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- The best approach should be to hire a good lawyer.
The fees are minimal.CommentQuote0Flag
- I heard that ICICI and some other banks have not sanctioned the project. Not sure about the exact reason though.CommentQuote0Flag
- 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.CommentQuote0Flag
- Any more inputs in Rahul park? Should I one go ahead with the scehme.CommentQuote0Flag
- 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.CommentQuote1Flag
- very well put on rahulhunt...gud wrk. many in this forum will be helped by this.CommentQuote0Flag
- 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.CommentQuote0Flag
- 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.CommentQuote0Flag
- 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.CommentQuote0Flag
- nitesh321, Any information is much appreciated. If there's no issues with the Land then it's a really nice place to stay. I really liked it.CommentQuote0Flag
- Hi . pune, I'm not sure about the Building no's. which had the issue. I'm still in the process of getting that info. As soon i get it will Post it here ASAP. What other info. that you can share with us which will help us in buying a house in Rahul Park, more easier. Please share all or any info. it will definitely be helpful...Thank you pune & Everyone one of you who responded !CommentQuote0Flag
- pune : The only concern is after the builder forms a Co.Hos Soc. the Land should be on Co. Hos Soc's Name. Then there is no issue.CommentQuote0Flag
- Rahulhunt: As far as I know that all the flats haev been sold out and very few are available.
From this forum itself I came to know about the court case and after court case, construction was halted for 2-3 months and later builder got a stay on that and construciton was resumed.
But all above info is based on one or two things heard from ohter people, no athuntication.
The construction quality is very good and yes area is good with shopping complex nearby.
Rates are surly going northword direction day by day.CommentQuote0Flag
- Originally Posted by puneRahulhunt: As far as I know that all the flats haev been sold out and very few are available.
What a fuss...all flats have been sold out and very few available...ha ha ha...good joke...either one is true.CommentQuote0Flag
- I KNow pune...I was checking for Authenticity..from all the sources I could...as I don't want to Invest my Hardearned Money into something which has legal issues.CommentQuote0Flag