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Appu Ghar IAL, Sector 29, Gurgaon: Suggestions for Shop in Food Court

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Appu Ghar IAL, Sector 29, Gurgaon: Suggestions for Shop in Food Court

Last updated: September 1 2018
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  • Re : Appu Ghar IAL, Sector 29, Gurgaon: Suggestions for Shop in Food Court

    Add me to Group

    I agree we should a least wait till September and see if they fulfill their commitment
    Regards

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    • Re : Appu Ghar IAL, Sector 29, Gurgaon: Suggestions for Shop in Food Court

      The problem is not september... the problem is coming clean in the legal enquiry.. hope there is a speedy resolution ...

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      • Re : Appu Ghar IAL, Sector 29, Gurgaon: Suggestions for Shop in Food Court

        Deadline

        Deadline of the credibility would be September , the month returns are due.
        Post that the assessment would be required.

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        • Re : Appu Ghar IAL, Sector 29, Gurgaon: Suggestions for Shop in Food Court

          Does anyone has an update on the legal issue???.. i feel things would only restart once the developer start selling the other towers options in the premises.....

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          • Re : Appu Ghar IAL, Sector 29, Gurgaon: Suggestions for Shop in Food Court

            add me on whats app please

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            • Re : Appu Ghar IAL, Sector 29, Gurgaon: Suggestions for Shop in Food Court

              Will someone please add me on whatup group. Does anyone has any more updates. Please share

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              • Re : Appu Ghar IAL, Sector 29, Gurgaon: Suggestions for Shop in Food Court

                Originally posted by Sunny k View Post
                Will someone please add me on whatup group. Does anyone has any more updates. Please share
                increase your post count to 10 atleast and then send us pm with your whatsapp number
                thanks
                http://www.indianrealestateforum.com/835585-post449.html

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                • Re : Appu Ghar IAL, Sector 29, Gurgaon: Suggestions for Shop in Food Court

                  Thanks , i will increase my post count asap

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                  • Re : Appu Ghar IAL, Sector 29, Gurgaon: Suggestions for Shop in Food Court

                    Members, please note -


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                    • Re : Appu Ghar IAL, Sector 29, Gurgaon: Suggestions for Shop in Food Court

                      Still thinking

                      Undoubtedly, the trust of investor's on this Amusement Park company (IRAL) has gone on a roller coaster ride I finally joined watsapp group where the leading members are doing great job to unite all investors and put pressure on IRAL officials. The unity needs to be strengthened further by more and more investors.

                      I have few specific points and questions which I thought I will put in this thread:

                      1. I had purchased one unit in FEC Fine Dining in October 2014. I had opted for adjusted basic return plan after making full and final payment.

                      2. So far MoU is not signed. We were catching hold of broker for almost 4 months. Then finally a MoU came which had multiple blanks for important and key data.

                      3. After reading the MoU thoroughly and after discussing from broker, I realized that my payment is not over. In future when the unit will be leased out, they will ask for more money based on some formula written in MoU. I have tried to describe it briefly below:

                      a) The promised basic return is 160/- per sq.ft (psf) which will be paid by the company only till the construction is completed. After construction completion, the company will be free from obligation of paying basic return to investor. However beyond this, monthly rental of the unit will start after the unit is leased out by the company. From my understanding, in case there is a delay between actual completion of construction and actual start of lease agreement, there can be few months in which we will get nothing. Nobody can predict if this delay will be there or not.

                      b) After the unit is leased out, the monthly rental will be received by investors.Company has assured a rental of minimum 160/-psf. The unit price that we have paid is considering this much of rentals, so it is called committed fee. The actual rentals may be more or less than the committed fee of 160/-psf.
                      c) Now if the actual rentals are less. That is, instead of getting 160/-psf we get only 140/-psf. In this case, the company will refund a amount of difference*(100 months)*(area in sq.ft.). For considered example, it will be (160-140)*100months*300sqft = 600000/- . This is indeed a rare case considering location of the project.

                      d) If the actual rentals are more than committed fee, then the benefit of increased rentals will be passed to the investors at SOME COST. Here this formula is used: difference*(100 months)*(area in sq.ft.)*0.5. For example, if increased lease for the unit is 300/-psf, then we will need to pay company (300-160)*100*300*0.5 = 21 lacs. If we fail to pay this amount, we will continue to get monthly rental of 160/-psf despite the actual rental of 300/-psf being received by company from lessee. Even any future appreciation also will not be passed on to the investor if he fails to pay this amount.

                      The question I have here is, what if someone does not have that much money (like 21lacs). Will they give freedom to make partial payment (say 10.5lacs) and receive half of the benefit (140/2 = 70/-psf)? More importantly, will he be able to benefit from the future hikes in lease of unit? These questions are very important because this is going to decide future benefits for the investors. I am still following up with my broker to get answer to these questions. If anyone has thought of it earlier, please comment.

                      4. So far I have not executed MoU, can I claim back my investment? If anybody has done something like this please share.
                      Last edited August 31 2015, 11:50 PM.

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