I am hearing mixed reviews of indiabulls as a group:

- Financially it seems to be a strong entity. They have good balance sheets and are making the eway
- The Centrum project in GGN does not seem to be facing any problem and progressing well. Have not heard anything on Enigma
- However understand the Indiabulls Panvel project has been a problem for investors from a perspective of dealing with the co- sq feet area increased for flats later on with additional money demands, office staff not easy to deal with etc.

Any thoughts if this seems to be only a problem with a particular city and not for the group per se? I think is important given that new projects are being launched by the group and I for one do not want to wrestle with a real estate company for 3/4 years after putting my lifelong savings...
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  • Hi

    I fully agree with your viewpoint about Indiabulls as a builder.

    Even Enigma has same story like their panvel project as you mentioned. Dealing with the office staff (particularly the sales department) is not easy. I have a flat in Enigma which I booked in prelaunch. Since then, I always found a new dealing person interacting with me as the earlier staff was either shifted to some other project or left the organization. I have had a really bad experience with their team at Gurgaon. In my case, the flat number alloted to me was not exactly the same flat (club and park facing) which I discussed with their VP - sales at the time of my booking. Always a new person discussed things with me and not aware of my earlier dealing / interaction.

    All the sales staff at gurgaon office are inefficient and non cooperative. For a project like enigma, the type of customers they are dealing with, I believe IB should put competent persons in place.

    At the signing of my buyer's agreement, I noticed that my address, my block number and my unit number was wrongly mentioned. When I pointed out the mistake, they simply acknowledged it as a clerical mistake and changed the relevant pages of agreement. They have a very casual approach.

    Moreover, they have even more number of holidays than yours so you will have to go and meet them on your working day as nobody will be available on Saturdays and Sundays. I have never seen a work culture like IB.

  • Indiabulls have one of the worst reputations in Mumbai market.. from where they do a bulk of their business. Their staff especially the sales and customer care is a total nightmare!

    Not a single investor in Indiabulls has had a single positive thing to say. Most times they do not even defend their project and keep ruing..
  • Hi, I have a unit in Enigma, and recently had a chance to interact with the customer care folks in Gurgaon over email & phone. To be honest with you, I was pretty impressed with the responsiveness of the team there. Although I wouldn't generalize my experience to say that the builder is fantastic, but I haven't had a reason to complain till now.

    Anyway, the answer to this ques for me will come when (& if) Enigma turns out to be a much sought after society as it has been projected to be.

    I understand that SolfaR has not had a good experience in this matter, and respect his thoughts. And, for the sake of IB & investors/end users in its projects, I hope IB turns out to be a name to trust like IREO, Godrej, TATA et al.

    By the way, would you consider DLF a tier 1 builder even though there are news items everyday about the issues facing the group, and not-so-good experience of various investors / end-users??!!