invest in IB

    Confused pse help.

    Ravi
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  • Originally Posted by vio2409
    I would like to know from the legal experts on this thread -
    1.can the builders delay the agreement, if so how long?
    2. what is the recourse left with us buyers if the said agreement is not concluded for next 2-3 say even 5 years due to non receipt of necessary approvals from the local bodies?
    3. Can we charge them interest on the prepaid amount for the delayed period?
    Pl help.:)


    Hi Vio. I am not a legal expert however am a property consultant and an investor myself. If you have received the agreement, then usually it will contain a date by which the builder expects the project to be completed failing which he will pay interest at the specified rate. But usually we cant do much due to the following reasons
    1. The agreement comes in only once the plinth is in place. That means that once the plinth is completed the developer knows approx by when he can hand over possession but till then he enjoys the 20% of the agreement value without paying any interest or any liability
    2. The allotment letter will usually have the clause as to what happens if the project is delayed (mostly it will talk about uncontrollable circumstances, approvals etc and no interest will be payable upto almost a year and normally he has the right to return you the entire money with some simple interest that a bank would pay)
    3. The entire agreement is biased towards the developer since his lawyers make the agreement and you dont have a say in it...either you accept it or reject it. The same is true if you sell something that you own...the buyer has to accept your terms or forget the offer
    4. However you can approach the consumer court...one of the recent rulings that i had read about went in favour of the buyer...the developer was asked to pay interest on the delayed period (but am not sure as to how long the project was delayed).

    Do let me know if I could be of any help. All the best.
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  • Friends,

    By any chance is it possible that IB are deliberately not submitting the papers for banks to approve the loans? - so that people would be forced to go in with IB Finance?

    I could be wrong? But, just a possibility?
    Share your thoughts?

    Thanks...
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  • floor

    Hi,
    As per my chat with IBsales, the phase 1 and 2 will have 32 floor buildings.:bab (22):

    Also i am hearing rumors on IB acquiring 55acre more land... area near warehouse. Some one who has good contact with IB sales need to check.:bab (34):

    Thanks



    Ashky
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  • Hi every1

    guys any1 got the mail from indiabulls regarding their commercial & retail rates??
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  • HI Peeya

    Check the commercial blog.

    Ashky
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  • Originally Posted by peeya
    guys any1 got the mail from indiabulls regarding their commercial & retail rates??


    Yes, I also got a mail from IB with commercial rates
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  • Site Progress

    Any one knows about the work status in the site? Still excavation work going on or it is stopped?
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  • Indiabulls green: (1) location is good if you think to stay there after 30 years (2) construction will be delayed by 5 years...I bet..(3) 3050/sq ft is artificial....can anybody re-sale it at this rate?
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  • visited the site earlier this week.

    Excavation work is still going on. could not go to the actual excavated site where the initial phase I towers are going to come up. IB has put up a RMC making equipments in the newly acquired 55 acres. The activity at the site was at a normal level - the people at the site claim that they are using some "novel technology" by which they would be able to complete the project in 2 years. They clain that in the next three months, we can see the foundation and plinth.

    In conclusion I can only say that something is happening on the construction site. Its not really buzzing with a lot of activity and I could not feel a "sense of urgency" in the activity which was going on.

    No information on status of the approvals.
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  • Hi Guys,

    thanks HighriseMumbai for your advice. Hey where are you 2 - Kamaal & Wadia. There is dearth of current info on IB Greens on this thread. Have you moved to another thread?

    The current development on the airport being planned to shift out of Panvel, this investment looks a dampner. Any responses or postive feeds??
    :bab (38):
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