Monday, March 5, 2012

Mahagunpuram Booking Holders- Attention

Dear Booking Holders of Mahagunpuram Project
I had booked Mahagunpuram Flat on 3rd May 2009 by paying initial booking amount. Since the project was not approved hence disbursement by HDFC was delayed up to end August 2009. Like me there are many other Booking Holders whose disbursement was delayed by HDFC. In August 2009 itself Mahagun had sent letters to many booking holders levying delayed payment interest. I along with few of my friends who had also booked the flat in Mahagunpuram visited their office in sector 63 Noida to represent the issue. We had met Mr. Brajesh Gaur Vice President  and Mr. Sunder Rajan GM in August 2009. We represented that demand of interest was unethical as delay of payment was for the reason Mahagun did had approval of project and HDFC was not disbursing the loan. After couple of visits we were informed that Mahagun had stopped sending such letters to remaining booking holders. He also confirmed that letter for waiver of interest will be sent to the booking holders. Few of the booking holders started getting the waiver of interest letter. We were contended that matter has been amicably solved.
But we were wrong. Mahagun had only fooled the booking holders in August 2009. They had falsely assured that no delay payment interest will be levied. They only posted false letters  for waiver of interest to the booking holders but did not set their account right in computer. In fact they have slapped delay payment interest to the tune of Rs 38000 to Rs 50000 in all the account of the booking holders. This I came to know when I visited Mahagun office on 3rd March 2012. I tried to explain what all was discussed in August 2009 but nobody listened me. All senior persons whom we met in August 2009 are no more working with Mahagun.
This is an extremely serious issue. I have already teamed up with 5 members and plan to take up the issue with Mahagun. It is my request that we should team up in large number so that Mahagun does not have any escape route.
All the members may contact me at pavanahuja@gmail.com with your phone numbers so that we may settle the issues before 15th March 2012.
Pavan Ahuja
5th March 2012
9810165699   

8 comments:

Rahul Das said...

Had obtained an in-principle H/L approval from HDFC. Subsequently booked an apartment in Mahagunpuram Phase - 2, dated Feb 18, 2012 under "Down Payment Plan". On Mar 5, 2012 (within 16 days of allotment), approached & submitted all property related documents with HDFC. Bank personnel now informed that since the property is under construction, full H/L disbursement request can be processed only after Mahagun Real Estate Pvt. Ltd. opens up a Fixed Deposit (FD) A/C with HDFC for a sum of 75% of total loan amount being disbursed. Mr. Mohit from M/s Mahagun, assured me that required sum will be deposited with the bank by Mar 13, 2012. Hope he will keep his words.

Rahul Das
+919717671668

GD said...

Hi Rahul,

Dont Just trust on the builder.
Simply send an email to Mohit [you can ask him the meail ID], and simply mention what you had discussed with him.

So that you will have a written proof of what he is agreed to. In this way, if Mahagun failed to deposit amount, you can get full advance back. Also, if possible do not sign the buyer/seller agreement, unless the amount is deposited.

Rahul Das said...

Dear Admin

Thanks for your response. Though I'hv already communicated M/s Mahagun Real Estate Pvt. Ltd. (through e-mail on Mar 5, 2011 followed by a reminder on Mar 10, 2012), I am yet to receive a written reply.

As far the concern regarding signing of "Buyer/Seller Agreement (i.e. the 15 page Allotment Letter)", same is deposited (along with Permission To Mortgage, Builder Demand Letter, & Tripartiate Agreement) with M/s HDFC Ltd, dated Mar 5, 2012.

Now, only thing pending is signing of Tripartiate Agreement by M/s HDFC Ltd & thereafter the loan disbursement, which is possible only after builder (M/s Mahagun Real Estate Pvt. Ltd.) deposits the necessary sum amount with M/s HDFC Ltd.

Thank you once again for creating/ maintaining this blog. I will keep you informed regarding my experience.

Rahul Das said...

Received disbursement cheque on Mar 13, 2012. Full & final settlement done........ Now looking forward for Year 2014 :)

GD said...

@rahul
congrats man...

Ankit said...

Hello,

Hope all of you are doing good !!
I am currently in United states and do not have direct access to my mails, still I happened to hear from my father about the same letter received.
My father visited Mahagun office to clarify the same and they asked him to touchbase with the Bank and get a letter from them so that the interest can be waived.

As there was no delay from our side, I sent my bank with the documentation and they again asked me to mend this directly with the dealer.
It is a real pain because of this to and fro thing and I would appreciate to consult with you on further steps.

Could you please let me know your best availability so that we can discuss more on this?
Thank you in advance !!

Thanks,
Ankit Tyagi
+1 508-215-0272 (x50272)

Father’s Name: Mr. J.K.Tyagi
Phone number: 0122 - 2311628

Rahul Das said...

Dear Ankit, in case u had applied for H/L under Construction Linked Plan (CLP) or Flexi Plan, please seek for your Loan A/C statement (wid your Banker) & check whether disbursement cheques were issued as per the demand schedule.

If you can prove in records that payments were made as per the demand schedule, you can ask Builder to remove the penalty.

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