Latest update on Orchid Ozone.

Hello Ashish,
It is clearly mentioned in your agreement from April' 2013, if u have paid your stamp duty and regestration before april 2013 it is not mentioned, but at the time of possesion every body has to pay extra Rs.1000sq-ft. It's not property tax that everybody knows, It's actually Development Charges.

@Abhijit,
This is actually Rs 1000 sq-ft extra as development charges,something new invented by DB Realty to cover their cost, because project has been delayed,this is new way of extorting money from the buyers.

Yes we should come together and fight. Though its legal for new buyers and need to verify this 1K. I have some info to share -

Developers have to pay 'external development charges', or EDC, to the government for civic amenities such as roads, water/electricity supply, sewerage and drainage. The EDC is fixed by the local authorities and is passed on to buyers in proportion to the built-up area of their properties. The EDC is clearly mentioned in the agreement.
BUT
You can check the EDC rates by visiting the local town planning authority.

ALSO IF WE DIDNT COME TOGETHER THEN BEWARE ABOUT THIS FRAUD TOO -
In some townships/projects that promise a grand lifestyle, developers do not transfer ownership of facilities with commercial value, such as club house, gymnasium and tennis court, to resident associations.

Builders retain rights over such facilities in the builder-buyer agreement and profit from it. In such an arrangement, residents end up paying for maintenance.

Hi Sandeep,
My question to you, I am planning to purchase of 1bhk flat at DB Orchid Ozone for self occupancy. I am currently in talks with a broker, who has offered me a decent deal. I plan to go with 80% Home Loan for this purchase. Is it a good decision?

Dear Shalini - instead of knowing all facts if you still want to go with DB project then its you wish. I personally wont recommend, instead I would suggest to visit site office first, ask DB team to give you all kind of assurance on paper and what they says.

Secondly you can get good deal directly from DB as they are desperate to sell the flats in DB because earlier they had planned it differently and now I found suffocation in this locality, it looks like SRA project.

If you can increase your budget a little then you can find some good project nearby DB. To my knowledge Lodha and Akruti are there in surrounding areas, their township planning is far better than DB. But you know its Mumbai where everything on sale. Choice is yours.