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ITWAP and Infosys group

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ITWAP and Infosys group

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

    Assuming you are Nitin Degaonkar and group is Insignia?

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    • Re : ITWAP and Infosys group

      Appreciate your efforts...although m not a part of ur grp and all...its really diffucult to find people these days who along with their professional commitments able to spend extra time on these kinds of things which are really helpful for others.

      pcpune...better you shud appreciate efforts rather than criticism...if u think u can get 30% discont in case u have 50+ memebrs..i suggest go and bargain with builders..even if you post it today on IREF with any scheme wih 30% discount u will be able to get more than 100 buyers..else dont speculate that builders will giv x..y % discount..show with your actions not criticise with your thinking...


      Originally posted by nitind View Post
      While I dont agree with your view point, i respect the fact that you can have a different view point.

      I must thank you as this viewpoint will make us think how more people can see value in this. We have done first project with many people joining to do another such project as we have already gone thru the process once. And I feel it is not without any valid reason. Our endeavor will be to do a better job taking the learnings from the first one.

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      • Re : ITWAP and Infosys group

        One more point I want to put that Nitin missed (Hope Nitin will appreciate me for reminding this) that for 2400sqft price, the members had to give out 20% of total amount upfront(6L for 2bhk) while signing MoU. Builder used this money to buy land. One must weigh-in the discount vs the price paid for it. Here the price paid for is 20% amount upfront without project being sanctioned or land being finalized.

        Originally posted by pcpune View Post
        Well, I dont think thats true,I have come across many small groups - 5 to 10 who have easily managed a 10-15% kind of a reduction....for a group of over 50, try even today and you yould find the builder even giving you 30% from its existing price.

        All I can say is, there is not much "MALAI" for the members, its already been sucked out like all other schemes by the builder....

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        • Re : ITWAP and Infosys group

          If builder is buying land with customer's money, then he is a service provider? In that case, land should be group's name right from start, along with all FSI on the land.

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          • Re : ITWAP and Infosys group

            Originally posted by aditi sharma View Post
            One more point I want to put that Nitin missed (Hope Nitin will appreciate me for reminding this) that for 2400sqft price, the members had to give out 20% of total amount upfront(6L for 2bhk) while signing MoU. Builder used this money to buy land. One must weigh-in the discount vs the price paid for it. Here the price paid for is 20% amount upfront without project being sanctioned or land being finalized.
            Yes, 20% amount is paid by each of the members. It is towards land purchase though not entire land cost is covered with this 20% payment.

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            • Re : ITWAP and Infosys group

              My 2 paisa:

              on my individual efforts I got a discount of 12 % (I'm still considering it from long time) with very god builder. Manu I disagree with you on this front, a group of 100 can easily crack the deal for a discount of say 25 % for sure. Say any builder in this world who won't likeeasy and fast cash?
              I was asked for this scheme too but after lot of analysis I found it difficult to stay put (again location was a minus). Today I can get the rate of 3000 -3200, even Vascon's MD was ready for 3500; and all this I'm talking about individual capacity. 100*40 Lk= 40 Cr. when you go out for a discussion with this much amount, you carry the dagger not the builder.

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              • Re : ITWAP and Infosys group

                Originally posted by manu1981 View Post
                Appreciate your efforts...although m not a part of ur grp and all.....
                Thanks manu for your appreciation.

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                • Re : ITWAP and Infosys group

                  Originally posted by abeerbagul View Post
                  If builder is buying land with customer's money, then he is a service provider? In that case, land should be group's name right from start, along with all FSI on the land.
                  Dear Abeer,

                  20% Amount that is paid is not making up for the entire cost of land. We have an MOU to ensure the rights for the members for the land and FSI however it can not be in our name. We have hired a lawyer and made legal documents. I hope this answer's query at least in part. I can not put all terms of MOU here however at least can state that all terms have been finalized in meetings of members and in consultation with lawyer.

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                  • Re : ITWAP and Infosys group

                    Well, I cannot comment on rate, because have experienced how tough it is to negotiate with builders.
                    But, great effort keeping such a large group together, may you enjoy your new homes with your families.

                    Please accept any criticism from our side as directed towards the project / process, and not towards any person or his/her intentions. So take it positively (as much as you can)

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                    • Re : ITWAP and Infosys group

                      Guys,
                      Please stop treating this as a housing scheme, and all the land, FSI, terms and conditions belong to the builder.What else the hapless members can actually do now ? I dont think they have choice...

                      Anyways, manu,

                      I surely think efforts are required for "housing schemes" but not MUCH for booking schemes...infact you work for your own benefits (which I dont wish to talk about).

                      We have had many deals cracked with the builder as said,,,all in the range of 15-30% with different group sizes...The builder himself offers a discount...

                      Megapolis,Blue Ridge,Mahindra Lifespace,rohan leher,many more....

                      So, 100 is a really big number and the builder will surely have his tongue out of his mouth and 20% shouldnt be really difficult...If you dont agree, its your choice....
                      Last edited by pcpune; July 15 2010, 03:17 PM.

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