Any Info on this:

|| THE LAKE DISTRICT ||


It seems some US investor is investing money in this project...what is the status as of now....

And do these ppls have guts to complete 110 acres township in Pune when established player like Blue Ridge & megapolis are struggling to get bookings....

It seems these days everybody is seeming big money in Indian RE, without knowing indian conditions...

more views on this are invited...
Read more
Reply
798 Replies
Sort by :Filter by :
  • Phase II - Registration - More Details

    Hello everyone,
    Thought i will share the details of my conversation with the sales guys.

    1. Registration has begun for Phase II (as most of you already know) and they expect the 2nd 10% installment before 12-Feb (They are supposed to deposit the service tax or something before that deadline).

    2. Civil work is to commence from Sep-2013, definitely (i have been told). So expect the 3rd Installment during that time.


    3. Few additions to the agreement have been made.
    for e.g. PRA is now providing 3 years warranty to their flat which i believe wasn’t in the agreement for Phase I.

    4. Possession has been rescheduled to Aug-2015 from earlier Dec-2014. (Safer side assume you won’t get possession by Dec-2015)

    5. 9% interest paid if the builder delays possession and same for the buyer i.e. the buyer pays 9% interest if delay in paying installment

    6. If you are not available locally (like me) you can pay the 10% now and the remaining when you are ready to do the agreement. Which has to happen before Sep 2013?

    7. Change is Area, As Amit communicated earlier, a small change in salable area has been made for the 3 BHK Premium (not sure of the other flats)

    I know this has been a wait for a quite a few of you, But thankfully its atleast begun now the uphill wait for the contruction to complete and possession.
    Regards
    Vik
    CommentQuote
  • Originally Posted by viksem
    Hello everyone,
    Thought i will share the details of my conversation with the sales guys.

    1. Registration has begun for Phase II (as most of you already know) and they expect the 2nd 10% installment before 12-Feb (They are supposed to deposit the service tax or something before that deadline).

    2. Civil work is to commence from Sep-2013, definitely (i have been told). So expect the 3rd Installment during that time.


    3. Few additions to the agreement have been made.
    for e.g. PRA is now providing 3 years warranty to their flat which i believe wasn’t in the agreement for Phase I.

    4. Possession has been rescheduled to Aug-2015 from earlier Dec-2014. (Safer side assume you won’t get possession by Dec-2015)

    5. 9% interest paid if the builder delays possession and same for the buyer i.e. the buyer pays 9% interest if delay in paying installment

    6. If you are not available locally (like me) you can pay the 10% now and the remaining when you are ready to do the agreement. Which has to happen before Sep 2013?

    7. Change is Area, As Amit communicated earlier, a small change in salable area has been made for the 3 BHK Premium (not sure of the other flats)

    I know this has been a wait for a quite a few of you, But thankfully its atleast begun now the uphill wait for the contruction to complete and possession.
    Regards
    Vik


    Hi,
    Can you confirm in written from PRA, if they delay the possession of flat then they will pay the 10% RI on the amount paid till the date of actual possession? The actual clause says, if the builder delay/ fails to give possession of flat then the developer shall be liable to refund the to the purchaser the amount already received and simple interest at 9% pa . Customer shall be legal owner of the flat until the developer pays the amount and interest.
    PRA is telling half part of the clause.

    Regards,
    Mirage
    CommentQuote
  • Thanks Nishant. Wish they had started booking for villas soon :(

    This place must be good to stay specially in monsoon. Will follow this thread for updates. Pls keep posting.

    Originally Posted by NishantB007
    Villa is part of Phase 3 and Phase 4 hence the booking will start may be in 2014-15 but that all depend how Phase 2 goes on.... cost wise so far no idea but i think the rate would be approx INR 4500 Sqft.....

    i guess PRA guys are providing details on that so you can call and check directly with them to get more details.

    Nishant B.
    CommentQuote
  • Thanks viksem

    Originally Posted by viksem
    Hello everyone,
    Thought i will share the details of my conversation with the sales guys.

    1. Registration has begun for Phase II (as most of you already know) and they expect the 2nd 10% installment before 12-Feb (They are supposed to deposit the service tax or something before that deadline).

    2. Civil work is to commence from Sep-2013, definitely (i have been told). So expect the 3rd Installment during that time.




    3. Few additions to the agreement have been made.
    for e.g. PRA is now providing 3 years warranty to their flat which i believe wasn’t in the agreement for Phase I.

    4. Possession has been rescheduled to Aug-2015 from earlier Dec-2014. (Safer side assume you won’t get possession by Dec-2015)

    5. 9% interest paid if the builder delays possession and same for the buyer i.e. the buyer pays 9% interest if delay in paying installment

    6. If you are not available locally (like me) you can pay the 10% now and the remaining when you are ready to do the agreement. Which has to happen before Sep 2013?

    7. Change is Area, As Amit communicated earlier, a small change in salable area has been made for the 3 BHK Premium (not sure of the other flats)

    I know this has been a wait for a quite a few of you, But thankfully its atleast begun now the uphill wait for the contruction to complete and possession.
    Regards
    Vik




    Thanks Viksem. Thats really a lot of useful and wonderful information.
    I also cant rgister now since i'm out of pune. I plan to provide th next installment for now and register once i return.
    CommentQuote
  • Originally Posted by mirage
    Hi Nishant,
    It seems you have more details than anyone here. Do you know if PRA has got the NA for Phase II from PMC? Also, PRA is telling about paying the interest if delay in possession. Are they paying for the Phase I customers since it's delayed for more than 6 months and after looking at the site, I don't think Phase I possession will be before Aug 2013.
    Just curious :)

    Mirage



    Yes PRA has received NA for Phase 2 as registration had started. i am one of the owner in phase 2, not sure about interest received by phase 1 owners however its in the contract so they are obliged to pay it.. and phase 1 owners are fighting with PRA for possession with basic amenities like roads and street lights etc...
    CommentQuote
  • Originally Posted by viksem
    Hello everyone,
    Thought i will share the details of my conversation with the sales guys.

    Thanks for the info.....

    Thanks for the info.....
    CommentQuote
  • Just saw the ICRA rating for PRA. It's gone down from BBB stable to BBB - (negative). Was going through the document and noted that the Phase II shall start in Q2FY13 and complete in Q2FY16. This means Phase II shall start after Sept 2013 and completion/ possession will be somewhere in 2017 (considering delay) :)
    Wondering how long it will take to complete the entire project. Will it be possible for Phase I people to live there w/o water, w/o electricity and basic needs?
    http://www.icra.in/Files/Reports/CPR/Pune_Kondhwa_Realty-cpr-17072012.pdf
    CommentQuote
  • Originally Posted by mirage
    Just saw the ICRA rating for PRA. It's gone down from BBB stable to BBB - (negative)
    http://www.icra.in/Files/Reports/CPR/Pune_Kondhwa_Realty-cpr-17072012.pdf


    Very good piece of information on PRA Realty's The Lake District. Thanks for sharing.
    CommentQuote
  • Wondering how long it will take to complete the entire project. Will it be possible for Phase I people to live there w/o water, w/o electricity and basic needs?
    http://www.icra.in/Files/Reports/CPR/Pune_Kondhwa_Realty-cpr-17072012.pdf

    Thanks for the info, good to know detailed information about the entire project.

    Thanks for the info, good to know detailed information about the entire project.
    CommentQuote
  • Has any buyer in Phase II of Lake District done the agreement? Assuming all of them have paid next 10% towards registration stage before Feb 12th.
    CommentQuote
  • Originally Posted by BailOut
    Has any buyer in Phase II of Lake District done the agreement? Assuming all of them have paid next 10% towards registration stage before Feb 12th.

    Haven't heard anything from PRA as well. No sign of agreement even after paying installment. :(
    Seems another EA in happening :(
    CommentQuote
  • Originally Posted by mirage
    Haven't heard anything from PRA as well. No sign of agreement even after paying installment. :(
    Seems another EA in happening :(


    TLD is in much better position than EA as of today.

    May be most of the Phase II buyers are out of country and have delayed their registrations to a later date but may have paid next 10%

    If anyone in Phase II has done registration, please confirm.
    CommentQuote
  • Originally Posted by akash481
    TLD is in much better position than EA as of today.

    May be most of the Phase II buyers are out of country and have delayed their registrations to a later date but may have paid next 10%

    If anyone in Phase II has done registration, please confirm.


    Yes u r right most of the buyers of phase 2 are out of india including me....
    we are in touch with PRA and my registration and agreement date is confirmed in month of May and it is as per my convenience as i can not come now to do it.

    so those who dont know anything about this should not talk on it......
    CommentQuote
  • First news later for phase 2

    Dear All,

    TLD has sent first newslater for the phsae 2, which explain lots of things and shows really very positive side about the project and the progress...
    see on news from it regarding the increase of area

    Change in unit areas
    We are also pleased to inform you that as part of our standardization process, we have increased the area of all apartments at “The Cove, The Lake District” by approx. 2% with immediate effect. As a gesture of goodwill, we will not be charging you a single rupee towards this extra area, which has automatically been added to your unit free of cost and which will give you an instant price & area benefit on your apartment at “The Cove, The Lake District”.

    This really good for all the phase 2 owners...
    CommentQuote
  • Originally Posted by NishantB007
    Dear All,

    TLD .....area benefit on your apartment at “The Cove, The Lake District”.

    This really good for all the phase 2 owners...

    That's really good. i just saw the News Letter, they have mentioned completion in Sept 2015 for Phase 2A. What is 2A anybody have idea about this?
    CommentQuote