Q:Do not buy this Property – This is a big scamThe agreement will be with a bankrupt company called National standard India Ltd who has lease with MIDC for 40 years. Technically you will never be the owner of your own property. There will be a corpus fund included in maintenance so it can be paid to MIDC for renewal of lease (if they agree).If you would like to sell your property after 10 years why will someone buy it? By the time they would finish their loan nearly 50 – 75 % of the property value again will be due to paid to MIDC for renewalBuilder has some other plans as they are giving the clubhouse membership only for 30 years. Nowhere in the agreement you will find Lodha’s name. What if NSIL goes bankrupt sold or gets in to a legal soup.This property is mortgaged with HDFC bank (Complete Residential and Commercial)…. Funny you are paying for a mortgaged propertyI had booked a 3 BHK and when i found out about these hidden things builder is not refunding the token amount. They were so sweet while selling this flat and now they don't even respond to emails.People, who have already booked, please go and see the agreement. The lease has started in 1960 with MIDC by this company NSIL
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