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Old 22nd September 2011, 07:29   #811
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Default Re: The Property / Real Estate Thread

@Blue-V, the prospective seller has already taken physical possession from Mantri. But apparently he has not registered the flat (at sub-reg office) in his name. And Mantri is asking for 4%
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Old 22nd September 2011, 09:39   #812
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Default Re: The Property / Real Estate Thread

In that case it is actually better to ay 4% (after negotiation) to Mantri.

Reason is, otherwise he will ending doing registration twice. One for sale from Mantri to first purchaser and then second registration. And both will attract registration fees taxes (and probably VAT). Part of it cane be claimed via refund (in theory).

If you pay 4% to Mantri, you can skip first registration. Mantri will directly register sale deed with send purchaser as first owner.
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Old 26th September 2011, 08:02   #813
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Default Re: The Property / Real Estate Thread

Sorry guys, thats what I heard from him, just wanted to know what he had to tell after i read on this forum, i did not get into details since i do not have plans to sell it midway or anytime soon.

Important thing for me was after registration Mantri is out of the picture while selling the flat.

-------------

Speaking of flats, I happened to travel on Mysore Road couple of times lately. I have also mentioned previously about some projects coming up in Nayandahalli.
But its just madness that Salarpuria and others have come up with flats right next to BWSSB Sewage treatment plant !! What is our government doing? How can they sanction the project in such a filthy location?

Last edited by Blue_V : 26th September 2011 at 08:06.
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Old 26th September 2011, 08:38   #814
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Default Re: The Property / Real Estate Thread

Blue-V, do you know that Sobha has one completed project very close to the treatment plant on ORR near Nagavara (opp that lake park). (Between Nagavara signal and Hebbal flyover)
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Old 26th September 2011, 08:57   #815
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Default Re: The Property / Real Estate Thread

Quote:
Originally Posted by condor View Post
Guys, what's the situation / issue about betterment charges for apartments ? One broker I was talking to said that this is common to all apartments, but honestly I could not make out what he said.
@condor
I was also looking for some info on this subject. Apparently BBMP brought back (from June/July, I believe) collecting betterment charges after it was stopped in 2003 (?). I booked an apartment last year and now the builder is asking for the same. This comes to around Rs600/sqft of undivided share of land. Do you have any more info? Thanks!

Last edited by bejoy : 26th September 2011 at 08:58.
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Old 26th September 2011, 11:00   #816
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Anybody has any idea about new flats/villas coming up in Coimbatore? There are lot of new ones coming up on the Coimbatore-Trichy Road. anybody with any 1st hand experience of buying/searching for flats in these locations, please help!!
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Old 26th September 2011, 11:10   #817
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Blue-V, do you know that Sobha has one completed project very close to the treatment plant on ORR near Nagavara (opp that lake park). (Between Nagavara signal and Hebbal flyover)
Havent been to that side, but this place really stinks, if you have travelled towards Mysore, I think you wouldnt have missed. ??
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Old 27th September 2011, 20:24   #818
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Default Re: The Property / Real Estate Thread

I have requested the legal documents. But I faced some hassle because "usually customers dont ask for these documents" response from Mantri.

I dont want to write my ramayan. So many nataks from them. And now it seems there is a rate issue. Gawd !! I have made my booking paying 2 lakh, now a rate revision? As usual hoping for the worst.
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Old 27th September 2011, 20:43   #819
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Default Re: The Property / Real Estate Thread

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Originally Posted by Blue_V View Post
I have requested the legal documents. But I faced some hassle because "usually customers dont ask for these documents" response from Mantri.

I dont want to write my ramayan. So many nataks from them. And now it seems there is a rate issue. Gawd !! I have made my booking paying 2 lakh, now a rate revision? As usual hoping for the worst.
This is the exact point where we all say together "Well, we told you so".

Keep a cool head. Ask - its your right to know. Get everything minutely related to any change in specs, rates, etc on paper. Don't take verbal confirmations on anything.

What are your conditions on the booking amount? Does it not mention that rates at the time of booking will hold till sale. There could be other considerations but every rate hike should not be loaded on you. Whats the use of booking in advance.

Somewhere you mentioned 10% discount for people who paid the whole amount. Now think of their plight.

Last edited by Spitfire : 27th September 2011 at 20:48.
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Old 27th September 2011, 22:22   #820
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Default Re: The Property / Real Estate Thread

Its good to hear the " I told you so" esp from my side . Taking things step at a time.

I imagined my plight with the whole amount paid, so I haven't gone with the full payment. I will update you guys with the whole story soon.

Keeping a cool head, esp with ma'ams around.
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Old 28th September 2011, 09:02   #821
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Default Re: The Property / Real Estate Thread

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Originally Posted by Blue_V View Post
I have requested the legal documents. But I faced some hassle because "usually customers dont ask for these documents" response from Mantri.

I dont want to write my ramayan. So many nataks from them. And now it seems there is a rate issue. Gawd !! I have made my booking paying 2 lakh, now a rate revision? As usual hoping for the worst.
Revision? Hike or correction?
Also since you are buying it from Mantri, and because they are reputed, you can trust them with documents. I know I differ from the "legally-perfect" people here but you can really trust Mantri IMO, same way as you trust their quality. They would certainly take enough care to make sure not everyone else start demanding the documents for all their projects.
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Old 28th September 2011, 09:56   #822
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because they are reputed, you can trust them with documents.
DLF is/was a reputable company, and it is much bigger than Mantri. That did not stop it from screwing up thousands of customers in NCR. Only when the matter was picked up by Media, govt had to push that to courts.

In real estate transaction, it helps to be paranoid because money that is involved can make or break someones financial situation for decades.
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Old 28th September 2011, 09:57   #823
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Default Re: The Property / Real Estate Thread

Quote:
Originally Posted by Blue_V View Post
I have requested the legal documents. But I faced some hassle because "usually customers dont ask for these documents" response from Mantri.

I dont want to write my ramayan. So many nataks from them. And now it seems there is a rate issue. Gawd !! I have made my booking paying 2 lakh, now a rate revision? As usual hoping for the worst.
That's bad. Shows how much success has gone to their head.

HM Group provided me with a spiral bound book containing the legal documents as soon as i paid the booking amount. This is the norm everywhere, including some smaller builders whom i had contacted before i finalized on my current apartment.

Do press them for the documents.. never believe their claims at face value.

Quote:
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Revision? Hike or correction?
Also since you are buying it from Mantri, and because they are reputed, you can trust them with documents. I know I differ from the "legally-perfect" people here but you can really trust Mantri IMO, same way as you trust their quality. They would certainly take enough care to make sure not everyone else start demanding the documents for all their projects.
Well, neither Mantri nor anyone is safe from the clutches of the authorities. If Mantri had all their holdings in order, they would not run into issues with the BBMP over Mantri mall. Its all about the right amount of money at the right time.

Last edited by benbsb29 : 28th September 2011 at 10:01. Reason: Replying to additional post.
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Old 28th September 2011, 10:03   #824
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Default Re: The Property / Real Estate Thread

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I know I differ from the "legally-perfect" people here but you can really trust Mantri IMO, same way as you trust their quality.
You work for Mantri Builders?

Quote:
They would certainly take enough care to make sure not everyone else start demanding the documents for all their projects.
LOL!! Can you explain what you have typed above?

Documents for all their projects? What does that mean? I am buying apartment in one project I ask papers for that project. Why would you want papers for all projects under a builder?

Oh, I am a legally perfect person as you mention above. Probably due to the fact that I don't have black money to invest. I don't play the game you-hide-some-I-hide-some for the common good.

Please if you have substantial information please bring it here. And avoid advising people not to be perfectly legal when it comes to real estate buying for them. I believe you will not take the responsibility of the people who invest their hard-earned money by not being perfectly-legal. LOL!!
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Old 28th September 2011, 10:22   #825
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You work for Mantri Builders?



LOL!! Can you explain what you have typed above?

Documents for all their projects? What does that mean? I am buying apartment in one project I ask papers for that project. Why would you want papers for all projects under a builder?

Oh, I am a legally perfect person as you mention above. Probably due to the fact that I don't have black money to invest. I don't play the game you-hide-some-I-hide-some for the common good.

Please if you have substantial information please bring it here. And avoid advising people not to be perfectly legal when it comes to real estate buying for them. I believe you will not take the responsibility of the people who invest their hard-earned money by not being perfectly-legal. LOL!!
Well, I only meant Mantri will have done what it takes to be perfectly legal. You may not re-do it, if you trust Mantri. I assumed people who want to buy from reputed builders is to avoid such hassles of verifying everything on their own. It is another matter that over suspicious people don't trust even themselves!
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