Indiabulls-Greens – 2700 psf-18 Lakhs-685 sq ft-Medavakkam-Sholinganallur road
| First, Let me hope this is not another Purva windermere in making. Its is know fact that Indiabulls is facing cash crunch with stock market taking a severe beating. I am not sure if this is game plan to just extract precious liquidity from people and use it for their own means. |
Hope people learnt a lesson from purva’s. Is it a good idea to cancel Purva,DLF and buy this???. All i can say is ….’WISH YOU BEST OF LUCK’
Coming to point, Indiabulls has started a new project in OMR,- Greens starting 2700 sq ft. Off Omr,Medavakkam-Sholinganallur road. Details are as below.
We are excited to offer a prestigious residential project with budget starting as low as INR 18.5 Lakhs* just near the ELCOT SEZ, off Old Mahabalipuram Road , Shollinganallur.
As a special inaugural offer, the subject site is being offered @ INR 2700 Per Sft** with no elements of preferential floor raise in the higher floor levels.
To avail this special invitation, do write into us / call for the Project teaser.
Looking forward to hear from you on your interest in the subject property
Project details:
· Total project spread over 15.9 acres
· Total 37 blocks with G+6 floors, 4 flats per floor
· 1, 2 and 3 BHK flats (685 sq ft to 1615 sq ft)
· Each block has 2 lifts servicing 28 apartments
· Total about 900 apartments
Project USP’s
· Designed by world renowned architect – RSP
· Most flats Vaastu compliant
· Vehicle free podium, all parking in basement
· More than 70% open and green area
· 75% of apartments with no common walls
Amenities:
· Gymnasium, Health Club,
· Swimming Pool, Childrens Play Area, Landscaped Gardens
· Indoor games, Security CCTV.
· Space for Creche/ Play school, Health Centre, Supermarket.
Pricing details
Basic Selling Price (BSP) Rs. 2700/sft Rs.
2710 / sft for 4/5/6th floor Preferential Location Charges: Rs.50/sft
Covered car Park Rs 2,00,000
Club Membership Rs 75,000
E.B. / Water deposits Rs 50,000
Maintenance Rs 25 per sq ft for 2 years Reg, VAT and service tax On actuals
Booking details
Booking amount:
1 BHK apartment: 1.5 lacs
2 BHK apartment: 2 lacs
3 BHK apartment: 3 lacs
Cheque needs to be drawn in favour of “Selene Estate limited-Chennai” .(who are they????)
Payment schedule:
Within 30 days of booking- 15% less the booking amount
Remaining 85% in installments linked to construction progress.
seriously wil this project be started . when are they launching . Looks like they are dragging it
Has approval been got? Do they have apartments without floor-rise? this can give idea of unsold inventory and can indicate scope for any fall in prices.
Thanks folks.
Silent for a long time…
i guess IB has increased the no. of towers from their initial plan and for those who have booked in the early stages might notice that the UDS will come down for them.
Also they have changed the floor plans (i don’t know for what reason) and now it is not Vastu complaint !
Really it was a surpise as they have changed the utmost basic spec which is the floor plan, with out even informing the guys who have booked already !
Do anybody have noticed the above two ??
I am interested in a flat here. Can anyone pl. advise – vishnarayan@gmail.com
Hi,
I’m a chennaite by heart living in France. Am hoping to buy some real estate in my home town. Was interested in the IB project, now though am having second thougts, mainly after reading all the posts in this forum. I see that there haven’t been any new posts since may. Can anyone , especially people who’ve already bought flats here share your thoughts on how this project’s evolving? Thanks.
Hi,
I am planning to book an apartment in India Bulls Greens. They still haven’t got the approval. They said it is expected around mid of September. Is it a good choice to book an apartment in IB?
EVen I am planning but the approvals do not seem to be coming anytime soon. Spoke to my bankers and they said stay away till the approvals are got. The company doesn’t seem to have financials right. We may be in soup. Need some reliable info,.
This is what they have beeen telling last 6 months, we gonna get approval within next 15 days…….., Regarding cmda approval I called up two marketing people , first one said they have got 4 out of 6 clearance and other said 5/6.
Let us hope for the best.
visiting the site after long…. surprising that this is still dragging…
Am waiting for any news from fellow-boarders who might have booked already. Any idea what price they charge now? LN Mittal is a partner with IB Real and hence they should be reliable once govt approvals are in place…
when the approvals come, maybe price is gonna be much higher? How far is this location from Doshi Utopia?
Its better to stay away till the approval in place also yesterday the RBI came up with new regulation for builders they are required to tell how they are going to finance the project is any of the property is going to be leaned for developing it etc. so with this new rule we can get better idea about the builder and project in general.. its better to stay away for time being till things are more clear
Hi
i am thinking about buying a flat in India Bulls Greens in Panvel, Mumbai. I am wondering whats the status of this chennai project, have they got approvals ? Or is it dragging on ?
Times of india article
Buying home to get safer, new real estate bill mooted
Mahendra Kumar Singh, TNN 26 September 2009, 01:09am IST
NEW DELHI: The aam aadmi looking to own a piece of real estate might be able to breathe easier. The possibility of being hoodwinked by a
smooth-talking builder or salesman might be reduced sharply as developers will soon be required to post project details, including civic clearances, on the website of the real estate regulator.
This should also reduce the chances of honest property buyers being duped by developers hiding behind terms like “super area” and fine print about various “charges” to conceal actual floor area and the final costs.
The model Real Estate (Regulation of Development) Bill has been long awaited and states are expected to legislate in keeping with the detailed provisions of the proposed law. They will also set up regulators to give effect to the bill which even recommends a three-year jail term or penalty which may amount to a percentage of project cost for failure to register.
The law to regulate real estate developers will call on builders to provide details of the number and size of plots, layout plan, carpet area and plinth area of flats, apartments or any other housing complexes.
Importantly, it will prevent builders from changing the plans or inserting charges as the sale agreement will be considered binding. They will also post authorised brokers and dealers.
The legislation will prevent advance payments being extracted from buyers without a written sale agreement containing project timeline, payment details and possession date. The promoter will not be able to cancel the sale deed unilaterally. If there is sufficient reason to do so, a notice will have to be given and the money paid will be returned with interest fixed to bank rate. The promoters would furnish a bank guarantee equal to 5% of estimated cost of projects.
The proposed bill mooted by housing ministry, a draft of which has been circulated to all stakeholders, has asked promoters to submit the details of approval and sanctions from civic agencies and bank guarantee furnished.
The draft bill has maintained the power of civic agencies to approve the project. It will be the responsibility of the developer to give information to buyers relating to nature of the title to land, layout plan sanctioned by local authority and plan of development works. The big advantage of the law would be that civic agency details will be given to the regulator.
The developers also cannot hide the “actual living space” they are offering to buyers as they have to distinguish the carpet area, super area and common area along with the plan and specifications of
apartments.
The consumer can ask promoters to spell out the details of common services like supply of electricity, water, sewage and drainage, lift, light in passages and staircases, sanitary services and fire-fighting instruments in the project. And if developers fail to provide these services, consumers can approach the regulator, which can also take suo-moto cognizance and inquire into the matter and pass order as it may find necessary.
If there is any deviation from the advertisement, the promoter has to compensate buyers for any loss due to false information. In case of pulling out of a project, the builder has to return the money with interest at a rate not more than current rate.
The buyer can also directly apply to local body for occupation certificate if the developer is delaying even after completion of the project and the cost incurred by the allottee will be recovered from the promoter. After a sale agreement is concluded, the builder will not be able to mortgage or create a charge on plot or apartment without written consent of the buyer.
Have any one attended their recent meeting and wat did they say abt the approval?
Is buying property from India Bul a safe option? What about the progress of their various reaidential projects all over the country? What about their India Bulls Green Panvel project? Have commercial banks approved any of their projects for housing loan? Is there a similar blog discussing India Bulls’ Panvel project? Havr they really sold most of the flat that they claim? Initally, they said that the price is fixed at Rs.2,200 per sq ft for the first 50 flats. How come the price is still Rs.2,200 when almost all of their flats are supposed to have been booked? Why has the peridicity of mails declined? WHat is the general consensus emerging about the ethical practices in the real estate sector in general and India Bulls Real Estate in particular?
Regards
Visnu
Visnu
They had a successful meeting and gave compliments for Navartri sweets, followed by half page AD came in The Hindu. This is a very GOOD LOCATION with the price reasonable. One big advantage with IB is they have plenty of sweet water, where as all the OMR projects (including DLF)lacks in this aspect and they have only SALTY and SOUR water which cannot be used for even washing clothes.
people have to be reasonable. Any project of this kind will take a period of one year to get approval. They are not hiding anything and they told the approval will be obtained by jan 2010 and by “Thai masam”, they will start the pooja.
this one should be really good compared to others like DLF, Bolllennei hillside, L&T eden park, TVH, Opaline etc etc.
On November 1, 2008, Kamali writes that India Bulls Green Chennai project will have the approval by March-April 2009. A year after, on October 10, 2009, REALM writes that the approval would be obtained by January 2010. What was the inital deadline for the date of possession of the Chennai project? What is the latest deadline? What %age of the payment has been made so far? What inference can one draw about the India Bulls Green Panvel (Mumbai) projects?
On November 1, 2008, Kamali writes that India Bulls Green Chennai project will have the approval by March-April 2009. A year after, on October 10, 2009, REALM writes that the approval would be obtained by January 2010. Interesting!
planning to buy an apartment in chennai , location – OMR.
friend of mine suggested Bollineni – OMR . ANYONE BOOKED AN APARTMENT HERE. YOUR COMMENTS WOULD BE HELPUL.
All these mega projects will be ready for our children when they grow up or our grand children. If one has that much time to wait, then these are good investments. And after all there is no guarantee for quality, infrastructure, full completion and all these factors.
I got a call from Indiabulls yesterday that they got all the required approvals including CMDA approval. It seems the Model Flat is under construction and would be ready by Nov’09 end. The project is expected to commence by Jan’10.
I have booked a flat in Indiabulls Greens in Panvel. It was promised that the approvals would be in place by October end. but till now there is no clarity. Repeated emails also do not elicit any response. i did not expect this from a listed company like Indiabulls. if anybody has any update plese do share info
Bollineni Hillside seems to be a better option at present with the prominent schools coming within the Township plus the PSBB which is already operational within DLF Garden City.
I talked to IB guys only last week. They have received NOC from all the departments 5/5 and they have submitted them to CMDA for the final approval. As far as I know they have not received CMDA approval yet. They are expecting somewhere in the mid-Dec and once they get the approval they are planning construction from Jan 14 or 15th after Bhoomi pooja.
what is the latest price quoted?
I heard, Bhoomi pooja took place last week.
I saw an ADVT for Bhoomi pooja sometimes in Jan’2010.. Has there been any progress after this?
Hi, can anyone tell me what the latest update/status is on this project. Has work finally started on site?
thanks
rashii
Now they started construction after bhoomi puja and increased the price to RS 3300 per sqt now.
Hi, Planning to but a flat at IB. Anyone enquired about the current price? They told it 3200/sqft.
The price is still Rs 3000/sq.ft. This is what the maketing people told me on 20th feb 10. But the size of the 2bhk model apartment (1050 sq ft) being readied there is too small. the carpet area looks like somewhere around 700 sq ft. only.
Why the approval is delayed so much ? Why they say that the check should be in name of “Selene Estates Private Limited Chennai” ?
Hi,
fyi.. the rates at IB Panvel are still stagnant at 2900 psf and no work has been started as yet
Hi
I recently booked a flat in IB-chennai property. The squarefeet rate is 3200. Seems still waiting for the approval & will start the work from May-10.
Indiabulls – Greens Chennai project started but now again they changed design and sq. ft size ? Originally 1BHK started with 685 sq. ft Now it shows 865 sq ft ?
hi guys..the indiabulls panvel buyers have a forum on http://www.indianrealestateforum.com/mumbai/t-indiabulls-panvel-greens-7574/page49.html…it would be good to connect with them as some of their problems are same as ours.
There are lot of changes in the Agreement and construction Plan. Kindly check all the terms and conditions before sign anything.
Hi, I had booked a flat long ago and only now the construction and purchase agreements have been shown. I find them totally one-sided and am fighting to get them changed. Is anybody else in the same boat? @Rashii – there’s a forum indiabulls-greens@commonfloor.com – just joined it. Full access apparently only after verification – so don’t know how many people are already members there. It’s definitely a good idea to have a forum.
Hi, I had booked a flat long ago and am now going through the construction and purchase agreements. Is there anybody in the same boat? There appears to be a forum: http://www.commonfloor.com/indiabulls-greens-chennai/povp-j124a6 – is anybody a member already?
can anyone give me the details of Indiabulls Greens chennai owner’s group.
Hi, Like to take feedback from those who had booked the flat at IB Greens Project Chennai. I’m looking for a 2BHK here. what’s the rate per sq.ft now ? Is the model flat ready ? How much is the carpet area % ?
Is it worth investing ? How about the locality near by and how about Ground water ? Is the water getting stagnet during rainy season ?
FONE THROUGH iNDIA BULLS’ Panvel project in Navi Mumbai. although they have not started aby constaruct as of yet but I was told that the first phase of 700 fltas have already been sold out & the 2nd phase booking is currently on.
can anybody comment on the status of their approvals & process/ transperancey of dealings.
Recently i had been to Chennai and visited the site. it is intimated to me ( verbal ) that the Tower A1 plan is not approved. India bulls revised a plan , which is also yet to be approved. The revised plan is entirely a changed one. It has only 3 flats in each floor against the original plan of 4 flats. These India bull guys at Chennai started allotting Tower A1 arbitrarly of their own to all concerned. On what basis only God Knows. There is no official intimation to those who have booked in Tower A1. i talked to Mumbai customer care also, but no positive response and the response from Chennai is too evasive and arrogant. Unprofessional approach and again we have been taken to ransom.