August 4th, 2016
Hi,
"Attaching photos of the current status of the Elite project"
Adding one more star to my previous review of three stars. And here’s the reason. A year back I had my doubts about the completion of the project. After a delay of nearly two years(due to multiple reasons beyond anybody’s control). Construction has began in full swing for the last few months. In Bangalore, it’s pretty common these days for projects to get delayed by about a year or two(name a single builder that hasn’t delayed the project.?). However, it’s the attitude and intention of the builder that matters most. And kudos to the MD of ND Developers for personally taking the initiative to get the project completed at the earliest. I would still say ND Passion Elite is a project worth every Rupee invested. It’s all about the location, location and location. The building material and quality that is promised for ELITE is much better than Shobha.
Note: I will revisit this review in 6 months and update it based on the progress, if required.
P.s. I’ve read some of reviews posted against the project/builder. My question to those folks is simple. If you were so damn particular about completion timelines, expectations, etc, why din’t you book a flat next door in Shobha.? You can’t have Bread, Butter, and Jam:)
P.s.s. I have booked a flat AG02 in Elite, and I urge prospective buyers to go ahead invest in ELITE without a doubt.
Regards,
Mansur Faroqui
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Original Post(as of Oct 28, 2012 02:06 PM)
I recently booked a flat at ND Passion Elite(actually still waiting for the cheque to be cleared). The entire project looks very promising and awesome. In fact, I visited their Elite model flat in person, if my flat is going to look like what they’ve shown me, then I will be a huge fan of N.D for life and will buy more from them.
I’ve run the legal documents through my counsel and below are some+ives and -ives that I’ve noticed. (These are just my personal views)
Positives
1. They have BBMP approval
2. They are a part of CREDAI
3. They are a well known builder
4. They have quite a few projects coming up in the next few years.
Negatives
1. It’s been about six months since they got most of the necessary approvals, but they still don’t have a crucial document "Commencement Certificate". Without this cert, they cannot start building and finish the project on time.
2. They don’t have documents clearing mentioning’Demarkation of flats’. Meaning, they have a 60% ND Developers - 40% Srinivas Reddy(land owner) stake in the Elite Project, but there is no clear document that mentions which flat is assigned to whom. E.g: My flat falls under the developers quota, but it’s nowhere mentioned in the set of documents given me.
3. No EMI scheme - The builders are offering no EMI scheme till possession. Meaning - the builder will pay interest to the bank on the customer’s behalf till possession. My only concern is that there is no legal document stating this. As a buyer i’m really concerned about protecting my rights for the future. But on a positive note, the builder has promised me to give this in writing on company’s letterhead mentioning the same(but, only at the time of sales agreement). I would ideally like this to be sorted out in writing during paying the booking amount.
I encourage people to come forward and share their views and experiences regarding this project. Only productive and useful comments please.
Thanks
An Elite project customer.