Mira Road - Pathway Developers

[dan smith]

has anyone else bought into the mumbai mira road through pathway properties?

[nba004]

Hi, yes me to!! have you been in contact with them recently, the web site has closed and i think the London office will close soon!! i have a bad feeling about this can you give me more details.

Nigel

[dan smith]

Originally Posted by nba004

Hi, yes me to!! have you been in contact with them recently, the web site has closed and i think the London office will close soon!! i have a bad feeling about this can you give me more details.

Nigel

Hi Nigel

looks like we have bought into he same developments Astrum and Mira Road. I am also a little concenred about mira road. I spoke to Nirmala about a month ago to get an update and photos. I mentioned that the site was down and she said they were having technical issue??? Anyway she told me that the development would be postponed till 2010 due to the state of the property market in india at the moment and that investors currently in would prefer this anyway. She assured me that the money already invested was ok??? They have other developments which they will be ploughing ahead with i.e. the shopping centre in Gurgeon. As was stated in our contract they would have to pay us interest on our money from 2009 onwards till the development is completed. She said her boss was putting together a pack and letter for investors. As this has not been forth coming and they have not replied to my emails last week, I will call her on Monday. Perhaps you should do the same 020 74839348. I think the website being down is not a good sign. Nirmala is a nice lady, so I had no reason to doubt what she said last time - lets see what she comes back with...why do you think the london office is closing down?

thanks for your reply..best regards..will keep you posted

Dan

PS Do you think Astrum will rent out easily?

[dan smith]

I have just spoken to Pathway all is ok..the website should be up and running again. All monies are in an ESCROW account..therefore ringfensed..they are waiting for a bounce in the market before giving a completion date (thing that will be a while). Give them a call on the number I provided

[nba004]

Originally Posted by dan smith

I have just spoken to Pathway all is ok..the website should be up and running again. All monies are in an ESCROW account..therefore ringfensed..they are waiting for a bounce in the market before giving a completion date (thing that will be a while). Give them a call on the number I provided

Hi Dan thanks for the information, i have spocken to Mirmala but do not feel reasured quite the opposit infact, words are cheep so repeating them makes no differance, i wrote my cheque out to Parthways so i do not know any think about an 'Escrow' account, i wish i had used a solicitors now, and that 'due dilagence' had been completed, as far as i am concerned we own the land that this development will sit on and this should be our security, i want to look for a solicitor to look in to this, will let you know how i get on.

Nigel

[dan smith]

Originally Posted by nba004

Hi Dan thanks for the information, i have spocken to Mirmala but do not feel reasured quite the opposit infact, words are cheep so repeating them makes no differance, i wrote my cheque out to Parthways so i do not know any think about an 'Escrow' account, i wish i had used a solicitors now, and that 'due dilagence' had been completed, as far as i am concerned we own the land that this development will sit on and this should be our security, i want to look for a solicitor to look in to this, will let you know how i get on.

Nigel

Anything concrete would be greatfully received..thanks Dan...
Are you more confident about Astrum - Strong rental potential?

[nba004]

Originally Posted by dan smith

Anything concrete would be greatfully received..thanks Dan...
Are you more confident about Astrum - Strong rental potential?

Yes Regnum and Astrum towers is fine, was out there Xmas met sereval people shown round and look at the quality very impressed, all the devlopment sold out and any apartment coming on to the maket is let out, Istanbul is a mad place, you need to contact Imison to get the 'Millitry clearance' under way, apartments will be delivered in June.
Nigel

[dan smith]

Originally Posted by nba004

Yes Regnum and Astrum towers is fine, was out there Xmas met sereval people shown round and look at the quality very impressed, all the devlopment sold out and any apartment coming on to the maket is let out, Istanbul is a mad place, you need to contact Imison to get the 'Millitry clearance' under way, apartments will be delivered in June.
Nigel

thanks for that:

drop me an email at Dansmith70@hotmail.com and i will forward what Pathway just sent to me. Glad to hear Astrum is ok, one less headache. Already got the military clearance underway. cheers Dan

[Brianstuart]

Hi,

I've bought into the Mira road development. I have to say I am a bit disappointed to note the lack of feedback as to the project's schedule. From your comments here I get the impression a decision has already been made to delay completion until 2010 and yet I doubt investors have been told.
Their 11th hour office move and loss of website and email does seem to be severe cashflow problems which is very worrying.
Does anyone know if development has actually started ?

Brian

[first timer]

Originally Posted by Brianstuart

Hi,

I've bought into the Mira road development. I have to say I am a bit disappointed to note the lack of feedback as to the project's schedule. From your comments here I get the impression a decision has already been made to delay completion until 2010 and yet I doubt investors have been told.
Their 11th hour office move and loss of website and email does seem to be severe cashflow problems which is very worrying.
Does anyone know if development has actually started ?

Brian

..........