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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I believe this is authentic. Indiabulls is known for it’s aggressive price and execution. They are constructing 50 lacs sqft of commercial office space in central Mumbai whereas other biggies are still at planning stage.
I have visited their project site and hoarding was put almost about 3 months back. This is nothing to do with stock market meltdown. They are known for fast planning and execution without too much of noise and publicity.
Hope this will come out really well!!!
Where is this located?
Medavakkam Sholinganallur road is where TamilNad hospitals, Sadakk college is there.
But the ad tells behind ELCOT??
Where is it located exactly
Indiabulls to start two housing projects in Chennai
——————————————————————————–
Mumbai-based Indiabulls Real Estate, through its wholly owned subsidiaries Selene Estate and Fama Land Development; acquired two housing projects in Chennai
Selene Estate, a wholly owned subsidiary of the company, entered into an agreement to acquire 50 acres of land to develop a residential project at Jalladianpet, a suburb of Chennai.
Fama Land Development, a wholly owned subsidiary of the company, entered into an agreement to acquire 241 acres of land to develop a residential and commercial project located near National Highway 5.
Further, the company, through its wholly owned subsidiaries, acquired 396 acres of land in Panvel, near Mumbai, to develop large scale residential projects.
Indiabulls Industrial Infrastructure (IIIL) a wholly owned subsidiary of the company is in discussions with MIDC to finalize its stake in the joint venture, for development of a multi product special economic (SEZ) at Nasik.
The company`s received Rs 2,644.9 million from Ariston Investment and Rs 1,728.9 million from Ariston Investment towards the sale of equity stakes of 7.95% each, in Indiabulls Properties and Indiabulls Real Estate Company.
News source:myiris.com
http://www.indianrealestateforum.com/chennai/t-indiabulls-to-start-two-housing-projects-in-chennai-1233.html
http://www.indiabulls.com/realestate/chennai_housing.htm
location
wikimapia.org/3212130/Sai-Ganesh-Nagar-Pallikaranai
Hi Friends,
This India Bulls – Greens seems to be a “RED” for our money.
I just talked to one of the India Bulls executives today and asked him whether they have got the approval from CMDA to go ahead with the project. He said that they are yet to get the approval.
I asked further when they would expect the approval to come through, he said it may take February or March 2009 and then only the project would be launched. i.e., March or April 2009.
Please be aware that already the same kind of cheating happened with Purvankara Windermere project in Pallikkaranai. These Puravankara people are yet to get the approval for this project and now asking those invested to shift to their Swanlake project in Kelambakkam. After keeping the investor’s money (Rs 5 lakhs) for six months, they are now giving two options such as shifting to Swanlake or take back the money without any interest.
I am sure that the same story will be repeated in India Bulls case also and your money would be kept with them for almost another 7 to 8 months and we can’t predict what would happen there after.
Please do not fall prey to these India Bulls guys tactics. They are hardly hit by the credit crunch and now want to swindle common man’s hard earned money.
- Kamali
Hi All,
As Kamali pointed out IB are yet to get the approval and expect to get it around April 09. They do have a clause mentioning that our money will be refunded with 9% SI if the project does not get started within 1 year from the date of filling up the application form.
Expected date of handover of the apartment will be around 3rd Quarter of 2001. Since the apartment cost ranges between 20 and 50 L at the max i dont think this project will get delayed like other projects.
I have booked an apt there. Let me know if you require any more information.
Pls read the expected date of completion as 2011
Hi RKN,
What is the price you paid (we know the listed price). Are they able to throw in something extra for booking soon.
Sam
I paid 2700 rs/Sq FT. I think the only advantage we get by booking now is the Preferential Location Charges waiver. Apart from this i don’t think they offer any discounts.
Did any one visit that site, How is the site and accessbility.
I Knew that it is next to Isha Signature Luxury villas, but would like to here some comments abt the location (low lying area,water logging,broad roads.. etc) . please let me know if any one having idea abt the site..
But the plan on paper is excellent and they are plannign to have two swimming pools and club houses.
This is very good complex be world class complex with all aminities, vastu,no comman walls and excellent ventilation
Please give me ur comments
Thanks
Chandu
IB site is adjacent to Isha Villa. A 40ft wide road(Work In Progress currently) connects IB Site and the Main Road. Distance from the main road is hardly around 100-150 mts i guess.
During the recent heavy rain i had been to both IB site and ISHA Villa and found that to be ok without water logging.
Though the plan seems to be ok i find the Carpet Area to be very less and am not sure if this is the case with other builders as well.
Regards,
Ramji.
Hi RKN,
What is your designation in IB?
Hari
Hi Hari,
I think you have got me wrong. I dont work for IB. I have booked an apartment there and thought of sharing my views here.
May i ask you who you have such a query in the first place? I would like you to substantiate with any data if you chose to differ on any of my views here.
Besides this is my first house which i would be buying and also very much eager to know if i had considered all the facts while booking an apartment at IB.
Thats my main intention of logging onto this forum.
Hi all,
I am planning to book apartment here..but i am confused for two reasons.. one being that the cmda approval has not yet been obtained and the other will the prices come down further..please guide me on these….
Regards
I too had the same thoughts but still decided to take the risk hoping that everything would fall in place….locationwise this is Spot ON and this prompted me to go for it….
If you have the money and can afford the EMI straightaway then i feel it would be wise to look at an apartment which is nearing completion or even look at second hand apartments(if ur fine with it)..as i feel it is buyer’s market now…
The India Bulls plans looks excellent and as per vastu also.
I have not really gone to the site.
Does any one check the approach roads to the site.
How about water logging in that area.
Please let me know.
Thanks
Chandu
Does any one has idea wheter thy had got the approval?
How abt the carpet area.
When are they completing it.
Are there any new big project comming near the IB site.
How would be the development at medavakkam.
I heard MRTS is goin to extend till medavakkam , is that true?
Please give ur comment.
I am planning to book two apts. This right time and intrest rates are comming down and prices may go up if you see for wait and watch attittude.
They are yet to get the approval and they are hopeful of getting it around April 09 and the expected completion date as per IB is June 2011…..
Carpet Area comes around 70% ..I just calculated it Manually as per the plan and am not sure if that is the right way of doing it……
Chandu: Could you share some of the key Vastu Aspects pls?
Hi
I heard from the sales guy that they will take another 6 months to get the approval and they have acquired only 15 acres out of 50 acres. They are selling only the apartments located within that 15 acres. Please think if they could not acquire remaining plots, then how will they allot open space for this project.
Does any one know how many apartments are booked already??
Ravindhar
Hi Ravindhar,
Did you ask this question to the Sales guy. are they hopeful of acquiring the remaining 35 acres within 6 Months?
Even I am planning to book an apartment and been in touch. As Ravindhar says only one half is open for booking, hope they do things as promised. Do you guys know if there are any good cbse schools around this place. Thanks
How many apartments have been booked till now?Is there any chances of project delay…Real estate guys are facing huge cash crunch including IB…..Can they go fwd and finish the project….
I’m surprised to see that India Bulls is advertising as if they have the whole 50 acres. If they have only acquired 15 acres let them say that they have 15 acres now and that they propose to acquire 35 more.
At Rs2790/-per sq ft, what happens if they are not able to acquire the remaining 15 acres…will the folks who bought the apt just have a concrete jungle and have no open space!
I wish the Govt can do something to prevent folks like IB making false claims about their project. I’m inclined to believe other posts …where they say that IB is in deep trouble (due to the financial crisis) and they are trying to get some capital inflows by getting advances for schemes like the IB Chennai ones.
Hope Chennai folks do not encourage these types of greedy Venture Capital firms who have played a big role in the current financial crisis by trying to make a quick buck.
Please check the reliability of the builders. I see that L&T, EMMAR, Rajparis etc have pucca approved documents and I would trust them and buy with them rather than guys like these who just float a project even without having acquired land.
The fact that their approval will be further delayed in Chennai is another story altogether and let’s see what story they come up with then!
In this current real estate scenario,my recommendation is to go with a reputed builder who can give you some good references. Please check references before you buy. Do not fall prey to what the sales guys may say, as you know they are incented based on how much they sell and by the time the project actually starts (if at all it starts as promised) they may may have jumped ship!
Indiabulls Real Estate Limited is India’s third largest property company with development projects spread across residential projects, commercial offices, hotels, malls, and Special Economic Zones (SEZs) infrastructure development. Indiabulls Real Estate partnered with Farallon Capital Management LLC of USA to bring the first FDI into real estate. Indiabulls Real Estate is transforming 14 million sqft in 16 cities into premium quality, high-end commercial, residential and retail spaces. Indiabulls Real Estate has diversified significantly in the following three business verticals within the real estate space: Real Estate Development, Project Advisory & Facilities Management: Residential, Commercial (Office and Malls) and SEZ Development. Power: Thermal and Hydro Power Generation. Retail: Departmental Stores, Hypermarket Stores, Daily Needs Neighborhood Stores
Sabash, Sariana potti.
Indiabulls have clearly stated that they have acquired only 16 acres. The layout published is only for 16 acres and not 50 acres. For comparison take DLF, it is building 3500 apartments in 50 acres. Taking the landcost into account I dont think we can expect Indiabulls to build 900 apartments in 50 acres at a price of 2700.
The main reason that many of these builders releasing units in phases is to have desired number of apartment booking that will meet their construction cost. This I hope is a risk aversion strategy of any big corporates who will need to justify their shareholders of proper investments.
Any idea abt the availability?
Has anyone visited the site after this heavy rain? Heard that the MTC bus service has still not resumed between Sholinganallur and Medavakam and the entire stretch is completely water logged….Any idea if this happens always or it happened just this time ?
Yes I visited the site after this heavy rain. I couldn’t go to the site via OMR, because the road was completely blocked. But the route via Medavakkam Jn is very clear. Also there is no water logging in the site and the water level in the lake didn’t rise.
Hi,
am planning to book an apmt in IB greens, would like to speak to one of the guys here who has booked an apmt there as I am new to chennai.. whoever has booked , can you pls share your contact no
Please check whether they have approvals. I read somewhere that they didn’t get approval yet even though they are building blocks
Ravi, They themselves say that dont have approvals yet. They will be getting it by middle of next year. This is what every builder in Chennai are doing.. that is why they carryout soft launch.. Let us discuss about the merits and demerits of the project here
I heard they are gogin to increase the price from Jan. I spoke to the IB guys few days back and they are very transparent.
This site is 100% better when compared to the other sites with Fern site(Which is too interior) , and cost wise it is very less due to soft lauch offer.
Every one says the location is good, yes I too agree the loaction is good. How about the reputation of this builder? How will be the finishing? What are his specification and how does it compare with other competitors. This is his first project in Chennai. So far he has not completed any project, but every thing is progressing, as per them. Can we give our hard earned money to these IB guys?
Dear All,
I am booked a flat (my first flat) at Indiabulls GREENS.
Also, I have started a yahoo group for the same, wherein you can share more info.
Please feel free to subscribe at : indiabulls_greens-subscribe@yahoogroups.com
Thanks and Regards,
Anita
Anita,
Please do not start YAHOO group. Yahoo is not convenient.
My request is to start in GOOGLE group. Gmail is more easy and your sent mail is saved automatically.
PLEASE CANCEL YAHOO GROUP AND START GOOGLE GROUP
Anita, What is the price you booked and in which block, is it 2 BHK or 3 BHK. Are they giving any discount. I feel their car park charge of Rs 2 Lakh is high.
Ms.Anita,
It is a good idea to start a group like this, as the project duration is bit long, it will be better if we people who have booked in this project be together or atleast well communicated.
Yes. The car park charge is very high. Huge projects like Opaline are giving it for free… also the club charges are high when compared to Hirco or DLF. Will they meet all our expectations in terms of contruction and quality?
I am planning to buy a apt in this project. Could any one of you who send me your contact to my email ravindar_ragavan@yahoo.co.in. I like to discuss on this project.
Thanks in Advance,
Ravindar.
I mean the contact of potential buyers or who already booked in this project.
Thanks in Advance,
Ravindar.
I am planning to book an appartment in this but looks like there are few other builder offer very lesser price on OMR.
when compared with MARG Pushpadrama,Purvankara at sipct and Real Value Housing at sipcot all on OMR and they are offering very lesser price compared to India Bulls .
More over India Bulls guys are giving less carpet area .
Please let me know your thoughts.
I have been to other sites, Marg is too far . Nikamal looks good but area wise it is small.
IB Plan is good than Marg , RV, and VijayaShanthi.
The only advantage for them is on OMR . But they are near Mahabalipuram just 15 km . Not in chennai.
Where as IB you will have access to the Central and GST road and main parts of Hospiatals and recreations.
The Floor plan of the othe builders is very conjusted , those are budget homes and definetly Quality would be less.
Please let me know if you need any more info.
Dear Ms.Anitha & Mr.RKN,
Could you please drop an e-mail to me ? For your information, i hv booked a flat already and would like to talk to you in that aspect. my mail id is arunnganesh@yahoo.com
Thanks
Hi,
As others have agreed, the location of IB greens is really good for the price offered.
I am really worried about the carpet area and the undivided share.
According to the sales executives, the Carpet area will be 76% of the total area and undivided share will be 55% of the total area.
Hopefully they satisfy the above promises.
I have also purchased a 3 BHK apartment at IB greens.
I have also registered at the indiabulls_greens yahoo groups.
Thanks,
Hari
Arunn i have sent you an email…
Hariharan, Congratulations on your purchase…Given the current RE slump(?)did you manage to get any discount from IB?
I think those who booked earlier like me couldnt negotiate any thing..
Hello,
I have booked a flat at IB this month. I would appreciate recent feedback from people. Pls contact me at mmallick123@hotmail.com
IB hiked the price and it is Rs 2900 now.