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ITWAP and Infosys group

Last updated: November 23 2015
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  • Re : ITWAP and Infosys group

    This is for individual housing units you fool! Not for apartments in large complex.

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    • Re : ITWAP and Infosys group

      Originally posted by Blueberry View Post
      This is for individual units you fool!
      Hey Hey you FOOL... The dwelling unit can be purchased (and SBI provides group loans) on the name of a society.... MOST group housing socieities first form a society after identification of land and then purchase land on the society name, even the bank account is in the name of the society..

      Did you even try this option ? I already know people who have done this........ Now dont say this is a false example....I can cite many examples here....

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      • Re : ITWAP and Infosys group

        you already know? then let all here know! It seems you dont know it in full. We have already explored SBI met the DGM of SBI.

        anyways as I said hum chalte rahenge - logon ko bhok ne do. bye!
        Last edited by Blueberry; May 20 2010, 10:41 PM.

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        • Re : ITWAP and Infosys group

          RIght, SBI Colony, SInd Society, Many DDA allotted Societies (Delhi), ...First go and talk to any bank....they will surely guide you and Nitin...

          I already know you guys know this, but you dont want to take this route,,,

          The main problem is identification of the land ---- once you decide on it, approach banks AFTER a forming a society with 10 members....and you will be through...you still not telling me whats your problem in following this proceeess

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          • Re : ITWAP and Infosys group

            Originally posted by Blueberry View Post
            you already know? then let all here know! It seems you dont know it in full. We have already explored SBI met the DGM of SBI.

            anyways as I said hum chalte rahenge - logon ko bhok ne do. bye!
            Abey to chalte jaao ..kyon is forum par bhaukne aaye
            yehaan bhaukne waalo ki kami nahi hai gaalib ..ek dhoondho hajaar milte hain

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            • Re : ITWAP and Infosys group

              Originally posted by Blueberry View Post

              There are no answers to such questions except one - the developers whom we are working with believe in doing worhtwhile things and we as group have certain strength which they believe in.

              The phislosophy with which this is initiated is collaboration with some good developers and we have been fortunate to have assoication with such develpers..

              As you have found this good, we also have some ardent critics as well who are bent upon prooving this to be a malacious excercise. We neither want to make a brouhaha of such criticism (one such campaign is on Indian Real Estate forum i recommend one visits this forum and get allaround feel of what people think about this group prject) nor we get europhic becasue of someone calling it great.

              One who is looking for house for himself / herself is considered to be matured and sincere enough and capable of understanding what is good for self.

              Regards,
              Nitin From: NILESH C. <nileshchaukade yahoo.com>
              To: vje_insignia yahoogroups. com
              Cc: insignia_pune yahoogroups. com
              Sent: Wed, May 19, 2010 3:16:51 PM
              Subject: [insignia_pune] One question

              Hi Nitin,

              I liked this scheme very much and would like to stick with it.

              But, I do have a query - As I understand this is a type of partnership. In a partnership both the parties have to be on the winning side. I see the benefit of the Group - getting flat at discounted rate (INR 2400/sft) but I do not understand the benefit of the builder in giving us flats at a very considerable discounted rate.

              In the vicinity of the proposed Insignia project there are couple of other projects going on like Green Zone, Rohan's Leher and Bhandari Associates' nea. The rates of these sites are: Leher: Rs. 3500, nea: Rs. 2800 (phase II). Considering a 1000 sft flat the cost of Insignia is minimum 4lacs less than the other scheme (nea). If we compare it with Leher (which would be better considering the amenities, layout, distance from highway, goodwill of the builder) the difference comes out to be more than minimum 6Lacs. I 'm some how not able to convince myself that for VJE this loss per flat is less than the benefit he gets from group booking.

              Another thought on this is why would the builder not start a site all on his own. I feel even if he keeps the rate of 2600/sft he would sell 200 flats in couple of days. Again raising the rates after selling (let's say every) 50 flats would be in his hands.

              I'm sure this must have already been discussed within the group earlier, but it would be very helpful if you could throw some light on it (again) for the benefit of the new members.

              Regards,
              Nilesh

              Never deal with people, when you are not sure of other party intentions behind this. Any partnership HAS to have some very very very obvious interests on both sides. If you are not sure how your partner benefits from this partnership, quit, otherwise it will hurt you.

              No one does charity. No one has time to build homes for others free of cost. People don't have time to build their own house, what makes people think that some one will build house for them and give them at absolute cost price.

              I don't understand these buyers, so I call them "Smart Buyers"

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              • Re : ITWAP and Infosys group

                Originally posted by RAJESHP View Post
                Never deal with people, when you are not sure of other party intentions behind this. Any partnership HAS to have some very very very obvious interests on both sides. If you are not sure how your partner benefits from this partnership, quit, otherwise it will hurt you.

                No one does charity. No one has time to build homes for others free of cost. People don't have time to build their own house, what makes people think that some one will build house for them and give them at absolute cost price.

                I don't understand these buyers, so I call them "Smart Buyers"
                You are spot on Rajesh!

                The builder we have roped in is not doing it at cost. He is doing at lowest possible margins that could be negotiated. He is not doing charity. He has a benefit that the project is part self finanaced - about 50&#37; of the initial cost - land / sanctions and mobilization is being facilitated by group members. Also he gets the buyers in one lot! On the other hand none of us have time to do things on our own.

                Though these answers can be found in the posts in yahoo group and as per Nitin this is not a forum to discuss about the matters related to group, I cant put up with some folks here who are just bent upon calling us fools hence I want to respond in defence. Some have even resorted to use of foul language and may be in heat of moment I too responded in similar manner - And do have regrets about it.


                p.s. If one reads the email of nitin posted here, he himself has suggested concerned members to visit this thread on IREF to get allround feel of what others think about Insignia before taking any further steps.
                Last edited by Blueberry; May 21 2010, 06:47 AM.

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                • Re : ITWAP and Infosys group

                  Originally posted by Blueberry View Post
                  To me it appears to be a well planned effort of some members of this forum to malign someone in maliciuous manner without supporting the statements.
                  Well planned? What a joke. I dont know anyone in this forum personally, certainly dont know anyone criticising Insignia.
                  If we have never met, dont know each other, where is the question of well planned?

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                  • Re : ITWAP and Infosys group

                    Ok, another question. Nitin had booked one 3BHK unit in Insignia Phase 1. He also booked a row house in Phase 2. What kind of buyer will have this type of money?
                    Only a big shot investor, or else if the builder has given discounted / free flat.
                    Also, if he is looking for self house, what is his monetary incentive to work so much for phase 2? Dont tell me charity, no one has time to work for free.

                    If you guys are charging management fees for doing this work, please be upfront about it.

                    Certainly dont tell me you are doing all this multiple times just for free.

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                    • Re : ITWAP and Infosys group

                      Originally posted by abeerbagul View Post
                      Ok, another question. Nitin had booked one 3BHK unit in Insignia Phase 1. He also booked a row house in Phase 2. What kind of buyer will have this type of money?
                      Only a big shot investor, or else if the builder has given discounted / free flat.
                      Also, if he is looking for self house, what is his monetary incentive to work so much for phase 2? Dont tell me charity, no one has time to work for free.

                      If you guys are charging management fees for doing this work, please be upfront about it.

                      Certainly dont tell me you are doing all this multiple times just for free.
                      Abeer, you dont seem to be aware of fact that there are no phases in Insignia anymore. As per the list published in group, there are 212 units in total and one Town house is seen in his name. I verified it again after seeing your post. It is another thing that out of 150 odd allotments, you may say that many of these are blocked by one person with fake idenitities the way politicians do. There is no way one can stop making allegations like this.

                      As regards to the mamangement fees, I think it is a good idea - worth considering. It is certainly a noteworthy effort and far more desirable than the futile posts in the forum. I shall raise this in the group, thanks.

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