Re : Raheja Sampada, Raheja Builder, Sector 92, Gurgaon

[MANOJa]

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  string(1031) "[QUOTE=erabhiwadi;n2629896]Dear Manoja, I was scrolling your comments, you have suggested Sare crescent park in past to forum members.

Now days, you must know the condition of same projects. its pathetic.

being super Moderator, we always look for good advise on projects not to misguide.
[/QUOTE]

The advise to have a look at this Project was given in May 2011. This is November 2018. So, many things have changed since then in RE . Many Big Builders have or r are going bankrupt and many of esteemed members have given advise to buy Projects of many such Builders . Please note that nobody can predict the future. The advise to have a look at this Project was based on favorable conditions then .

The advise is there on conditions based at that time. It is for you to weigh the pros and cons and either take or leave the advise .

Please don't accuse me or anybody of misguiding, simply on a post saying to have a look at a Project in which construction was progressing well about 7 years back & rates very pretty attractive ."
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Dear Manoja, I was scrolling your comments, you have suggested Sare crescent park in past to forum members.

Now days, you must know the condition of same projects. its pathetic.

being super Moderator, we always look for good advise on projects not to misguide.

The advise to have a look at this Project was given in May 2011. This is November 2018. So, many things have changed since then in RE . Many Big Builders have or r are going bankrupt and many of esteemed members have given advise to buy Projects of many such Builders . Please note that nobody can predict the future. The advise to have a look at this Project was based on favorable conditions then .

The advise is there on conditions based at that time. It is for you to weigh the pros and cons and either take or leave the advise .

Please don't accuse me or anybody of misguiding, simply on a post saying to have a look at a Project in which construction was progressing well about 7 years back & rates very pretty attractive .

[erabhiwadi]

So, I may not think again on your advise on any projects across the forum because after few years it may lead trouble.

Thanks

[MANOJa]

Yes, don't take any advise blindly . No body is GOD & nobody can predict the future . A project which is looking good, progressing well and has decent price today would be an viable investment option, as of today, but if that Builder goes bust say after 10 years or there are some issues in the Project itself after some years, then that Project will no longer be an target for investing. I AM REPEATING, NOBODY CAN PREDICT THE FUTURE and you are solely responsible for your money and your actions . A Project which looked viable 7 years ago & that advise/line of thought may be redundant in the present situation. This has happened to 1000's of Projects across India .

So, as i said, it is your money, judge & weigh very carefully any advise given here . Don't follow blindly, use your own brain too . Look for pros and cons by visiting the Project and take a decision only after visiting the Project site & don't be a potato couch and take decisions on posts here . Also, any advise on any Project in the forum doesn't come with unlimited warranty.

I have said the above over & over again in many threads, across so many years .

[yogeshraja]

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NCLT initiates insolvency proceedings against Raheja Developers

The court has appointed Jitesh Gupta as the interim resolution professional (IRP) for the case.

NEW DELHI: The National Company Law Tribunal (NCLT) has initiated corporate insolvency resolution process against Raheja Developers under Section 7 of the Insolvency and Bankruptcy Code 2016.

The court has appointed Jitesh Gupta as the interim resolution professional (IRP) for the case.

The buyer had booked an apartment in Raheja's Sampada in August 2012 for Rs 86.62 lakh. The project was to be delivered in August 2015 but the builder failed to do so. The buyer further pleaded that the builder was to apply for water connections within 15 days and till then portable water through tankers was required to be supplied to the residents, which has not been the case.

Raheja in its plea said that there is no default on part of the corporate debtor. The delay was on part of the authorities as till date water and sewer line has not been provided.

NCLT however admitted buyer's petition and ordered the builder that the supply of essential goods like supply of water, electricity to the buyer should not be terminated or suspended.


The buyer has been ordered to deposit Rs 1 lakh to the IRP to meet the expenses to perform his function within three days of the order.

The ex-management has been directed to provide all documents in their possession and furnish every information within a period of one week from the admission of the petition to the IRP.

https://realty.economictimes.indiati...mpression=true

Raheja Developers to face insolvency proceedings

MUMBAI: Delhi-based builder Raheja Developers is facing insolvency proceedings as the National Company Law Appellate Tribunal (NCLAT) has directed the adjudicating authority to admit the matter under Section 9 of Insolvency and Bankruptcy Code, 2016.

The appellate tribunal has set aside an earlier order in a plea filed by one of the operational creditors, Ahluwalia Contracts (India). The adjudicating authority, the National Company Law Tribunal, New Delhi, had earlier rejected Ahluwalia Contracts’ application on the grounds that the claim fell within the ambit of “disputed claim”, and arbitration proceedings were initiated. The matter relates to an outstanding payment of ?6.51 crore.

However, the appellate tribunal has ruled that if the dispute was not raised prior to the issuance of the demand notice, existence of a disputed claim cannot be a ground to reject an application under Section 9 of the IBC. Ahluwalia Contracts had moved the NCLT after the developer failed to pay despite several demand notices for its outstanding dues related to work executed by the company.

Raheja had countered this with its claim that the matter related to the work and payment was under dispute and that arbitration proceedings regarding this were already initiated. “It’s a landmark judgement which will aid similarly placed creditors with much better clarity in cases where debtor has only a dispute with the quantum of claim and not with the existence of a claim,” said Shashank Garg, an advocate for Ahluwalia Contracts in the dispute.

“We have huge claims against Ahluwalia due to delay and poor construction/service on their part in the project that outweighs their claim. We are already in arbitration for the same,” said a spokesperson for Raheja Developers in an email response to ET’s query...

https://realty.economictimes.indiati...dings/70408035