Hi All,

As 3C has officially launched Lotus Zing, Can we discuss pros and cons of this project and location.

Floor plans and site layout is out on 3C's website.

What is your say on location of the project,

I would appreciate if senior members can comment on this.

regards
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  • prices are not going north not atleast 10% so better as dinesh ji said stick with your money and in case you need the house now just go for RTM even if its costlier little bit , lotus panache is still not nearing completion at one time friend in LP was saying that i will move in 6 months and now 2 years have passed
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  • Mr. ExcelRajan,

    I was promised Mid 2014 date (including 3 months buffer) by 3c for LB. Its' now Sep, 2015 and I have no clue even if in next one year they will give me possession. There are so many examples like me who are cheated by builders. When there are so many RTM (or near to RTM) available in market why do you want to go to under construction thing?
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  • What is the lucrative deal
    Originally Posted by excelranjan
    Hello Group,

    I'm planning to buy a park facing unit in lotus Zing tower 8 in resale, as Im getting a lucrative deal.

    I was told by the broker that the litigation issue has been resolved and 3 cs has started accepting the transfer for same.

    Also the possession time promised to me is Dec 2016.

    Please suggest if this the correct information that has been provided to me by the Builder (3cs) and the broker I'm dealing with.

    Thanks!
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  • Originally Posted by ca rajeev
    never go by what dealer / builder says. Don't buy anything in this project as of now as there is no work going on for last many months, may b a year.

    When completed (god knows when), it will undoubtedly be a good project but this is worst time to enter this project.

    And if for any reason you have to, why only select the disputed tower(s)? Look for some other tower.

    But better don't buy in zing as of now.

    sector 168 no doubt is very promising
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  • There is no dispute in 3C, All disputes are self created by 3C. There are lots of investers in 3C and they don't want to go for registry and all. 3C wants to delay the project to support their investers and due to their own liquidity problems. If you don't need it for immideate possession then you can go for it, else go for only ready to move unit. Most of the UC projects are stuck do to market conditions.
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  • penalty clause

    Hi all, I have a unit in tower 15,,,,,any body has any idea on why the company is not invoking the penalty clause....or what is procedure to get it/
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  • As a thumb rule no builder BAR NONE gives two hoots about investors. So if any one tells you that a builder has made a decision based on the investors benefit only two things are possible - either the person / builder or anyone propogating the news is lying/misinformed or the builder wants to take a course of action and it is the simplest to put the blame onto something - something like investors.

    The builders have 0 personal interest of investors just like he has negative personal interest for the end user.

    The only love is Gandhi ji
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  • All builders make Gandhiji with the help of these so called invester. Otherwise no project will go from 2600->5600
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  • If project goes up to 5600 from 2600. What is builder getting. He has sold at 2600

    My point is no builder cares about any investor or end user and does not base any of his decision with their well being in mind
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  • the builder only offloads the units in stages, so it is in their interest to keep jacking up the prices so that the new units are sold at higher price. This in fact benefited everybody as old users felt good that they made a killing and the broker was happy as he was getting his commission on a higher amount. So it is like a ponzi scheme till the going was good. Once the crash happened and the units could not be sold, at least not at super normal profits. The investors are stuck.
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  • Delays do not benefit the Investors.

    All Buyers (Investors / End Users) have paid major chunk of cost (say 70 to 90% payment)... How would a Investor benefit by holding back 10-30% of cost? He would rather be happy with having more marketability of RTM Property by paying the rest. By getting back almost entire Cost + Profit, he will be in a position to Invest in multiple other Projects (as initial payments will be low) and earn from there as well (If he has to invest in New Projects even now and not consider FD as better Investment now).

    It is a myth that delay benefits the Investors. Investors also have a planned time frame to exit the Project. If such exit time is delayed, his holding period costs him... either Interest or opportunity to earn elsewhere... Initial delays (after paying 10-15%) may be fine for Hardcore Investors but not at this stage...
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  • He is not talking about small investors with 1-2 flats.

    People who underwrite 30-40 or more flats are the nuisance factor. Why would someone which such inventory want to go for REGISTRY/SUB-LEASE in current market scenarios?

    All the flats held by company will also have to be registered as usually these flats are underwritten in name of bogus people or the employees of the company to save tax etc.

    Amit,
    The Logical Buyer | enlightening consumers!

    Originally Posted by CA Rajeev
    Delays do not benefit the Investors.

    All Buyers (Investors / End Users) have paid major chunk of cost (say 70 to 90% payment)... How would a Investor benefit by holding back 10-30% of cost? He would rather be happy with having more marketability of RTM Property by paying the rest. By getting back almost entire Cost + Profit, he will be in a position to Invest in multiple other Projects (as initial payments will be low) and earn from there as well (If he has to invest in New Projects even now and not consider FD as better Investment now).

    It is a myth that delay benefits the Investors. Investors also have a planned time frame to exit the Project. If such exit time is delayed, his holding period costs him... either Interest or opportunity to earn elsewhere... Initial delays (after paying 10-15%) may be fine for Hardcore Investors but not at this stage...
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  • Originally Posted by amitexpert
    He is not talking about small investors with 1-2 flats.

    People who underwrite 30-40 or more flats are the nuisance factor. Why would someone which such inventory want to go for REGISTRY/SUB-LEASE in current market scenarios?

    All the flats held by company will also have to be registered as usually these flats are underwritten in name of bogus people or the employees of the company to save tax etc.

    Amit,
    The Logical Buyer | enlightening consumers!


    I never said Registry Bro... I said "He would rather be happy with having more marketability of RTM Property by paying the rest". This should be applicable even to bulk holders. Such Bulk Holders will also be able to sell at better rates when Project is RTM (beofre Registry). If the delays are assumed to be intentional, how are such holders gaining with it?
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  • Possession Status Tower - 4

    Hi All,

    I am old reader of this forum but posting for the first time. I wanted to share possession status as per 3C officials.

    On 21st of January there was an email from Mr. Naveen Mann stating that fit out options will be given in December 2015 and then Possession 3 months later.

    I received an email reply in end September from 3C when I asked about possession status which is quoted below.


    "Dear Sir/Madam,

    This has reference to your email below, we would like to inform you that the penalty for delay in handing over the possession of the aforesaid apartment would be settled /adjusted as per the terms of buyer’s agreement in the final statement of account issued at the time of offer of possession for the said apartment.

    Also we would like to update you that the possession of tower number 4 in Lotus Zing would be handed over by Nov 2016.

    Regards,
    Team 3C
    "
    I visited site on 04.10.2015 and to my utter surprise everything was same except the guard from Last year September, Zero progress.

    I am sharing some picture to show reality at project site.

    Thanks & Regards

    Piyush
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  • Originally Posted by peeyushsp
    Hi All,

    I am old reader of this forum but posting for the first time. I wanted to share possession status as per 3C officials.

    On 21st of January there was an email from Mr. Naveen Mann stating that fit out options will be given in December 2015 and then Possession 3 months later.

    I received an email reply in end September from 3C when I asked about possession status which is quoted below.


    "Dear Sir/Madam,

    This has reference to your email below, we would like to inform you that the penalty for delay in handing over the possession of the aforesaid apartment would be settled /adjusted as per the terms of buyer’s agreement in the final statement of account issued at the time of offer of possession for the said apartment.

    Also we would like to update you that the possession of tower number 4 in Lotus Zing would be handed over by Nov 2016.

    Regards,
    Team 3C
    "
    I visited site on 04.10.2015 and to my utter surprise everything was same except the guard from Last year September, Zero progress.

    I am sharing some picture to show reality at project site.

    Thanks & Regards

    Piyush


    Only solution is to visit IREF often and also join buyers group.

    https://www.facebook.com/groups/1623446454562598/
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