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Astaire Gardens by BPTP in Sector 70A, Gurgaon

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Astaire Gardens by BPTP in Sector 70A, Gurgaon

Last updated: June 24 2019
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  • Re : Astaire Gardens by BPTP in Sector 70A, Gurgaon

    Hi BlessU,

    Appreciate your comments and insights. Also thank you for appreciating the analytics

    Agree, had this been a time linked subvention, the builder would have milked us for 5-6-7....yrs, like Unitech has done and will do for the 18 mths subventions it gave in the likes of South park.

    This subvention is however, possession linked! - a leverage based financial product for me, if i get the product on time, I get 3 years leverage on 15%; if the builder delays, I will certainly not be unhappy

    Rest I leave to individual judgement.

    Cheers

    Comment


    • Re : Astaire Gardens by BPTP in Sector 70A, Gurgaon

      Originally posted by Infralytics View Post
      Hi BlessU,

      Appreciate your comments and insights. Also thank you for appreciating the analytics

      Agree, had this been a time linked subvention, the builder would have milked us for 5-6-7....yrs, like Unitech has done and will do for the 18 mths subventions it gave in the likes of South park.

      This subvention is however, possession linked! - a leverage based financial product for me, if i get the product on time, I get 3 years leverage on 15%; if the builder delays, I will certainly not be unhappy

      Rest I leave to individual judgement.

      Cheers
      Hi
      Greetings

      That is what I am hinting at.. what if Possession not offered in 3 years?? Whom will the bank chase for interest/emi?? Does BPTP guarantee that if they wont deliver in 3 years they will pay your RENT atleast, as adjudicated by a court in Unitechs case recently??

      Isko bech ke thode paise aur milake, even if unauthorised area mein bhi, thoda isse chota builder floor lelo... will have your money in your hand and offering you and your family security and dignity and save you of horrors of dealing with an unethical builder..

      The day this builder delivers its first project completely, I will send a personal POSTCARD with congratulations to Mr Hooda and Mr TC Gupta, facilitating them for having nurtured such a shameless, cowboy and rogue builder.

      A plotted development is something which even a novice, good for nothing property developer or thekedar turned builder, can manage and deliver within 18 months. BPTP Parklands with 1000 acres of contiguous land in Faridabad, with no problem from local farmers and entire bureaucracy and administration hand and glove, is still undelivered in part of full even after 7 years..

      No club, no facilities, no community facilities, ineffective customer service, un concerned management, pathetic maintenance agency, building beyond approved FAR, made to live in in complete structures, no post delivery performance, accounts statements that never match, Problem with Allotment letter/BBA, Problem with loan and TPA, Guaranteed increased in Super Area going by past experience, Guaranteed harassment by continuous false assurances on delivery, guaranteed illegal and unethical charges loaded on your demand letters, no communication about development status by the builder are just of the few things you and buyers of existing projects are/will be facing.

      Irrespective of the format DP/CLP/Subvention etc etc

      Cheers

      Comment


      • Re : Astaire Gardens by BPTP in Sector 70A, Gurgaon

        I would like to believe it will pay the interest if it delays the possession as is mandated by the very possession linked subvention plan and the tripartite agreement between builder, buyer and bank.

        Unfortunately I do not know the builder so well as you do and am I not going to defend it if what you are saying is true. However, I do know that no builder is sane, be it Unitech, DLF... the list goes ON. But people still choose their homes with these builders and people have made money with them too. I have an acquaintance staying in BPTP Freedom Park life in Gurgaon and hes happy.

        Thanks for your advise but I will still retain this property till possession and while I am invested in this, in a matter of 3 years, the result will be out. I will subject my opinion to that.

        Thx

        Comment


        • Re : Astaire Gardens by BPTP in Sector 70A, Gurgaon

          Very well point highlighted by BlessU...
          After 3 years, will BPTP pay the interest/emi if there is no Possession ???

          Originally posted by BlessU View Post
          Hi
          Greetings

          That is what I am hinting at.. what if Possession not offered in 3 years?? Whom will the bank chase for interest/emi?? Does BPTP guarantee that if they wont deliver in 3 years they will pay your RENT atleast, as adjudicated by a court in Unitechs case recently??

          Isko bech ke thode paise aur milake, even if unauthorised area mein bhi, thoda isse chota builder floor lelo... will have your money in your hand and offering you and your family security and dignity and save you of horrors of dealing with an unethical builder..

          The day this builder delivers its first project completely, I will send a personal POSTCARD with congratulations to Mr Hooda and Mr TC Gupta, facilitating them for having nurtured such a shameless, cowboy and rogue builder.

          A plotted development is something which even a novice, good for nothing property developer or thekedar turned builder, can manage and deliver within 18 months. BPTP Parklands with 1000 acres of contiguous land in Faridabad, with no problem from local farmers and entire bureaucracy and administration hand and glove, is still undelivered in part of full even after 7 years..

          No club, no facilities, no community facilities, ineffective customer service, un concerned management, pathetic maintenance agency, building beyond approved FAR, made to live in in complete structures, no post delivery performance, accounts statements that never match, Problem with Allotment letter/BBA, Problem with loan and TPA, Guaranteed increased in Super Area going by past experience, Guaranteed harassment by continuous false assurances on delivery, guaranteed illegal and unethical charges loaded on your demand letters, no communication about development status by the builder are just of the few things you and buyers of existing projects are/will be facing.

          Irrespective of the format DP/CLP/Subvention etc etc

          Cheers

          Comment


          • Re : Astaire Gardens by BPTP in Sector 70A, Gurgaon

            Just finished reading the terms and condition written in application form of this project .. Do not even feel like looking at this project leave aside buying here.. They could have only written 'You are willing to be our slave and not challenge it ever under any circumstances" ..

            1. Possession expected in 3.5 years but penalty clause in case of delay applicable only if delay reason is attributable to builder .. !! < Basically any Litigation issue, Govt rules, DTCP approval delays will not be their problem >

            2. If you take semi finished floor, you will have to get it finished using their men and materials within 6 months of taking possession. If not done, they will do it for you and charge you for same.

            3. Escalation is surely expected, They have clearly mentioned the random formula for calculating same. They will ask for atleast 10%-20% more later on.

            4. They will have freedom to change layout, plans and even, relocate your property anywhere they want and you need sign the same !! Icing on cake: If your 'zabardasti se' relocated property faces a park/wide road, you will pay PLC also irrespective of fact whether you asked for it or not !

            5. Best One: They may decide to scrap your unit or project altogether at any point of time; you will only get you money back WITHOUT any interest.

            6. If you delay even one installment; you lose all rights including, penalty clause applicable to builder in case of delay in possession. Plus you pay 18% PA interest on delayed installment.

            7. Your club house will be run in any way they would like, doesn't matter if you paid for it. Buyer will not have any say in running and operation of same. Jo milega, Chup Chap use karne ka. .. < I will glad if they do make a club, as point no 4 above tells me they can scrap or add anything anytime. >

            Can go on; but am too sick of this builder and project already. Seems they learnt from Faridabad experience and will not leave even an inch space for buyers from now on.

            Someone rightly said - Blood Pressure Through Property. Itna bhayanak agreement toh DLF ka nahi hota.

            IMHO: Absolute NO to this project !!

            Comment


            • Re : Astaire Gardens by BPTP in Sector 70A, Gurgaon

              hi mango Man,
              You are correct when you say that the BPTP agreement is one-sided and gives sweeping powers to the builder.

              However I am not sure if you have read the Builder-Buyer agreements from other developers - DLF, Unitech, etc.
              I read the plot buyers agreement for DLF Almaeda and it also is equally one sided - All clauses highlighted by you are also there in agreements by other builders. Builder can abandon the colony, Builder can change the layout of the colony, Builder can manipulate what date of delivery he wants to stick to, Builder's delay is charged at 6% interest, buyer delay is charged at 18% interest etc.


              You may peruse the DLF plot buyers form and a cursory glance will tell you that nearly all clause you have highlighted exist in DLF agreement as well. (NOTE - This is just application form - The full buyers agreement is signed later - And in case of disrepency between the form and buyers agreement- The buyers agreement prevails).
              DLF Almada Plot Buyer Form

              I am not condoning the one sided BPTP agreement - But the issue is that till Real Estate Regulatory bill is not enacted, such one sided agreements will remain a reality that the customer has to deal with.

              MAV
              A small request to all IREFians - Please share information, not necessarily opinions.

              Comment


              • Re : Astaire Gardens by BPTP in Sector 70A, Gurgaon

                Hi Sachin,
                A group on Facebook, and IREF already exist - Feel free to join

                IREF Astaire Group
                Astaire FB Group

                Originally posted by smahipal View Post
                Dear all

                Can we form a group of People who all have invested in Pedestal , this way it will help us to transfer the new info to each other.
                As now we have already invested ,so we will have to stay strong . we know that BPTP in not one of good builder but still we have invested in that so i assume we have taken most of risks into consideration.

                Let me know if buyers are interested to join any google group then i will form it and post the info here

                Thanks
                Sachin
                A small request to all IREFians - Please share information, not necessarily opinions.

                Comment


                • Re : Astaire Gardens by BPTP in Sector 70A, Gurgaon

                  Originally posted by maverick_guy View Post
                  hi mango Man,
                  You are correct when you say that the BPTP agreement is one-sided and gives sweeping powers to the builder.

                  However I am not sure if you have read the Builder-Buyer agreements from other developers - DLF, Unitech, etc.
                  I read the plot buyers agreement for DLF Almaeda and it also is equally one sided - All clauses highlighted by you are also there in agreements by other builders. Builder can abandon the colony, Builder can change the layout of the colony, Builder can manipulate what date of delivery he wants to stick to, Builder's delay is charged at 6% interest, buyer delay is charged at 18% interest etc.


                  You may peruse the DLF plot buyers form and a cursory glance will tell you that nearly all clause you have highlighted exist in DLF agreement as well. (NOTE - This is just application form - The full buyers agreement is signed later - And in case of disrepency between the form and buyers agreement- The buyers agreement prevails).
                  DLF Almada Plot Buyer Form

                  I am not condoning the one sided BPTP agreement - But the issue is that till Real Estate Regulatory bill is not enacted, such one sided agreements will remain a reality that the customer has to deal with.

                  MAV
                  Hi
                  Greetings

                  A few negative clauses have already been declared as unfair, unilateral, arbitrary, exploitative in DLF BBA by CCI and they have been ordered to cease and desist..
                  Key imports of the order are applicable both on DLF and DTCP/HUDA as parties to the case are
                  - cannot change layout without seeking consent form buyers
                  - cannot escalate costs
                  - cannot increase super area without increase in carpet area beyond 2%
                  - cannot charge for parking within haryana building bye laws
                  - installment and delivery delay penalty to be equated

                  Finally commercial agreements cannot be drafted outside law and all buyers should contribute on day one as in Gujarat, Maharashtra etc from day one and get abusive clauses rooted out.

                  For those invested, a more suitable acronym to BPTP, other than Blood Pressure Through Property would be Bure Phase Tere Pass.

                  Escalation clause alone is expected to hit by about 20% (conservatively given the current situation http://www.indianrealestateforum.com/963726-post44.html).
                  Add to this likely increase in EMI by about 10%.
                  Further, increase in Super Area without increase in Carpet area.. by BPTP standards 25%, by Industry standards 10%. Please calculate accordingly assuming that project is REASONABLY DELAYED AND DELIVERED in 5 + years. (these are conservative estimates on lower side)

                  Cheers

                  Comment


                  • Re : Astaire Gardens by BPTP in Sector 70A, Gurgaon

                    Below questions are for Buyers of Pedestal ,if they can help me

                    1. If Anybody has bought Semi furnished floor , can you please confirm if BPTP will provide internal walls( all the walls of room,Kitchen and bathroom) and plaster on them
                    As in Application form it says "SEMI-FINISHED STRUCTURE WITH INTERNAL BRICK WORK & PLASTER" ,also specification says that Semi-Furnished floors will be delivered with Internal walls and Plaster

                    but yesterday i saw their brochure which says "Internal Walls and Plaster with additional cost to customer"
                    i am trying to get this clarify but not getting clear answers

                    If any body can help here

                    Thanks
                    Sachin

                    Comment


                    • Re : Astaire Gardens by BPTP in Sector 70A, Gurgaon

                      Its very good project . Can you provide whats your budgets.....

                      Comment

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