IDEB has a project Whitefield in Bangalore called Tivoli...The project started in 2006 and the company (IDEB Parkway holding) have sold more than100 flats to people promising possession in 2007 and 2008.But the company has been delaying construction and even thgough all the buyershave paid more than 80% of the sale consideration, the construction and registration of the project is not underway.
Various public notices have been filed but the Company nor its MD - HS Bedi, have responded.The copany office, based in Sigma Tech Park, Bangalore, just has a few staff left and none of these people answer any of the questions posed by the buyers nor provide information on where the Directors like Bedi or Gajra can be contacted.
Legal Notices have gone unanswered,Just Dial numbers are always in the busy tone and even the project loans sactioned by banks like HDFC have been defaulted.
The builder - IDEB and Parkway- owned by HS Bedi and Gajra are still walking free trying to cheat more people despite complaints.This further points to a strong political and illegal nexus between various banks and statutory bodies which have choosen to keep quite .
This further points to the sad fact that the laws of the country are there only to protect rich and powerful while the common man gets easily cheated of their hard earned money and savings by such fraudulent builders.
Complaint marked as Resolved [User Comments]
resolution in place - builder confirmed registration
klone, geeta1985, mehrotra51, SM80, tivolicheated, Good Morning to all.
This is to introduce my self L.Ali Yousuff.as one of the oldest interior decorators in bangalore since 30 Years when even flats concept had not started in our city.
Our interaction starts with all the builders from the time of construction till the project is over, our customers become our wellwishers and inform us one more investment and many times we reach another project of the same builder.
After seeing your groups plight i thought of saying a few words...
I have seen many worst projects which were Shelved, Walls not plastered, Staircases Incomplete, abandoned partners disputes, and the sites deserted with one watchman family etc,
I frequently go to WF Rd and visited TIVOLI spoke to site office persons and saw the mok-up 3 BR FLAT and also one finished 2 br flat, seeing the condition and reading the bank involment report by you all i feel.
SEEING THE CONDITION AS OF TODAY I THINK THE WORST IS OVER AND THE BEST IS AT HAND.
THERE IS NO NEED TO PANIC AS I HAVE SEEN ALWAYS GOD JUSTIFIES AND FAVOURS OUR CITIZEN OF INDIA[YOU THE PUBLIC]FOR THEIR HARD EARNED MONEY HE WILL NOT BE UNJUST.
I GOT REPORT FROM PEOPLE AT SITE THEY WERE VERY CO-OPERATIVE IN EXPLAINING ABOUT DELIVERY OF FLATS WHICH WILL TAKE PLACE BY MARCH/APRIL. IF GOD WILLS MANY FAMILIES [LADIES&CHILDREN] WILL FIND THEMSELVES IN THEIR HOME SWEET HOME...
I ALSO DO SOME REAL ESTATE SALE RE-SALE OF FLATS WHEN GIVEN BY THE OWNERS [EXCLUSIVELY TO US] SIDE BY SIDE ALONG WITH INTERIOR WORK.
WE NEED TO KNOW IF ANY ONE WANTS TO SELL THEIR FLAT [EXCLUSIVELY THROUGH US] AS SOME INVESTORS MAY BUY WHO WANT TO INVEST FOR RENTAL INCOME.
PL FORWARD/MAIL THE DETAILS OF THE FLATS TO...
firstname.lastname@example.org or email@example.com OR CALL 9900595025...
I CAN START GIVING PERSPECTIVE DRAWINGS AND QUOTATION/PERSPECTIVE 3-D DRAWINGS FOR WARDROBES AND KITCHEN THE BASIC INTERIOR WORK TO RENT OUT OR SETTLE THEMSELVES
IN THE PROJECT IN NEAR FUTURE.[WHICH WILL HAPPEN IF GOD WILLS]PL LET US KNOW...
THAT TYPE OF PERIOD OF ALL THE DISTURBED MINDS, FRUSTRATIONS FIGHTS & COMMOTIONS [ I HAVE SEEN WITH TOP NAAMDAR BUILDERS]FROM 30 YEARS I THINK BAD PHASE IS OVER IN YOUR CASE...
MAY GOD GIVE YOU PEOPLE CONSOLATION AND REST TO YOUR MINDS AND YOU ALL SPEND THE NEXT NEW YEAR 2013 IN YOUR FLATS...
firstname.lastname@example.org or email@example.com OR CALL 9900595025...
The current status of the project - there has been delay than what had been promised, but as indicated in my earlier post that the work at site is slow but happening.
The lift are installed in Block A and B where in testing is going on - hence any body how wants to use the lift they can do the same ( along with the lift engineer as to my knowledge the testing is going on). In block C it is about 70% completed and D tower it is going on.
On the possession as of now the developer has still not started but again the apartment upto 5th floor of all the blocks are ready and the possession can be taken for wood work. But being honest with the present stage of site i dont think any buyer would possession. From the discussion i had with Rajesh they are working on speeding up the work from coming week and most likely by end of Feb there would be lot of changes in the site.
On the sales, what ever sales we have done in Tivoli we have tried to give all the best of information about the project, and almost all the buyers had got the legal papers verified by their lawyers and then only gone ahead. I also agree that any delay from the time given for possession it effects the buyer as they have to give their existing rent and the pre emi . But again as there is a project loan from HDFC what ever money the developer got from the sales some part of the money went towards the project loan and some part was released to the developer, which again effects their cash flow. We have been able to sell about 9 apartments of 3bhk apartments for the developer and as of now all the 2.5 and 3bhk are sold out. And on the commission we would get paid as per the market norm 2% it is not that we are getting paid extra for selling their units.
I also agree that there is ambiguity on the completion of the project as the work at site is at snail speed and buyers are worrying if the developer would be able to complete the work. The same i have put across to Rajesh that they need to get aggressive on the work at site as it is high time now.
it is not that we ( home solution) had any intention of selling wrong product to a buyer - as real estate is all about good will and trust and once this credibility is lost it would be very difficult to get that back.
Lastly i would like to say that please don't treat you as a victim, I agree that has been not considerable work at site in last one month and this would give more fear in the market what if this continues further but considering that the price was kept reasonable. We are only a agent for Parkway Holding Pvt Ltd and we are trying to put this across to them also that if the project is delay beyond a limit it would effect their brand trust in the market and might effect them in sales of their villas etc.
i would update few photos on the development at the site in a weeks time so that i can help for buyers who are not based in Bangalore.
Hoping that things would go good now on, the concern that i feel is that as the deal line parkway had given has been missed by two times hence buyers would not get the trust on the next deal line that would be given.
Again im just putting my inputs on the same and might vary from person to person on the project.
With the experience of last 6 years in Bangalore market we have seen many project from Big times builders where projects have been delayed delayed and delayed.
I would try to update on the development on the project in every two weeks time and im still very bullish on the project with respect to own use and investment.
I am planning to buy an apartment in Tivoli, can anybody suggest whether its a right decision? How is the builder, the marketing guy said that Parkway had constructed the Springfields apartments in Sarjapur which I know its a good apartment. Kindly suggest.
It seems IDEB has some more pressing demands on its funds. They havent paid property tax on their SIgma Mall property which translates to a liability of 5.5. crores.
Corresponding news article: http://ibnlive.in.com/news/defaulters-hurrying-to-clear-arrears/225449-60-119.html
Recently have heared that out of 4 acre area of Parkway Tivoli, 1 acre belongs to Governement. Sigehalli Gram Panchayat has sent a legal notice to the builder for their illegal construction and encrochment of 1 acre govt land. I tried to enquire about it with the builder, but no one giving the right answer. Have also checked with gram panchayat and they are saying that they have sent the notice. Also for compensation thay have asked for 10 crore. Doesn any one has any clarity on it ?????
I also heard about illegal construction on 1 acre of land by parkway and called up home solution broker manish gupta who is dealing with this property.He confirmed that there is this title issue with the property and told he just got to know about it yesterday only. I don't know whom to believe because I am sure atleast brokers knew about this issue but they are not telling the truth.
Also Builder has been promising people that project would be handed over in november 2011, but it doesn't look like there is enough work going on. I visited the site 3-4 times in last week I hardly see any labour (not more 10-15 workers) working times even in weekdays. looks like its gonna take another 10-12 minimum before its handed. I guess landlord knows about the legal issues with the building and doesn’t want to invest till legal titles are fully cleared. There are quite a few investors in the project who want to wash off their hands from this project by selling it fast thru brokers..marketing team is saying it would be handed over in June/July this year but with work happening at snail pace it would surely not be completed before dec 2012.
The comments made by RDK2001, Montty and VIND are totally baseless, incorrect and has been published to tarnish the reputation of MRG Relators Pvt. Ltd., Parkway Holdings Pt. Ltd. And Tivoli Project. We are the absolute owners of 4 acres 15 guntas situated at Syno.118 and 119, Seegehalli Village Bidarahalli Hobli Bangalore (East) and have entered into a JDA with Parkway holdings Pvt ltd. This project is approved by BDA(Bangalore Development Authority) and other statutory bodies.
We would like to clarify that we have not received any notice from seegehalli panchayat with regards to subject property. We are the absolute owners with a clear and marketable title. Any attempt to circulate baseless and misleading information will result in appropriate legal action.
Genuine buyers having any concern regarding the property can contact us or the developer for any clarification and documentary proof.
Spoke with the Parkway management, they are planning August occupancy now. Happy with the on-going work and progress, looks promising. Hope there are no road blocks now. Looking forward to moving into my apartment. Paying rent and home loan EMi is killing my savings big time. Wish builders could empathise with buyer's plight and maintain a trustworthy relationship.
we to have been cheated by this company, but sadly we not only lose money but are suppliers who lose the materials as well and need to make payment to people we have purchased materials from. If you have the contact no of Mr Bedi, then its a request that you pass it on. Plz mail it to firstname.lastname@example.org and oblige
The issues are not solving for sure, I'm owner of 2 flats and am ready to give it back at the rate I bought still not getting any buyers... you can imagine the situation... It will not complete even 1 year from now.
Hi All, I read all your comments as i was contemplating to buy a flat in this project. Firstly all my empathies to all the owners, i can understand what you might have gone through. Based on what I read, seems like after all the IDEB Parkway Drama and Delayyyyy... Parkway promised possession in Nov'11, then delayed it to Jan'12 and then Aug'12. But based on what iI saw and felt and experienced when i went to this site day before yesterday and seems like a lot of work on common areas, clubhouse, swimming pool and lifts is pending. Still doesn't look like that it will be ready in next six months too. They sure do have some strong supporters on this blog in Geetha B [Based on her comments and specifically the last comment(flats are still available and builder offers it for less than 3200 sq/ft), She for sure looks like a mouthpiece for the builder or maybe a fake account by the builder itself] and Mr Manish Gupta (he promised a fortnightly update in Jan-12, which he didn't and even after one year there is no clue to end date and him too) who are still misguiding people for sure. Because the project is already delayed by 1 year even after the so called genuine interest of builder in project completion and would for sure take another half year at least. There are hardly (max 10) any workers at the site (on a weekday at 3:00). The guard took me to show a flat at second floor via lift and the power went off and the lift got stuck in middle... no emergency or any power backup for lifts (very interesting). There is only one sales guy handling everything and his is the only name mentioned (no mention of any regd. office or builder etc.) in their only one not so professional ppt (no printed material or project brochure), no-one has any idea who to talk/contact if he is not there. I met the construction guy and when asked him when can the project be expected to be handed over.. the construction head had no answer (amazing). Also to add to my apprehensions, my friend who despite all this tried booking, on the day when he was due to give his booking amount, they said ' possession definitely in Dec-2012, 100%'. Next day when I went to the site, the sales manager's answer was 'sir sometime next year, might be Jan, maybe Feb, March for sure'. So I have lot of doubts and questions... I mean no disrespect or passing conclusion on anyone, just wanted to share my own personal experience as a neutral buyer with you guys, (I don't belong to any group or any community or neither support or represent or have association with any project related person/bodies whatsoever). You can certainly call me to talk to me if you have any doubts regarding my opinion or thier authenticity. Thanks
Any updates on the when flat handover will start. What are they claiming now.
Also does anyone know when they are claiming for project completion i.e completing all common amenities and populating the gym etc.