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Here are the Project Images taken End Of February 2009. The Panoramic VIEW (we tried as best as we could :-)) - we can clearly see that even after 14 months of our first installment - all that is there - and till where we could see - is SAND and no buildings (no SITE OFFICE or anything of that SORT). What we could see is only a Sand Road - and that too leading to nowhere.
By the way - they are advertising that they are building a SITE Office there- but in our site visit (around 1 1/2 weeks back) - we could not find anything there. The rest is clear in our images.
As per them the Infrastructure contract is given - but according to the WEBSITE of that CONSULTANT - they are doing still a STUDY of TRAFFIC Impact for RTA's approval. To start with RTA's approvals are not that easy to get and hence we can safely say that this project is MILES away from even breaking ground.
Any Comments?
Thanks and Regards,
they have offered me a staggered payment schedule. 7.5% now and 7.5% after 6 months. this obviously is not good enough given that they have not even started any construction.
ReplyDeletei had called RERA and they advised me to present my case to the Land DEpartment. i think we should all go and talk to them
Can we all get together and devise a plan and approch RERA as I think their price is also not competitive under these circumstances and also under the view that many developers have reduced their prices since Jan 2009 for their projects launched during 2008.
ReplyDeleteGetting together is a good idea. They have a long delay for the construction. Can we use it to get our money back?
ReplyDeleteSomeone set a date and time and I will be there. We need to do something to try and get some money back!
ReplyDeleteI heard that on the 21st March they are appointing the contractors to get to work on site. I also heard that the company is finacially sound. None-the-less, they should at the very least offer large a discount on the OP, otherwise what is the sense in any of us to carry on with payments? The property will likely only be worth 50% of the contract price on handover....possibly less, who knows.
I think it is a good idea to go together to see the RERA. Can you please let us know when a date has been agreed?
ReplyDeleteFrédéric BERNARD
Please see the following news. We should also prepare a petition and hand it to them ASAP. I have prepared one and will send it to the gmail address. Please have everybody sign it.
ReplyDeleteEmaar may Shelve Projects Worth more than Dh90b
http://www.zawya.com/story.cfm/sidZAWYA20090306064548/lok064500090306?weeklynewslettertext
Asking for some of our money back is not going to be successful as their escrow account holder has confirmed their financial stability. Their excellent relationship with RERA is another factor that works against us geting our money back, so an extra effort is necessary.
ReplyDeleteIt might not be believed to be possible to get any money back. But I think that it is important to officialy approach RERA as soon as possible, as we are already past the date for 2nd installment.
ReplyDeleteI agree that if we don't get our money back due to a breech of contract (they must have started construction no longer than 6 months after our contracts are dated) we should get a big reduction in the price. Mada'in for example have reduced their OP's by 30%.
Hi, agree that its a very good idea to collectively recomend cancelation of project, especially when all leading developers are doing so, there is no reaso why at this point in time anyone should start building anything. We should all get together and file in a joint application/ petion to cancel the project.
ReplyDeleteDefinitely we should send a letter to Developer and let them know that after such long delay in starting the construction, we are not ready to make any further payments. I think we should first set a meeting between us to agree on what to present to RERA people exactly and demand our money back. But we should act asap.
ReplyDeleteI spoke with Aristocrat last week and they confirmed everything is going ahead (i presume they are getting things done much cheaper now) - i was also offered new terms on which to pay for my unit.
ReplyDeleteLike many others i just took a punt without any intention of paying the 2nd installment, we have now been screwed due to the market conditions.. Aristocrat are not really doing anything wrong, fair enough they havent started building but they can tell RERA that digging about in the sand for a few days can be classed as starting the project.
Sadly i dont see i have a leg to stand on, happy to be proved otherwise of course! You have my support!
Please ASAP
ReplyDeleteWhat happened to the petition plan?
ReplyDeleteWe had paid our 15% a year ago and untill now they have the audacity to not do anything yet no changes made. All other companies they offered discounts 20 to 30% less then the original price. But the Aristocrat star investments they dont do any reduction in that case they dont care for investers. So what we will have to do is to fight for our money back. So anyone who knows how we could complain to the authority please tell us and comment back ASAP
ReplyDeleteThank you