Is DB Orchid Ozone worth investing in todays date?

Devang Mehta, Mumbai

18th May 2016

Residential Project Review in DB Orchid Ozone, Dahisar East, Mumbai

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delay project by db realty

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Replies (4)

Thank you everyone for your valuable comments. Its a eye opener. I wont buy in DB.
Does anyone have some idea about another project in Dahisar East called Celestial Living? 4 Towers, 40 floors each, 7000 Rs per sq. ft, year 2020 possession?

Devang Mehta, Mumbai

19th May 2016

Comment

Hello Shalini!!!
The same problem is faced across most of the under construction projects in Mumbai. Absence of Real Estate Regulator and strict laws enforcing delivery have left us at the mercy of such builders.

Your Initiative is very good and atleast those who follow social media will stop from buying in such never ending projects..

Mansoor Bithal, Mumbai

19th May 2016

Comment

Hi Devang!!!
Here is a list of problems we faced/ or probably you would face too with DB Realty if you are deciding to book a house. 1) They will never let you read the agreement while signing, 2) Once booked you will not get any status updates, 3) You can't sell your flat even after the lock in period, you will have to bear a unnecessary transfer charge which will shave of nearly 30% of your profit, 4) agreements will be one sided which will favor the builder only, there is nothing in favour of the buyer, 5) Every payment delayed by even a day would lead to a huge penalty by 18%, 6) Layouts and plans can be altered as per their convenience.

Dharmaja Patel, Mumbai

19th May 2016

Comment

Yes, we all are facing the same issue Devang. Don't go for this project or your hard earned money will stuck. Even after the builder has crossed his delivery deadline as per his own agreement he can continue to delay, it stating unavailability of materials etc. Now we are out of options so decided to put this up on social media. Hoping that one day we will get possession for our houses.

Shalini Parikh, Mumbai

19th May 2016

Hi Devang!!!
Be cautious before you invest in any under construction projects of DB Realty. The builder lobby is so strong at this stage that they are nearly unbeatable. On asking for an update on the progress for a house which I booked 5 yrs back the response from senior official in DB Group, Mri. Nabil Patel that "Do whatever you want, or take your money back" in a harsh tone.

Jerome Fernandez, Mumbai

19th May 2016

Comment

Jerome is Right Devang. If you don't believe then search in Google with project names, you will found a lot's of negative reviews about this developers and its project. Even, I have spent uncountable weekends gathering buyers, setting up meetings with DB officials, speaking to lawyers. It is unlike the full page ads they show about a great a view, peace of mind, great place for family which of-course comes at an affordable cost... but believe me, a heart burn of troubles will follow you once purchase is made.

Anirudh Patel, Mumbai

19th May 2016