Tuesday, February 21, 2012

Suncity Gloria - What builder is not telling you - appreciation

Suncity Gloria Link 1 Suncity Gloria Link 2 Suncity Gloria Link 3 Suncity Gloria Link 4 Suncity Gloria Link 5

Builder has told many of you that the Suncity Gloria is a perfect case for investment gain. Let's analyse If that is true.

Suncity Gloria was sold at 2500 (after discounts) to people in 2010. Now the rate being quoted is 3000. But when you negotiate the builder is ready to sign the deals at 2800 after discount. Even for selling at 2800/- the builder is spending money on advertisement, marketing staff and commissions. There is no way a buyer can sell at 2800/-. You cannot even sell at 2500, as no one is buying

So how much percentage appreciation have you seen. 12% in two years. A bank FD gives more than 12% in two years.

Apart from that:

1. You have been paying pre-EMI on your payments.
2. The bulk of the money is taken by the builder in first two-three installments itself.

Anybody still wants to convince me or themselves that Suncity Gloria is a appreciating asset.

Suncity Gloria - What builder is not telling you - Cost of land

Suncity Gloria Link 1 Suncity Gloria Link 2 Suncity Gloria Link 3 Suncity Gloria Link 4 Suncity Gloria Link 5


CLPD has been a proven fraud builder in all his 4 earlier projects. In these blog posts we are analyzing his new project Suncity Gloria. We are analyzing why the cost of land is so low in Suncity Gloria and why the cost of construction is higher.

1. cost of land is not even 15% of basic price. Once cost of construction increases, vat, service tax increases.


2. undivided share of land is 283 sqft only. Builder is keeping some land on his name. Later he can construct other commercial projects inside. I have analyzed this same thing here as well.

3. super market , medical store and cafeteria are in ground floor of club house. These were owned by builder. We are not sure how much land share allocated to these.

In the end, bulider will not relinquish the common areas to the people. He has not done this for any projects till now ever.

Suncity Gloria - What builder is not telling you - KPTCL/BWSSB deposit

Suncity Gloria Link 1 Suncity Gloria Link 2 Suncity Gloria Link 3 Suncity Gloria Link 4 Suncity Gloria Link 5

Those of you who have met the builder would have seen this calculation -
cost of Suncity gloria.

Now we all know that Electricity connection and Water connection is provided to you, Government takes deposit. Have you wondered how much? Let's see how much is CLPD, the builder of suncity gloria, charging you for deposits.

He is charging you 150 per sqft deposit. For a small 2 BHK this amount comes to 1.6 Lac. For the whole Suncity gloria project this amount will come around to 20 Crore.

Yes the builder is charging you 20 Crore in the name of deposits given to KPTCL (Electricity) and BWSSB(Water).


Let's analyze the fraud that is happening here.

1. For a housing complex, like Suncity Gloria, the group scheme of KPTCL is valid. CLPD would need around 1100 electricity meters. This needs a deposit of 2.3 Crore.

2. For a housing complex situated on sarjapur road, there will be no BWSSB connection. There is no plans to take cauvery water line to sarjapur. The BWSSB has published a roadmap till 2030. In this roadmap there is not plan to take the water supply lines to Gloria. So builder will not be depositing any money with BWSSB.

Now the question is if the deposit amount to be given to the authorities is only 2.3 crore, why is a amount of 20 Crore being collected instead.

So you see how CLPD makes money by selling you apartments. I will again re-iterate what I have said earlier. CHEAP FROM CHEAP CLPD IS VERY COSTLY FOR LIFE.

Suncity Gloria - What builder is not telling you - Undivided share of land

Suncity Gloria Link 1 Suncity Gloria Link 2 Suncity Gloria Link 3 Suncity Gloria Link 4 Suncity Gloria Link 5


What is Undivided share of land?

Along with the apartment, you own a part of the land on which the apartment is constructed. This is called undivided share of land. This way all apartment owners jointly own all the land inside the apartment complex.

The fraud being commited in suncity gloria by CLPD.

1. The undivided share of land is 283 sqft only for your flat.

2. If you do a basic calculation, the total undivided share of the land for the whole complex comes to less than 9 acres. But we were told that the project will be 10 acres. Where is this missing land. Read the next point to find out.

3. Builder is keeping some land on his name. Later he can construct other commercial projects inside. He has done the same in other projects. In suncity he built a super market, a mess (a Andhra mallu mess, can you believe it). In Genesis he built a school (3 storey big structure). God knows what he will build in Gloria. My guess is a restaurant and a bar.

Go to any project in Bangalore. All the apartment land is handed over to the residents. Why is more than a acre of land in suncity gloria project been kept by builder in his name? Simple. Future exploitation.


Sunday, February 19, 2012

Suncity Gloria – What builder is not telling you – Railway line

Suncity Gloria Link 1 Suncity Gloria Link 2 Suncity Gloria Link 3 Suncity Gloria Link 4 Suncity Gloria Link 5


Builder has been telling everyone that Railway line is not an issue. In Bangalore everywhere you can find railway lines. There are only 4 trains that pass through that railway line.

Now is the time for some truths.

1. This railway line goes to Salem.

2. There is a railway station around 250 meters from the project. Usually trains horns just before reaching to station.

3. There is a railway crossing around 25 meters from the project. Usually trains horns just before reaching to station. Especially at night.

4. You can see list of trains stopping at this station here. Apart from this some other trains goes through this line (no stop at this station). If you add Goods trains also, The number of trains through this line is more than 24. That mean a train every hour. That means a honking train at 3:00 am in the morning.

5. Salem is a single line currently. There is a plan to make salem a double line. That means in near future a notification will be issued for acquisition of land for double railway line. What this means for Suncity gloria. All the greenery and baseketball court, tennis court marked on the suncity gloria plan will be demolished and taken over by the railways. You will be left with a building and you apartment.


Here are the emails from some of the people who live in prestige shantiniketan. Their distance to railway line is about three times that in suncity gloria. Read this before you proceed.



mrinal bhalla mrinalbhalla@yahoo.com
10/10/11 to prestige_shant.

Hi All -

This is a query to all the people residing within the blocks right next to the railway tracks, especially the apartments that face the tracks - Please suggest a way / best practice, to reduce the noise made by the passing trains, especially, throughout the night.

I stay on the 10th floor, and keep my bedroom windows, and the door closed, however, that barely takes care of the problem.

Please advise, if anyone's been successful in tackling the issue.

Regards
Mrinal
9th Block
mrinalbhalla@yahoo.com

And another one

Srinivas Nallamotu snallamotu@sbcglobal.net

Hi All,



Its a problem not only for the flats facing tracks - the noise is so loud, it reverberates through the whole complex. I am not sure why they whistle so much in the nights. Also, one train goes so fast that the whole complex shudders.



No idea how to tackle this issue but some thing we need to investigate on how to solve. This seems like major problem for Shantiniketan complex. With a community as large as this, we should be able to put some pressure on railway authorities to mitigate this, at least in the nights.



Best Regards,



Srinivas Nallamotu

Flat 6065



And another one




Yes, by the day, the noise is getting out of control. Its frustrating to see that especially in the nights, trains keep standing and whistling. I took into the apartment just about 2+ months back on rental basis, and haven't been a able to sleep peacefully even for a single day.

I did check with the Sound proofing person, and he suggesting putting double glass on the sliding windows of the master bedroom, and the bathroom attached. However, that would lock the balcony forever, as the glass would be a permanent fix. Also, the bedroom door would need to have another wood plank attched to it. While that does sound to be the only option, is there any other way that I could have my balcony from getting shut down permanently? On the other note, I do have heavy curtains, which I specially got done at a decent cost to get the noise in control, however, to no use.

On the other suggestion of taking it up with the railway authorities, I think it would be a great try, even if they get convinced of not having the trains to whistle in the night. I am still fine throughout the day, but one does need peaceful sleep in the night. And may be it's psychological, but the nuisance is just increase by every passing night.

Regards

And another



Hi Srinivas

As per Railway rules as far as I know the drivers are suppose to honk when approaching or going from stations, approaching railway crossing or in some other areas / circumstances. I dont think they are doing it deliberately but just following the rules as mentioned. If they dont honk if they were supposed to and some accident happens and in an enquiry it is found they did not folow the rules they would loose the job. I am also saying this because my father was in railways earlier and do know that for operations part the railways are bit strict. Anyway there is no harm in requesting the railways if they can stop the honking but then that may require contacting the General Manager of the Railway division

Thanks and Regards

Vijay

Throw these emails in the face of the marketing people when they tell you the next time that railway line is not a problem.



Helpless owners of Suncity Genesis try to keep CLPD goons at bay.

Suncity Gloria Link 1 Suncity Gloria Link 2 Suncity Gloria Link 3 Suncity Gloria Link 4 Suncity Gloria Link 5


Suncity gloria blog

CLPD, same builder who is bringing you suncity gloria is trying to create a new supermarket at Genesis, his second biggest project. Following is the mail expressing concerns. Decide yourself, If you want to buy in Suncity Gloria and then be helpless for future.
On 18/02/12 Amit Gupta of B3 008,Owner wrote:

Hi All,

We all know that there is a plan to shift supermarket to Genesis clubhouse.This is to request all the flat owners to please meet tomorrow at 11:00am and cast your vote.

Apologies for such a short notice.

After talking to few residents we gathered few points why we should not have supermarket in Genesis

Here is the list of reasons why the supermarket should not open inside Genesis complex.

There is no clarity whether the Supermarket is exclusive for Genesis residents or will it be used Jointly by all the residents of suncity, Euphoria, Zephire and Genesis.
If the Super market opens Cleanliness will be a big problem, with all the garbage near the clubhouse
People will park the vehicles near the clubhouse.
Movement of trucks will increase.
With more commercial vehicles near the clubhouse, Noise pollution is a big problem and peace of mind of the residents ; specially B1 and A5 is at stake.
We don’t have any means to stop the residents of nearby societies who come inside for shopping.
With outside people coming to the club house the Usage of common facilities will increase (People might start mis-using the facilities).
With increased Usage of common facilities the maintenance cost will also increase.
with so many outsiders in the residential complex Safety and security will be a challenge, Chances of theft, molestation, eve-teasing, risk of rag pickers from nearby locality roaming around in the apartment complex will increase.
In future there is possibility that supermarket vendor will extend it by bringing in coffee shop, restaurant or bar.

Regards,
Amit Gupta
B3-008

The reason Suncity Gloria is being sold so cheap is that builder makes money by commercializing all the project later on. He will build a idli shop, super market and control it.

Mystery of Occupany certificate in CLPD, the same builder who is giving you suncity gloria

Suncity Gloria Link 1 Suncity Gloria Link 2 Suncity Gloria Link 3 Suncity Gloria Link 4 Suncity Gloria Link 5


Suncity gloria blog

Occupancy certificate is one of the most important documents while buying a apartment. This certificate issued by government certifies that the building is fit for occupation of the residents. If this certificate is not present, government can evict the residents at any time. This has happened earlier in Springfields, Sarjapur road where government issued a notice for vacation of buildings.


CLPD is a bangalore based builder who is offering you Suncity gloria. This builder has completed four residential projects in Bangalore till now. Let's see if he has been able to get the Occupany certificate in any of these.

1. Suncity apartments - 8 years after construction, the occupancy certificate is not available for all the blocks.

2. Euphoria apartments - 4 years after construction, the occupancy certificate is not available for even a single block.

3. Genesis apartments - 3 years after construction, the occupancy certificate has not even be applied with authorities.

4. Zephyr Apartments - 5 years after construction, the occupancy certificate has not even be applied.

Would you really want to buy from a builder who cannot get you khata, occupancy certificate? Do you now realize why the rates of the building in Suncity Gloria are so low.



The problem faced by Euphoria built by CLPD, the same builder who is giving you suncity Gloria

Suncity Gloria Link 1 Suncity Gloria Link 2 Suncity Gloria Link 3 Suncity Gloria Link 4 Suncity Gloria Link 5



Suncity gloria blog

You can click on the map below to see where Euphoria is located. Euphoria is the second biggest project built by CLPD (The same builder who is giving you Suncity Gloria).

http://maps.google.com/maps?q=12.927115,77.663003&num=1&t=h&ie=UTF8&ll=12.927113,77.663507&spn=0.001367,0.002411&z=14&output=embed
View Larger Map

I am sure you have seen and read the negative feedback about the builder in his largest project. But I will not talk about that today. I want to talk about his second biggest project and evaluate how that is going.

Euphoria project was completed by CLPD 4 years back. Just like Gloria, it was promised all amenities. The current issues -

1. Street light - There is not street light near Euphoria. You cannot walk to Euphoria after 8:00 PM. The street lights were put up when the project was being sold. As soon as the project was sold out, all street lights were taken out to be used in the next project.

2. Cauvery water - The money was taken for cauvery water connection. But it was never paid to BWSSB. Builder refuses to give receipt for money paid. RTI application revealed that there is over 2 crore of payment pending to get cauvery water. A very clean fraud.

3. Maintainable issues - The builder stopped answering maintenance calls a long time back. If you visit the Euphoria apartment, you can see the pathetic state of maintenance. The main gate to Euphoria was installed after 4 years of completion of the project. In suncity the main gate has not been constructed even after 8 year.

4. Handover to association - Builder refuses to recognize owners association in Euphoria. When the suggestion was presented that he sanction the formation of owners association, he wanted to be the lifetime president of the association.

5. Cracks in the building and structural integrity - Euphoria was built on land adjacent to the Lake. The foundation was not dug deep and hence the building started developing cracks within the first year. The swimming pools is build on the top of the basement and leaks water in the basement. That swimming pool will not survive for another 5 years.

6. Khatta issues- The builder did not pay betterment charges or property tax for the property. Hence many owners now cannot get khatta in their name. Another loss of 30-40 thousand for the owners.

I can go on and on. I understand that all builders have some problems related to delay, labor etc. But most of the big builders are genuinely interesting in correcting mistakes. Doesn't seem like CLPD intends to learn anything.

In the next blog I intend to cover the state of their another property (genesis)

The problem faced by Genesis built by CLPD, the same builder who is giving you suncity Gloria

Suncity Gloria Link 1 Suncity Gloria Link 2 Suncity Gloria Link 3 Suncity Gloria Link 4 Suncity Gloria Link 5



Suncity gloria blog

You can click on the map below to see where Genesis is located. Genesis is the third biggest project built by CLPD (The same builder who is giving you Suncity Gloria).

http://maps.google.com/?ie=UTF8&hq=&hnear=Zing,+Block+16,+Suncity+Apartments,+Bangalore,+Bengaluru+Rural,+Karnataka,+India&ll=12.925664,77.66757&spn=0.001367,0.002411&t=h&z=19&output=embed

View Larger Map

I am sure you have seen and read the negative feedback about the builder in his largest project. But I will not talk about that today. I want to talk about his third biggest project and evaluate how that is going.

Genesis project was completed by CLPD 3 years back. Just like Gloria, it was promised all amenities. The current issues -

1. Initial struggle - The electricity from BESCOM was given 6 months late. It took the builder 3 years to make the roads in the complex. The property tax for previous years was never paid.

2. Cauvery water - The money was taken for cauvery water connection. But it was never paid to BWSSB. Builder refuses to give receipt for money paid. RTI application revealed that there is over 2 crore of payment pending to get cauvery water. A very clean fraud.

3. Commercial interests - The builder has started building a school in the area of the building. The entrance of the school is through Genesis. Very soon school buses, parent's car will throng the Genesis to enter the school. Builder has relinquished common areas within the Genesis premises for this entry of school. Their club house is now been sold to a party who will run the grocery store there. Imagine, the club house doesn't hold pool, snooker or carrom board. I will now be used to sell atta, dal and rice. See the image at the end of the post.

4. Handover to association - Builder refuses to form a association in Genesis.

5. Property development using common area - The builder has a big chunk of land at the end of Genesis. He plans to use the genesis common facilities and roads to develop that property. Same thing that he has been doing in his previous three projects. See the image at the end of the post.

6. Property appreciation - The genesis apartments were sold at peanuts to the buyers. Even today they will fetch peanuts in resale market. The rates have not appreciated more than 15%. This much has been paid by buyers in pre-emi only.

In the next blog I intend to cover some of the media coverage about the builder.

Feedback and review on the net for the CLPD - builder for suncity gloria

Suncity gloria blog

Suncity Gloria Link 1

Suncity Gloria Link 2

Suncity Gloria Link 3

Suncity Gloria Link 4

Suncity Gloria Link 5


The builders for Suncity Gloria have previously done the following residential complexes
       
  1. Suncity is a mega-condominium project from CLPD with 20 blocks and 1250 houses (flats) in it.
  2.    
  3. Euphoria with 375 flats
  4.    
  5. Genesis with 375 flats
  6.    
  7. Zephyr with 46The developers are making provision for a Swimming Pool and Recreational Facilities for the convenience of the residents.
  8.    
  9. Gloria with 1200 flats is currently under development.

While researching for the credentials of the builder I came across the following feedback protests against the builder.

Residents taking out a protest march against the builder

[youtube=http://www.youtube.com/watch?v=R_QxBLhnuCk&w=640&h=360]

Builder addressing the residents.

[youtube=http://www.youtube.com/watch?v=NvwgCNGkKa4&w=640&h=360]

The coverage in TV against the builder.

[youtube=http://www.youtube.com/watch?v=BsxDJW3qfvo&w=640&h=360]

Let me know what you think about these.

Suncity Gloria by CLPD at sarjapur road Bangalore

Suncity gloria blog at wordpress

Suncity Gloria Link 1

Suncity Gloria Link 2

Suncity Gloria Link 3

Suncity Gloria Link 4

Suncity Gloria Link 5

Suncity Gloria is the latest offering from CLPD (Corporate leisure property development builders). According to the builders website
Suncity Gloria is the latest and the most delectable offering from M/s. Corporate Leisure & Property development (P) ltd after their phenomenal success of highly acclaimed mega-condominium project “Suncity”. Perfectly located on Sarjapur road, 5 minutes drive from the Wipro corporate office, Suncity Gloria is spread over 10 acres of land. With 75% of the available space dedicated to beautifully landscaped gardens and amenities, all apartments face lush green spaces. This gated community is conceived to provide the discerning young families with high quality housing loaded with amenities at true value prices. The entire project comprises of 2 Mega Blocks - Block-1 & Block 2, having 2 and 3 wings respectively. A total of 1052 flats are elegantly designed among these Wings. The Clubhouse will be a lively place with amenities like supermarket, cafeteria, Gymnasium, Games room, Health club, Laundromat, Party hall, ATM and more. The project also possess swimming pool, kids pool, full fledged basketball court, Volleyball court, badminton courts, etc. World class design, meticulous planning, high quality of construction with finest materials and finishes assures you of true value for your money. Discover Suncity Gloria and embark upon a journey to satiate your dream and pamper yourself in truly enchanting lifestyle. You can get residential apartments in Bangalore, and flats for sale in Bangalore.
The rates quoted by the builder are the lowest in the whole Sarjapur Road. You won't find the same rates even 20 Km away the city. So naturally, this is a big attraction for anybody towards the project. But sadly, like all good things nothing comes cheap. When I searched for builder's feedback on the web, I understood why the apartment complex is being sold at dirt cheap rates. What is your opinion?