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Urbana Business Park, M3M India, Sector 67, Gurgaon

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Urbana Business Park, M3M India, Sector 67, Gurgaon

Last updated: September 16 2018
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  • #71

    #71

    Re : Urbana Business Park, M3M India, Sector 67, Gurgaon

    Originally posted by peterGLA1 View Post
    Have you checked the payment plan? Is it same as in the original allotment letter?
    Here is the Payment plan in the BBA.
    Attached Files

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    • #72

      #72

      Re : Urbana Business Park, M3M India, Sector 67, Gurgaon

      Isn't it changed from initial plans? In initial plans commencement of facade was being charged after completion of top floor. Now it is after 6th floor. Since it is on commencement and not completion of external facade, cash outflow would be quicker.

      Comment

      • #73

        #73

        Re : Urbana Business Park, M3M India, Sector 67, Gurgaon

        Originally posted by peterGLA1 View Post
        Isn't it changed from initial plans? In initial plans commencement of facade was being charged after completion of top floor. Now it is after 6th floor. Since it is on commencement and not completion of external facade, cash outflow would be quicker.

        Here is the original payment plan.
        Attached Files

        Comment

        • #74

          #74

          Re : Urbana Business Park, M3M India, Sector 67, Gurgaon

          Originally posted by namangoyal View Post
          Here is the original payment plan.
          Naman,

          Do you see the difference and cash flow distortion it will make to us?

          Comment

          • #75

            #75

            Re : Urbana Business Park, M3M India, Sector 67, Gurgaon

            Actually the payment plan is different for different buyers... It would be depend on when the booking was done by user.


            Originally posted by peterGLA1 View Post
            Isn't it changed from initial plans? In initial plans commencement of facade was being charged after completion of top floor. Now it is after 6th floor. Since it is on commencement and not completion of external facade, cash outflow would be quicker.

            Comment

            • #76

              #76

              Re : Urbana Business Park, M3M India, Sector 67, Gurgaon

              Originally posted by peterGLA1 View Post
              Naman,

              Do you see the difference and cash flow distortion it will make to us?
              I can see it..
              But is there anything we can do about it?

              They have basically clubbed the last 4 payments to make them 2 payments.
              Which will be payable sooner?

              Comment

              • #77

                #77

                Re : Urbana Business Park, M3M India, Sector 67, Gurgaon

                Thanks for sharing.. Looks like they will use the grace periiod and effective time will be 42 months at least...
                Originally posted by namangoyal View Post
                Completion time is 36 months from the signing of the BBA.

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                • #78

                  #78

                  Re : Urbana Business Park, M3M India, Sector 67, Gurgaon

                  Yes. So basically it some time in 2016 that we can expect possession. By then the residential projects around would have completed and retail space should get good rentals.
                  But 4 years seems a long time right now.

                  Comment

                  • #79

                    #79

                    Re : Urbana Business Park, M3M India, Sector 67, Gurgaon

                    Actually i want that take at least 4 years as most of the residential project will be delayed... No point in getting the possesion and paying monthly maintainence whiout any business around..

                    I assume the Maintainence would be at least Rs 5 per sq feet

                    Originally posted by namangoyal View Post
                    Yes. So basically it some time in 2016 that we can expect possession. By then the residential projects around would have completed and retail space should get good rentals.
                    But 4 years seems a long time right now.

                    Comment

                    • #80

                      #80

                      Re : Urbana Business Park, M3M India, Sector 67, Gurgaon

                      Originally posted by namangoyal View Post
                      I can see it..
                      But is there anything we can do about it?

                      They have basically clubbed the last 4 payments to make them 2 payments.
                      Which will be payable sooner?
                      Yes and it has been chenged from Completetion of facade to commencement of facade. facade takes lot of time and by making it commenncement they can start simutaneously with any floor and ask for the payment. I think we would be major looser if we accept this.
                      Also plans are not different but same for all the buyers. They claim that they have removed 3rd basement and now construction would be only 6th floor.( still to confirm). We must represent this since it would majorily affect our ROI and future sales.

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