jyoti iyer, Chennai
Q: We know that there is a delay in Jain Housing on our Jain Inseli Park project. After the discussion with supporting team, I understood the reasons on delaying. In fact Every Builder in Chennai including major reputed companies like DLF also delays their projects. Compare to other firms, I felt Jain Housing is better. The main reason on delaying is labour shortage. We know that from last one year the work progress is going well in Jains Inseli Park. Mostly they complete all the flats in 3 to 4 months. My flat is almost complete, Finishing is well to see.

My replies to this discussion
Sounds too goody goody and all the comments coming in the last 7-10 days!!! Guess the coments are from customers who have booked the apartment in revised offer floated recently and who see the project getting completed in next 9-12 months. You guys are doing it with good intention of creating a positive feeling about Inseli so that it can help sell the remaining unsold flat at the earliest and the project is completed soon. Frankly, even for those who have booked the apartment at about the same rate long back (4-5-6 years),there is no other option left but try and support Jain's to finish the project faster. After all, the money one would have paid since last over 4-5 years and intrest on that must have accumulated as a big COST (particularly allthose who booked in 2007-2008 and have dutifuly paid all Demands raised by Jain's.) Sounds too goody goody and all the comments coming in the last 7-10 days!!! Guess the coments are from customers who have booked the apartment in revised offer floated recently and who see the project getting completed in next 9-12 months. You guys are doing it with good intention of creating a positive feeling about Inseli so that it can help sell the remaining unsold flat at the earliest and the project is completed soon. Frankly, even for those who have booked the apartment at about the same rate long back (4-5-6 years),there is no other option left but try and support Jain's to finish the project faster. After all, the money one would have paid since last over 4-5 years and intrest on that must have accumulated as a big COST (particularly allthose who booked in 2007-2008 and have dutifuly paid all Demands raised by Jain's.)
Sounds too goody goody and all the comments coming in the last 7-10 days!!! Guess the coments are from customers who have booked the apartment in revised offer floated recently and who see the project getting completed in next 9-12 months. You guys are doing it with good intention of creating a positive feeling about Inseli so that it can help sell the remaining unsold flat at the earliest and the project is completed soon. Frankly, even for those who have booked the apartment at about the same rate long back (4-5-6 years),there is no other option left but try and support Jain's to finish the project faster. After all, the money one would have paid since last over 4-5 years and intrest on that must have accumulated as a big COST (particularly allthose who booked in 2007-2008 and have dutifuly paid all Demands raised by Jain's.) Sounds too goody goody and all the comments coming in the last 7-10 days!!! Guess the coments are from customers who have booked the apartment in revised offer floated recently and who see the project getting completed in next 9-12 months. You guys are doing it with good intention of creating a positive feeling about Inseli so that it can help sell the remaining unsold flat at the earliest and the project is completed soon. Frankly, even for those who have booked the apartment at about the same rate long back (4-5-6 years),there is no other option left but try and support Jain's to finish the project faster. After all, the money one would have paid since last over 4-5 years and intrest on that must have accumulated as a big COST (particularly allthose who booked in 2007-2008 and have dutifuly paid all Demands raised by Jain's.)
JAin Housing has brought the saleability of the apartment down by letting the delay happen. Instead of taking positive action they started pointing out to customers not paying the installment as the reason for the delay (not realising that it is the same reason that caused the customers to lose confidence in the project) At the right time if they would have pumped in required funds and overcome the problem rather than squatting and squabbling with non paying customers, they would have kept the Project image up and it would have been as good a Project as all the others are in the vicinity of Inseli. They could have penalised the customers who are not paying up and incentivised the loyal customers. Now the situation is that Loyal and paying customers are put to huge Loss. The intrest the old and loyal customers have been paying on their disbursed amount is much much higher than value of the property. (No Appreciation of rates in last 4-5 years).JAin Housing has brought the saleability of the apartment down by letting the delay happen. Instead of taking positive action they started pointing out to customers not paying the installment as the reason for the delay (not realising that it is the same reason that caused the customers to lose confidence in the project) At the right time if they would have pumped in required funds and overcome the problem rather than squatting and squabbling with non paying customers, they would have kept the Project image up and it would have been as good a Project as all the others are in the vicinity of Inseli. They could have penalised the customers who are not paying up and incentivised the loyal customers. Now the situation is that Loyal and paying customers are put to huge Loss. The intrest the old and loyal customers have been paying on their disbursed amount is much much higher than value of the property. (No Appreciation of rates in last 4-5 years).
My comments to replies
Sounds too goody goody and all the comments coming in the last 7-10 days!!! Guess the coments are from customers who have booked the apartment in revised offer floated recently and who see the project getting completed in next 9-12 months. You guys are doing it with good intention of creating a positive feeling about Inseli so that it can help sell the remaining unsold flat at the earliest and the project is completed soon. Frankly, even for those who have booked the apartment at about the same rate long back (4-5-6 years),there is no other option left but try and support Jain's to finish the project faster. After all, the money one would have paid since last over 4-5 years and intrest on that must have accumulated as a big COST (particularly allthose who booked in 2007-2008 and have dutifuly paid all Demands raised by Jain's.)
JAin Housing has brought the saleability of the apartment down by letting the delay happen. Instead of taking positive action they started pointing out to customers not paying the installment as the reason for the delay (not realising that it is the same reason that caused the customers to lose confidence in the project) At the right time if they would have pumped in required funds and overcome the problem rather than squatting and squabbling with non paying customers, they would have kept the Project image up and it would have been as good a Project as all the others are in the vicinity of Inseli. They could have penalised the customers who are not paying up and incentivised the loyal customers. Now the situation is that Loyal and paying customers are put to huge Loss. The intrest the old and loyal customers have been paying on their disbursed amount is much much higher than value of the property. (No Appreciation of rates in last 4-5 years).
20th April 2013

JAin Housing has brought the saleability of the apartment down by letting the delay happen. Instead of taking positive action they started pointing out to customers not paying the installment as the reason for the delay (not realising that it is the same reason that caused the customers to lose confidence in the project) At the right time if they would have pumped in required funds and overcome the problem rather than squatting and squabbling with non paying customers, they would have kept the Project image up and it would have been as good a Project as all the others are in the vicinity of Inseli. They could have penalised the customers who are not paying up and incentivised the loyal customers. Now the situation is that Loyal and paying customers are put to huge Loss. The intrest the old and loyal customers have been paying on their disbursed amount is much much higher than value of the property. (No Appreciation of rates in last 4-5 years).
Any compensation that Jain is paying for this abnormal delay whihc has caused erosion of the Value of the Apartment is only what is there in the contract. Abnormal delay and abnormal loss should be dealt exceptionally by the Project proponent in the larger intrest of their Company's Image and reputation as well as in keeping with the customer ethics standards they envision if any.
20th April 2013

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