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.
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now d price of ib is 4500 per sq ft
is it goo to invest in this project at 4500 sq ft rate?? pls give advice someone for this???
Hi i am planning to book an house in Phase 3 in Chennai, any advice has anyone booked a flat in Phase 3 and what was the price offered to you. Mine is 2800 its in pre booking stages. Please let me know @ vasan_4u@yahoo.com.
hi vasan,
just booked 3 bhk in phase 3.sq.ft rate is rs. 2900.upside revision is a possibility,that’s they claim.
Hi..i’ve booked an apartment in phase…2 weeks ago when i contacted the Indiabulls they told me 2800/- but it seems from last week prices have been revised and i had to book at 3100.
Never ever go to these guys. I went for a visit yesterday to check out the status of the flat myself directly. They are really arrogant in the way they speak and dont show any courteousness. The only answer I get is that both phase1 and phase2 are fully sold out and I can pay 1 lakh and book for phase3. On further digging, figured out that, they are planning to construct 19 floors in phase2, but has got approvals only for 6 floors. They are expecting to get approval in next 6 months. In phase2, they say, only 4BHK is available and everything else is sold out. This is a blatant lie as they are really covering up something. Even phase1, which is supposed to get completed by end of this year, looks no where near completion and would easily take couple more years.
They say, phase2, I can book 4BHK and they will start construction of 6 floors and later when they get approval, will go and complete the rest of the floors(total 19 floors). After handing over the 6 floors in the same tower, not sure how they will continue the construction from 6th floor onwards.
The reality seems to be that they will take atleast 2-3 years for phase1 and another 4-5 years for phase2.
I have booked a flat in Chennai Greens Phase 1. at the time of booking the comitments made by the builder were different what I received in Agreement copy and when I argue to refund the complete amount tehy simply denied and said we cannot refund. anyway I agreed to go ahead with flat as I have no other option. now I asked for tentative construction plan again they said it is our policy to not to share the plan and tentativly it will be completed by Sep 2011. looking at the progress I know it is not possible. i don’t know what is going to happen when they actually handover the flat.
this is vignesh.. i have a plan… for guys who are planning to book in the future at india bulls… just mail me to vikkisimba@gmail.com … have booked it.. and i can help u with few stuffs..
its a mutual benefit.
Update : I visited the site yesterday and got the below info from them.
I believe they have raised the price of Phase 3 to 3500/-. Phase 1 construction is on full swing on and they hope to start handing over one by one from Janu 12.
Phase 2 approval should be coming anytime after election results are out.
I too enquired about phase1 & 2 and was told all sold out except for a few 4 BHK’s in phase 2.
Hi ,
This is venkatesh. I booked a flat in phase 3.
One week IB person called me and said, management has changed the decision and they will get the plan and approval at the same time(Dec 2011). And also they asked me to pay 20% if i want to retain the flat
Have they called any one of you who booked in Phase 3 and said anything?
My number is 9884054450.
venkatesh.prem@gmail.com
we would get more clarification if we discuss over phone. You can call me to the above said number.
Thanks
Venkatesh
hi
i have booked 2bkh in IB medavakkam in phase-3, can anybody give feed back about the project, bcz they asking 20% of the appt cost for the confirmation of the flat and also they are telling the IIIrd phase will be handedover by the yr2013 cot-nov, please comment.
ravi
Hi All,
I am one of the buyer at India Bulls Greens Chennai, I would like every buyer of this project to get in touch with each other to know what’s happening on our payment/investment. Please make use of this platform to share your information, views and concerns which will definitely help every ones hard earned money.
URL – http://indiabullsgreenschennai.blogspot.com/
Thanks
Hi
I am thinking of booking one flat here in phase 3. what is your take – should i or not?
Hi sujee…should i or not??? best person to answer would be you…
Hello,
I had a very bad experience with IB-green project at Chennai for Phase 3 project. While giving a booking amount of 1Lakh INR, it was stated by Mr DS of IB that the next payment will be scheduled after the approval of phase 3 (approx end of the year). Later I receive an email from DEMANDING 10%(!!???$$@@) without the approval and with in 90 days of my booking amount. When I sent an email asking for clarification on why they had changed the schedule, they never bothered to respond (I don’t live in India). It was only when I called DS, he said that it was my assumption on the next payment date. How can 7 family members approaching him on different dates make the same assumption on the date? Blatant lie from Mr DS. Their communication is bad and left lot be improved. No replies to my repeated email requests.
IB has implemented different rules and policies on this issue. An IB stall was put in my city, when I asked on why they should demand 10% before the approval, I was a given a reply that IB never asks for 10% before approval. It is sad to see such a reputed construction company dilly dally with their policies according to the projects.
I have cancelled my booking as I find too risky and communication too flimsy (even if I was getting it @ less than INR 3500/sqft). I would NOT RECOMMEND to go to IB and if at all you are, have everything in black and white so that you are not accused of assumption.
Good luck to those who are venturing into it!
!
I have booked 3BHK in Indiabulls – phase-3, and amount has been paid out by 10%. Can anybody give feedback about the current status? I would like get the periodic update of this project with each other to know what’s happening on our investment. Appreciate if could share the forum / blog to share current status / views / concerns. Thanks.
I have booked a flat in Indiabulls whenever I am calling for status or for any query the answer is “we need to check with head office”. I tried to contacted Customer care manager, she always says “please call latter as she is attending a Customer”. If I call latter her answer is very arrogant and say “don’t call, we will get back to you”, as usual no reply.
I have been to site as well and saw the progress is very slow. they have start working on phase 2 where as phase 1 is still not completed 40 %.
moreover now I have compared that their other charges like electricity, water, severage are too high.
Above all, they are charging Car parking charges of 2 lacs and as per legal and suupreme court judgement last year Sep, they cannot charge. asking on this these people says “we are waiting for head office reply as many people are complainting on this”. but when ever their is a demand of installment, they give hardly 15 days with a penelty clause of 18% of delay.
what rubbish…
I have booked a flat in Indiabulls whenever I am calling for status or for any query the answer is “we need to check with head office”. I tried to contacted Customer care manager, she always says “please call latter as she is attending a Customer”. If I call latter her answer is very arrogant and say “don’t call, we will get back to you”, as usual no reply.
I have been to site as well and saw the progress is very slow. they have start working on phase 2 where as phase 1 is still not completed 40 %.
moreover now I have compared that their other charges like electricity, water, severage are too high.
Above all, they are charging Car parking charges of 2 lacs and as per legal and suupreme court judgement last year Sep, they cannot charge. asking on this these people says “we are waiting for head office reply as many people are complainting on this”. but when ever their is a demand of installment, they give hardly 15 days with a penelty clause of 18% of delay.
Please help…
It seems quite a number of concerns encountered while chatting with IB customer care / sales executive. We should have a dedicated forum / thread to share all our pleasant / unpleasant experience which would really help us to watch current status of the project – Phase 3. Appreciate if could share the forum / thread to share all the customer views / comments.
I got to know that there are some 2 BHK flats in B&C Blocks of Phase-1 of India Bulls Greens, Chennai project released for booking.It seems these flats were earlier alloted to someone and they did not paid their step wise down payments. Hence after several intimatiions and notices these flats bookings have been terminated from the respective alloted customers and released for re-booking
Can anyone confirm if these flats are genuine and I can buy any of these flats.
Hey,
Do anyone of you know when Phase 1 will be handed over?
For people who had booked in Phase 1, has your loan bank disbursed the full payment to IndiaBulls? I have been facing an issue where IB hasn’t submitted some required documents to the loan bank and the bank has reserved the release of cheques (4th installment). However, Indiabulls sends intimation with 18% Late Payment interest to the customers. Is anyone else facing this problem? People who had booked Phase 1 should start a communication thread to get the latest updates. As per the previous intimation, Phase 1 will be handed over in Sep 2011. However going by the progress, I dont think it will be completed in Sep 2011. So will IB pay some interest amount to the customers for their delay? Please share your thoughts on this.
Hi,
Ive booked a 3BHK in Phase 3 in IB greens chn. I,ve been visiting the site periodically, the last couple of weeks the progress on phase 1 seems to be very good and bhoomipooja for phase 2 is being planned in this month. Subsequently I hope Phase 3 activities to begin and start construction somewhere in Dec’11 or Jan’12.
I too had some serious issues with the sales team at the start due to lack of any clarity on ph 3. When I started looking for other properties I couldnt locate any to suit my requirements (location, build quality, amenities, cost). The only projects were IB greens and Embassy residensy & purva windermere. The quality of Embassy residency as in their model flat is not even close to that of IB greens.
The down side is that i’ve booked the apartment without even looking at the plan. But I believe the bedrooms & bathrooms are as spacious as in phase 1 & 2.
The good point abt. IB greens ph 3 is that since the construction is to begin by end of this year and to go on for next 2 yrs. there is a very gradual strain in my finances which will be comfortable for me to manage my expenses and EMI…this additional 8-9 months from Mar’11 to the next payment for the next installment has helped me save some addnl. money, in turn bringing my loan amount down by almost 15% of original intended value.
And for Purva i need to pay almost 30-35% within 30-60 days of booking???not possible at least for me.
I really feel it a good decision even though I get my apartment ready by 2013/14.
Hope to see many of you guys in this forum as neighbours in couple of years…..
There are many people booked in phase 2 on last year, and they said project will start by Jan 2011. But still not started. And people are started cancelling their booking. Chennai Customer care is useless. Avoid booking with indiabulls. Or please check with ur friends who booked in Phase 2.
Hi ,
When i came to chennai two month before they said the booking for 3rd phase is on hold for now. Are they taking bookings… seems like many ppls are not happy with their response. Am planning to book a 3BHK when i come to India next month.
Can any one give me ur opinion onthe quality and othr things abt IB, are there any other twoship of similar/better standards, pls my contact me thru ranjiths26@gmail.com +65 90306703…
Cheers,
Ranjith
Hi,
I’d been there some time ago and was told 1-2 apartmetns in Phase 1 were available. When i checked today, i was told they are sold out. Heard from them that Phase 1 delivery will start in Mar’12. As far as phase 3 is concerned they are quoting Rs.3500/- per sft. Have to pay booking amount of Rs.2 lacs now and 20% less booking amount within 30 days. Approval for phase 3 is expected after 8-10 months only. Hope this helps
Prince, when, in fact 3 BHK apartments in Phase 2 are available, why should you go with Phase 3 with an even later possession date??? The Home Konnect folks told me that Phase 2 pricing is Rs.3400 as part of their special offer with IB when I was considering buying IB greens vs. Windermere. The approval they said was expected Aug end. So every way it seems a better buy than Phase 3. I however bought at Windermere with a discount from Home Konnect.
Hi Kishore…yes i have been told that 3 apartments are available in phase 2 at present..but i am going for phase 3 bcos i have to work out my finances…as i see it ..i pay 20% now and then no payment for 1 year atleast..hence i am going for phase 3. suits me..locking the price by 20% @ 3500 for phase 3…
Prince, if you have not booked yet, do check with Home Konnect about the pricing? From what they tell me they have a special offer (better than an individual price) with most builders including IB when it comes to bulk bookings.
Hi, I have been told that two 3BHK flats are still available in phase 2. Is it worth booking @ 3500/sq feet? They say planned start of construction in 2months time and completion in 24months from the start date. Trustworthy?
Hi All-
My name is senthil and I booked in phase 1 for 2bhk 927 sq ft and paid 10% of the amount on Oct 2009 for 3000 per sq ft. Later after 1 year when i approached them they said they have scrapped the proposed layout and phase 1 is all sold out.
Finally they forced me to book in 2nd phase with 1230 sq ft. With the rise in cost I was forced to opt for it.
thanks,
Senthil
9962589093
Aishy,
I believe you can get the apt at Rs.3400 per sq.ft. from Home Konnect. Did they tell you Rs.3500 or the builder??? The construction part I’m not so sure cos they have been telling that they would start construction for almost more than 6 months now. The completion timeframe is definitely not going to happen in 2 years going by their past record and the time taken for an MSB. Look at Phase 1 – 6 floors and 2 years! Hope this helps.
Hi Kishore & Aishy,Indiabulls is also offering the same price of 3400 only…so might as well go to the builder directly if you are interested… if you need amy names / contact numbers let me know
Hi Prince, I am also exploring the option of buying 3BHK from IB in phase 2, can you please let me know who should i approach to get 3400 per sqft? Please send me the details to s.saravana.prasad@gmail.com
IB has revised the price of its Phase 2 to Rs.4500/- per sft
Hi Prince,
Is this really true? Where did you get this information from? Is it a reliable source? How come they have increased in from 3400 to 4500 all of a sudden? It seems to be a very steep rise which is not believable.
Yes Saravana Prasad…the new is from the company guys itself..since i had already have a booking with them..one of the sales guys messaged me the rates have changed now..
IB have got approval for 19 floors and hence the price hike from 3400-4500.
I got a call today that they can offer me 1 flat still at old price..
agree they selling 4bhk/3bhk (remaining flats until lev 6) for the old pricing if you had visited them before price hike. anything above 6 is 4500rs per sq feet. But they are not consistent at all
Any updates on current pricing/construction-status?
Has anyone verified the 19-floors approval for phase-II??
Hi Pajat…they have not got the approval for 19 floors yet. I am told they have started laying the foundation for Phase-II (I have not seen it myself)…pricing no changes as of now..remains the same…
Hi Prince,
The foundation work was going on even two months back. At that time they were not selling above sixth floor in phase-II.
How come they charge Rs 3800 for Phase-II now, even with out approvals??
Appreciate if someone could share the status about Phase 3. I believe, IB has to furnish the approved plan by Dec’11 which is yet to be happened for Phase 3.
Pajat…i suggest you take a look at the site now and see if any changes in construction in what you had seen 2 months back & today. pricing is the builders prerogative and i really have nothing to comment on it..
can any one update the cdurrent status of phase1. actual schedule is march 2012.
Hi Guys,
I have booked a 3 BHK in Phase II at IB and had given 10% advance in Dec 2010. the rate was 3150 when I booked. But for the past one year they were telling they are yet to get approval for 19 floors. Today when I checked with them, they told the approval is expected in April and the completion would take March 2015:) They are telling that it is not IB’s fault and it is government’s fault. Who asked them to aim for more by expanding the floors from 6 to 19. They could have started the construction with the existing approval for 6 floors. Moreover Phase 1- 6 floor and Phase II-19 floors will look awkward. They said after approval they will start the bookings from 7th floor onwards @ rate 3800 /sf. God only knows what will happen to this project. It is quite difficult to cancel the flat also, bcoz our money got locked for more than a year and atleast we should expect some increase in the property cost to compensate that.
Hi,
I have booked a 2bhk in IB phase 3. I had a very bad experience with the customer care people where they don’t even reply properly. How can we proceed from here? Last time when I asked them they said that they have the plans to move the houses booked in phase 3 to phase 2. I wonder if this would also be one of their lies. Any one else have any updates about phase3. Please share.