Payment Schedule for Villa

[Girish Lakshmanan]

Hello everyone,

Can anyone send me the correct payment schedule for Villas please ?

They have sent me a payment schedule demanding another 30 lacs which would take my total payment to 50%.
I still haven't registered & Construction has just begun - Why would anyone pay 50% ? I think they are trying to rip me off.

I have attached the payment schedule they've sent . Can someone verify and tell me if that looks correct please?


Thanks

[Villa_buyer]

Hi,

 

Sorry I could not help you in this issue. I heard that the for recent buyer the payment plan have changed. I booked on June 2012, and payment amount  is equally divided into 24 installments, excluding 10% down payment + 2 lakhs booking amount.

 

Please find the attachment.

 

Thanks

Ashwin

[Girish Lakshmanan]

Thanks Ashwin. That was useful.

[RKS]

I got a similar payment request asking for 50% -- I was wondering
whether I can negotiate to get back to 20% and 24 equal installments
instead.

What happened is that I visited the location in December -- and met
Shoba. At that time what I remembered is the payment plan of 20% plus
rest in 24 equal installments.
I worked with Shoba over e-mail to select a villa and finally got a
villa booked (sometime end of Jan, early Feb) -- for which I sent a
payment in the amount of 2 lacs immediately.
After this, I didn't receive any communication from them till around
April -- when I got a payment request for both 1st & 2nd installment
close to 50%.

I was planning for a payment plan of 20% + 24 equal installments -- so
now I am kind of a in a bind to figure out how to arrange for
additional 30%.
I was wondering whether it is possible for me to negotiate the old
terms -- Thoughts/Suggestions?

Thanks
RKS

[Girish]

I'm in a pretty similar situation Raja. I'll speak to them today to see what we can do.

I'm pretty sure that folks paying through a Bank won't be paying 50% upfront as the Bank won't release funds without equivalent construction progress. I am going to cite that as a reason not to be paying such a big percentage upfront. Can anyone paying through a Bank please share how much the Bank has paid so far in terms of Total % ? Has any Bank paid more than 30% of total value so far ?

Your help is much appreciated.

Thanks

Girish

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Regards,
Girish Lakshmanan

[RKS]

Thanks Girish for the quick response.  Please do let me what you find out --  how much have you paid so far?

 

I am holding a bit on sending the 20% amount -- to get some more clarity on what flexibility I have in getting the payment terms adjusted.

(I didn't even receive a proper payment schedule like the one Ashwin has attached -- I have been asking them to send this).

 

From what I understand that once you pay 50% -- the plot of land will get registered first.

 I don't know if Pacifica is trying to get all the plots registered first -- and whether this makes a difference for the banks.

 

Thanks

- RKS

[Girish]

Hi Raja

I have paid 22L so far. 

Spoke to a lady called Nirmala at Pacifica this morning. She did acknowledge that there is some confusion amongst a small number of villa buyers; Apparently, Pacifica revised payment terms for villa purchases from the month of January - and in true Pacifica style - did not bother communicating it to buyers. More pertinently - the bad news for us is - and I quote Nirmala here  - other buyers in a similar situation have tried and failed to convince Pacifica to revert back to the original payment plan.

I was in India in December and I signed-up for the property with associated terms applicable at the time. At no point was I made aware of any change in terms and it has come as a complete surprise to me(when I first saw an email from Pacifica in April). Unfortunately, I cannot afford to pay by these new terms and it looks like I have to cancel the purchase. I hope they don't retain any cancellation fee as a result of this. If they do - then I will have no option but to sue them.

Let me know if you have any ideas/suggestions - I am a bit stressed out by this whole thing.

Just a word of caution to others in this forum - though most of you may not be affected by this particular issue - this is a good indication of how Pacifica treats its customers and how they bend rules to suit themselves. All I can say is - beware!

Best Regards

Girish Lakshmanan

[RKS]

Hi Girish

I spoke to Nirmala as well last night -- she said the same thing to
me, my official booking date on the record is apparently after they
changed the rules --so she can't do much -- she is asking me to follow
up with Shoba.
I am also stuck if I have to come up with 50% in a short time -- the
April letter took me by surprise.
When I talked to Sangeetha previously -- she was encouraging me to
send the 20% amount at this time -- while I sort out the rest of the
financing - so I have started to transfer some initial amount.

I suspect cancellation is likely going to be a pain as well -- if you
are indeed planning to cancel, do let us know how it goes.
Ideally -- I would like to not cancel -- but push for getting some
relief on payment schedule -- i.e. maybe extra time to come up with
the rest of 30%.

I do like what Aurum has to offer -- I had looked at a bunch of other
villas nearby such as Olympia Panache, bollineni hillside, the
Village, in other places such as Bougainvillea. I also did some
research on villas in ECR.
Of all of them - I found Aurum to be ideal for what I was looking for
-- location, access from main road (OMR), villa in a closed community
with amenities that match/rival what you get only in Apartments/Flat
-- and decent price (personal opinion).

My impression about their customer service is -that their
communications are not very streamlined/well managed. But I have been
fairly successful in getting hold of them over phone fairly a number
of times over the last couple of months-- although any follow up
usually gets lost. this is partly the reason my booking got delayed
quite a bit. I also get the sense that the sales/customer reps are
not fully empowered to make decisions/adjustments -- for most things
they have to follow up with Ahmedabad office, so things take time to
happen.

I will try and talk to Shoba again today--

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[Girish]

Thanks Raja. After a lot of thought I have decided to cancel. It's not worth the hassle.

I've been trying to get hold of Sangeetha/Samuel to discuss cancellation/refund but I've had no luck so far. It has generally been a nightmare dealing with this company(maybe its just my experience!)

Will let you know how I get on.

Thanks

Girish

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Regards,
Girish Lakshmanan

[RKS]

Thanks for your response, please do respond back on how your cancellation process went.

Thanks
Raja

[r...@ngsysstore.com]

Girish, Were you able to cancel/transfer. I am thinking of the same now. Let me know if they agreed for it.

Rajesh

[RKS]

Girish

 

If you are checking this -- it would be very helpful if you can give us an update on where you landed.

 

Thanks

-RKS.

[Girish]

Hi Raja

I'm still in discussion with Pacifica - I'm hoping to get an answer pretty soon.

I'll let everyone know the outcome.

Rgds

Girish

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Regards,
Girish Lakshmanan

[kavittha...@gmail.com]

Hi Girish & others 

Please let me know , if you still in an idea to cancel and will prefer name transfer. I am looking of 4 BHK/5BHK villa , if available for name transfer/sale. 

with best regards

Kavitha

[Anonymous]

Kavitha, Why dont you approach Pacifica itself. I heard some Villas are still available. Are you looking for old price ?

[Anonymous]

Girish, any updates ?

[Girish]

Tried to cancel without luck - they said I'd be liable to pay 10% as cancellation fee. So I gave up and paid them as per the new payment plan. I was considering a legal challenge but don't have the time or energy at present. 

Rgds
Girish

[Anonymous]

Oh is it. Thanks for the update. Did you try for a transfer. Is the 10% fee applies for transfers also ?

[Ramesh]

[Anonymous]

    Why ?? Did u purchase pre or post price change and what price are u expecting. villa details and price please. my friend might be interested.

On Friday, February 20, 2015 at 9:14:37 PM UTC-6, Karthik wrote:

Hi

I am looking to Transfer my Villa. I have paid in Full. Let me know if anyone interested

Thanks