Was anyone able to get the property file verified by their lawyer ? Any feedback / tips for the current Mahaveer Amaze flat owners ?Was anyone able to get the property file verified by their lawyer ? Any feedback / tips for the current Mahaveer Amaze flat owners ?
Anurag I have paid bookng amount only. Agreement only after lawyer is satisfied. I am damn particular and would need all papers in place including bda's commencement certificate which I feel is a very imp document. Anurag wats ur status on booking etc.Anurag I have paid bookng amount only. Agreement only after lawyer is satisfied. I am damn particular and would need all papers in place including bda's commencement certificate which I feel is a very imp document. Anurag wats ur status on booking etc.
Try this link: facebook.com/MahaveerAmazeTry this link: facebook.com/MahaveerAmaze
https://www.facebook.com/pages/Mahaveer-Amaze-Sigehalli-Kadugodi/1439686149585832https://www.facebook.com/pages/Mahaveer-Amaze-Sigehalli-Kadugodi/1439686149585832
heard today that the sale and JV agreement was signed yesterday and that paper will be available in couple of daysheard today that the sale and JV agreement was signed yesterday and that paper will be available in couple of days
I have created a facebook group already but if any of you know how to create a google group..please do so and invite me also
In facebook, you can search Mahaveer amaze and join that group.I have created a facebook group already but if any of you know how to create a google group..please do so and invite me also
In facebook, you can search Mahaveer amaze and join that group.
100% it is required for each and every person who books any property to go for lawyer opinion on every single matter related to purchase. If we spend 5,000-10,000 rupees on a good lawyer and if they suggest correct things our investment worth lakhs of ruppes actually gets safer rather than crying over spilt milk later.
A bank will do a so called verification. Banks dont check if the builder is doing deviation or not, it wont check if you will get Occupancy certificate or not, it wont check many other things. Its sole purpose is to give us loan and make us pay interest. later when things go wrong..the same banks will run after us and not the builder to repay money.
If a nationalised bank gives loan..its just a small relief for consumer. It can never be a substitute for a good lawyer's actual verification .100% it is required for each and every person who books any property to go for lawyer opinion on every single matter related to purchase. If we spend 5,000-10,000 rupees on a good lawyer and if they suggest correct things our investment worth lakhs of ruppes actually gets safer rather than crying over spilt milk later.
A bank will do a so called verification. Banks dont check if the builder is doing deviation or not, it wont check if you will get Occupancy certificate or not, it wont check many other things. Its sole purpose is to give us loan and make us pay interest. later when things go wrong..the same banks will run after us and not the builder to repay money.
If a nationalised bank gives loan..its just a small relief for consumer. It can never be a substitute for a good lawyer's actual verification .
They gave me the same info as you had received regarding the property file. I feel we may get by second week of December. What is your contact number?They gave me the same info as you had received regarding the property file. I feel we may get by second week of December. What is your contact number?
I will not be able to guide you on discussion points or documentation aspects .
These things can be very easily answered by mahaveer builders. They are competent and trust worthy builder and have a good team which can help you out with your queries. Moreover, i am not a lawyer who can provid e you any help at all hence it is of no use trying to call me up...
In my opinion, it is always the best thing to ask the builder's team and receive responses from them rather than just follow what is written somewhere. Please rely on credible sources and the builder or your lawyer should be the best person to guide you in such important matters.I will not be able to guide you on discussion points or documentation aspects .
These things can be very easily answered by mahaveer builders. They are competent and trust worthy builder and have a good team which can help you out with your queries. Moreover, i am not a lawyer who can provid e you any help at all hence it is of no use trying to call me up...
In my opinion, it is always the best thing to ask the builder's team and receive responses from them rather than just follow what is written somewhere. Please rely on credible sources and the builder or your lawyer should be the best person to guide you in such important matters.
I have 3 points to make and would like to know your comments on it :
a) Are we all comfortable with terms and clauses of agreement ? I have joined a google group of a project called as Oceanus Tranquility and I am amazed to see how the people who booked apartment...all got together and made sure that the builder modifies terms and conditions of the apartment agreement . That project was in pre launch uptil early January . The apartment owners, came for a meeting, went over terms and conditions and then modified the agreement to help all residents. We at Mahaveer Amaze havent done this . Is it better to do things as a group or rather do it alone ? We all need to decide and act fast .I have 3 points to make and would like to know your comments on it :
a) Are we all comfortable with terms and clauses of agreement ? I have joined a google group of a project called as Oceanus Tranquility and I am amazed to see how the people who booked apartment...all got together and made sure that the builder modifies terms and conditions of the apartment agreement . That project was in pre launch uptil early January . The apartment owners, came for a meeting, went over terms and conditions and then modified the agreement to help all residents. We at Mahaveer Amaze havent done this . Is it better to do things as a group or rather do it alone ? We all need to decide and act fast .
b ) Our apartment agreement should preferably mention regarding the apartment association . Please consult your lawyers and let me know what they feel must be the mode of association mentioned in agreement. According to leading lawyers , and also as per this article it should be under the : Karnataka Apartment Ownership Act (KAOA) and we should have a Deed of Agreement ( DOA) ...
Read this article ...its really important : http://content.magicbricks.com/industry-news/bangalore-real-estate-news/the-legal-side-of-kaoa-all-you-want-to-know/62861.htmlb ) Our apartment agreement should preferably mention regarding the apartment association . Please consult your lawyers and let me know what they feel must be the mode of association mentioned in agreement. According to leading lawyers , and also as per this article it should be under the : Karnataka Apartment Ownership Act (KAOA) and we should have a Deed of Agreement ( DOA) ...
Read this article ...its really important : http://content.magicbricks.com/industry-news/bangalore-real-estate-news/the-legal-side-of-kaoa-all-you-want-to-know/62861.html
c) Third and last point : Guys I know I might be boring you with details, but this is hard earned money and I am trying to do as much research as possible so that we do things correctly and don't end up paying through our nose.
Please check your property file and also with your lawyer on who is supposed to pay for Khata charges. Later when we have our apartments , who must pay for these charges. i remember having seen that the builder should do it ...but would like to know what is your observation as per your lawyer . If we havent yet thought about this, then i strongly recommend we give these things a thought . later on , all these unwanted costs will be thrust upon us and they will say ...well you never told us all this while signing the agreement !c) Third and last point : Guys I know I might be boring you with details, but this is hard earned money and I am trying to do as much research as possible so that we do things correctly and don't end up paying through our nose.
Please check your property file and also with your lawyer on who is supposed to pay for Khata charges. Later when we have our apartments , who must pay for these charges. i remember having seen that the builder should do it ...but would like to know what is your observation as per your lawyer . If we havent yet thought about this, then i strongly recommend we give these things a thought . later on , all these unwanted costs will be thrust upon us and they will say ...well you never told us all this while signing the agreement !
If everyone agrees, why dont we plan to meetup near ITPL ( Park Ascendas mall )...or any other comfortable place ..on maybe this Saturday evening ( 5-6 pm). All of you decide.... whatever is comfortable...whenever it is comfortable... ultimately we all will live in the same place and it makes sense we show a combined front during the agreement stage. Did any of you see the terms and clauses of the agreement... or does any of you have reference of any such agreements made by your friends with their builders? That can serve as a starting point for us..or rather a reference point for us.If everyone agrees, why dont we plan to meetup near ITPL ( Park Ascendas mall )...or any other comfortable place ..on maybe this Saturday evening ( 5-6 pm). All of you decide.... whatever is comfortable...whenever it is comfortable... ultimately we all will live in the same place and it makes sense we show a combined front during the agreement stage. Did any of you see the terms and clauses of the agreement... or does any of you have reference of any such agreements made by your friends with their builders? That can serve as a starting point for us..or rather a reference point for us.
Here are some important stuffs we need to be aware of :
• Demand copy of Commencement Certificate and Occupancy Certificate. I have read articles that if builder provides these certificates on their letterhead , its of no value at all.
• Ask for copies of all documents like agreement, joint venture, land registration, Encumbrance Certificate (EC), and tax paid receipts.
• Get all documents verified by a competent advocate, who deals with real estate. There is no use of waiting for bank approval and deciding that project is fine if SBI or any other bank has given an approval. We have to do this verification independently via our lawyer. Important that we share the info within this group regarding what each person's lawyer has said about the documents provided. Consulting a lawyer will hardly take 5-6 thousand but will give us peace of mind.
• Check if there are any pre-existing owners
• Know if the area is approved by competent authorities like BBMP, BDA or BMRDA.Here are some important stuffs we need to be aware of :
• Demand copy of Commencement Certificate and Occupancy Certificate. I have read articles that if builder provides these certificates on their letterhead , its of no value at all.
• Ask for copies of all documents like agreement, joint venture, land registration, Encumbrance Certificate (EC), and tax paid receipts.
• Get all documents verified by a competent advocate, who deals with real estate. There is no use of waiting for bank approval and deciding that project is fine if SBI or any other bank has given an approval. We have to do this verification independently via our lawyer. Important that we share the info within this group regarding what each person's lawyer has said about the documents provided. Consulting a lawyer will hardly take 5-6 thousand but will give us peace of mind.
• Check if there are any pre-existing owners
• Know if the area is approved by competent authorities like BBMP, BDA or BMRDA.
excellent...please go ahead and try for a model agreement of Varna and in meanwhile, i have been able to get a model agreement copy of a different project...oceanus tranquil...this will help us compare and check out what best can be done..to help save money and have some peace of mind ....excellent...please go ahead and try for a model agreement of Varna and in meanwhile, i have been able to get a model agreement copy of a different project...oceanus tranquil...this will help us compare and check out what best can be done..to help save money and have some peace of mind ....
guys...please check this clause in whatever model agreements you have : " The second party (purchaser) shall have no objection whatsoever for the First Party (developer) retaining the unsold undivided share, car parking spaces, open terrace or open spaces other than common areas allotted and to use and/or transfer the same in any manner at their discretion. The Second Party has given irrevocable consent in this behalf "
This is a very very dangerous clause and residents should always be forceful in making builder remove this wording.
WHY ?
I read in internet ....flat cost comprises 2 parts: construction cost which depreciates over time and undivided land share (UDS) which appreciates over time
while we own apartments, all owners part of the land called as UDS. Smart builders secretly keep part of this land for themselves .. and this is the land for which you and I are already paying for...guys...please check this clause in whatever model agreements you have : " The second party (purchaser) shall have no objection whatsoever for the First Party (developer) retaining the unsold undivided share, car parking spaces, open terrace or open spaces other than common areas allotted and to use and/or transfer the same in any manner at their discretion. The Second Party has given irrevocable consent in this behalf "
This is a very very dangerous clause and residents should always be forceful in making builder remove this wording.
WHY ?
I read in internet ....flat cost comprises 2 parts: construction cost which depreciates over time and undivided land share (UDS) which appreciates over time
while we own apartments, all owners part of the land called as UDS. Smart builders secretly keep part of this land for themselves .. and this is the land for which you and I are already paying for...
We must ask builder to show us the summation of total UDS of every single apartment ( 267 apartments ) in the project...
The summation of the UDS should be equal to total area of the land in question.
if there is discrepancy...we need to ask them...
Since it is our hard earned money and the builder is not our family relative....we are justified in asking details on what we are paying for.
http://www.indusladies.com/forums/money-matters/117954-concept-uds-while-purchasing-selling.html
" VERY IMPORTANT THING TO BE ENSURED IS TO VERIFY THE SALE CUM CONSTRUCTION AGREEMENT WITH THE BUILDER , FIND OUT UDS FOR EACH FLAT , TOTAL IT AND IT SHOULD BE EQUAL TO TOTAL AREA OF THE GROUND.WHICH MEANS THAT THERE SHOULD NOT BE ANY UDS LEFT OUT AND RETAINED BY THE BUILDER.SOME BUILDERS WITHOUT THE KNOWLEDGE OF OWNERS KEEP SOME SMALL % OF UDS IN THEIR NAME AND IN FUTURE MAY CONSTRUCT SOME AUTHORISED/UNAUTHORISED, COMMERCIAL/RESIDENTIAL STRUCTURE ON GROUND FLOOR/OPEN TERRACE"We must ask builder to show us the summation of total UDS of every single apartment ( 267 apartments ) in the project...
The summation of the UDS should be equal to total area of the land in question.
if there is discrepancy...we need to ask them...
Since it is our hard earned money and the builder is not our family relative....we are justified in asking details on what we are paying for.
http://www.indusladies.com/forums/money-matters/117954-concept-uds-while-purchasing-selling.html
" VERY IMPORTANT THING TO BE ENSURED IS TO VERIFY THE SALE CUM CONSTRUCTION AGREEMENT WITH THE BUILDER , FIND OUT UDS FOR EACH FLAT , TOTAL IT AND IT SHOULD BE EQUAL TO TOTAL AREA OF THE GROUND.WHICH MEANS THAT THERE SHOULD NOT BE ANY UDS LEFT OUT AND RETAINED BY THE BUILDER.SOME BUILDERS WITHOUT THE KNOWLEDGE OF OWNERS KEEP SOME SMALL % OF UDS IN THEIR NAME AND IN FUTURE MAY CONSTRUCT SOME AUTHORISED/UNAUTHORISED, COMMERCIAL/RESIDENTIAL STRUCTURE ON GROUND FLOOR/OPEN TERRACE"
My Questions to all of you:
1) Will we get commencement certificate before agreement ? If not , what alternatives ?
2) Later will we get completion certificate, occupancy certificate ?
3) Aapartment association will be registered under the The Karnataka Apartment Ownership Act, 1972 or will it be under The Karnataka Societies Registration Act, 1960 ?
As per available literature in Internet, a society formed under 1972 act is the best and gives more power to the apartment residents and helps the residents legally.
Karnataka Apartment Ownership Act (KAOA) : http://bangalore.citizenmatters.in/articles/4202-the-apartment-law-you-must-know
http://www.thehindu.com/features/homes-and-gardens/home-finance/moving-in-know-the-rules/article5304548.ece
http://www.karunadu.gov.in/karigr/faq/registrationofinstruments.htm#1
I did research work and stumbled upon this information and decide dto publish it so that we all know about these thingsMy Questions to all of you:
1) Will we get commencement certificate before agreement ? If not , what alternatives ?
2) Later will we get completion certificate, occupancy certificate ?
3) Aapartment association will be registered under the The Karnataka Apartment Ownership Act, 1972 or will it be under The Karnataka Societies Registration Act, 1960 ?
As per available literature in Internet, a society formed under 1972 act is the best and gives more power to the apartment residents and helps the residents legally.
Karnataka Apartment Ownership Act (KAOA) : http://bangalore.citizenmatters.in/articles/4202-the-apartment-law-you-must-know
http://www.thehindu.com/features/homes-and-gardens/home-finance/moving-in-know-the-rules/article5304548.ece
http://www.karunadu.gov.in/karigr/faq/registrationofinstruments.htm#1
I did research work and stumbled upon this information and decide dto publish it so that we all know about these things
Apart from you and me I dont think anyone else booked at amaze. Whats ur booking number ?Apart from you and me I dont think anyone else booked at amaze. Whats ur booking number ?
I took a 2bhk in A block. What abt you ?I took a 2bhk in A block. What abt you ?
@Jagadish.. .. Instead of assuming what is left in open space and how the builder plans to use that space... should we not approach builder and ask him for clarity. If we are spending money for UDS, shouldnt we at least ask ? Is there any harm in it ? If people who have been purchasing flats and legal pundits keep repeating that people make this common mistake of not asking about how the UDS calculation was made plus the clause mentioned in point 92 by builders ... should we also land up doing the same mistake which others made and repented later ?
As i said earlier, builder is neither my friend nor relative..and if I am not satisfied with what i get..of course its 100% common sense that i walk away.@Jagadish.. .. Instead of assuming what is left in open space and how the builder plans to use that space... should we not approach builder and ask him for clarity. If we are spending money for UDS, shouldnt we at least ask ? Is there any harm in it ? If people who have been purchasing flats and legal pundits keep repeating that people make this common mistake of not asking about how the UDS calculation was made plus the clause mentioned in point 92 by builders ... should we also land up doing the same mistake which others made and repented later ?
As i said earlier, builder is neither my friend nor relative..and if I am not satisfied with what i get..of course its 100% common sense that i walk away.
We will meet at ITPL mall on Saturday, 5-6 pm . We will be near Nandos ( on the ground floor).
People who have agreed to meet are : Pramila, Arun , Anurag and myself
Who comes with what:
I will come with a model agreement of Oceanus Tranquil, Anil will come with a model agreement of Mahaveer Varna. Pramila can get a copy of commencement certificate or a copy of Tranquil agreement if her friend agrees to give it to her. We will use this as an education for ourselves while dealing with apartment agreement.
I was speaking to Kavan Raj and he was saying they will not be flexible with agreement. Personally, I am least bothered by what a builder says. Every builder says this to create pressure in the mind of the residents, but if we are paying the cash, its us who must exert influence and pressure and not them.
It is important we get together and ensure that agreement is done in such a way that residents are in a position of comfort and are at advantage.We will meet at ITPL mall on Saturday, 5-6 pm . We will be near Nandos ( on the ground floor).
People who have agreed to meet are : Pramila, Arun , Anurag and myself
Who comes with what:
I will come with a model agreement of Oceanus Tranquil, Anil will come with a model agreement of Mahaveer Varna. Pramila can get a copy of commencement certificate or a copy of Tranquil agreement if her friend agrees to give it to her. We will use this as an education for ourselves while dealing with apartment agreement.
I was speaking to Kavan Raj and he was saying they will not be flexible with agreement. Personally, I am least bothered by what a builder says. Every builder says this to create pressure in the mind of the residents, but if we are paying the cash, its us who must exert influence and pressure and not them.
It is important we get together and ensure that agreement is done in such a way that residents are in a position of comfort and are at advantage.
@ ALL : Instead of meeting tomorrow...how comfortable are all of you to meet up tomorrow from 9:30 -10 :30 am.
If we meet in morning, this gives us ample time..to decide and speak to Kavan Raj at residency road office.
If we find doubtful stuff by meeting at 5 pm in evening .. we cant deal with it on Sunday since their main Residency road office is closed on Sunday. Later, we cant approach him on weekdays, since we have office . Hence, morning meet up may seem better option.
If all agree, can we meet tomorrow morning, at ITPL mall , ground floor near NANDOS from 9 30- 10 30 am ?
If people are not comfortable with meeting in morning , then of course we can meet in evening 5 - 6 pm.@ ALL : Instead of meeting tomorrow...how comfortable are all of you to meet up tomorrow from 9:30 -10 :30 am.
If we meet in morning, this gives us ample time..to decide and speak to Kavan Raj at residency road office.
If we find doubtful stuff by meeting at 5 pm in evening .. we cant deal with it on Sunday since their main Residency road office is closed on Sunday. Later, we cant approach him on weekdays, since we have office . Hence, morning meet up may seem better option.
If all agree, can we meet tomorrow morning, at ITPL mall , ground floor near NANDOS from 9 30- 10 30 am ?
If people are not comfortable with meeting in morning , then of course we can meet in evening 5 - 6 pm.
@ Kanika : You could ask your friends about what are the things that can be changed during agreement and if they have any sample agreement . Did your friends make any alteration to agreement and so on...also some tips on agreement process as suggested by your friends. You may post them here for everyone's benefit. Also, please ask them regarding association formation, what law was followed and did they get individual khata and OC for their flats.@ Kanika : You could ask your friends about what are the things that can be changed during agreement and if they have any sample agreement . Did your friends make any alteration to agreement and so on...also some tips on agreement process as suggested by your friends. You may post them here for everyone's benefit. Also, please ask them regarding association formation, what law was followed and did they get individual khata and OC for their flats.
@ Pramila..I also have a booking receipt only. When we get property file, we need to show our own lawyer and get his opinion just the way Anurag has done for himself and I will be doing for myself. When , lawyer asks for documents as is case of Anurag, and builder doesnt have documents or says I will give later and so on... It is now our own decision what we want to do ...to carry on with paying rest of money to builder based on his assurance or cancel booking.
Personally, i will cancel my booking..if I dont get the relevant documents as the lawyer wants . It is my own feeling and opinion since I dont want to be in a situation where building gets demolished or we get an eviction notice. If people dont get a CC or an OC, we can get a BDA's eveiction notice. This has happened just a month ago in peenya where 1000 people at Platinum colony built by Sheriff builders faced the notice. They now have to pay a huge sum of money to BDA for no fault of theirs becoz they didnt get OC and CC.@ Pramila..I also have a booking receipt only. When we get property file, we need to show our own lawyer and get his opinion just the way Anurag has done for himself and I will be doing for myself. When , lawyer asks for documents as is case of Anurag, and builder doesnt have documents or says I will give later and so on... It is now our own decision what we want to do ...to carry on with paying rest of money to builder based on his assurance or cancel booking.
Personally, i will cancel my booking..if I dont get the relevant documents as the lawyer wants . It is my own feeling and opinion since I dont want to be in a situation where building gets demolished or we get an eviction notice. If people dont get a CC or an OC, we can get a BDA's eveiction notice. This has happened just a month ago in peenya where 1000 people at Platinum colony built by Sheriff builders faced the notice. They now have to pay a huge sum of money to BDA for no fault of theirs becoz they didnt get OC and CC.
Builders dont usually dont give commencement certificate / Occupancy Certificate...because they already know they are deviating illegally in project. They later pass this task to the housing society formed who is equally clueless on these aspects because of a chalta hai type attitide in 95% of us Indians. Later when things go wrong, resiudents of socienty land up having to pay exytra money to BDA/ BBMP under akarma sakarma scheme to regularise illegal stuffs which a builder did and then made good profit on..leaving residents to sort out all the mess.
Personally, I feel ..if these documents are not given before we make initial 20% payment of flat... I will cancel the booking of my flat. If people demad all this from builders right from the first instant...they will have to listen to residents and give them the documents which are legally mandatory and damn importantBuilders dont usually dont give commencement certificate / Occupancy Certificate...because they already know they are deviating illegally in project. They later pass this task to the housing society formed who is equally clueless on these aspects because of a chalta hai type attitide in 95% of us Indians. Later when things go wrong, resiudents of socienty land up having to pay exytra money to BDA/ BBMP under akarma sakarma scheme to regularise illegal stuffs which a builder did and then made good profit on..leaving residents to sort out all the mess.
Personally, I feel ..if these documents are not given before we make initial 20% payment of flat... I will cancel the booking of my flat. If people demad all this from builders right from the first instant...they will have to listen to residents and give them the documents which are legally mandatory and damn important
@ Anurag ...if these documents are missing and your lawyer has asked for it already what is the builder saying about the documents ? Will he give them or not before you pay your 20% share of money during the agreement and before you ask for bank loan .@ Anurag ...if these documents are missing and your lawyer has asked for it already what is the builder saying about the documents ? Will he give them or not before you pay your 20% share of money during the agreement and before you ask for bank loan .
For those who have sought individual lawyer's opinion...look closely at the KEB paper...check what they say regarding the 11KV lines... will that be any issue for us.For those who have sought individual lawyer's opinion...look closely at the KEB paper...check what they say regarding the 11KV lines... will that be any issue for us.
Does anyone know about betterment charges which need to be paid for the land/ property ? I am not sure if its a gram panchayat approval or hwat...anyone has investigated ?Does anyone know about betterment charges which need to be paid for the land/ property ? I am not sure if its a gram panchayat approval or hwat...anyone has investigated ?
Hi Kanika , what is your flat number? I have also booked here. Do you know AmarnathHi Kanika , what is your flat number? I have also booked here. Do you know Amarnath
Subrat , Thanks for the information provided ! As Anil mentioned, can you share details of agreement at Varna ? This will help us with preparation for the agreement .
My points:
1) What I meant by KEB line is: Please check the first page of KEB approval letter. It says , the builder needs to plan the 11KV HT line from Sai Garden feeder.
My question: Should we not ask builder how he plans to do it ?
Rationale: Another builder Arratt at Electronic city had to stop his construction because KEB intervened. That project is stalled for 1 year.
2) We all know there will be hiccups here and there...but the point is...if we have a chalta hai attitude... we will need to pay for things a builder should have done just because we were not forceful or intelligent enough at the agreement stage
3) Does Amaze agreement speak about giving us Occupancy certificate/ CC certificate ? I know how Oceanus tranquil residents made the builder incorporate this statement in agreementSubrat , Thanks for the information provided ! As Anil mentioned, can you share details of agreement at Varna ? This will help us with preparation for the agreement .
My points:
1) What I meant by KEB line is: Please check the first page of KEB approval letter. It says , the builder needs to plan the 11KV HT line from Sai Garden feeder.
My question: Should we not ask builder how he plans to do it ?
Rationale: Another builder Arratt at Electronic city had to stop his construction because KEB intervened. That project is stalled for 1 year.
2) We all know there will be hiccups here and there...but the point is...if we have a chalta hai attitude... we will need to pay for things a builder should have done just because we were not forceful or intelligent enough at the agreement stage
3) Does Amaze agreement speak about giving us Occupancy certificate/ CC certificate ? I know how Oceanus tranquil residents made the builder incorporate this statement in agreement
4) We should not allow deviation by builder for which we need to pay fine to BDA. Why on earth we should accept paying a fine .
If someone is an investor, all he cares about buying a flat today...selling it after 3 years ...and the next guy breaks his head with fines.
If someone plans to reside at Amaze, we must do due diligence ...and prevent deviations .. One way to check on deviations is to know what is total area of the flats, tell builder to furnish break up of how much land is devoted to which amenity and common area and so on..and thus also find out the UDS of their own flat. The people at Oceanus Tranquil, met the builder, asked for break up of common area...all this will keep builder on his toes and make life easy for us. Has anyone done this or plans to do this with me ?4) We should not allow deviation by builder for which we need to pay fine to BDA. Why on earth we should accept paying a fine .
If someone is an investor, all he cares about buying a flat today...selling it after 3 years ...and the next guy breaks his head with fines.
If someone plans to reside at Amaze, we must do due diligence ...and prevent deviations .. One way to check on deviations is to know what is total area of the flats, tell builder to furnish break up of how much land is devoted to which amenity and common area and so on..and thus also find out the UDS of their own flat. The people at Oceanus Tranquil, met the builder, asked for break up of common area...all this will keep builder on his toes and make life easy for us. Has anyone done this or plans to do this with me ?
@Anil ... Have you been able to approach a lawyer to get legal verification on the property file received by you ?@Anil ... Have you been able to approach a lawyer to get legal verification on the property file received by you ?
@ Meeting tomorrow at 9:30 - 10: 30 am at ITPL mall, ground floor. I will get laptop and internet wth me
Who comes with what:
1) Debi : Model agreement paper of Oceanus Tranquil.
2) Anil : Model agreement of Mahaveer Varna.
3) Pramila : Copy of commencement certificate and copy of Mahaveer Tranquil agreement .
4) Anurag : Please do make an attempt to join in. You could get any sift copy of agreeement / lawyer's opinion etc with you.
5) Loknath : Responsibility is to go through the discussion threads of this forum, and note down all important points. You could help us by becoming our note taker and time keeper for our meeting (will you do this for us ?)
6) Subrat : You are welcome to join us. We will stand to gain from your expertise.
7) Kanika: Would be great if you can email me/ Anil: Mahaveer Ridge agreement
8) @ Avinash/ Jagdish or anyone else : You are all welcome to join in !
Also, if you know others who booked here, spread the word around...@ Meeting tomorrow at 9:30 - 10: 30 am at ITPL mall, ground floor. I will get laptop and internet wth me
Who comes with what:
1) Debi : Model agreement paper of Oceanus Tranquil.
2) Anil : Model agreement of Mahaveer Varna.
3) Pramila : Copy of commencement certificate and copy of Mahaveer Tranquil agreement .
4) Anurag : Please do make an attempt to join in. You could get any sift copy of agreeement / lawyer's opinion etc with you.
5) Loknath : Responsibility is to go through the discussion threads of this forum, and note down all important points. You could help us by becoming our note taker and time keeper for our meeting (will you do this for us ?)
6) Subrat : You are welcome to join us. We will stand to gain from your expertise.
7) Kanika: Would be great if you can email me/ Anil: Mahaveer Ridge agreement
8) @ Avinash/ Jagdish or anyone else : You are all welcome to join in !
Also, if you know others who booked here, spread the word around...
What will we discuss :
a) Model Agreement : What all clauses should not be there. Compare with other's agreements and learn best practice.
b) Reach consensus on what all to ask builder :
1) How is UDS calculation made for Amaze. We wont accept someone saying..well its some X % of your Super Built up area. Builder needs to prove how he reached a particular UDs...and show us split of common areas and a summation of total UDS
2) What are the electricity and plumbing plans for the apartment. This will help us know how may AC points, TV points, etc he will provide. Also, he needs to mention how much current is being given to each apartment..and it should be in agreement
3) What is the minumum abount of money, builder will pay us if he delays the project. usually builders quote a very low figure of penalty of 5000-6000 per month if they delay project, but if we delay payment we pay 14% interest . We must negotiate and make builder pay 9000 per month for his delay
b)What will we discuss :
a) Model Agreement : What all clauses should not be there. Compare with other's agreements and learn best practice.
b) Reach consensus on what all to ask builder :
1) How is UDS calculation made for Amaze. We wont accept someone saying..well its some X % of your Super Built up area. Builder needs to prove how he reached a particular UDs...and show us split of common areas and a summation of total UDS
2) What are the electricity and plumbing plans for the apartment. This will help us know how may AC points, TV points, etc he will provide. Also, he needs to mention how much current is being given to each apartment..and it should be in agreement
3) What is the minumum abount of money, builder will pay us if he delays the project. usually builders quote a very low figure of penalty of 5000-6000 per month if they delay project, but if we delay payment we pay 14% interest . We must negotiate and make builder pay 9000 per month for his delay
b)
4) Check if in the agreement the builder mentions super built up area or carpet area of a flat ? try to figure out what makes more sense for us.
5) What sort of khata / documents should we get from builder? Maybe Subrat can help us with it or we can also involve our lawyers to find out more about what sort of land is this ( gramthana and so on )
6) Discussion regarding the clause which a builder mentions regarding retaining unsold UDS in a property. Check the 92nd post i made.
7) What sort of stuffs will they mention in agreement , what sport of granite , what width etc..is mentioned in agreements by other builders and projects and what makes most sense for our project.
8) Terrace rights ...what is mentioned by other builders and projects?
9) What to do regarding getting commencement certificate ? I know its pre launch..but what if we pay agreement money and later after 3-4 months he gives us commencement certificate and we see a deviation ? Are we to be be penalised4) Check if in the agreement the builder mentions super built up area or carpet area of a flat ? try to figure out what makes more sense for us.
5) What sort of khata / documents should we get from builder? Maybe Subrat can help us with it or we can also involve our lawyers to find out more about what sort of land is this ( gramthana and so on )
6) Discussion regarding the clause which a builder mentions regarding retaining unsold UDS in a property. Check the 92nd post i made.
7) What sort of stuffs will they mention in agreement , what sport of granite , what width etc..is mentioned in agreements by other builders and projects and what makes most sense for our project.
8) Terrace rights ...what is mentioned by other builders and projects?
9) What to do regarding getting commencement certificate ? I know its pre launch..but what if we pay agreement money and later after 3-4 months he gives us commencement certificate and we see a deviation ? Are we to be be penalised
these are just some of the discussion points regarding agreement , but of course I am sure you will also have many such things running in your mind. Please feel free to keep including the points ..and we will all discuss them properly tomorrow. If need be...we may extend meeting by another 30 minutes also... but we could try to round up as much details as possible.these are just some of the discussion points regarding agreement , but of course I am sure you will also have many such things running in your mind. Please feel free to keep including the points ..and we will all discuss them properly tomorrow. If need be...we may extend meeting by another 30 minutes also... but we could try to round up as much details as possible.
@ Kanika... what sort of opinion has your lawyer provided. I have approached a lawyer couple of days ago for legal verification . He will take 8-10 days to give me his first opinion. Meanwhile, would like to know what sort of opinion was received by you.@ Kanika... what sort of opinion has your lawyer provided. I have approached a lawyer couple of days ago for legal verification . He will take 8-10 days to give me his first opinion. Meanwhile, would like to know what sort of opinion was received by you.
I dont know how they are sayning sbi approval is done. I called up some guys at sbi and they say its not aqrovd till now. The lawyer who is incharge of legal work from sbi's end is not done with verifications. God knows how much time is needed. In fact why siud they bother with time. Government job for them , whether they do work or not it wont matter. Salary will come monthly for sbi guys.I dont know how they are sayning sbi approval is done. I called up some guys at sbi and they say its not aqrovd till now. The lawyer who is incharge of legal work from sbi's end is not done with verifications. God knows how much time is needed. In fact why siud they bother with time. Government job for them , whether they do work or not it wont matter. Salary will come monthly for sbi guys.
Thanks Kanika...can you send construction agreement also ?Thanks Kanika...can you send construction agreement also ?
@Kanika: my email id is: debiprasadsinha123@gmail.com
You could email the agreement.
@Subrat: I agree with what you say regarding how difficult/ impossible it is to monitor/ understand calculations/ deviations. However, I derive inspiration from what i see other residents do at their project. If they have the brains, and dedication to do so..why cant we ? Even if no one wishes to do it , I for sure will ask the builder to provide me these details...whether he likes to send those to me or not...that is his problem...at my end..i am a consumer who needs to be satisfied with what i am purchasing.
If I were an investor, i wouldnt even blink an eyelid...since the problem will be passed on to the next person buying the apartment.
@everyone : please ask your lawyers regarding what sort of property paper will we receive. How do we know its Gramthana
We need to compare with Nitesh forest / Good apartments what sort of papers did they get ? Panchayat approval or any other papers ?@Kanika: my email id is: debiprasadsinha123@gmail.com
You could email the agreement.
@Subrat: I agree with what you say regarding how difficult/ impossible it is to monitor/ understand calculations/ deviations. However, I derive inspiration from what i see other residents do at their project. If they have the brains, and dedication to do so..why cant we ? Even if no one wishes to do it , I for sure will ask the builder to provide me these details...whether he likes to send those to me or not...that is his problem...at my end..i am a consumer who needs to be satisfied with what i am purchasing.
If I were an investor, i wouldnt even blink an eyelid...since the problem will be passed on to the next person buying the apartment.
@everyone : please ask your lawyers regarding what sort of property paper will we receive. How do we know its Gramthana
We need to compare with Nitesh forest / Good apartments what sort of papers did they get ? Panchayat approval or any other papers ?
Thanks for the info Pramila. In the meanwhile , apart from Anuarg and myself...who else has visited their own lawyer for verification of the property file. If all of us can do this activity, then we will be safe and sound . Different lawyers will see things differently . What one lawyer may miss, another lawyer may catch. If we are willing to do this activity, and share information with each other, then it will prevent us from losing money later.Thanks for the info Pramila. In the meanwhile , apart from Anuarg and myself...who else has visited their own lawyer for verification of the property file. If all of us can do this activity, then we will be safe and sound . Different lawyers will see things differently . What one lawyer may miss, another lawyer may catch. If we are willing to do this activity, and share information with each other, then it will prevent us from losing money later.
as far as I know its around 3250 per sq ft. has anyone booked here..if yes whats the experience regarding the legal status, approvals, land and so on.
@ Balwinder .. I also found you some days ago speaking about Jeevan exotica..have you booked there already ?as far as I know its around 3250 per sq ft. has anyone booked here..if yes whats the experience regarding the legal status, approvals, land and so on.
@ Balwinder .. I also found you some days ago speaking about Jeevan exotica..have you booked there already ?
i have contacted sbi branch at itpl and at mahadevpura plus special home loan branch at jaynagar. Each one of them said the same. The file as per my knowledge was sent to jp nagar branch who appointed a lawyer to look at legal facts of the file. The lawyer responsible is not over wth verifications. Please ask for loan approval number from sbi if people are saying that its been verified by the bank. Also please ask if legal, original plus technical verifications are done or not. For a loan to be sanctiond all 3 are necessary steps by the bank.i have contacted sbi branch at itpl and at mahadevpura plus special home loan branch at jaynagar. Each one of them said the same. The file as per my knowledge was sent to jp nagar branch who appointed a lawyer to look at legal facts of the file. The lawyer responsible is not over wth verifications. Please ask for loan approval number from sbi if people are saying that its been verified by the bank. Also please ask if legal, original plus technical verifications are done or not. For a loan to be sanctiond all 3 are necessary steps by the bank.
I have visited lawyer and he will charge me 13000 to do a full verification , provide legal opinion, do a title scrutiny, original verification , going to bda for checks, sub regirstrar office and so on.
The lawyer is jerome d souza near mg road. An eminent property lawyer and an sbi lawyer panelist. In just dial he got all good ratings. The thing is , he is costly guy but a great lawyer. If there are people willing to split costs with me, it will be good for all of us. The lawyer looked at the file and said since full land is undr development the opinion he gives is taking into account both the surveys.
This way we cud split cost and get a detailed opinion as well. I will do the running around and co ordination while you can shdre cost with me. Kanika, Pramila and Anil ... Will you be interested. Apart from them anyone also is interested then feel free to write in this forum.I have visited lawyer and he will charge me 13000 to do a full verification , provide legal opinion, do a title scrutiny, original verification , going to bda for checks, sub regirstrar office and so on.
The lawyer is jerome d souza near mg road. An eminent property lawyer and an sbi lawyer panelist. In just dial he got all good ratings. The thing is , he is costly guy but a great lawyer. If there are people willing to split costs with me, it will be good for all of us. The lawyer looked at the file and said since full land is undr development the opinion he gives is taking into account both the surveys.
This way we cud split cost and get a detailed opinion as well. I will do the running around and co ordination while you can shdre cost with me. Kanika, Pramila and Anil ... Will you be interested. Apart from them anyone also is interested then feel free to write in this forum.
If I get 1or 2 people willing to share cost , I guess per head cost becomes 4000 . Please make your decision fast and let me knowIf I get 1or 2 people willing to share cost , I guess per head cost becomes 4000 . Please make your decision fast and let me know
anil at what rate are you being quoted ?anil at what rate are you being quoted ?
My Questions to all of you:
1) Will we get commencement certificate from BDA given by the builder before the agreement ?
2) What about approval and NOC from BDA ?
3) Will we get completion certificate, occupancy certificate from builder ?
4) Aapartment association will be registered under the The Karnataka Apartment Ownership Act, 1972 or will it be under The Karnataka Societies Registration Act, 1960 ?
We should insist for all documents before commencement of agreementMy Questions to all of you:
1) Will we get commencement certificate from BDA given by the builder before the agreement ?
2) What about approval and NOC from BDA ?
3) Will we get completion certificate, occupancy certificate from builder ?
4) Aapartment association will be registered under the The Karnataka Apartment Ownership Act, 1972 or will it be under The Karnataka Societies Registration Act, 1960 ?
We should insist for all documents before commencement of agreement
Congrats on becoming a part of Amaze community. Yes, they will give you a receipt . later when you take property file and finish submitting some part of the flat's cost, then you will get an agreement paper for the flat.Congrats on becoming a part of Amaze community. Yes, they will give you a receipt . later when you take property file and finish submitting some part of the flat's cost, then you will get an agreement paper for the flat.
