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Indiabulls Greens by Indiabulls in Panvel, Mumbai

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Indiabulls Greens by Indiabulls in Panvel, Mumbai

Last updated: 5 days ago
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  • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

    get the agreemant done, get the bank approvals and start concrete construction - I would prefer these to happen first..

    (rise in rates without the above - not quite thrilling...) :-(

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    • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

      Originally posted by VishalPrabhakar View Post
      get the agreemant done, get the bank approvals and start concrete construction - I would prefer these to happen first..

      (rise in rates without the above - not quite thrilling...) :-(
      I agree. It is just paper value. Faster it can rise, evn faster can it fall.
      Agreement is the key. No builder would have made thei customers wait so long.
      Most builders sign the agreement in 10 minutes. Indiabulls has taken 12 months+.

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      • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

        At the expense of giving an impresion that I am defending IB, I would like to provide a slightly different perspective to the entire status. Let me be upfront that none of us know what the real reasons for the delay, but are trying to just analyse and see things:

        1. IB launches the product in September 2009 - it is a 25 acres township
        2. Over the period of next 3 months, IB realizes that there has been a tremendous response to the project.
        3. After a few months of launch, IB acquires new land adjoining to the project. The twonship size increases to 80 acres. we can give at least 3 more months for the entire aqusition process
        4. IB reworks on the entire plan and prepares a fresh plan for bigger project. probably 2 to 3 months
        5. It resubmits the plan to the authorities for approval.
        6. Menawhile, it the initial work on the project.


        Pros of the above approach: IB Greens would come out as a world class project.

        Cons: Delays. Irritated customers during this period.

        I am not sure how many forum members bought within 2 days of hte launch - just I had done it. My initial days were very frustrating - even my advance cheque was not banked for almost a month - when I followed, I was actually told that IB is still opening a bank account. I was asked to contaqct the main person in charge of IB Greens - when I call him, ( allthis happened in September 2009), he told me he will have to check facts as he has just joined a few DAYs before the launch of the project.

        Personnaly I have concluded that IB launched this project in a hurry. They launch the porject aascertain the demand and go back to drawing board.

        Other builders would not have chnaged the plans - they would have carried on with the initiail project without disturbing the initial plans and launched a "Phase II" .

        My only hope is that this delay would be compensated by something good. As I have menioned earlier, people who have seen the recent plan are very happy about the plan.

        As I always end, it remains to be seen

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        • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

          Originally posted by cust_indiabulls_panvel View Post
          At the expense of giving an impresion that I am defending IB, I would like to provide a slightly different perspective to the entire status. Let me be upfront that none of us know what the real reasons for the delay, but are trying to just analyse and see things:

          1. IB launches the product in September 2009 - it is a 25 acres township
          2. Over the period of next 3 months, IB realizes that there has been a tremendous response to the project.
          3. After a few months of launch, IB acquires new land adjoining to the project. The twonship size increases to 80 acres. we can give at least 3 more months for the entire aqusition process
          4. IB reworks on the entire plan and prepares a fresh plan for bigger project. probably 2 to 3 months
          5. It resubmits the plan to the authorities for approval.
          6. Menawhile, it the initial work on the project.


          Pros of the above approach: IB Greens would come out as a world class project.

          Cons: Delays. Irritated customers during this period.

          I am not sure how many forum members bought within 2 days of hte launch - just I had done it. My initial days were very frustrating - even my advance cheque was not banked for almost a month - when I followed, I was actually told that IB is still opening a bank account. I was asked to contaqct the main person in charge of IB Greens - when I call him, ( allthis happened in September 2009), he told me he will have to check facts as he has just joined a few DAYs before the launch of the project.

          Personnaly I have concluded that IB launched this project in a hurry. They launch the porject aascertain the demand and go back to drawing board.

          Other builders would not have chnaged the plans - they would have carried on with the initiail project without disturbing the initial plans and launched a "Phase II" .

          My only hope is that this delay would be compensated by something good. As I have menioned earlier, people who have seen the recent plan are very happy about the plan.

          As I always end, it remains to be seen
          Agree with you.

          Were the delays avoidable, I would still say yes. Projects can get building-wise approval. And the approvals can then be altered if the plans change. In no professional world would someone pay 20% and wait for 1 year for any written document.

          What's happened is what you cannot change. What IB will do over next 3 months is what you can influence. So don't let them think you are some NR I investor and you don't care as long as you get sales talk. Keep phoning, emailing and asking them about the progress. I have seen many such cases (some which got stuck for years) and hence I advise caution. The earlier they complete and hand over the keys to you, the better it is.
          Last edited by wadia; September 23 2010, 09:21 PM.

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          • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

            Inspite of being repetitive, I have spent 18 months since my payment of 20% advance to the builder and then having the agreement registered. This was with Rustomjee Urbania Thane, surely a builder of repute. Their township too is sizable and hence the first customers have to wait the longest.

            In case of IB they have been despite their size they have been around for only a while and hence there isn't much of a history to gauge them by. But just to let other customers know that the initial wait, especially in large projects surely can try your patience and its not an isolated case.

            Comment


            • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

              Originally posted by wadia View Post
              Agree with you.

              Were the delays avoidable, I would still say yes. Projects can get building-wise approval. And the approvals can then be altered if the plans change. In no professional world would someone pay 20% and wait for 1 year for any written document.

              What's happened is what you cannot change. What IB will do over next 3 months is what you can influence. So don't let them think you are some NR I investor and you don't care as long as you get sales talk. Keep phoning, emailing and asking them about the progress. I have seen many such cases (some which got stuck for years) and hence I advise caution. The earlier they complete and hand over the keys to you, the better it is.
              I agree with Wadia that we have to keep the pressure. The views expressed were not, in anyway, meant to put all of us in a comfort zone.
              All I wanted to say is that, at least in this case, we know the reasons for delay. Changing the building plans from 15 floors to 32 floors and aquiring addtional land are time consuming. But I agree with Wadia that these were completely avoidable from a delay perspective and a customer-centric organization would not have done this.

              The best way to describe our discussions is draw an analogy with the story of the "blind men and an elephant". We are all trying to put together our persepctive knowing fully well that none of have the complete picture. I hope we can pool in all our individual perspective to come up with the actual "BIG" picture. Information from IB would certainly help in putting together this picture.

              There is one question that I would like to ask our forum members - what is the realistic time for constructing a 32 floor building. Is it realistic to build so many 32 floor towers in 2 years time.- even with the new technologies.

              Comment


              • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

                Being a consultant to large scale construction projects albeit in the Oil and Gas Industry I can say it is very possible, its only a building afterall ... people build tanks carrying 94000KL oil with 2-3 buildings of 3 floors with stringent tests and environment sanctions in two years.But looking at current builders and their timelines seems improbable.

                My parents reside in Rasayani so i pass through the IndiaBulls Greens site every weekend and looking at the progress made it seems high improbable that they would complete within 2 years.

                Comment


                • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

                  Originally posted by cust_indiabulls_panvel View Post
                  I agree with Wadia that we have to keep the pressure. The views expressed were not, in anyway, meant to put all of us in a comfort zone.
                  All I wanted to say is that, at least in this case, we know the reasons for delay. Changing the building plans from 15 floors to 32 floors and aquiring addtional land are time consuming. But I agree with Wadia that these were completely avoidable from a delay perspective and a customer-centric organization would not have done this.

                  The best way to describe our discussions is draw an analogy with the story of the "blind men and an elephant". We are all trying to put together our persepctive knowing fully well that none of have the complete picture. I hope we can pool in all our individual perspective to come up with the actual "BIG" picture. Information from IB would certainly help in putting together this picture.

                  There is one question that I would like to ask our forum members - what is the realistic time for constructing a 32 floor building. Is it realistic to build so many 32 floor towers in 2 years time.- even with the new technologies.
                  Like your description about "Blind men and elephant". Lets ask Indiabulls to show us the elephant fast.

                  It generally takes 3 weeks to complete a floor. With the kind of budget Indiabulls has for this project, it cannot be faster. So 3*32= 96 weeks
                  6 months for plastering and external works. 6 months for internal works. And then atleast 3-4 months to get water, electricity and posession letter. Sp this means 3 years. In a township project you have delays associated with multiple building and common amenities, so say 6 months more. Theoretically do not expect to get the keys before before mid 2014, about 3.5/4 years from now.

                  Comment


                  • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

                    If the clearnce of this project is linked to airport clearance, October 18 is the next time date:

                    "Shaping up a final plan, which will involve saving mangroves along Gadhi river's U-shaped stretch, and avoid shifting of its westward arm close to the proposed northern airstrip, will be the primary mission of the team of 12 environmental experts from Delhi who will visit the airport site on October 18, say state officials. "

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                    • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

                      Wadia

                      I agree - 2014 is most optimistic date that we can look. Your assessment was perfect- delays will happen if you factor in the monsoons - for 2 months every year no work will happen.

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