Penalty clause to us.

[Ashish]

Hi All,
I was not aware to wanted all of us to be aware of.

If we don't submit stamp paper and other documents within 30 days from date of possession offered then we are liable to pay 5Rs/sf per month penality.
I thought differently, that they want their final amount (excluding stamp paper) within that period but i was wrong.

--Regards,
Ashish Gupta

[vineet bindal]

That is what I was thinking, in fact that is what I was told by dealer when we bought our unit.

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[Mohit]

Also maintanance charges are applicable from 40 days from offer of possession...

Even though we will not get the keys by that time....:(

When I asked the question "why it is starting before handover of keys..?"

The reply was "why you came on 30th day for payment...?"

Mohit Arora

Sent from iPhone

[vineet bindal]

Seriously? This is really bad attitude, They shouldn't be charging maintenance at all the club and parks are not even close to being ready, from what I have heard and seen on pictures.


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[vish...@gmail.com]

Why are they taking registration charges in advance. None of the builders take??

I guess registry will happen only after possession of all phases.

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From: Mohit <mohit2...@gmail.com>

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Date: Wed, 31 Oct 2012 19:15:34 +0530

To: 3c-lotus-...@googlegroups.com<3c-lotus-...@googlegroups.com>

ReplyTo: 3c-lotus-...@googlegroups.com

Cc: 3c-lotus-...@googlegroups.com<3c-lotus-...@googlegroups.com>

Subject: Re: Penalty clause to us.

[vineet bindal]

not sure if other builder take it later on, but What you are saying makes sense.

[vish...@gmail.com]

Yes other builders take later on.
Omaxe, Eldeco for sure.

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From: vineet bindal <vineet...@gmail.com>

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Date: Wed, 31 Oct 2012 09:50:04 -0400

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[vineet bindal]

There are way too many issues with 3cs. Its my first time experience with a builder and its disappointing, So many issues.

[Nitin Agrawal]

This can not be the case. They can not take the stamps now and do the registry later. Did any body got the registry done yet??

Secondly unless they give us the keys they can not charge any maintenance as we don't have the possession.

They give us 30 days for the payment what about them doing the registration and physical possesion ?

Guys come on we need to do something togather....

[Nitin Agrawal]

What do you mean by later on ?

[Nitin Agrawal]

They are acting like a Novice !!! Its frustrating...

[vish...@gmail.com]

When they are ready to get registry done in next one week.

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From: Nitin Agrawal <agrawa...@gmail.com>

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Date: Wed, 31 Oct 2012 22:14:58 +0530

[vineet bindal]

I confirmed with couple of brokers and they are saying usually builders do the registry later and there should not be any penalty for doing this, untill you have paid builder's amount,

Recently there was a builder in Noida who agree not to charge mentainance till park and club house was ready,
What this maintenance is for? when ther is not facility ?

[mohit arora]

Logically it should start from the day of handover.

 

But, they have taken 3 months advance maintainance charges so they can start as per there wish.

 

Cheers,

Mohit Arora

[Nitin Agrawal]

Not really Mohit. I still have some confidence in 3c and they will not do such wrongdoing.....but lets see

[Yogesh Dhingra]

I guess a visit to lotus boulevard shows that there's a lot of detailing in place around towers that are ready (let's give credit to 3c where it is due).  I am sure that takes money to build and maintain as well.  So it will be a little unfair to say that there's no maintenance required as long as club and facilities are not ready.  

At no offence to any one, I personally will be happy to shell out "some" money to ensure there are no betel (paan) stains around stairwell bends and dhool-mittee outside every flat just because we think we can live without maintenance.  Yes, it has to be reasonable .. but I will also agree with the logic of 3c that economies of scale will kick-in when fully occupancy has happened in the complex.  

We can try to get somewhat more realistic here, I guess.  

On Wednesday, October 31, 2012 10:20:28 PM UTC+5:30, vineet bindal wrote:

I confirmed with couple of brokers and they are saying usually builders do the registry later and there should not be any penalty for doing this, untill you have paid builder's amount,

Recently there was a builder in Noida who agree not to charge mentainance till park and club house was ready,
What this maintenance is for? when ther is not facility ?

On Wed, Oct 31, 2012 at 12:44 PM, Nitin Agrawal <agrawa...@gmail.com> wrote:

This can not be the case. They can not take the stamps now and do the registry later. Did any body got the registry done yet??

Secondly unless they give us the keys they can not charge any maintenance as we don't have the possession.

They give us 30 days for the payment what about them doing the registration and physical possesion ?

Guys come on we need to do something togather....

On Wed, Oct 31, 2012 at 7:18 PM, <vish...@gmail.com> wrote:

Why are they taking registration charges in advance. None of the builders take??

I guess registry will happen only after possession of all phases.

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From: Mohit <mohit2...@gmail.com>

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Date: Wed, 31 Oct 2012 19:15:34 +0530

To: 3c-lotus-...@googlegroups.com<3c-lotus-boul...@googlegroups.com>

ReplyTo: 3c-lotus-...@googlegroups.com

Cc: 3c-lotus-...@googlegroups.com<3c-lotus-boul...@googlegroups.com>

Subject: Re: Penalty clause to us.

Also maintanance charges are applicable from 40 days from offer of possession...

Even though we will not get the keys by that time....:(

When I asked the question "why it is starting before handover of keys..?"

The reply was "why you came on 30th day for payment...?"

Mohit Arora

Sent from iPhone

On 31-Oct-2012, at 6:26 PM, vineet bindal <vineet...@gmail.com> wrote:

That is what I was thinking, in fact that is what I was told by dealer when we bought our unit.

On Wed, Oct 31, 2012 at 3:22 AM, Ashish <writetoas...@gmail.com> wrote:

Hi All,
I was not aware to wanted all of us to be aware of.

If we don't submit stamp paper and other documents within 30 days from date of possession offered then we are liable to pay 5Rs/sf per month penality.
I thought differently, that they want their final amount (excluding stamp paper) within that period but i was wrong.

--Regards,
Ashish Gupta

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Regards,
Vineet

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Vineet

[neeraj....@gmail.com]

i spoke to 3c yesterday and they told me that for those who sumitted docs and stamp before 27th oct, paper for sub lease deed are already submitted to noida. They will call each one within 2 -3 days provided noida does not delay. I personally believe if 3c had to give posession without registry then they would not have waited for 1 year. So news that 3c is taking stamp now and will register only after complete complex hand over is most likly false. 

[Yogesh Dhingra]

I support this thought process. There's always more to gain by establishing a relationship based on trust, but also need to constantly encourage the other party to work with intensive reciprocal goodness.

On Thu, Nov 1, 2012 at 6:44 AM, <neeraj....@gmail.com> wrote:

i spoke to 3c yesterday and they told me that for those who sumitted docs and stamp before 27th oct, paper for sub lease deed are already submitted to noida. They will call each one within 2 -3 days provided noida does not delay. I personally believe if 3c had to give posession without registry then they would not have waited for 1 year. So news that 3c is taking stamp now and will register only after complete complex hand over is most likly false. 

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[Vikas Kapoor]

Trust with builder can only be established if they are transparent in their dealings which somehow is not the case. Why doesn't the builder come clean on the way he is calculating the area of the apartment and the area for which he is charging the residents. It may be a minor issue for some but will impact all of us as we do not know what we are paying for. 

Vikas Kapoor

Sent from my iPhone 4

[Yogesh Dhingra]

Yes, Vikas.  The issue you have pointed out is not a minor one. Hits us all in our face.

[Mohit]

Hi,

I am willing to rent out my 2 BHK Apartment in Omaxe Grandwood, Sector 93.

Swimming Pool and Park Facing 2 BHK apartment available for rent in Regent B with complete woodwork(wardrobes + modular kitchen + Bathroom Cupboards)

 

If anyone is interested then please get in touch with me at mohit2...@gmail.com.

 

Thanks,

Mohit Arora

+91-9871087000

+91-9818591000

[vineet bindal]

No offense to anyone. But I dont get it, People invest lakhs or Rs, and then rent their apartment for 14-15K per month?Even FD would have given better returns. This does not make sense to me.

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[Sudheer Silotiya]

Just a quick reply.. If you bought a property for investment the appreciation on good property always beats FD and getting the rent is just additional income ... 

Thanks,

 

Sudheer S

[vineet bindal]

This case WAS valid, I dont think its valid on properties like, LB and Omaxe Grandwood where people are spending Lakhs of money and then thinking to rent it.

someone will be spending 3 laks just on registry and then a lot on interior and then u can rent it for 15K.

Imagine If u can get out of this property before registry and invest somewhere else, basically u r saving somewhere between 3-4 laks. The discussion can go on and on. But its useless to register a property of 60 laks to rent on 15K when u know u can invest these 60 lakhs somewhere else and get much more return.

[Vikas Kapoor]

It is the appreciation of the property over a period of time which attracts everyone to invest in property. The rent takes care of EMIs. 

Vikas Kapoor

Sent from my iPhone 4

[vineet bindal]

Anyone who says its takes care of EMI and all , seriously ? How much is the EMI of 60 lakhs ? only interest would be close to 50K. how it takes care of EMI?

There are 2 type of investors for projects such as LB.
1. Quick investors-- buy units as soon as they are lunched on prelaunch price with discount, sell it off as soon as u an , earn 2-3 lakhs each unit.(use to be the case in Gurgaon, still is the case in good projects)
2. Long term investors -- study all projects and choose best one according to experience and wait till its ready for posession. sell it of before registry and move on to next project.

Buying a unit in this development scenerio in India and putting it on rent on these prices, Does not make sense.

[Vikas Kapoor]

It takes care of EMI to some extent. Also your analysis is valid but how many come to know of prelaunch of new properties. FYI,  ATS who are launching their property in Sector 150 are asking for 90% of BSP at the time of booking (prelaunch stage) so that speculators are kept away and only genuine parties come forward. Also many builders do not allow transfer of properties till 25-30% is paid by original alottee. Hence it is a complex game. Making money in property is not that easy. It is cumbersome. 

Vikas Kapoor

Sent from my iPhone 4

[vineet bindal]

I have made the point I was trying to make. I never said its easy. Rest is up to people its their money.