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  • Great share, tinesha :bab (6):.
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  • You name any under-construction project in Gurgaon and it is there in the list...
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  • Parsavnath, MGF, Bestech, Clarion- Not delivered for 6 years

    Hi
    Greetings

    Its a shame and would certainly put 100 marks in THE GREAT PUMPKIN RUN for such long delays. This would reflect against the CEOs name in the sheet titled HOMES FROM HELL

    https://spreadsheets.google.com/ccc?key=0Ahk_8tfSUql8dDloWnl4bXFvSjJ6TTB0Uk8taFp2bXc&hl=en&authkey=CKjfg6cD#gid=2

    I just try to imagine myself as an enduser/investor in any of these projects and feel a shiver down the spine..

    1] 3.3 lacs extra to be paid to bank for every 10 lac of loan taken due to increase in 1% rate of interest. Check calcultor in the above link
    2] Rent payable/ rent arbitrage opportunity lost due to delays in projects

    high time govt steps in and puts a lead on these rogue builders. High further project approvals should be stopped and strongly recommend all allotees to be reimbursed for financial, mental, psycological agony.
    I am sure not only the end users or investors even brokers/agents would be against such perilous situation.
    I am amazed to check the names delaying projects even beyond 6 YEARS
    CLARION
    PARSAVNATH
    MGF
    BESTECH

    The amount of money and economy involved in real estate today probably surpases the stock market and involves not only investors, builders,companies, endusers, banks, financial institutions. It has more or less become a norm to deliver AFTER 5 years which puts the investors to such agonising experiences.
    Govt should ban and public money collection by such erring builders and impose stiff penalties and ask them to compensate the common man for delays for which he cannot be held responsible at all..

    Cheers
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  • Must have put Awesome effort in compiling this! Thanks!
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  • Projects available on Dway

    Originally Posted by nishant2hit
    Must have put Awesome effort in compiling this! Thanks!


    Hi
    Greetings

    This is an open link complied out of information available on the websites and put it at one place for self and general use of people who are invested or want to invest. It can be edited by anybody and encourage one and all to update any information that can help taking investment decisions.


    https://spreadsheets.google.com/ccc?key=0Ahk_8tfSUql8dDloWnl4bXFvSjJ6TTB0Uk8taFp2bXc&hl=en&authkey=CKjfg6cD#gid=12
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  • Project pending from 6 years - Bestech Park View Spa
    Pending from 5 years - DLF Magnolias
    Pending from 4 years - DLF Park Place and Belaire
    The above much delayed projects are commanding highest premium in their category.
    Bhai, itna delay hone ke baad bhi log zyada paise dekar kharidna chahte hain, to builder ko dosh kyun....
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  • High premiums could have been higher if constructed

    Originally Posted by dsinghca
    Project pending from 6 years - Bestech Park View Spa
    Pending from 5 years - DLF Magnolias
    Pending from 4 years - DLF Park Place and Belaire
    The above much delayed projects are commanding highest premium in their category.
    Bhai, itna delay hone ke baad bhi log zyada paise dekar kharidna chahte hain, to builder ko dosh kyun....


    Hi
    Greetings


    It breaks confidence to find the torch bearers- The Parsavnath Group which is at the helm of the Real Estate Developers Association,
    has projects languishing as shown in the list. Many end user/investors who invest in these projects are unaware that NOT A SINGLE LINE IN THE BBA( Builder Buyer Agreement) CONFIRMS THAT THE INVESTOR WOULD BE SECURE/DELIVERED.

    Their is no govt regulator/watchdog for this huge industry, probably this industry has a turnover bigger than the stock market. This industry involves investors, banks, lending institutions, suppliers, govt departments, administration but NO CONTROL.. NO COMMITMENT. This has potential of creating a major scam/downturn as seen by western economies and gulf..

    Despite repeated complaints to the police, administration, TCP, EOW, Ministry of Urban Development about serious frauds committed by some builders, they continue to get yet new approvals from the govt to fleece new customers.

    I dont mind your logic if one is only interested in ROI but does not match the scope or objectives of most endusers/investors alike. However to answer your question "builders ko dosh kyun"..
    Despite being aware of the problems, investor/end users behaviour can appropriately be said as " bad becomes good once worse happens" or simply invest in a bad project and wait for others to invest in a worse projects. Irony is, the RE market has been galloping and any-and-every project has given appreciation, which camouflages the lacunae of NON DELIVERY and WRONG COMMITMENT by proponents in this industry. Check "Homes from Hell" how various methods are deployed by cheating builders
    https://spreadsheets.google.com/ccc?key=0Ahk_8tfSUql8dDloWnl4bXFvSjJ6TTB0Uk8taFp2bXc&hl=en&authkey=CKjfg6cD#gid=2
    God forbid if somebodies hard earned money invested in a project is sold to another builder and the investor/end user is mockingly offered 9% interest with principal. On the other hand, for any delays, subscribers are being charged EVEN 24% COMPOUNDED QUATERLY!!!!
    But this cannot continue for long. Respectable builders can honestly make money by delivering on time.. Those buildings will surely command EVEN higher premium is guaranteed.. Unless unconstructed building start commanding higher premiums:D
    High time Real Estate Regulation Act bill is enacted upon with improvisions to the detriment of unethical and debilitatory business practices.

    All who are well wishers for RE industry/end-users/investors/economy are urged hereby to this link and sign on this petition Support the Petition for Real Estate Regulatory Body « Petition for Real Estate Regulation Bill


    Cheers
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  • BlessU, appreciate yr. above effort . Great going man :bab (6):.
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  • Real Estate Regulatory Bill petitions

    Originally Posted by MANOJa
    BlessU, appreciate yr. above effort . Great going man :bab (6):.


    S
    Hi

    Greetings

    Thanks for the appreciation. I guess if IREF can start such a parallel petition which can pop up requesting confirmation of support for every member loging in. This would add more focus and strength to the REAL ESTATE REGULATORY BILL which is proposed but languishing since 2009.

    I want one improvision in the bill.. all dishonest, corrupt, spineless builders/directors be declared "persona non grata" and stripped of any type of commercial activity as builder/directors in any business. They should also be penalised for such activities and made to compensate for the harrassment/humilitation and mental/psychological and monetary loss to investors/endusers.
    ULTIMATE RECIPE TO CHECK FRAUD: All banks/financial institutions /Stock Markets/FDI should be warned against strict fines/penalties etc if they give loan/fund such builders or companies having such people even in their board..
    This would set a new ethical code of conduct for the RE:)

    Cheers!!!
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  • I guess the odds are very good that some of the builders on this list will just run away without delivering anything?
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  • Run Away.. I think vaporise in thin air

    Originally Posted by ThePunjabi
    I guess the odds are very good that some of the builders on this list will just run away without delivering anything?

    Hi
    Greetings

    I am delighted I did not get silence after my message but I respect you at least sharing something with me.:)
    My judgement is that just because administrations is lax... these guy have the wherewithal and propensity to be obnoxiously ridiculous. I guarantee if such a code, as mentioned in my previous message, comes to existence these guys have the potential and will deliver and will not run away and break any covenant. I also guarantee that they will have healthier balance sheets..Housing has not even seen the "H" as far as amenities, style, user friendliness and comfort are concerned in India. What we see in gulf and western economies are still a big gap that hold value but needs to be encashed. Wrong philosophy what these builders are trying to encash is take advantage of legal loopholes...

    Just because you are a Punjabi I have taken the liberty of putting across a bit aggressive verbiose. Please excuse me if you can..
    Cheers
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  • Hey
    When I said builder ko dosh kyun..., I meant builders ko hi dosh kyun. I never justify delay caused by builder. I have two underconstruction flats, one is in its 4th year and other is in 5th so I can feel the pinch.
    I couldn't agree more on the point that real estate industry must have a regulator, but we know that the government is simply not interested.
    Government has clearly said that they have people like Sharad Pawar who are official corrupts. Unofficial will be jailed and actually they are, check Tihar's population.
    So the question here is intention and you can't do any Anshan or fast for Real Estate Bill else there will be a CBI inquiry to check on your assets and you'll be jailed for a un-supported conveyance voucher of Rs 20 which you claimed in 1992.
    For a short term solution, it is always better to join hands and buy in bulk so that you can manage one or two changes in BBA and also get a good bargain. Else builders will continue to charge you 24% for delayed installment and may pay you Rs 5 per sq ft per month for delayed possession.
    This is the time for such buying, builders sales are drying up. They will offer good bargain.
    Last but not the least, I found your posts to be very informative and thought provoking, keep it up.

    Originally Posted by BlessU
    Hi
    Greetings


    It breaks confidence to find the torch bearers- The Parsavnath Group which is at the helm of the Real Estate Developers Association,
    has projects languishing as shown in the list. Many end user/investors who invest in these projects are unaware that NOT A SINGLE LINE IN THE BBA( Builder Buyer Agreement) CONFIRMS THAT THE INVESTOR WOULD BE SECURE/DELIVERED.

    Their is no govt regulator/watchdog for this huge industry, probably this industry has a turnover bigger than the stock market. This industry involves investors, banks, lending institutions, suppliers, govt departments, administration but NO CONTROL.. NO COMMITMENT. This has potential of creating a major scam/downturn as seen by western economies and gulf..

    Despite repeated complaints to the police, administration, TCP, EOW, Ministry of Urban Development about serious frauds committed by some builders, they continue to get yet new approvals from the govt to fleece new customers.

    I dont mind your logic if one is only interested in ROI but does not match the scope or objectives of most endusers/investors alike. However to answer your question "builders ko dosh kyun"..
    Despite being aware of the problems, investor/end users behaviour can appropriately be said as " bad becomes good once worse happens" or simply invest in a bad project and wait for others to invest in a worse projects. Irony is, the RE market has been galloping and any-and-every project has given appreciation, which camouflages the lacunae of NON DELIVERY and WRONG COMMITMENT by proponents in this industry. Check "Homes from Hell" how various methods are deployed by cheating builders
    https://spreadsheets.google.com/ccc?key=0Ahk_8tfSUql8dDloWnl4bXFvSjJ6TTB0Uk8taFp2bXc&hl=en&authkey=CKjfg6cD#gid=2
    God forbid if somebodies hard earned money invested in a project is sold to another builder and the investor/end user is mockingly offered 9% interest with principal. On the other hand, for any delays, subscribers are being charged EVEN 24% COMPOUNDED QUATERLY!!!!
    But this cannot continue for long. Respectable builders can honestly make money by delivering on time.. Those buildings will surely command EVEN higher premium is guaranteed.. Unless unconstructed building start commanding higher premiums:D
    High time Real Estate Regulation Act bill is enacted upon with improvisions to the detriment of unethical and debilitatory business practices.

    All who are well wishers for RE industry/end-users/investors/economy are urged hereby to this link and sign on this petition Support the Petition for Real Estate Regulatory Body « Petition for Real Estate Regulation Bill


    Cheers
    CommentQuote
  • Real Estate Regulator bill

    Originally Posted by dsinghca
    Hey
    When I said builder ko dosh kyun..., I meant builders ko hi dosh kyun. I never justify delay caused by builder. I have two underconstruction flats, one is in its 4th year and other is in 5th so I can feel the pinch.
    I couldn't agree more on the point that real estate industry must have a regulator, but we know that the government is simply not interested.
    Government has clearly said that they have people like Sharad Pawar who are official corrupts. Unofficial will be jailed and actually they are, check Tihar's population.
    So the question here is intention and you can't do any Anshan or fast for Real Estate Bill else there will be a CBI inquiry to check on your assets and you'll be jailed for a un-supported conveyance voucher of Rs 20 which you claimed in 1992.
    For a short term solution, it is always better to join hands and buy in bulk so that you can manage one or two changes in BBA and also get a good bargain. Else builders will continue to charge you 24% for delayed installment and may pay you Rs 5 per sq ft per month for delayed possession.
    This is the time for such buying, builders sales are drying up. They will offer good bargain.
    Last but not the least, I found your posts to be very informative and thought provoking, keep it up.


    Hi
    Greetings

    Thanks for the appreciation.. Do share the names of builders beyond 5 years for others information, if at all..

    :)
    Cheers
    CommentQuote
  • The Markets have again started slowing down .

    QuGAPI was taken to be 1000 in Oct 2005.

    The following are the calculated Indices.

    And the following are the change in indices over the previous quarter. A positive number shows that compared to the last quarter the index has increased, and a negative number indicates that the index has fallen compared to the last quarter. When the rate of growth is lower than the previous quarter, it indicates that the price increases are slowing down. From the Graph it is clear that the prices started accelerating in July 2009, and from Jan 2011 onwards the market has started to loose momentum ....









    CommentQuote