DC | Soumendra Mitra | 2 hours 43 min ago
Hyderabad: One hardly comes across projects where the construction work is complete and all one needs to do is book a unit and take possession. We, however, were lucky to find one such project —Prajay Water Front Phase II by Prajay Engineers.
Located near Shamirpet, Water Front Phase II is a residential project of 500 independent units which will be launched this week. However, it is not only the early launch that appears to be a strategic aspect of this project, the other thing that attracts the home buyer is the fact that the company (Prajay Engineers) had recently announced an offer for the first 45 bookings.
As per the offer, the company will give 10 grams of gold to 10 customers who guess the right price of a unit in the project. The company will declare the names of the winners during the launch this week.
The project near Shamirpet is close to key areas of the city like Bio-Tech Park, ICICI Knowledge Park, Turkapally, Mediciti Hospital, Ratnalayam Temple, Shantiniketan School, Jain Heritage, Ivy League School and St. Paul’s School.
The amenities of the project include a garden, a pathway for jogging and cycling, a 45,000-square-feet club house, gym, yoga centre, indoor games area, badminton courts, shopping complex, cricket and football grounds, basketball court, provisions for a school and a hospital etc.
Speaking about the project’s USP and the reason behind its name — “Water Front”, Vijay Sen Reddy, managing director and CEO of Prajay Engineers Syndicate says, “We have named the project “Water Front” because it is located next to a water body called ‘Malka Chervu’.
“Water Front Phase II is the second instalment of Water Front Phase I which is a mixed development project with 1,000 units.” “Though we have not disclosed the prices due to the ‘Guess the Price Contest’, the independent houses in the project cost lower than a 2BHK unit in an apartment. Apart from the price factor, the other major USP is that the project is almost complete and bookings are open,” added Reddy.
The standard interiors in a unit comprises RCC framed structure, flush shuttered main doors, UPVC windows, vitrified tiled flooring with skirting in living, dining and bedrooms, anti-skid ceramic tiles in bathrooms and concealed copper wiring.
Debt worries
I am illiterate and not conversant in any language, except signing in Telugu. But I hold a property worth Rs 12,00,000 which was purchased in 1982. Due to health problems, I wanted to sell the same to one of my close friends for Rs 8,00,000. Accordingly, he paid an advance of Rs 50,000 and agreed to pay the remaining sale consideration at the time of executing the registered sale deed.
Meanwhile, I requested him to provide the full amount as I needed a heart surgery. My friend then paid only Rs 4,50,000 to me and obtained an agreement of sale-cum-GPA before the registry by showing the said amount as full and final sale consideration. He is now refusing to pay the remaining sale consideration as the registration value of such property is only Rs 5,00,000, which was already paid to me. He still owes me Rs 3,00,000. What should I do?
Please go through your agreement of sale that was executed at the time of taking advance. Take immediate steps through a court of law for cancellation of the agreement of sale-cum-GPA stating that a fraud was committed against you due to illiteracy. But this can only be done if the terms and mode of the said document give scope towards doing the same. Please note that the same can also be informed to your close friend through a legal notice as an opportunity to avoid further complications.
I’m buying a plot in a venture on installment basis, and I’d like to be informed about all the documents that I need from the real estate company.
Mohammed Ansari
This is a very good question, which is applicable to all prospective buyers in the present scenario. Firstly, you need to verify the layout of said venture and confirm that your proposed plot number has specific boundaries. You also need to verify if it’s been approved by government authorities.
Secondly, check the documents that include link title deeds. For example: take ‘E’ document to show that your venture owner has the title for the plot and check from the body of that document how this vendor or the previous owner, if any, had acquired the title. Accordingly, you will find ‘D’ document and similarly,within that you will find ‘C’, ‘B’ and ‘A’. This way, you can trace a continuous link from ‘A’ to ‘D’, towards the basic title of the property.
In case the plot was converted from agricultural land, you will have to verify whether or not the land was converted for non-agricultural purposes. Also, the layout of the proposed land that contains your plot should not be prior to the date of document of your proposed vendor. If that is so then the document must include plot numbers including your proposed plot. Don’t forget to verify all the link documents, and not just A to D, until you’re sure of the veracity of the title.
States: Andhra Pradesh
Located near Shamirpet, Water Front Phase II is a residential project of 500 independent units which will be launched this week. However, it is not only the early launch that appears to be a strategic aspect of this project, the other thing that attracts the home buyer is the fact that the company (Prajay Engineers) had recently announced an offer for the first 45 bookings.
As per the offer, the company will give 10 grams of gold to 10 customers who guess the right price of a unit in the project. The company will declare the names of the winners during the launch this week.
The project near Shamirpet is close to key areas of the city like Bio-Tech Park, ICICI Knowledge Park, Turkapally, Mediciti Hospital, Ratnalayam Temple, Shantiniketan School, Jain Heritage, Ivy League School and St. Paul’s School.
The amenities of the project include a garden, a pathway for jogging and cycling, a 45,000-square-feet club house, gym, yoga centre, indoor games area, badminton courts, shopping complex, cricket and football grounds, basketball court, provisions for a school and a hospital etc.
Speaking about the project’s USP and the reason behind its name — “Water Front”, Vijay Sen Reddy, managing director and CEO of Prajay Engineers Syndicate says, “We have named the project “Water Front” because it is located next to a water body called ‘Malka Chervu’.
“Water Front Phase II is the second instalment of Water Front Phase I which is a mixed development project with 1,000 units.” “Though we have not disclosed the prices due to the ‘Guess the Price Contest’, the independent houses in the project cost lower than a 2BHK unit in an apartment. Apart from the price factor, the other major USP is that the project is almost complete and bookings are open,” added Reddy.
The standard interiors in a unit comprises RCC framed structure, flush shuttered main doors, UPVC windows, vitrified tiled flooring with skirting in living, dining and bedrooms, anti-skid ceramic tiles in bathrooms and concealed copper wiring.
Debt worries
I am illiterate and not conversant in any language, except signing in Telugu. But I hold a property worth Rs 12,00,000 which was purchased in 1982. Due to health problems, I wanted to sell the same to one of my close friends for Rs 8,00,000. Accordingly, he paid an advance of Rs 50,000 and agreed to pay the remaining sale consideration at the time of executing the registered sale deed.
Meanwhile, I requested him to provide the full amount as I needed a heart surgery. My friend then paid only Rs 4,50,000 to me and obtained an agreement of sale-cum-GPA before the registry by showing the said amount as full and final sale consideration. He is now refusing to pay the remaining sale consideration as the registration value of such property is only Rs 5,00,000, which was already paid to me. He still owes me Rs 3,00,000. What should I do?
Please go through your agreement of sale that was executed at the time of taking advance. Take immediate steps through a court of law for cancellation of the agreement of sale-cum-GPA stating that a fraud was committed against you due to illiteracy. But this can only be done if the terms and mode of the said document give scope towards doing the same. Please note that the same can also be informed to your close friend through a legal notice as an opportunity to avoid further complications.
I’m buying a plot in a venture on installment basis, and I’d like to be informed about all the documents that I need from the real estate company.
Mohammed Ansari
This is a very good question, which is applicable to all prospective buyers in the present scenario. Firstly, you need to verify the layout of said venture and confirm that your proposed plot number has specific boundaries. You also need to verify if it’s been approved by government authorities.
Secondly, check the documents that include link title deeds. For example: take ‘E’ document to show that your venture owner has the title for the plot and check from the body of that document how this vendor or the previous owner, if any, had acquired the title. Accordingly, you will find ‘D’ document and similarly,within that you will find ‘C’, ‘B’ and ‘A’. This way, you can trace a continuous link from ‘A’ to ‘D’, towards the basic title of the property.
In case the plot was converted from agricultural land, you will have to verify whether or not the land was converted for non-agricultural purposes. Also, the layout of the proposed land that contains your plot should not be prior to the date of document of your proposed vendor. If that is so then the document must include plot numbers including your proposed plot. Don’t forget to verify all the link documents, and not just A to D, until you’re sure of the veracity of the title.
States: Andhra Pradesh
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