Eden Gardens, Dubai Sports City

[daflanger]

Listen ppl. I checked with 2 other investments that i have that carry the same 50-50 or 60-40 plans and they told me I am still allowed to rent and even sell the apartment if I want to you after completion....

Soooooo

Lokhwandala is suffering from Cash Flow and THAT is why they are telling us we need to change the payment plan. It has Nothing to do with the Title Deed especially that they are a LEASEHOLD and not a FREEHOLD.

I am going to RERA this week to clarify all this issue and I would advise no one to sign to their changes in the payment plan cause they gave us the original 65-35 plan ... they must honor it! Simple as that

Otherwise... GIVE US OUR MONEY BACK!

[Pint of Guinness]

Originally Posted by daflanger

Listen ppl. I checked with 2 other investments that i have that carry the same 50-50 or 60-40 plans and they told me I am still allowed to rent and even sell the apartment if I want to you after completion....

Soooooo

Lokhwandala is suffering from Cash Flow and THAT is why they are telling us we need to change the payment plan. It has Nothing to do with the Title Deed especially that they are a LEASEHOLD and not a FREEHOLD.

I am going to RERA this week to clarify all this issue and I would advise no one to sign to their changes in the payment plan cause they gave us the original 65-35 plan ... they must honor it! Simple as that

Otherwise... GIVE US OUR MONEY BACK!

Nice one daflanger - I look forward to your response.

What do you suggest regarding the next payments that they are demading?

Whilst you`re at RERA, can you see if they registered our units on time?

Keep up the good work and please keep us posted.

Many thanks

[keef]

Nice one daflanger - I also look forward to your response. I think RERA the way to go at present. I did read that RERA were looking into about 350 projects & if cancelled refunds wouldnt always be full.
I'm not paying ANY plan at moment until they agree we are working to original 65/35.
I havent been told anything about withholding the deeds. They just keep saying I'm in default.
They have sent attachments explaining hold ups & state of build progress. I think they are trying it on to obtain more funds due to poor lending by the banks.
Please keep info coming.
Keef

[uaerealdeal]

Hello Friends,

Recently visited the site of Eden Gardens, atleast some progress has been made in respect to preparation of site and I have taken some photographs of the site for all you guys who have been from god knows how long waiting for some updates....

Take Care Cheers...

P.S. I think the recent development of construction linked payment plans would work well since if no construction then no payment, so it goes both ways... whereas before in time linked payment plan even if no construction and you payment due as per time happens and you don't pay you are considered defaulter... then all the story begins of requesting and fighting and etc... I am strong believer in Construction Linked Plans since that it how I personally feel it should go...

Attaching 9Photos as Set 1 and Another 8 as Set 2 in my next post...

Regards,

UAEREALDEAL

[uaerealdeal]

Hello Friends,

As Promised here goes photographs Set-2

Regards,

UAEREALDEAL

[cyrus]

i have bought one bad room apartment in german sport city in german sport tower 2 ,they said it comlet in sep 2008 but dont start yet .i heard that we wast our money,all of them commite crime and scape from dubai.if some one decided to take an action inform me please

[daflanger]

Every Sunday from 12pm to 2pm, Dubai Eye 103.8 has a radio program on Property. They invite lawyers that work directly with RERA. So today I called them and I told them about our situation and guess what:

Our property is FREE HOLD!

Also Eden Gardens should be registered with the Land Department so we have to go there and check

As for the payment plan..... ho ho ho!!! They CANNOT under any circumstances change the payment plan without our approval and they MUST follow the original payment plan of 65/35. Also we can rent or sell the apartment as we please. This was ALL said Live on Radio... so we should NOT agree to the changes... this is coming from a Lawyer direct on National Radio....

Peace out!

[Pint of Guinness]

Originally Posted by daflanger

Every Sunday from 12pm to 2pm, Dubai Eye 103.8 has a radio program on Property. They invite lawyers that work directly with RERA. So today I called them and I told them about our situation and guess what:

Our property is FREE HOLD!

Also Eden Gardens should be registered with the Land Department so we have to go there and check

As for the payment plan..... ho ho ho!!! They CANNOT under any circumstances change the payment plan without our approval and they MUST follow the original payment plan of 65/35. Also we can rent or sell the apartment as we please. This was ALL said Live on Radio... so we should NOT agree to the changes... this is coming from a Lawyer direct on National Radio....

Peace out!

Well done daflanger - you`re a star!

So how do we now get Lokhandwala to acknowledge and more importantly, agree with this? Also, as I`ve mentioned before, I`ve been told that they registered our apartments late with RERA/Land department - could you also please check this as it automatically means we can get our money back.

Finally, who was the solicitor? Maybe we could employ him....

Thanks

[keef]

keef

many thanks daflanger, glad to hear this news, will be interested to see if eden gdns registered ok,although we do not necessarily want our money back,completion would be nice!! whats worrying is if they are pushing for extra money in this way,are they likely to be able to complete,they have told us they see Eden Gdns as not viable due to the delays and increased building costs,however they have pledged to finish development.

[uaerealdeal]

I second keef's thoughts that would rather prefer them completing the project...

Infact that is precisely the reason why I am more inclined towards the construction linked plan since if there is no progress then no payment, but in time linked plan even though no progress is there if you don't pay-up technically we become defaulters, even though we can say that there has been no progress that is why we did not pay etc etc etc but in case of construction linked plan there will be no ambiguity in anything... they construct you pay, they dont construct you dont pay....

What say... guys please feel free for your opinions... infact please go for it with as many suggestion and solutions we can come up with...

Regards,

UAEREALDEAL