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
why on earth should you disburse and pay interest to the bank when they dont even have the permissions to construct. You should plainly refuse payment/disbursement and we should form a group and fight out the illegal penalty for any delayed payment. They cannot demand (leave alone charge interest for delayed payment) for something that they dont have permissions for.why on earth should you disburse and pay interest to the bank when they dont even have the permissions to construct. You should plainly refuse payment/disbursement and we should form a group and fight out the illegal penalty for any delayed payment. They cannot demand (leave alone charge interest for delayed payment) for something that they dont have permissions for.
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
They have not conveyed anything at the time of booking ....infact the date(sorry year) of possession stated while selling is different from what u will see in the agreement and to add insult, you will have a interest free term of 1 year for the builders delay and the worse is delay beyond that 9% , while we are expected to pay 18% with no grace period ..... and all this when they dont even have permissions to build. So dont even know on what basis they are sending demand letters!They have not conveyed anything at the time of booking ....infact the date(sorry year) of possession stated while selling is different from what u will see in the agreement and to add insult, you will have a interest free term of 1 year for the builders delay and the worse is delay beyond that 9% , while we are expected to pay 18% with no grace period ..... and all this when they dont even have permissions to build. So dont even know on what basis they are sending demand letters!
Q:
What's the current rate in market for Casa Univis?
My replies to this discussion
really wanna know who these wise rich people are who can throw such huge amounts down the drain ... knowing the reputation of the builder in giving delayed possessions by almost a 100% overshoot .... all the best for your investment decisions!really wanna know who these wise rich people are who can throw such huge amounts down the drain ... knowing the reputation of the builder in giving delayed possessions by almost a 100% overshoot .... all the best for your investment decisions!
Q:
i am MR VARUGHESE. I have a booked a 3 BHK Flat at OPTIMA TIERRA . I am an NRE in the Gulf. I have finish my job and by the end of OCTOBER i will be comming. I have no were to stay so kindly let me know when i will get my possesion of my flat it is on the 13th floor. This is my only hard earn saving. Please give me your feedback.
My replies to this discussion
You will be lucky is they get permission to build by 2013 .... and if you get possession by 2014-2015, that also looks like a dream knowing lodha group's reputation ..... i have also unfortunately invested here and spending on rentYou will be lucky is they get permission to build by 2013 .... and if you get possession by 2014-2015, that also looks like a dream knowing lodha group's reputation ..... i have also unfortunately invested here and spending on rent
Q:
My name is Varsha, I have bought a flat in Tiera "A" wing in Sept 2009 and registered in the same month. Till today the construction has reached only the 11th floor and is awaiting permissions. Plz shed some light on the real causes of such a big delay. Also I have received a letter from Lodha about 5% VAT and it is to be paid within 15 days of the receipt of the letter or else it will attract some additional interest. Although we registered in Sept 2009 but had made very little payments until march 2010 (after which the VAT was slashed to 1%). Do we still have to pay the 5% VAT or should it be charged as and how the construction progresses? (like the service tax)
My replies to this discussion
Hey Raj, Brilliant point so well explained by you. This surely makes the point clear for most of us. Let me also take the opportunity to share a thought that, LODHA is just playing on the psyche of the purchaser by sending him demand with interest on delayed payment, legal notices for cancellation (thast a joke coz they are illegal). So please do not fall prey to these tricks, just tell them u will not pay, period. Also note they can charge interest only from the time of layout plan approval and Construction Clearance Permission date (for your floor), whichever is later. So most of their calculations and demand letters can be conviniently ignored.
Hope this helps. So stop paying completely, till they have permissions for the entire building documented and sent to you.
Warm Regards,
ARHey Raj, Brilliant point so well explained by you. This surely makes the point clear for most of us. Let me also take the opportunity to share a thought that, LODHA is just playing on the psyche of the purchaser by sending him demand with interest on delayed payment, legal notices for cancellation (thast a joke coz they are illegal). So please do not fall prey to these tricks, just tell them u will not pay, period. Also note they can charge interest only from the time of layout plan approval and Construction Clearance Permission date (for your floor), whichever is later. So most of their calculations and demand letters can be conviniently ignored.
Hope this helps. So stop paying completely, till they have permissions for the entire building documented and sent to you.
Warm Regards,
AR
