Anybody have visited/any info regarding this project..This looks decent one...but I think a bit costly...

If anybody visited them recently then plz update the price, current status of project & builder's repo...I have been to SKYi' site they have mentioned Nilay & Sheher (both Rohan's property) in their past project....This seems that they were just working as contractor in those projects & now they have come up with their own project...

Any info on this is very much appreciated...
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  • Saty out of IRIS.

    Originally Posted by ash7979
    Anybody have visited/any info regarding this project..This looks decent one...but I think a bit costly...

    If anybody visited them recently then plz update the price, current status of project & builder's repo...I have been to SKYi' site they have mentioned Nilay & Sheher (both Rohan's property) in their past project....This seems that they were just working as contractor in those projects & now they have come up with their own project...

    Any info on this is very much appreciated...


    Iris:-

    ="http://www.skyi.com/iris_gallery.html"]www.skyi.com/iris_gallery.html

    Location:- (Baner-Balewadi, Behind Amar Mall).

    ="http://www.skyi.com/iris_location.html"]www.skyi.com/iris_location.html

    Total buildings = 2 (A & B).
    Actual building for sale = 1 (B).

    The builder states 'A' was sold out in 2 weeks after launch. He did not even publish any brochure (nor is it there on the website).

    Proposed total no. of floors = 11
    No. of flats per floor = 6
    Total No. of flats = 132; (2*6)*11

    Revised status:-
    total no. of floors = 9
    No. of flats per floor = 6
    Total No. of flats = 108; (2*6)*9

    Current status :-
    total no. of floors (A) = 9
    total no. of floors (B) = 6
    Hence, total no. of flats
    = 54+36 = 90
    Builder waiting for FSI for rest 3 floors (18) flats for wing B.

    Here are some facts:-

    1.) The additional FSI was expected by mid Oct-2008, then by Nov 2008 later by Mid Dec 2008.
    Current Status:- FSI still pending.

    2.) 'A' wing was largely sold to the plot owners. Hence, builder tried to get profits from 'B' buyers alone.

    3.) Builder has 2 separate contractors for A & B. Now why is this is anybody to guess.

    4.) Sample flat got ready almost after 2 years!! What's more if builder states that the project has been over 90% sold out, why sample flat at first place then??:p

    5.) The pace of construction is slower than even snails pace.

    6.) Several purchases here were made by NRIs & investors. Several fell for the hype of this project & their wonderful website (of which some links don't work)!
    These bookings now stand canceled.

    7.) The possession date of Dec 2009 is simply impossible at current pace.

    8.) In 2008, quoted price was INR 4200/sq ft. It has been reduced to INR 3200/sq ft nego. & will easily go below INR 3000/sq ft even today.

    Conclusion:- Builder is not reliable. Status of project still not confirmed in terms of sanctions etc.

    Worst possible scenario:- This project may not be completed at all & even if does, definitely not before 2 years seeing current situation.

    Infact, the builder (Mr.Patil) himself wanted to meet me at his Law College rd. office to negotiate the price.
    However, when I told him that bookings won't be done for those floors (read floor 7 & above) which are yet to be sanctioned at any rate, the meeting was canceled.

    This builder is running out of funds & hence may not complete the project. Required sanctions are yet to be received from PMC. Best thing to do is to stay out of this so called premium project 'IRIS'.
    CommentQuote
  • Thanks a lot for your detailed info...
    CommentQuote
  • Stay away from this Patil Builder, He has created Mess in Elite Empire
    CommentQuote
  • what issue u have seen in elite empire??? I stay near elite empire, from outside its looks okay...its looks like in Pune all builder are real chores !!!

    I think now I have to stop searching anything in Pune....Pune is not the place for honest home buyers..
    CommentQuote
  • Builder has eaten all the maintainance fund and handed over to society with negative balance. There's very less supply of PMC water so the society is living on Tanker supply
    CommentQuote
  • so, why dont ppls (society) drag this guy to court & on top of that ppls can file complaint in consumer court as well, if all 200-300 flat owner will launch complaint in the consumer court then I think some effect should be on builder..I hope thay may have done that as well....thats why I said most of the builders in pune are chores....so god save us...
    CommentQuote
  • Originally Posted by nick_champ
    Builder has eaten all the maintainance fund and handed over to society with negative balance. There's very less supply of PMC water so the society is living on Tanker supply

    Do you have any info about Mittal Crosswinds?
    CommentQuote
  • Originally Posted by ash7979
    so, why dont ppls (society) drag this guy to court & on top of that ppls can file complaint in consumer court as well, if all 200-300 flat owner will launch complaint in the consumer court then I think some effect should be on builder..I hope thay may have done that as well....thats why I said most of the builders in pune are chores....so god save us...

    and one more thing, see the courage of this guy, he launched another project almost 100-200 mts away from elite empire...when he has cheated ppls...I must say Pune's builders are real courageous or Pune junta (all we ) are so naive that we cheated many times but we still go to these builders...I also feel that after hearing all the stories against The Kumars, The Mont verts, The ravirajs & story goes on, still they are in the mkt & selling their property like hot cakes....Do we have a thing called LAW , Kanoon or say police (govt) in india????? Real pity:(
    CommentQuote
  • What an extensive analysis ? Excellent !! I a really impressed with you REALACRES. You are doing a good job...keep it up.

    ....Harish

    Originally Posted by realacres
    Iris:-

    ="http://www.skyi.com/iris_gallery.html"]www.skyi.com/iris_gallery.html

    Location:- (Baner-Balewadi, Behind Amar Mall).

    ="http://www.skyi.com/iris_location.html"]www.skyi.com/iris_location.html

    Total buildings = 2 (A & B).
    Actual building for sale = 1 (B).

    The builder states 'A' was sold out in 2 weeks after launch. He did not even publish any brochure (nor is it there on the website).

    Proposed total no. of floors = 11
    No. of flats per floor = 6
    Total No. of flats = 132; (2*6)*11

    Revised status:-
    total no. of floors = 9
    No. of flats per floor = 6
    Total No. of flats = 108; (2*6)*9

    Current status :-
    total no. of floors (A) = 9
    total no. of floors (B) = 6
    Hence, total no. of flats
    = 54+36 = 90
    Builder waiting for FSI for rest 3 floors (18) flats for wing B.

    Here are some facts:-

    1.) The additional FSI was expected by mid Oct-2008, then by Nov 2008 later by Mid Dec 2008.
    Current Status:- FSI still pending.

    2.) 'A' wing was largely sold to the plot owners. Hence, builder tried to get profits from 'B' buyers alone.

    3.) Builder has 2 separate contractors for A & B. Now why is this is anybody to guess.

    4.) Sample flat got ready almost after 2 years!! What's more if builder states that the project has been over 90% sold out, why sample flat at first place then??:p

    5.) The pace of construction is slower than even snails pace.

    6.) Several purchases here were made by NRIs & investors. Several fell for the hype of this project & their wonderful website (of which some links don't work)!
    These bookings now stand canceled.

    7.) The possession date of Dec 2009 is simply impossible at current pace.

    8.) In 2008, quoted price was INR 4200/sq ft. It has been reduced to INR 3200/sq ft nego. & will easily go below INR 3000/sq ft even today.

    Conclusion:- Builder is not reliable. Status of project still not confirmed in terms of sanctions etc.

    Worst possible scenario:- This project may not be completed at all & even if does, definitely not before 2 years seeing current situation.

    Infact, the builder (Mr.Patil) himself wanted to meet me at his Law College rd. office to negotiate the price.
    However, when I told him that bookings won't be done for those floors (read floor 7 & above) which are yet to be sanctioned at any rate, the meeting was canceled.

    This builder is running out of funds & hence may not complete the project. Required sanctions are yet to be received from PMC. Best thing to do is to stay out of this so called premium project 'IRIS'.
    CommentQuote
  • Thanks Realacres for very useful information. Can you or someone also give credibility of MontVert Developers ?

    Moreover, I would like to know whether the ownership of common amenities like garden, club, gym etc. remains with developers , as normally stated in the agreement clauses ? I used to think that all common amenties are transferred to Society after completion of project.
    CommentQuote
  • Originally Posted by realacres
    Iris:-

    ="http://www.skyi.com/iris_gallery.html"]www.skyi.com/iris_gallery.html

    Location:- (Baner-Balewadi, Behind Amar Mall).

    ="http://www.skyi.com/iris_location.html"]www.skyi.com/iris_location.html

    Total buildings = 2 (A & B).
    Actual building for sale = 1 (B).

    The builder states 'A' was sold out in 2 weeks after launch. He did not even publish any brochure (nor is it there on the website).

    Proposed total no. of floors = 11
    No. of flats per floor = 6
    Total No. of flats = 132; (2*6)*11

    Revised status:-
    total no. of floors = 9
    No. of flats per floor = 6
    Total No. of flats = 108; (2*6)*9

    Current status :-
    total no. of floors (A) = 9
    total no. of floors (B) = 6
    Hence, total no. of flats
    = 54+36 = 90
    Builder waiting for FSI for rest 3 floors (18) flats for wing B.

    Here are some facts:-

    1.) The additional FSI was expected by mid Oct-2008, then by Nov 2008 later by Mid Dec 2008.
    Current Status:- FSI still pending.

    2.) 'A' wing was largely sold to the plot owners. Hence, builder tried to get profits from 'B' buyers alone.

    3.) Builder has 2 separate contractors for A & B. Now why is this is anybody to guess.

    4.) Sample flat got ready almost after 2 years!! What's more if builder states that the project has been over 90% sold out, why sample flat at first place then??:p

    5.) The pace of construction is slower than even snails pace.

    6.) Several purchases here were made by NRIs & investors. Several fell for the hype of this project & their wonderful website (of which some links don't work)!
    These bookings now stand canceled.

    7.) The possession date of Dec 2009 is simply impossible at current pace.

    8.) In 2008, quoted price was INR 4200/sq ft. It has been reduced to INR 3200/sq ft nego. & will easily go below INR 3000/sq ft even today.

    Conclusion:- Builder is not reliable. Status of project still not confirmed in terms of sanctions etc.

    Worst possible scenario:- This project may not be completed at all & even if does, definitely not before 2 years seeing current situation.

    Infact, the builder (Mr.Patil) himself wanted to meet me at his Law College rd. office to negotiate the price.
    However, when I told him that bookings won't be done for those floors (read floor 7 & above) which are yet to be sanctioned at any rate, the meeting was canceled.

    This builder is running out of funds & hence may not complete the project. Required sanctions are yet to be received from PMC. Best thing to do is to stay out of this so called premium project 'IRIS'.


    Thanks for this analysis .... I am impressed.
    Today morning I thought about this project. Wanted to know the status .. but found this instead.. well done.


    Thanks for this analysis .... I am impressed.
    Today morning I thought about this project. Wanted to know the status .. but found this instead.. well done.


    Thanks for this analysis .... I am impressed.
    Today morning I thought about this project. Wanted to know the status .. but found this instead.. well done.


    Thanks for this analysis .... I am impressed.
    Today morning I thought about this project. Wanted to know the status .. but found this instead.. well done.


    Thanks for this analysis .... I am impressed.
    Today morning I thought about this project. Wanted to know the status .. but found this instead.. well done.


    Thanks for this analysis .... I am impressed.
    Today morning I thought about this project. Wanted to know the status .. but found this instead.. well done.
    CommentQuote
  • Avoid MV at any cost.

    Originally Posted by sdjq8
    Thanks Realacres for very useful information. Can you or someone also give credibility of MontVert Developers ?

    Moreover, I would like to know whether the ownership of common amenities like garden, club, gym etc. remains with developers , as normally stated in the agreement clauses ? I used to think that all common amenties are transferred to Society after completion of project.

    MV are big crooks. Read here for more:-

    ]http://www.punescoop.com/story/2007/3/5/5211/73725

    The entire project including amenities lie with the society residents & not builder once co-operative soc. is formed.

    The entire project including amenities lie with the society residents & not builder once co-operative soc. is formed.
    CommentQuote
  • Thanks Realacres for very valuable information. Most developers write in the agreement that purchaser will not object to any additional construction in open space etc. if additional fsi is sanctioned. Is it possible that one purchaser insists that the clause be deleted but others might have overlooked and signed. I see all agreemnts drafts given by developers are highly one sided and it appears that you think you have all amenities but it is only your falt/unit which is yours. Developers also write that that the club is run as commercial activity and the developer has right to decide the fees and enriol members. With inclusion of such clauses it appears though you pay premium price for amenities they come as option and at addl. cost which is not known at the time of agreement.

    You appear to be expert in the RE market can you please guide what one should look in the agreemnt clauses.

    Once again I really appreciate that despite your being member on this forum only recently you have posted highly factual details and guiding prospective RE buyers.
    CommentQuote
  • hi...any latest updates on Iris...I had med Mr. Jagtap the other partner....and he seemed to be a resonable person...he had some financial issues during May/June but those seem sorted out...any idea on water and proposed roads in this part of balewadi where the project stands?
    CommentQuote
  • Originally Posted by leoking
    hi...any latest updates on Iris...I had med Mr. Jagtap the other partner....and he seemed to be a resonable person...he had some financial issues during May/June but those seem sorted out...any idea on water and proposed roads in this part of balewadi where the project stands?

    Don't expect that road i.e. from Amar Paradigm Mall to Iris come up in next few years. As there is no project nearby, I don't know about water. The pace of construction is highly unsatisfactory. Have you inquired the current status about higher floors whose sanctions are pending? Before going here, ask about the mess which the builder has created in Elite Empire. The only good thing about this project:- It's website:D.
    CommentQuote