I received two demands (slab 4 and 5) for HDIL Premier Exoticca building 3-wing A.Did any other received it?

27th August 2014

Residential Project Review in HDIL Premier Exotica, LBS Marg, Mumbai

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Hi what is the current status of HDIL Premier Exotica (Bldg.3) Wing-C Kurla West, affected investor waiting for possession since August, 2010

MADHAVI FATARPEKAR, Apartment Resident

21st July 2017

Comment

Those who r on rented paying rent n need your home very eagerly please join our WHATSAPP group or call 9820829098

Riyaz Khatri,

30th March 2017

Comment

Hi all,
If you are planning to buy properties in LBS Marg, Mumbai. Here are the list of ongoing projects such as Omkar Meridia, HDIL Premier Exotica, Kohinoor City Ph-2, Spenta Palazzio and Vardhman Fiesta available for sale. As the locality and its connectivity is good and at the same time the all the basic facilities are nearby the localities.

Dev Patel, Mumbai

14th April 2015

Comment

hi

i think it is now completed till 7 floors.work is in full swing.

Regards

rakesh vangari, Apartment Resident

5th December 2014

Comment

Hello Sir,
Can you share some information regarding this project and it's possession date? There are lot's of buyers of this project still waiting for the possession of their flats. It will really a helpful for those flats owners.

Kishore Pathak, Mumbai

14th April 2015

Hi Guys,

I have a property in Premier Exotica Kurla Building 3 and am now being asked to pay 3rd installment as well as register the flat. got a letter dated 1st nov. i also got a similar demand notice in oct for which ive paid the installment.

They have along with their demad notice attached a letter from Bidco Engineering Division (bandra East) which mentions that construction work of specific property has been completed upto 2nd floor Slab.

Should i make the payment and register the flat/document.?
What documents should i be asking from them?
Can there be a interest payable by them for the construction delay?
can they levy a penalty of 21% p.a (as per their letter) on us for delaying payment of installments ?

Will appreciate all the help

Ganesh ,

4th December 2014

Comment

Hi Ganesh,
However, as a real estate buyer, one needs to know when you are bound to pay these charges and when you should not:-

Under two circumstances the developer has the right to charge escalation cost from the buyer. Firstly, if the developer improves the specifications of the unit or adds better amenities during the course of construction he can charge the additional cost with proper notice to the buyer. And secondly, if during the course of construction, the cost of construction increases by more than 10-15%, the developers can charge an additional cost provided this clause is mentioned in the agreement.

Thus, it is imperative for the buyer to read the document carefully before buying.

Ashish Bhoite, Mumbai

31st December 2014

Secondly, check your agreement, whether their is any clause mentioned for delaying payment. If yes, then send him a mail or notice for compensation of delay. If the developer is not ready then take a copy of delay notice along with the document and file a case.

Sandeep Mhatre, Mumbai

31st December 2014

When you are planning to buy any property, first and foremost thing is to check down the title deed of that property. The property title deed is the legal document which proves the ownership of property. You should make sure through the title deed that the property is in the name of solely a seller and no one else is and he has all rights to sell it. The best practice is to get reviewed the property deed by an expert lawyer just to make sure that there are no loop holes.

Ashish Bhoite, Mumbai

31st December 2014

A buyer who is the victim of the unfair practices of the builder can approach the following forums for his redressal: 1) he can file a civil suit in a Civil Court He can file a complaint before the consumer forum. 2) he can file a complaint before the Competition Commission of India. 3)he can approach Regulatory Forums and 4) he can file a Criminal Case.

Sandeep Mhatre, Mumbai

31st December 2014

Yes, you should go for the registration but before that make sure that all the legal approvals are in place. There should not be any land dispute.

If you have already paid the 3rd installment, then you must have the payment copy. Present that copy to the builder's office ask to rectify it for further inconvenience.

Ashish Bhoite, Mumbai

31st December 2014

Delay payments of install ment is depends on the builder. Once. Axis bank delayed my payments by 2-8 days. Builder charged interest 18% but when I gave them in writing request about the real issue, Builder waived off all the interest.

Dayananda, Mumbai

18th March 2015

If I were you, I would ask myself the following questions before approaching an Advocate: 1) What is the agreement between you and the Builder ? 2) What are the terms and conditions that you have accepted with him ? 3) Have you in fact seen/got the above mentioned legal document at/from the Builder?

Ketalpujara, Mumbai

18th March 2015

Hi Ganesh,
In addition to the aobve , What is the rate of interest agred to be paid in the agreement between the You and the Builder ! Verify the said Clause in the agreement ! In the Agreement/s there will be certainly a clause for payment of interest for delay payments by purchasers !

Dayananda, Mumbai

18th March 2015

Hi Ashish and Sandeep,
You can not feel the situation of a flat buyers who are passing through the last 3 years. The dreams of a thousand home owners are at stake, as HDIL is withholding possession while most buyers are paying EMI of bank loans.

Roshni Pawal, Mumbai

28th April 2015

You are right Roshini,
But as per HDIL, they have been handing over possession to buyers who made full payment. The process of handing over flats commenced as scheduled and they have already handed over 289 flats to those who paid the entire agreement amount. They have served interest letters to customers who defaulted on scheduled payments. These demand letters for due payments are being raised as per the agreements with home buyers.

Dharmaja Patel, Mumbai

28th April 2015

Hi All,
It is also came to know that process of handing over flats commenced as scheduled and they have already handed over 289 flats to those who paid the entire agreement amount. Comapny have sent interest letters to customers who defaulted on scheduled payments. These demand letters for due payments are being raised as per the agreements with home buyers.

Lalit Verma, Mumbai

26th November 2014

Comment

Is there any Bank now giving loan - all the banks are still saying we are awaiting papers. On the other side, builder is constructing and asking us for money. Why are the Banks not giving loan and what papers are pending - any idea?

Jayant, Mumbai

20th October 2014

Comment

I have received (slab 3 and 4) payment notice for HDIL Premier Exotica building 3-wing A. They are claiming that they have completed 3rd and 4th floor. They have only completed 3rd floor. Does anyone know whether they have completed 4th floor?

Anuja Raval,

2nd September 2014

Comment

Hi,
While builder claims extra money will go to the BMC, civic body officials say they have nothing to do with the project as it comes under the SRA. Builder claimed that money was to be paid to the BMC in the form of fungible FSI. They aren’t ready to give us any sort of documents, which only means something is wrong here. Buyers have been asking them to give us some proof of the BMC claim in writing, which they are not ready to do so.

Ravi Waghmare, Mumbai

28th August 2014

Comment

Hi,
Several flat buyers, who have paid the builder for the flats, are in a similar situation, after the developer called them to his office and informed them that they would only be given possession of their dream homes after paying the additional charges. I have not paid any amount after paying my margin money. Have informed HDIL accordingly, Their sale representative said he knew the account so there is no issue. they have no legal right to ask us for payment as they are not furnishing the requisite papers.

Sunil Joshi, Mumbai

28th August 2014

Comment

Hey Sunil,
You are right. Even in April' 7, after waiting for over three years to gain possession of their flats, home buyers have taken a top developer to task filing an FIR against senior executives of Housing Development and Infrastructure Limited (HDIL), for failing to give possession to people who bought flats in their Premier Residences project at Kurla (W), allegedly after taking full payment from them.

Ravi Waghmare, Mumbai

11th September 2014

Hey Ravi,
Even in January this year, around 400 buyers protested the delay at HDIL's head office in Bandra (E), and in February Laltiwala filed a written complaint with the police after talks with the company failed.

Sunil Joshi, Mumbai

11th September 2014

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