Investors be aware of the following:
1) Please do not pay any amount without a proper legal document. Insist the developer to give a legally valid agreement and all the concerned bills. Please understand that they are not doing any favour to you. Be on the upper side and do not give any undue advantage to them.
You are the buyer.
2) Please read all the points mentioned in the agreement and registration document before signing them. Some of the developers are acting smart. I have seen this recently in the registration documents of a reputed builder. They say that the portion of the built area that they are about to developed is saleable and explicitly belongs to them even after taking couple of lakhs towards development fee per plot from the buyer.
They says that the vendee specifically agrees that the commercial/social infrastructure land can be sold by the vendors to third parties.
All this after taking couple of lakhs per plot for development. What to say.....
They says that the vendee specifically agrees that the commercial/social infrastructure land can be sold by the vendors to third parties.
All this after taking couple of lakhs per plot for development. What to say.....
3) Please do not get mesmerised by their words/hospitality/brand name/reputation. There is nothing much you can do once you pay the amount or register the plot.
4) Ask them for pahani copies and all link documents. Check whether the land is already under mortgage. Talk to a local people to know more about any disputes on this land. Cross check them with revenue officials/gram panchayat before paying any amount.
5) Take all the promises in the written form. Do not hurry, wait until they give us all the details. Hold your emotions and act wisely with complete consciousness.
6) Check the registration value for which they are registering the plot(exaggerating the govt registration value). Exaggeration of registration value effects registration charges/saleability. Take this in writing. Some of them are registering HMDA plots at a very high value for their advantage.
7) Insist on meeting the owner before making any payment, otherwise the owner may escape later blaming his poor chap(employee) for false promises. If owner is not reachable at purchase time, then please think whether he will be reachable to you after making payment? Every dog is a king in its own street. Big cars, hi-fi offices in posh localities, mind blowing interiors and all these will blow us if we are flattened to these.
Always prefer to purchase from an owner who can sit and discuss with you. Owners social status has got nothing to do with you. Please understand that they are earning money out of you and you are not earning any money out of this transaction at that point of time.
Always prefer to purchase from an owner who can sit and discuss with you. Owners social status has got nothing to do with you. Please understand that they are earning money out of you and you are not earning any money out of this transaction at that point of time.
8) Take all the specifications in the written form and insist on including them in the registration document.
9) We got nothing to do with their standard template document. If any thing looks suspicious, do not listen to them. Take you own time, take a legal advice make your own or mutually agreed agreement before proceeding further.
10) Do not agree with them regarding handing over of any important docs to you at a later point of time. They keep postponing till registration time and may not give you the docs.
11)Once you pay the amount with out checking docs or with our a proper legal agreement/bill, you may get in to all sorts of hurdles.
12)Please do not purchase plots which are under mortgage.
13) Preferably register the document taking help of a known qualified agent near the regional registration office. Convey this to the developer/seller. Let the agent cross check every thing. These people can identify crucial mistakes which when overlooked will become a headache in the near future. They can even check things internally taking help of registration officials. Let them check the link docs, land issues and any objections on that survey no. Do "search".
12)Please do not purchase plots which are under mortgage.
13) Preferably register the document taking help of a known qualified agent near the regional registration office. Convey this to the developer/seller. Let the agent cross check every thing. These people can identify crucial mistakes which when overlooked will become a headache in the near future. They can even check things internally taking help of registration officials. Let them check the link docs, land issues and any objections on that survey no. Do "search".
If possible, make full or at least partial payment through a bank transaction from your account to their account.
Hilarious things here is that the one who is paying the money is being taken for a ride by the one who is receiving the money. Why? Is this the only available piece of plot or flat on earth?
*** One more developer is waiting for HMDA permission to construct towers in approx. 6 Acres.
Stats:26th March 2015
22nd March 2015
*** One more builder started apartment construction work besides TCS Campus.
Narayaran college @ exit#13
Wonderla @ exit#13, Narayana college is visible
Wonderla @ exit#13
Narayarana college besides ORR @ Adibatla
Adlabs Imagica Plans to Open Theme Parks in Hyderabad, Delhi
NDTV | Updated On: March 10, 2015 21:03 (IST)
"As a way forward we want to be in Hyderabad and Delhi. We have identified the land in Hyderabad but Delhi we are talking about it. What I feel is these kinds of parks should be in three places of the country so you know that much potential in the business is there I feel," Manmohan Shetty, chairman and managing director, Adlabs Entertainment told NDTV.
Read mote at:
related links
(News dated June 2014....Sources say Imagica has been approached by the State Government and the Outer Ring Road beyond the IT Corridor near Adibatla is currently being considered as the location.)
However, the identified land is not known.
Rs.2,000 crore allocated to make Hyderabad world-class city (Budget for 2015-16)
One of the plot owners took power connection, dug borewell and is on the way to construct a house near TCS campus. It is more likely that we'll see more constructions in the coming months.
Around 4 builders applied for HMDA permission to construct apartments each in an area not less than 1.5 Acres. Out of this one person started work recently and others are about to receive permission with in a short duration.
One builder applied for HMDA permission to construct villas.
Banks, ATMS, police station, food centres, bakery and womens hostel have come and there is plenty of scope for hostels and misc. dependent establishments.
