My replies to this discussion
Shweta/ Refering to which cluster ? it is not clear the ground mentioned in the letter for increasing the consideration value. You hv to know it however reasonable it may seem. Did u book yr flat 4-5 years ego at very low rates ? Hv u registered yr agreement or it is only on allotment letter basis ?How many others hv also recd similar letters ? Is it the out come of new DCR directive? Your elaboration will help all of us to understand the future strategy of our builder. If you wish you can call me on 9323807531Shweta/ Refering to which cluster ? it is not clear the ground mentioned in the letter for increasing the consideration value. You hv to know it however reasonable it may seem. Did u book yr flat 4-5 years ego at very low rates ? Hv u registered yr agreement or it is only on allotment letter basis ?How many others hv also recd similar letters ? Is it the out come of new DCR directive? Your elaboration will help all of us to understand the future strategy of our builder. If you wish you can call me on 9323807531
Q:
Lodha’s Casa Univis projects under construction at Bhayanderpada, along the Ghodbunder road, 15 km from Thane city. The TMC had pointed out to the major irregularities as RCC structures were built without plinth certificates or in some cases additional floors were constructed without approval of the town planning department. The Lodha group was found to have violated norms in seven instances and in one case, the TMC bureaucrat said, a 10-storied building was constructed without any approvals. “The file was submitted by their architect but our officials were requested by them notto process the files for the time being. However, on site, the builder had gone ahead and built the building without any permissions,’’ the official said.
Municipal commissioner RA Rajeev said several other builders were fined for violation of development control rules and confirmed that penalty amounting to crores was recovered from the two builders. “We initiated action under the Maharashtra Regio
My replies to this discussion
Good feedback on the entire issue of our builder/developer's ways of working. However, the violation of DCR still remains and as per the new directive it may even force the builder to either purchase extra FSI or do away with a few top floors to compensate for the cancellation of free FSI which was earlier granted by TMC. VORAGood feedback on the entire issue of our builder/developer's ways of working. However, the violation of DCR still remains and as per the new directive it may even force the builder to either purchase extra FSI or do away with a few top floors to compensate for the cancellation of free FSI which was earlier granted by TMC. VORA
Q:
I have a flat in Tierra cluster. Recently, my 'Customer Executive' contacted me saying that they have entered into corporate agreements with banks such as SBI, HDFC and others and convinced the banks to release payments. Even though they have permissions only till 4-5 floors, they are demanding money from people who have booked on higher floor. I wonder how they can do this? How can banks, sanction loans in the first place when they knew that permissions were not complete? And how can they disburse money through some private agreements? This seems to me like banks and the builder are in cahoots and we, ordinary flat owners will be skimmed. Does anyone have a different view? What can be done in this situation?
My replies to this discussion
1) This agreement mentioned by Mr Sameer is only with HDFC-SBI and no other banks have agreed to do disbursement without the requisite permission for the booked floors. Our builder is hence suggesting us to change our loan to one of these banks. In this tri-party agreement, the Bank is taking surety from both the sides.
2)Also,as reported in DNA of 13 Jan12,under the new DCR norms some builders would have to take fresh IOD/CC in which no free FSI will be granted. This means builders will hv 2 pay for this short fall in FSI to complete the entire building as planned.It remains to be seen how builders make good this extra FSI-by paying or by curtailing some of the floors !!
It can become a complex issue.Tushar Vora-93238075311) This agreement mentioned by Mr Sameer is only with HDFC-SBI and no other banks have agreed to do disbursement without the requisite permission for the booked floors. Our builder is hence suggesting us to change our loan to one of these banks. In this tri-party agreement, the Bank is taking surety from both the sides.
2)Also,as reported in DNA of 13 Jan12,under the new DCR norms some builders would have to take fresh IOD/CC in which no free FSI will be granted. This means builders will hv 2 pay for this short fall in FSI to complete the entire building as planned.It remains to be seen how builders make good this extra FSI-by paying or by curtailing some of the floors !!
It can become a complex issue.Tushar Vora-9323807531
Q:
I have recieved a demand letter from Lodha regarding service tax on construction services and preferential location charges to the tune of Rs 132000/-.Has anybody received the same or paid the amount? I think this tax is chellanged in the high court.Can anybody tell us the status whether we should pay the amount or wait for the verdict.
My replies to this discussion
Hi Naresh, The st is calculated as per the progress of construction. The preferential location payment for ST refers to the floor rise as defined in the ST directive. However, you need to bear in mind that this is just deposit with Highcourt as the matter is subjudice and till final judgement is delivered the court has asked builders to deposit the ST liability which they are demanding from us. SOme builders directly deposit this amount with court but Lodha prefers to take it in his account and later deposit is with court. It is better as if there is any refund, we dont have to go to court for refund but directly to Lodha who would adjust against our installments.
Rgds...Tushar Vora-Cielo-C-9323807531Hi Naresh, The st is calculated as per the progress of construction. The preferential location payment for ST refers to the floor rise as defined in the ST directive. However, you need to bear in mind that this is just deposit with Highcourt as the matter is subjudice and till final judgement is delivered the court has asked builders to deposit the ST liability which they are demanding from us. SOme builders directly deposit this amount with court but Lodha prefers to take it in his account and later deposit is with court. It is better as if there is any refund, we dont have to go to court for refund but directly to Lodha who would adjust against our installments.
Rgds...Tushar Vora-Cielo-C-9323807531
Q:
Which financial institutions this project is approved? Which bank provide home loans for this project?
My replies to this discussion
Mahesh, You have to also ask the bank you approach if they would disburse the loan amount sanctioned to you EVEN WITHOUT LODHA PROVIDING YOU WITH CC & APPROVED PLAN OF YOUR FLOOR ? Most banks dont do disbursement unless CC & Plans are given to them. This is very important other wise you will be required to shell out much more than what you have planned and Lodha will show no mercy about payments on slabwise basis. Be very very careful about this. Many of us are suffering due to this anomaly. VoraMahesh, You have to also ask the bank you approach if they would disburse the loan amount sanctioned to you EVEN WITHOUT LODHA PROVIDING YOU WITH CC & APPROVED PLAN OF YOUR FLOOR ? Most banks dont do disbursement unless CC & Plans are given to them. This is very important other wise you will be required to shell out much more than what you have planned and Lodha will show no mercy about payments on slabwise basis. Be very very careful about this. Many of us are suffering due to this anomaly. Vora
