Hi

Just wanted 2 know whether BPTP Park Prime Sector 66 Gurgaon is a good from end user's perspective? In this forum anybody has bought apartment in the BPTP Park Prime as end user?

Thanks
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  • Originally Posted by rajggn
    No .. It is not that simple. The launch price was 3250 Per Sq Ft.

    Price List During Launch Phase


      Basic Sale Price(BSP) 3250/-
      Special Discount 250/-
      Net Price - 3250-250=3000

      Then some customer also get discount from the Dealers etc so the BSP was less than 3000/-

      Now if you add Escalation cost then your BSP will be around 3250/ the Original BSP.

      Increase in super area should be charged at bsp agreed in BBA . this is industry practice . you must discuss this with builder.

      Increase in super area should be charged at bsp agreed in BBA . this is industry practice . you must discuss this with builder.

      Increase in super area should be charged at bsp agreed in BBA . this is industry practice . you must discuss this with builder.

      Increase in super area should be charged at bsp agreed in BBA . this is industry practice . you must discuss this with builder.

      Increase in super area should be charged at bsp agreed in BBA . this is industry practice . you must discuss this with builder.

      Increase in super area should be charged at bsp agreed in BBA . this is industry practice . you must discuss this with builder.

      Increase in super area should be charged at bsp agreed in BBA . this is industry practice . you must discuss this with builder.

      Increase in super area should be charged at bsp agreed in BBA . this is industry practice . you must discuss this with builder.
    CommentQuote
  • Hello All,

    I also have flat in BPTP Park Prime, Tower -D, can anyone let me know is there any forum which taking up the matter with BPTP for cost escalation ?
    CommentQuote
  • Hello All,

    Any update? Nobody is responding.
    CommentQuote
  • They are replicating what they have done in Faridabad.


    BPTP PARK ELITE FLOORS FARIDABAD - FRAUD BY BPTP
    CommentQuote
  • Hi

    Any update on cost escalation issue? I think some owners have met with BPTP? Can you please update us the outcome of the meeting?

    Thanks
    CommentQuote
  • Hi ,

    Can anyone provide us updated status.I also joined BPTP park prime owners group on facebook but found no update.Suggest that if any common mail id or contact number be shared so that we all can get in touch with each other.


    Further note that on escalation we have requested the BPTP to provide us the detailed working and BPTP has given us the below details as per annexure A and also said that as per clause 11.15 of the Flat Buyer’s Agreement, the Company can recover this escalation amount
    ANNEXURE A
    Update on your home – Park Prime

    At the outset we would like to inform you that Park Prime is being awarded “Silver Rating” by The Indian Green Building Council (IBGC), making Park Prime as one of the 1st few housing complex with the said rating. This shall translate into a lower environmental impact /carbon footprint.

    Over the last few years the Indian economy has witnessed extremely high inflation. Cost of construction comprises of the cost of raw materials including but not limited to cement, steel, bricks, RMC, aggregate, sand, finishing material, labour, etc. This inflation has led to significant cost escalations in development cost of our project “Park Prime”. The consequent total impact on the said project compared to the initial budgeted cost is ~ Rs. 874 per sq. ft. till April 2013.

    In terms of clause 11.15 of the Flat Buyer’s Agreement, the Company can recover this escalation amount the extract of the clause is reproduced below for the ease of reference:

    11.15 That the basic sale price is escalation free but it is subject to the escalation of price of steel, cement and other raw materials beyond 10% increase as per index price as on 01.09.2009. The revision by the Company shall be made at its sole discretion and the Purchaser(s) agrees to the same.

    However, to ensure complete transparency and objectivity the Company has decided to charge escalation as per the published CPWD Construction Cost Index (weblink: cpwd.gov.in*) an accepted industry standard. Further in the spirit of fairness the Company has decided to limit the cost escalation to the committed date of offer of possession** of the units, although we were entitled to recover the entire cost escalation impact on the said project. Escalation on account of inflation beyond the said period, has been absorbed by the Company.

    Escalation Rate Mechanism
    Per Sq. ft. Escalation Rate (D) = Cost of construction on start date (A) X % Raw Material Component (B) X % increase in CPWD index (without labour) (C)

    % increase in CPWD index (C) =

    Average of CPWD indices (w/o labour) for all ½ yearly indices till committed date of offer of possession excluding CPWD Index on start date
    (Minus)
    CPWD Index (w/o labour) on start date

    X 100
    _________________________________________________________________________

    CPWD Index (w/o labour) on start date





    Detailed Workings:
    Building Plan sanction Date is 08.Dec.2008
    Applicable CPWD Index:
    CPWD Index Period
    01-Oct-07 (a)
    01-Apr-09 (b)
    01-Oct-09 (c)
    01-Apr-10 (d)
    01-Oct-10 (e)
    01-Apr-11 (f)
    01-Oct-11 (g)
    01-Apr-12 (h)
    Total Index
    100.00
    112.51
    126.30
    136.22
    138.93
    149.45
    150.68
    161.16
    Raw material Index (W/o labour)
    75.00
    84.70
    91.43
    92.80
    93.60
    101.67
    101.16
    111.64



    CPWD Index on start date i.e. 01.Apr.09: 112.51
    CPWD Index (w/o labour) on start date i.e. 01.Apr.09: 84.70
    Average of CPWD raw material index (w/o labour) for all applicable subsequent half yearly index i.e. average of index from 01-Oct-09 till 01-Apr-12: 98.72 i.e. ((c + d + e + f + g + h ) / 6)

      Cost of construction on start date (A): Rs 2,302.25 per Sq. ft.
      % Raw Material Component (B): 75.28%


        % increase in CPWD index (without labour) (C): 16.55% i.e.


        14.02 (98.72 – 84.70)
        X 100
        _____________________________________________________________________
        84.70



        Per Sq. ft. Escalation Rate (D) =

        A
        B
        C
        D

        Cost of construction on start date i.e. 01.Apr.2009
        % of raw material Component
        % increase in CPWD index
        Per Sq. ft. Escalation rate (in Rs.)
        2,302.25
        75.28%
        16.55%
        286.83



        Thanks
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    CommentQuote
  • Do not find any update here or even Facebook group. What is the status? People are paying Escalation Cost or not?
    CommentQuote
  • Originally Posted by amitsurjya
    You are right...there is nothing like this group there.Also i think that any action that we are contemplating against BPTP should be taken asap....as once people start paying up , they will get a precedent and refuse to do anything about this.


    How can we get collectively and stand against the builder for charging exorbitantly to us.
    Also, from FB I learnt that there is a watsapp group, how can i become the part of the group.
    CommentQuote
  • Originally Posted by dhir20
    Hi ,

    Can anyone provide us updated status.I also joined BPTP park prime owners group on facebook but found no update.Suggest that if any common mail id or contact number be shared so that we all can get in touch with each other.


    Further note that on escalation we have requested the BPTP to provide us the detailed working and BPTP has given us the below details as per annexure A and also said that as per clause 11.15 of the Flat Buyer’s Agreement, the Company can recover this escalation amount

    ANNEXURE A

    Update on your home – Park Prime




    At the outset we would like to inform you that Park Prime is being awarded “Silver Rating” by The Indian Green Building Council (IBGC), making Park Prime as one of the 1st few housing complex with the said rating. This shall translate into a lower environmental impact /carbon footprint.

    Over the last few years the Indian economy has witnessed extremely high inflation. Cost of construction comprises of the cost of raw materials including but not limited to cement, steel, bricks, RMC, aggregate, sand, finishing material, labour, etc. This inflation has led to significant cost escalations in development cost of our project “Park Prime”. The consequent total impact on the said project compared to the initial budgeted cost is ~ Rs. 874 per sq. ft. till April 2013.

    In terms of clause 11.15 of the Flat Buyer’s Agreement, the Company can recover this escalation amount the extract of the clause is reproduced below for the ease of reference:

    11.15 That the basic sale price is escalation free but it is subject to the escalation of price of steel, cement and other raw materials beyond 10% increase as per index price as on 01.09.2009. The revision by the Company shall be made at its sole discretion and the Purchaser(s) agrees to the same.

    However, to ensure complete transparency and objectivity the Company has decided to charge escalation as per the published CPWD Construction Cost Index (weblink: cpwd.gov.in*) an accepted industry standard. Further in the spirit of fairness the Company has decided to limit the cost escalation to the committed date of offer of possession** of the units, although we were entitled to recover the entire cost escalation impact on the said project. Escalation on account of inflation beyond the said period, has been absorbed by the Company.

    Escalation Rate Mechanism
    Per Sq. ft. Escalation Rate (D) = Cost of construction on start date (A) X % Raw Material Component (B) X % increase in CPWD index (without labour) (C)

    % increase in CPWD index (C) =


    Average of CPWD indices (w/o labour) for all ½ yearly indices till committed date of offer of possession excluding CPWD Index on start date

    (Minus)
    CPWD Index (w/o labour) on start date




    X 100

    _________________________________________________________________________


    CPWD Index (w/o labour) on start date







    Detailed Workings:
    Building Plan sanction Date is 08.Dec.2008
    Applicable CPWD Index:

    CPWD Index Period

    01-Oct-07 (a)
    01-Apr-09 (b)
    01-Oct-09 (c)
    01-Apr-10 (d)
    01-Oct-10 (e)
    01-Apr-11 (f)
    01-Oct-11 (g)
    01-Apr-12 (h)
    Total Index
    100.00
    112.51
    126.30
    136.22
    138.93
    149.45
    150.68
    161.16
    Raw material Index (W/o labour)
    75.00
    84.70
    91.43
    92.80
    93.60
    101.67
    101.16
    111.64







    CPWD Index on start date i.e. 01.Apr.09: 112.51
    CPWD Index (w/o labour) on start date i.e. 01.Apr.09: 84.70


    Average of CPWD raw material index (w/o labour) for all applicable subsequent half yearly index i.e. average of index from 01-Oct-09 till 01-Apr-12: 98.72 i.e. ((c + d + e + f + g + h ) / 6)

      Cost of construction on start date (A): Rs 2,302.25 per Sq. ft.
      % Raw Material Component (B): 75.28%


        % increase in CPWD index (without labour) (C): 16.55% i.e.


        14.02 (98.72 – 84.70)

        X 100

        _____________________________________________________________________

        84.70






        Per Sq. ft. Escalation Rate (D) =


        A

        B
        C
        D





        Cost of construction on start date i.e. 01.Apr.2009
        % of raw material Component
        % increase in CPWD index
        Per Sq. ft. Escalation rate (in Rs.)

        2,302.25

        75.28%
        16.55%
        286.83







        Thanks

        I have also sent the request on FB to join the group, but no response.
        How can I become teh member of watsapp group.

        I have also sent the request on FB to join the group, but no response.
        How can I become teh member of watsapp group.

        I have also sent the request on FB to join the group, but no response.
        How can I become teh member of watsapp group.

        I have also sent the request on FB to join the group, but no response.
        How can I become teh member of watsapp group.

        I have also sent the request on FB to join the group, but no response.
        How can I become teh member of watsapp group.

        I have also sent the request on FB to join the group, but no response.
        How can I become teh member of watsapp group.

        I have also sent the request on FB to join the group, but no response.
        How can I become teh member of watsapp group.

        I have also sent the request on FB to join the group, but no response.
        How can I become teh member of watsapp group.

        I have also sent the request on FB to join the group, but no response.
        How can I become teh member of watsapp group.

        I have also sent the request on FB to join the group, but no response.
        How can I become teh member of watsapp group.

        I have also sent the request on FB to join the group, but no response.
        How can I become teh member of watsapp group.

        I have also sent the request on FB to join the group, but no response.
        How can I become teh member of watsapp group.

        I have also sent the request on FB to join the group, but no response.
        How can I become teh member of watsapp group.

        I have also sent the request on FB to join the group, but no response.
        How can I become teh member of watsapp group.

        I have also sent the request on FB to join the group, but no response.
        How can I become teh member of watsapp group.

        I have also sent the request on FB to join the group, but no response.
        How can I become teh member of watsapp group.

        I have also sent the request on FB to join the group, but no response.
        How can I become teh member of watsapp group.
    CommentQuote
  • I would also like to join the group to take up this issue with BPTP.
    CommentQuote
  • Dear Mr. Saini

    Kindly inform how to get in touch with you.

    Regards
    CommentQuote
  • Meeting of bptp park prime owners site on 9th feb 10am

    ALL THE OWNERS ARE MEETING AT THE SITE ON 9TH FEB 2014 AT THE SITE AT 10AM. PLEASE SPREAD THE WORD AND MAKE IT TO THE MEETING.

    Endless nightmare haunts flat owners - The Hindu
    CommentQuote
  • Originally Posted by Sushant Saini
    ALL THE OWNERS ARE MEETING AT THE SITE ON 9TH FEB 2014 AT THE SITE AT 10AM. PLEASE SPREAD THE WORD AND MAKE IT TO THE MEETING.

    Endless nightmare haunts flat owners - The Hindu

    Dear Sushant, I also have a flat in BPTP park prime and have received the demand letter from BPTP. Since I am not in Delhi the moment, I would like to join your group and the association to discuss the way forward.

    Appreciate all support and guidance.

    Tarun
    CommentQuote
  • As per mail from BPTP,

    "It gives us immense pleasure to inform you that we have received Occupancy certificate for the Project “Park Prime”. We shall commence execution of Sales Deed from Mar 1st 2014."

    Thanks,
    Raj
    CommentQuote
  • Any updates from this meeting???

    Originally Posted by tarun26
    Dear Sushant, I also have a flat in BPTP park prime and have received the demand letter from BPTP. Since I am not in Delhi the moment, I would like to join your group and the association to discuss the way forward.

    Appreciate all support and guidance.

    Tarun
    CommentQuote