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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  • So Wadia.. are you planning to subscribe to the public issue of IB RE.. If the forum members are anything to go by, then they have made decent sale and if the issue price is attractive, you can make money..

    Originally Posted by wadia
    After the experience from Indiabull RE, anyone will hesitate to do business with any of the Indiabulls companies.
    Appreciation wise, any property in Mumbai has risen 50% over the past 1 year.
    But given the delays, misinformation and lack of information, Indiabulls has provided the maximum appreciation in headache.
    Most people who are involved in this project are involved because of the location, the project and the prospect. As regards to the builder (Indiabulls) I presume most people are distaisfied, given that most NRIs invested with Indiabulls expecting a world-class service. In such a case doing business with Indiabulls again & paying the whole cost upfront for saving 2-5% will be a personal choice. Indiabulls RE and Indiabulls Finance are separate companies so one should not compare the two, but obviously the brand of Indiabulls has taken a beating after the RE customer grievances.

    As regards the project, such loans willl just help Indiabulls shore up the liquidity required to progress faster with the project.
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  • Originally Posted by indiabulls
    Originally Posted by nilayk
    I too got a call from indiabulls executive for 10 % flat discount on loan taken telling that "mota mota hisaab kiya to aapkey 3 lac saving hai versus 40000/- saving" .

    Can you pls confirm the number from which you received the IB Finance call?? Is it 30439480 or 30439465???
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  • Originally Posted by Sharpj
    So Wadia.. are you planning to subscribe to the public issue of IB RE.. If the forum members are anything to go by, then they have made decent sale and if the issue price is attractive, you can make money..

    I didn't look into it. Maybe it is, maybe it is not. Do not put all your eggs in the same basket. If you have to invest, invest moderately.
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  • Originally Posted by wadia
    There are two sides to the aiport tussle:
    1) CIDCO, MAHA Govt., Aviation Ministry (Prafful Patel, NCP)
    2) Jairam

    Anything the first side says is wishful thinking.
    Anything the 2nd side says is reality.

    As it appears there is a meeting of EAC on 22nd. Which most probably would be followed by a visit by the EAC. Till then everything is speculation.

    Last month the government compromised to spare the mangroves by shifting the non-aeronautical (commercial site) to the south of the airport. But now there are quarters of CIDCO who want the plan to remain unchanged (for corrupt reasons).
    The bottom line is that CIDCO wants to hack the mangroves, not because they are needed for the airport but because they can acquire and sell that extra land.

    If CIDCO offers the compromise, Jairam may see a smooth exit to this tussle, where both parties can cite a win-win situation. Else this will just prolong. I believe there is no option for CIDCO but to compromise.

    Add to the airport misery:

    Debi Goenka, an environmentalist, said, "The state government and CIDCO will have to get the approval of the high court, assuming that the environment ministry clears the project. The high court has already said that no activity will be allowed, which destroys mangroves on and within 50 metres of the mangroves."

    As rightly pointed out by someone before, these BEAG oldies are a menace to the society.

    Can someone ask IB as to whether and why the project clearance is linked to airport clearance. The height restrictions seem ok. What does the raigad collector or IB want? Somehow it seems that IB is showing no urgency either. Is that because they need more cash (sell more flats)?
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  • What are the heights of the tower? Maybe they want to build huge towers to make money if the airport does not materialize...
    I have not yet invested in IB.. feel better to wait, even though I might end up paying some premium later.. currently risks are high..


    Originally Posted by wadia
    Add to the airport misery:

    Debi Goenka, an environmentalist, said, "The state government and CIDCO will have to get the approval of the high court, assuming that the environment ministry clears the project. The high court has already said that no activity will be allowed, which destroys mangroves on and within 50 metres of the mangroves."

    As rightly pointed out by someone before, these BEAG oldies are a menace to the society.

    Can someone ask IB as to whether and why the project clearance is linked to airport clearance. The height restrictions seem ok. What does the raigad collector or IB want? Somehow it seems that IB is showing no urgency either. Is that because they need more cash (sell more flats)?
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  • Originally Posted by Sharpj
    What are the heights of the tower? Maybe they want to build huge towers to make money if the airport does not materialize...
    I have not yet invested in IB.. feel better to wait, even though I might end up paying some premium later.. currently risks are high..

    They are claiming 32 floors. They have got 80 acres so it makes sense for them to have lesser number of tall buildings and more open space.

    As per the records they have permission up to 3rd floor and now they have submitted their plan for approval.

    It is more difficult for them to sell now as their prices are within striking distance of Hirco.

    I have not invested either. Peeya gave me hool so I pretended (else they will kick me off this investor community). This however does sound like an interesting project, so it's fascinating to see how it turns out. I would have invested but am short of money by a small amount (I need 99% more)

    You may be right, IB probably are waiting to see if the airport materialises before spending big money. If it does they will raise the price and invest more of their own money. If it does not the project will probably be smaller.

    The airport I think is not so crucial (although the chances of the airport being in pnavel site are 95%). Without the airport, this is still an annexe of Navi Mumbai, on the highway and has the exclusivity of a township.

    However airport will definitely add big value as Gulf City, Reliance SEZ, other builders, tran harbour, metro and lot of other investments hinge on airport.
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  • Also they are waiting for theie public issue to go through. No point in putting debt funds in a project and increase the project cost with the interest. If they are able to get a hefty premium on their issue, they can begin construction.. They can afford to maintain the current prices for some more time if demand does not pick up.. with debt fund, cost of the project does increase if sale does not pick up..

    Originally Posted by wadia
    They are claiming 32 floors. They have got 80 acres so it makes sense for them to have lesser number of tall buildings.
    As per the records they have permission up to 3rd floor and now they have submitted their plan for approval.
    You may be right, they probably are waiting to see if the airport materialises before spending big money. If it does they will raise the price and invest more of their own money. If it does not the project will probably be smaller.
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  • Originally Posted by Sharpj
    Also they are waiting for theie public issue to go through. No point in putting debt funds in a project and increase the project cost with the interest. If they are able to get a hefty premium on their issue, they can begin construction.. They can afford to maintain the current prices for some more time if demand does not pick up.. with debt fund, cost of the project does increase if sale does not pick up..

    I think they have had considerable number of buyers. In theory the project by now is self sustaining, but a company like IB is obviously greedy and will like to move money to other projects and to increase land bank.

    What they do not realise is the downside of delaying the project. Had they been going fast, in a city like Mumbai they would have even more number of buyers and would have managed to sell 80% of the project in 1 year.
    They are following the old strategy: Delay and gain.

    Compare their Indiabulls sky with other projects in south mumbai. You will see the same old strategy.

    I am not sure which IPO you are referring to. As I understand, Indiabulls RE is already trading on BSE (http://www.google.com/finance?q=BOM:532832) Their market cap is 1/8th of DLF :) but their attitude is 8 times that of DLF.
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  • Greed has no bounds.. see they have enough people in the Panvel project, but they want to maximise profits.. why borrow and invest and reduce the margins..

    Now that is not the case with IB sky or whatever in lower parel project.. hence pay 10% now.. balance later schemes are on..

    They should steam on once they have the issue money.. if the airport mess gets sorted, they will charge a premium on the balance apartments.. to maximise the profit..


    Originally Posted by wadia
    I think they have had considerable number of buyers. In theory the project by now is self sustaining, but a company like IB is obviously greedy and will like to move money to other projects and to increase land bank.

    What they do not realise is the downside of delaying the project. Had they been going fast, in a city like Mumbai they would have even more number of buyers and would have managed to sell 80% of the project in 1 year.
    They are following the old strategy: Delay and gain.

    Compare their Indiabulls sky with other projects in south mumbai. You will see the same old strategy.
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  • Originally Posted by Sharpj
    Greed has no bounds.. see they have enough people in the Panvel project, but they want to maximise profits.. why borrow and invest and reduce the margins..

    Now that is not the case with IB sky or whatever in lower parel project.. hence pay 10% now.. balance later schemes are on..

    They should steam on once they have the issue money.. if the airport mess gets sorted, they will charge a premium on the balance apartments.. to maximise the profit..

    Can you please tell which IPO you are referring to. As I understand, Indiabulls RE is already trading on BSE (http://www.google.com/finance?q=BOM:532832) Are they divesting more stake? Can't they get from Uncle Mittal?
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  • IB real estate is inded a listed company and is sitting on a lot of funds.

    IB real restate also holds more than 50% stake in IB power, wich recently went for IPO.

    The problem has been that panvel project did receive a tremendous response - which led to IB real estate changing the plans. I agree that the last few months have been very painful.

    However now that the plans have been finalized, the approvals would be there by this year end or early next year.

    However , I would again repeat myself - from what i hear about the new plans, it seems this would be a world class project. I would encourage all forum members to try and access this new plan from the IB office.

    If the project really comes out as world class, I would not really mind the 4- 6 month delay. As I have always said, it remins to be seen.
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  • See I am not able to find any article for it, but I heard from someone that they plan to come out with an issue and hence these huge ads in the paper for the last 2 weeks.. I will need to check with that guy.. because he also mentioned it is a buy rating from Duetche Bank..

    Originally Posted by wadia
    Can you please tell which IPO you are referring to. As I understand, Indiabulls RE is already trading on BSE (http://www.google.com/finance?q=BOM:532832) Are they divesting more stake? Can't they get from Uncle Mittal?
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  • Originally Posted by cust_indiabulls_panvel
    IB real estate is inded a listed company and is sitting on a lot of funds.

    IB real restate also holds more than 50% stake in IB power, wich recently went for IPO.

    The problem has been that panvel project did receive a tremendous response - which led to IB real estate changing the plans. I agree that the last few months have been very painful.

    However now that the plans have been finalized, the approvals would be there by this year end or early next year.

    However , I would again repeat myself - from what i hear about the new plans, it seems this would be a world class project. I would encourage all forum members to try and access this new plan from the IB office.

    If the project really comes out as world class, I would not really mind the 4- 6 month delay. As I have always said, it remins to be seen.


    Maybe you are right and they have not sold enough flats. They did however claim that they have nothing left below 17th floor (maybe the usual marketing strategy).
    The 2-2 months have now made the delay to be more than 12 months. I think buyers should insist that any further delay will be intolerable, as otherwise the wait seems to be forever.

    12 months to get extra 50 acres, add commercial space and change building height seems to be too much in the fast paced Mumbai. The delay is obviously due to money factor.
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  • Q.. Did IB power get enough subscription or was it planned for IB realty to hold 50% .. After Reliance Power collapse.. there are not many takers for power issues

    Originally Posted by cust_indiabulls_panvel
    IB real estate is inded a listed company and is sitting on a lot of funds.

    IB real restate also holds more than 50% stake in IB power, wich recently went for IPO.

    The problem has been that panvel project did receive a tremendous response - which led to IB real estate changing the plans. I agree that the last few months have been very painful.

    However now that the plans have been finalized, the approvals would be there by this year end or early next year.

    However , I would again repeat myself - from what i hear about the new plans, it seems this would be a world class project. I would encourage all forum members to try and access this new plan from the IB office.

    If the project really comes out as world class, I would not really mind the 4- 6 month delay. As I have always said, it remins to be seen.
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  • Originally Posted by Sharpj
    Q.. Did IB power get enough subscription or was it planned for IB realty to hold 50% .. After Reliance Power collapse.. there are not many takers for power issues

    It subscribed 22 times in october last year and was sold ar Rs 45. It currently trades at Rs 28.
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