Well, 2011 probably didn't start of well for GPL investors including end users for a couple of reasons
MINT TOWER - Yeah they screwed up!!! I don't know what was the problem considering that the mint towers were sold out 'instaneously' - probably just like Eden heights have only a few apartments remaining for the past 2 years :)..sounds like a joke now! Well long story short
-- The company is returning users payments with 8-10% interest pa. (hope someone confirms this)
-- Mint tower refunds doesn't have a big financial impact on the project as the builder had only taken the booking amounts etc..(thats what i gathered from GPL..investors know better)
-- Personally I doubt that MINT Towers will ever be built now. Lets see whats the plan to use the space
bottomline - IT SUCKS!! and doesn't instill a lot of confidence
EDEN HEIGHTS - EDC/IDC
-- the way EDC IDC works is (the less the developed area, the more is the edc idc...i.e govermenment needs that much more money to provide basic infrastructure... i.e broken roads, no water and electricity etc :)
-- EDC/IDC is something government charges so builder doesn't have control over it
-- QUESTION and I am tryin to figure this out --- EDEN HEIGHTS is already 1 year+ behind schedule so assuming that EDEN HEIGHS was delivered in Feb 2010 (3 years)...we would have been saved of the new EDC/IDC -- does it work like that??? If so then -
--- where is the penalty that that builder needs to pay endusers - i.e 3rupees psft per month x 12 months ..so for a 2000 sqft apartmenmt it turns out to be (2000x3)x12 = 72000 and interest etc and the additional edc/idc is approx220,000/-
i am trying to figure this out..any input is appreciated... obviuously all of us are feeling a little Short-changed!!!
.....vik...
21 comments:
The way things are moving in this case, as a customer i feel aggrieved. Although i have not received any letter for increase of EDC but sooner or later all of us will receive this latter (as one of the member has already received this letter). Really, somehow i managed to buy this property but now with the regular price increase it seems that i have to exit from the property. Although this price increase is due to service tax and EDC but i do not think that builder was not aware about all these price increase. If you calculate your total purchase price with this increase, it has gone up by around 7-10% which is not a small amount. Had it known to me, probably i would have settled down with another property of good builder as they were mentioning right things. I am happy with the property, but the way i as a customer have been treated by builder is really very bad. In this country, customer is weak and when it is a matter of real estate, customer rights nowhere exists?
But now, i have learnt one lesson that it is always better to go with reputed builder. Atleast, you can rely on them.
it is sad that people are removing their comments
Hi, Any updates on possession. I recently got the next installment + EDC+IDC letters from builder. My flat is in H block.
There are lots of deleted posts? Any specific reason?
- Nitin
I have recently recieved the letter on Service Tax...which is applicable on all payments made by me post 1st July 2010...Is it true for other owners as well? Please suggest. Also, I have heard that builders are not suppose to charge covered or open car parking charges as per recent order by Supreme Court...it seems owners in Noida Extn. Ajnaara builders have got the car parking amount refunded...so considering this....can we approach our builder accordingly. Will appreciate comments from others. Thanks.
Hi All,
I also receievd the letter for additional EDC/IDC which is bad. In my view builder knows this very well in advance but not communicated to us.
For open/Close car parking I have not heard any builder is refunding the amount. At least its not going to happen in Gurgaon where real state customer dont have any rights.
Hi
We're thinking of buying an apartment - 2150 and am in the process of figuring out the water/road situation etc.
In terms of water - according to this site http://seiaahry.in/forthseiaa.html HUDA will be supplying water to the area in 5 years - just not sure of the date of this particular notice..but in any case they've obviously been given clearance.
We were told that posession will actually be given around mid 2012.
Work on the SPR has begun and acc to the HT, 2 days ago, the work should be complete in 6 months time. Of course the approach road might not be built, but if the SPR is done, things will get a lot easier.
The increase in EDC/IDC is hardly their fault and if you look at the clauses it always mentions that any increase in this charge has to borne by the buyer :(
Hi Guys,
I have a 2BR flat with GPL.
There is no development of mint towers or the villas shown in the brochure.
we should meet at some time in gurgaon and discuss once for all as what all can be done with the EDC/IDC and late delay of project.
Let me know . I will appreciate an early response/feedback.
Thanks
MANISH
9971476891
manishdx@yahoo.com
Manish, they didn't get approvals to build the MINT towers because of some density of flats issue. They are refunding the money as per the original post.
What I am trying to say is : if they are not building flats , what are they are going to do with that piece of land. They should complete the project in 1 go , whether it is flat or villas . If they are building something there after eden heights flats, it is not good.
Has anyone taken a loan with SBI for this project?
please suggest me as i m willing to buy a flat in eden heights bt somewhat confused as got some negative views
what sort of negative views?? I have a booking with them in MInt Tower. but do not know when will they build it.
Hi,
I am in talk with a seller to buy a flat in this complex. I have been trying to figure out on the various issues and understand the builder's reputation is at stake. Please advise (genune and unbaised), whether I should proceed or not. lloking at the sample flat it is attrcative and the ptoject is also on it's way for completion in 1 year.
priyanka hi, priyanka this side i am real estate consultant if you feel any dificulty as well as you want suggestion plz make call on this number: STAR INFRACON 9971959992, 9971990837
Hi - I visited GPL site to see sample which looks very good. Can anyone provide their inputs on possession date as I have been told that the bulider has delayed the project further.
Hi - I visited GPL site to see sample which looks very good. Can anyone provide their inputs on possession date as I have been told that the bulider has delayed the project further.
Hi,
We are planning to buy a flat in GPL Eden heights..the layout is very impressive.Everything seems to be good on the papers but since its a big decision just wanted an honest feedback.
1.GPL infrastructure has no other project in pipeline nor has it delivered anything in the past..so just wanted to be sure about the credibility of the developer.
2.There is no direct access road right now.the only way to reach there is thru the village.So even if it is delivered in the next 1yr..won't it be difficult to commute from that place?
3.Will it actually be delivered in the next 1 and half yrs as being claimed by the brokers.
Will really appreciate the feedback.
Thanks,Divya
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