Attention phase 2/withdrawal members

[Dr. Raghava Cherabuddi]

Hi

 

Please NOTE that this has nothing to do with Phase I. If any Phase I member receives this email who is not part of Phase 2, kindly ignore this email.

If you have received this email before, I apologize for the repeat email.

The phase 2 working committee has made some more progress with regard to refunds to withdrawal members and members who are interested in construction. In the last 2 months a team of phase 2 working committee met couple of builders and discussed various options which are beneficial to both withdrawal members and members interested in construction. The talks with the builders is an ongoing process until we get the best price/option for us. There are couple of more builders with whom we haven't initiated discussions yet.

Total land available: 6 Acres
Land after buffer zone:5.5 Acres(Approx)
Land for the proposed project: 5 Acres(0.5 Acre will be under Society’s possession)
The project is cut short to 5 Acres to avoid construction of houses for weaker sections and cut huge costs for us.

The proposal under discussion:
The builder would give 1,20,000 sq.ft. constructed space to the society in exchange of 5 Acres of land which in turn will be made into approximately  66 individual flats(considering 1800 sft units). These flats will be offered to Members at the rate of 1650/sft on first come first basis. This would fetch an income of 19.80 Crores which will be distributed to withdrawal members. If the society is unable to find 66 members, then the same flats will be offered to new members at the rate of 2200/sft or more based on the market situation.
Cost of 1800 sft flat: 1800x1650=29,70,000(Incl. 2 Car parking, amenities) No floor Premium!, Quality of construction will be at par with Aparna/Majeera etc.

Total Members for flats: 600(To our knowledge)
Phase 1: 240
Phase 2: 360
Considering 66 members take flats, the amount of 19.80 Crores will be distributed to 294 members.
Strip of land issue: Since Society has 0.5 Acre of unused land, part of this land will be exchanged with the strip of land and the offer for the same was given to CEWS to which we expect a positive response. Once the entire plan gets materialized, we take the opinion of majority phase 2 members and proceed.
 
From the builder view point, he gets a land to develop on with zero investment on the land. He will plan his apartment sizes, etc,. for his share according to his requirements. He is free to sell at any price he wishes for his share of the built up area. We are trying to find a win-win situation.

Till date only 180 Phase 2 Members have signed up for the spreadsheet that Anupam had mailed last month. We request you to kindly inform your friends/relatives who are in Phase II to fill up the spreadsheet with your preferences. 
 
We want all the phase 2 members to actively participate in the discussions for best results. Finally for any of the phase II members to talk to the builders, they need authencity in form of being on the EC. Till today we have been only seeing a proposal for a Tower 3 from the existing EC and nothing else. How will Tower 3 enable so many withdrawal members to walk out of the society.
 
There may be a poll to extend the current ECs tenure which I request all of you to oppose. I will send another email when the poll comes out. We also need some volunteers on this group to help and support on opposing the ECs tenure extension in the induscrest@googlegroups member forum.
 
thanks
Raghava

[Vamsee Chakka]

Thanks Dr Raghava for the details.

I'm in both Phase 1 as well as Phase 2.

While the details are interesting, here are few questions:

#1: What is the percentage of constructed area between the society and
builder? My main concern is that what if the builder crowds the
society with building too many apartments? More units will definitely
bring down the luxuryness of the society.

#2: Amenities block: Amenities block is funded from Phase 1
construction now. How will this be shared with Phase 2? To my
knowledge, Floor premium is going towards the corpus fund, with an
intention of maintaining amenities towards a goal of low or nil
monthly maintenance charges. What will be the sharing model (if
amenities are shared) with Phase 2 members if they don't pay anything
towards corpus fund?

#3: Lot of things changed since gestation of this project until now,
which caused members to change priorities. 66 units are about 18.33
percents of phase 2 members. What if the numbers are more pleasing and
if more members opt for construction, what is the leverage with the
builder to get more units at the same cost of 1650/sft? I have 2
units, one in phase 1, second supposedly in phase 2 withdrawal. What
if I opt for Phase 2 construction and ends up as 67th guy in the list?
(you said first come first serve)

#4: Strip of land: Is land swap for area of the same size? What is
stopping now for land swap? When Members are trying to withdraw from
the project, I don't think lot of members will be interested in buying
strip of land with an additional payment.

#5: I'm confused when you say project is cut short to 5 acres to avoid
construction of weaker sections. Isn't this one big single society?
Developed areas in both phase 1 and phase 2 will definitely be more
than 5 acres. If I remember right, current approvals are for the whole
project as one.

Thanks
Vamsee

[Ramesh Billapati]

Good questions Vamsi, we need to give some thought into them, for point #3 - finding 66 members for construction itself is tough task as per recent poll results, I believe we need to make some time bound decisions while we try to do justice for everyone in the society

I have one question

#1 What is per acre no. of flats in phase 1? it seems to be approx 50 flats / acre, where as phase 2 members it comes approx 75 flats / acre, how phase 1 EC allowed this? either they didn't care for phase 2 or they didn't think about it (these are approx calculations, if someone has exact calculations, please provide)

also,

     The style of phase 1 EC running the society is very corporate, it is not societal  in nature. Floor premiums, Price increases (they increased it to Rs 1850 after some cutoff date, festivals bonanzas (Rs 100 price decrease for remaining lower floor units)

    I strongly question their openness, no clue of how many new members joined (look at the allocation sheet you will so many new numbers, did you ever get communication saying so and so joined etc?). Divide-and-rule communication, at one point of time they sidelined all phase 2 members from phase 1 communications. Personal fault finding with members who raise  questions. In democracy it is better to rotate the governments else they become monopolistic (we are seeing signs of it). We are not even asking to completely get rid of the current EC but to give significant role to phase 2 members, no sane person will understand why they are against it

Regards,

Ramesh

[Vamsee Chakka]

Ramesh,
I'm not good at remembering numbers, if I remember correctly, current
developed area under phase 1 is 5 acres (is it 5.5 acres?) comprised
of villas in 1.5 acres, 2 blocks in 3.5 acres (or 4 acres) which comes
down to 68.5 apartments/acre (240/3.5) or it would be 60 flats/acre
(240 units/4 acres in the case of 5.5 acres for phase 1 area). For
Phase 2 area of 6 acres and 360 flats, it comes down to 60 flats/acre.
While I'm not taking sides as I have active interest in both phases,
it is Phase 2 working committee which is cutting short the Phase 2 to
5 acres making it 75 flats/acre, please don't blame current EC for
that.

Is the distro sees...@googlegroups.com only for Phase 2 members?

Thanks
Vamsee

[Ramesh Billapati]

Vamsi, 

Thanks for calculations. I don't want to blame current EC for no reason, that's why I was asking for data as I don't have it, if they have kept these ratios in mind, that's perfect, regarding phase 2 ratios, they just proposed it today, let's wait to hear more from them

Regards,

Ramesh 

[Vamsee Chakka]

FYI, to entire group.
Disclaimer: I'm in both phase 1 and phase 2.
Things that are discussed in this email impacts the whole society not
just phase 2.

Request to phase 2 members: There is no moderation to IndusCrest
distro. Please use the same distro instead of using SeeStar2. Phase 2
decisions does not impact phase 2 members alone, it impacts entire
society. Ultimate objective is to protect the sanctity of the society.
Not to offense anyone, phase 2 members only invested about 7L towards
land, but phase 1 members invested close to 40L in average for both
construction and land.

On Fri, Dec 7, 2012 at 11:19 AM, Ramesh Billapati

[SeestarPhase2 Phase2]

Dear All,
We would like to make it clear to every member of the society that
Phase II members are in no way going to disrupt the Phase 1 Construction.

Phase 1 and Phase 2 are separate Projects and it would have different timelines, floor Plans (Architecture) and HMDA Approvals.

Phase II Members need a better solution so that they get their investment back with some returns.
We had conducted a survey, 200 Plus members responded and the result was that more than 90 % are interested in withdrawal.
There are few members for Joint Development and Construction.

We have been in touch with the builder community and working out various options, few of which already we have put out. details are being worked out.
To Start with there are few reputed builders who are ready to build at a reasonable cost on a turn key basis and they are also willing to absorb the increase in cost.
The ground reality is that Land Rates are firming up and it would soon reach the rates at what we had paid as per shown in accounts.
This would help us to get a better deal from Reputed builders (Better Ratio) for Joint Development.

Since we have just started, we would take time put the proposals in detail before you.

We would not be deciding for you like the Current EC did, we would have a Poll with Analysis of the Proposals and the members of Phase II would Vote what is best for them making informed decision.

We would keep you posted on the developments.

Regards,

Phase II Wkg Committee.

--
SEESTAR2 Group is the Group to discuss how to get our hard earned money back. What are the different options we have. We need to look at all the options and decide what's best for us. We need to actively involved in the taking the right decision
No one would look after our interest, it s we , the members of phase II who have to take the initiative and take the best possible road ahead. Hence please do check all mails related to our interest and attend meetings and make our presence felt.
---
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[Vamsee Chakka]

Disclaimer: I'm in both Phase 1 and Phase 2 withdrawal.

Please identify whoever is in this so called Phase 2 working
committee. (seestar2wk...@gmail.com)

Please stop saying this does not impact phase 1 members, may be
whatever that is being done will not impact Phase 1 construction but
please do realize that Phase 1 members will have to live for their
life with whatever decision that Phase 2 working committee makes.
While majority of phase 2 members want to leave, Phase 1 members
committed their life savings to realize their dreams.

Whether one likes it or not, SOCIETY IS ONE even if phase 1 and phase
2 has different timelines/floor plans/architects.

I do respect your contribution in what you believe but do it more
openly. Nobody is restricting you to use Induscrest group for open
communication to all the members and stop this Akasha Ramanna
nonsense.

To me, spinning phase 2 into a separate society seems to be the only
viable solution. No strip of land issue, no sharing issue with
amenities and corpus fund etc.

[srilatha vuyyuru]

hi Everyone,

phase-II can have better architecture. Good ventilation, parking lot design. please plan on improving the current architecture. 60 - 70% open area is possible with the available space while all members get one flat. All recent construction projects in the Gachhibowli area are having good amount of open space.

 

Thanks

Srilatha

[SeestarPhase2 Phase2]

Hi Srilatha,
Thanks for your suggestions. Most Welcome.

I agree all recent constructions by reputed builders like Aparna or MYHome have good amount of open space.

Four Flats in one Floor like in Aparna Sarovar is a good design to review which offers pretty good ventilation and light.

If we have good design with good open space, it would be would fetch good returns too in the future.

We are currently reviewing all options with  different builders and this is at a very nascent stage as we need to work out refund options for withdrawal members, it is going to take a while to shape this up depending on market conditions.
We would keep you posted on this.

Regards,
Wkg. Committee Member