Piramal Revanta, Nahur - Is the Registered Agreement fair to the flat buyers? MahaRERA documents
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- Опубліковано 6 лют 2022
- The Piramal Revanta towers 1 to 4 are due for possession between 2023 and 2026. Booking is in progress. The proforma Agreement uploaded on RERA website shows a one-sided contract, wherein the builder company, PRL Developers Private Limited, is unconditionally enabled to exploit the development potential of the land to the hilt, without any scope for opposition by the flat-buyer.
The exit clauses are also extremely one-sided. The so-called Piramal Assurance is a twisted piece of legal drafting, which actually seeks to dilute the rights of the flat-buyer.
ISSUED IN PUBLIC INTEREST BY
Krishnaraj Rao
9821588114 and 8169471229
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Twitter @BravePedestrian
Mumbai
Good insight Krish. Thanks.
And this Fair Value calculation method is taken from Section 50C of Income tax act.. that calculates Fair Market Value if someone sells a property for less than Stamp duty Valuation.. currently it allows a variation of 20% (amendment due to covid), but i used to be 5% until 4 years back.. hence, 95% calculation here.
And another thing to note is, this method is not mentioned in my agreement with Piramal w.r.t. Revanta. My agreement says they will keep 10% of sale consideration and refund the balance in 30 days.. and in case the builder fails to deliver in time, option of full refund.. or interest till possession.
Request you to make 1 video on prestige ballanza mulund,
Sir, whats the solution on this. As awareness in buyer is very less and builders are taking advantage of this. Should we ask builder to change the aggrement content? I dont think he will agree. Instead of making change he will deny the same and again the buyer will need to fight for getting token back as buyer disagree with content. again this will be a failure and loss on buyers side. I had watched your multiple videos in this channel. You are creating awareness in buyers. I really appreciate this, Now can we think over the solutions and making buyers strong so that builder will see that there flats not getting saled, eventually they will forcefully accept the good practices.
Once builder lobby get to know that now instead of filling the visit form from the buyers side, now sales team need to fill the form which buyers are providing with all the pre-questioaries, get it signed with builders stamp. this form should content the buyers right terms of refund etc. and this form content should go as an mentioned attachment in the agreement of sale.
Har koi buyer jb first visit me buildrr se buyers terms conditions form fill krvake lenge tb jake good practices will get start. Will call you regarding this.
Thank you sir, for information.
Similar terms are there for Runwal agreement. Seems that all developers have a common legal advisor
Sir , first to comment !! pls put Sheth montana review !! Many are waiting for same .
Yes, will do!
Just 2Days back I visited Revanta.The Project Looked Promising.Tower 1 is almost ready. Same qstn i asked about Amenities i was told some portion will be ready by December 2023.
Sir please visit TALOJA (phase2)someday and post a review of the projects there..There are many projects there like arihant , jijai angan,kamdhenu etc ....flats are being sold there like hot pancakes
What to do then, which project should we select ?
Nahur west and Mulund has the pin code..400080.. sonapur signal divides bhandup and mulund.. and this is bang on sonapur signal
Can we ask them to change certain clauses? do they agree if it's reasonable?
Hello sir I have and my family have invested in Expat projects and development companies different projects . We have given money by cheque( EMI) now I came to know that the company has declared Bankruptcy. Sir what can we do?
Thank you Sir for your informative posts.
I request you to post your thoughts on leave and License agreements. I have heard inspite of agreements someone can occupy flat without giving rent .....
yes i have been victim of the same. tenant has run away as well and locked the flat since 10 monghs
I agree. There are some major issues.
All these conclusions like one sided agreements existed right from 1990s, but large scale blockage of the primary market will cause sky rocketing of prices in secondary market . I guess 10% to 15% of the revelopment projects will fail, every investor/ tenant will be prepared to take this risk.
Options are few for those people who don't earn in crores
Sir please review prestige bellanza 🙏
Sir, project is in Mulund. Not in Nahur. It's not a commercial area.
Industrial area
It is Nahur. We stay a min before this & can confirm that the pin code is Nahur pin code.
@@sandeepkrathod It's behind to Nirmal Life Style, which comes in Mulund. Please check address and pin code again.
@@VaibhavBhatt24 When I spoke to my friend - a local estate agent- he said it comes in Nahur pin code. You are right about the location being behind Lifestyle mall (I am not questioning that). Bhandup pin is 78 and Nahur is 80- is what I am told. Mulund also (apparently) falls in 80 and 81.
@@sandeepkrathod Please visit to site and you will get idea my dear friend.
Tower 1 is ready and will be handed over by Feb 23
Your views seem biased against builder
Sir Oberoi project Mulund review 🙏
Also Sir Oberoi Sky City Project Borivali if possible.
Will do asap
@@KrishnarajRaoUrbanNaxal Many thanks for this video. I was looking at Revanta but did not want to proceed due to Piramal's one sided tactics. I'm generally not OK with either Piramal or Runwal in this local area. Will really appreciate your report on Oberoi LBS marg as well.