Phase 1 guys are in greater loss. Possession is not going to happen before 2016 and the area is not going to be liveable for another 4 to 5 years after possession either. If the same amount was invested in some other project that would have generated rental income plus at least 100 % appreciation. Which means actual cost of the flat at the time of possession becomes double if someone had invested 4 years back. so it doesnt make much business sense to take such delayed possession without any compensation. All the clauses written in the agreement like the approval status of project etc can be challenged in the court similar to the DLF case (dominant position of the builder ). The master plan changed so many times without intimation. The density of population is going to be much higher. The earlier layout had enough open space. Now it seems a jungle of concrete. There is virtually no space between two adjoining building as we saw during yesterdays site visit. Even investment in Mutual funds is going to give better return than this modest CAGR of 15 percent. I invite you to join our legal fight. We are in process to register an association for all buyers who are ready to go legal and we will file a case against Indiabulls.
Posted on: Mon, 29 Dec 2014 14:52:32 +0000
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