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Lotus Zing by The 3C Company in Sector 168, Noida

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Lotus Zing by The 3C Company in Sector 168, Noida

Last updated: February 28 2019
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  • Re : Lotus Zing by The 3C Company in Sector 168, Noida

    Originally posted by peeyushsp View Post
    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/
    Last edited October 15 2015, 11:50 AM. Reason: quote formatting

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    • Re : Lotus Zing by The 3C Company in Sector 168, Noida

      Really worst scenario for now where nobody is sure if 3C has any plan to start/resume construction works..As per them they have started the process of construction like ordering of equipment,generators and allot the work to contractor and we will see increase in workforce soon..

      But when we visit as site we dont see any progress so tough situation for all buyers of zing..even if go in court we have to forgot our apartment for next 2 years if 3CS not starts the construction now....

      jai mata di...

      Comment


      • Re : Lotus Zing by The 3C Company in Sector 168, Noida

        Originally posted by rahul21jan81 View Post
        Really worst scenario for now where nobody is sure if 3C has any plan to start/resume construction works..As per them they have started the process of construction like ordering of equipment,generators and allot the work to contractor and we will see increase in workforce soon..

        But when we visit as site we dont see any progress so tough situation for all buyers of zing..even if go in court we have to forgot our apartment for next 2 years if 3CS not starts the construction now....

        jai mata di...
        They say so every few months.
        Last edited October 15 2015, 05:56 PM. Reason: quote formatting

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        • Re : Lotus Zing by The 3C Company in Sector 168, Noida

          Yes I know Amit..From last 2 years I am hearing same..Last time a ray of hope comes in the term of NGT clearance but again it looks like going away from us..Really my worst decision of my life to go with 3CS..Now no option left...

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          • Re : Lotus Zing by The 3C Company in Sector 168, Noida

            Originally posted by rahul21jan81 View Post
            Yes I know Amit..From last 2 years I am hearing same..Last time a ray of hope comes in the term of NGT clearance but again it looks like going away from us..Really my worst decision of my life to go with 3CS..Now no option left...
            NGT was never an issue.
            Last edited October 15 2015, 06:59 PM. Reason: quote formatting

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            • Re : Lotus Zing by The 3C Company in Sector 168, Noida

              Originally posted by amitexpert View Post
              NGT was never an issue.
              Exactly... NGT never asked any Builder to stop work... Delay in OC due to NGT would have been relevant only if Project (or part of it) would have been Fully Ready... But nothing is ready actually...

              Builder is so shameless that it doesn't think twice before issuing a new planned date...

              I am failing to understand the intent behind all this... By spending few Crores more, he'll not only get rest of money but also save itself from being labelled as one of the worst Builders (in coming years under construction Properties of only good Builders will sell i hope)...

              And whatever the reason and/or intent is... The point is that it will not change in few months.... What will happen when the next deadline arrives... and then next... and then next... They'll have to spend the rest of amount, whether they do it today or tomorrow... More they delay, more the cost of finishing will be...

              What is the worst case scenario here?

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              • Re : Lotus Zing by The 3C Company in Sector 168, Noida

                Originally posted by CA Rajeev View Post
                Exactly... NGT never asked any Builder to stop work... Delay in OC due to NGT would have been relevant only if Project (or part of it) would have been Fully Ready... But nothing is ready actually...

                Builder is so shameless that it doesn't think twice before issuing a new planned date...

                I am failing to understand the intent behind all this... By spending few Crores more, he'll not only get rest of money but also save itself from being labelled as one of the worst Builders (in coming years under construction Properties of only good Builders will sell i hope)...

                And whatever the reason and/or intent is... The point is that it will not change in few months.... What will happen when the next deadline arrives... and then next... and then next... They'll have to spend the rest of amount, whether they do it today or tomorrow... More they delay, more the cost of finishing will be...

                What is the worst case scenario here?
                Zing was never in 10 Km radius too. So, he can't even take false cover of NGT for Zing at least.
                Last edited October 15 2015, 07:00 PM. Reason: quote formatting

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                • Re : Lotus Zing by The 3C Company in Sector 168, Noida

                  Originally posted by amitexpert View Post
                  Zing was never in 10Km radius too. So, he can't even take false cover of NGT for zing atleast.
                  Oh yes... But what do u think about other factors mentioned in my previous post?

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                  • Re : Lotus Zing by The 3C Company in Sector 168, Noida

                    Originally posted by CA Rajeev View Post
                    Exactly... NGT never asked any Builder to stop work... Delay in OC due to NGT would have been relevant only if Project (or part of it) would have been Fully Ready... But nothing is ready actually...

                    Builder is so shameless that it doesn't think twice before issuing a new planned date...

                    I am failing to understand the intent behind all this... By spending few Crores more, he'll not only get rest of money but also save itself from being labelled as one of the worst Builders (in coming years under construction Properties of only good Builders will sell i hope)...

                    And whatever the reason and/or intent is... The point is that it will not change in few months.... What will happen when the next deadline arrives... and then next... and then next... They'll have to spend the rest of amount, whether they do it today or tomorrow... More they delay, more the cost of finishing will be...

                    What is the worst case scenario here?
                    Worst case scenario is really the worst case scenario (builder willingly or unwillingly leaves project midway - the project is taken up by the people with first lien either bank or VC and there is a long struggle between residents and said lien owners to rescue the property - residents probably spend good 40-50% more than anticipated or lose everything - yes NA will also demand its dues) - but equally likely for any builder not 3C only.

                    The answer to your question is this - all builders WANT to use the proceeds to buy something else or siphon off money for some personal gain or another plot of land.

                    The key key thing here is - if they are putting your money to use - they pay 5 Rs PSF 1-3% but if they borrow money to expand business they pay 18% interest. And land being limited will run out and the builder gets less chance to become big (get into the next project and next and so on). And since there are no laws to prevent this effective ponzi scheme, and prices on the rise, shameless builders went in for launch and pre-launch on land they bought from other projects - effectively trapping people in and buying other pieces of land. They were careful - fast initial construction - get good buzz and then go for the kill. No one really factored in the recession in RE and now with nothing selling and money in various tracts of land via the ponzi scheme, builders cash flow has dried up and they have no money to build.

                    In one of your points above, you write that builders have to deliver now or next year or year after - I wouldn't be too sure - there is going to be a few projects that will never see the light of day - Mist Avenue, Unnati World etc - will all probably never make it

                    3C had a unique issue in that the main two partners split - Lotus 300 has a big issue and other concerns

                    Some builders ATS, Bestech etc believed that delivery is important - they were no saints but atleast they delivered well, we can all hate Amrapali and Supertech but they have more often delivered.

                    We are all in a delicate situation - make no mistake - buy in RTM and if your builder has delayed beyond expected timelines - put a case in consumer court without fail

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                    • Re : Lotus Zing by The 3C Company in Sector 168, Noida

                      Hi everyone

                      tommorow we have meeting with Vidhur on zing site at 11:30. please be there to discuss and ask your questions.. This time we have asked him to do meeting on site to verify the real scenario with his false statemnet given in 3cs's AC office room..

                      So please come at 11:30 trow on Zing site sec 168...

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