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Does Rahul Park Warje is a approved project

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Does Rahul Park Warje is a approved project

Last updated: August 3 2011
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  • Does Rahul Park Warje is a approved project

    Hi,

    I am plannign to book a flat in Rahul Park, warje (Rahul Constructions).
    The Flat is ready possesion and people haev allready accoupied the flats.

    I want to know does the scheme is approved and have sanactions in every aspect.

    I want to know more specific A2 building of Rahul Park.

    I don't have any idea in this?

    Please guide me what are the docs should be verified before making the deal?
  • #2

    #2

    Re : Does Rahul Park Warje is a approved project

    The best approach should be to hire a good lawyer.
    The fees are minimal.

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    • #3

      #3

      Re : Does Rahul Park Warje is a approved project

      I heard that ICICI and some other banks have not sanctioned the project. Not sure about the exact reason though.

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      • #4

        #4

        Re : Does Rahul Park Warje is a approved project

        I got info that SBI has not approved the scheme as the Rahul construction is a proprietry company. so they can't get there projects approved.

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        • #5

          #5

          Re : Does Rahul Park Warje is a approved project

          Any more inputs in Rahul park? Should I one go ahead with the scehme.

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          • #6

            #6

            Re : Does Rahul Park Warje is a approved project

            I have been researching on Rahul Parks Property from last 3 months. As I too wanted to buy a Flat in Rahul Park.
            My Finding's are :
            1. ICICI Bank / Axis Bank / IDBI Bank have not Approved Rahul Parks Project as They Do not have a Letter from Charity Commissioner for Developing the property.
            2. SBI Bank /HDFC /Bank of Maharashtra has approved the project because in their criteria of APF Approval process, they do not require Charity Commissioners Letter.
            3. When I researched more on this, I found that the Land Where Rahul Park is Built was a Devasthan Trustee Land where if Rahul Construction has to develop a residential property they need a letter from Charity Commissioner. Which they don't have. Because of which the Land is still on Trustees name & so a conveyance deal could not be done to transfer the land to Rahul Contractions Name. If the Land is not on Rahul Constructions Name then they will not be able to transfer the Land to co-Hos. Soc's Name once they form it after 1 year.
            4. So the issue the buyers will face is they can buy the flats now, but if they want to Sell it they cannot as the Land is not on Co-Hos. Soc's Name. So the conveyance deal won't happen while anyone has to resale the property.

            I'm Still researching on this will let everyone know on this forum once i have more info on this.
            Take care Bye.
            Last edited by rahulhunt007; July 28 2011, 09:48 PM.

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            • #7

              #7

              Re : Does Rahul Park Warje is a approved project

              very well put on rahulhunt...gud wrk. many in this forum will be helped by this.

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              • #8

                #8

                Re : Does Rahul Park Warje is a approved project

                Bravo rahulhunt. Now that is really an example of a meaningful contribution unlike just coming here are asking a question and then never turn up on the forum again to feedback.

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                • #9

                  #9

                  Re : Does Rahul Park Warje is a approved project

                  Hey rahulhunt, one of my relatives stay in Atul Nagar which shares same land with Rahul Park. They were about to go for the conveyance deed last month. I will check out if that has been done. But I suppose it is possible with that land.

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                  • #10

                    #10

                    Re : Does Rahul Park Warje is a approved project

                    good info.

                    I ha allready bought a flat in rahul park. Builder had allready form a housing soc.
                    WIll there is still an issue?

                    The devasthan issue was for building D3, D4, D5 I think not with C1, C2, A1 and A2. Correct me if i am wrong.

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