Lake SIgnature in Ajman

[rudeboy]

does anyone have any good news or bad news about Lake Signature and its developer Gr8holdings?

I have been offered 480 dhs / sq ft for a 520 sq ft studio. any comments?

[Antony]

The developer is GR8 Holdings but the Master Developer and the one doing the building is Chapal - they are excellent, very well renowned, and have delivered some high quality projects. The developer is charging a rate of nearly 600 so I have no clue how you are getting that rate. I would be very very wary if I were you!

[vinny]

anyone else looking to buy in lake signature? i have a 1 bed and am very happy with it but am looking to sell it on now.

[verity]

Originally Posted by rudeboy

does anyone have any good news or bad news about Lake Signature and its developer Gr8holdings?

I have been offered 480 dhs / sq ft for a 520 sq ft studio. any comments?

Hi
LAKE SIGNATURE 1- Emirate lake towers- Ajmanhave you bought the studio ? through which Agent ?
have you received SPA Contract from GR8 ? AND
have project started on site?
GR8 have they got Ecsrow account (under Decree 8 )?let me know- as I also bought studio in L.S
but am worried it is fake project
v

[verity]

Originally Posted by vinny

anyone else looking to buy in lake signature? i have a 1 bed and am very happy with it but am looking to sell it on now.

Hi
is it lake signature 1 in Lake Towers-Ajman ?
What size, price, floor, aspect is it ? How much % you paid so far ?
includes parking space ?
thanks

[dalton Ice]

hi!!!
i got a 1-bedroom +study unit in Lake Signature - 1 exclusive of free parking space, i had to pay for that!!! Got my unit on the 14th Floor bought from GR8 only....I have had no issues except for the SPA (Sale Purchase Agreement) which was to be handed over to us in November however, i got mine just 2 days back in my mail. I have paid more than 35% of the sale value!!! should i worry abt anything!!!kindly get back to me!!!
dalton!!

[fracas99]

anyone who bought in Lake Signature, Ajman , please advise any updates or progress as to this project. I have invested in a unit here, and I am extremely worried based on the posts here.

[dalton Ice]

well i contacted GR8 holdings, they say they shall commence with construction work in a matter of few weeks. they also say they are in the process of setting up an ESCROW account although so far Ajman emirates has no such rules. I compared the copy of the SPA i received from them with another copy of an SPA provided by another developer, the terms & conditions are very similar in both, i guess the format is standard for all these SPAs. Anyways i still havent gotten any negative vibes from them!!! However, i would contact them in person just to be sure.

[financier888]

Originally Posted by dalton Ice

hi!!!
i got a 1-bedroom +study unit in Lake Signature - 1 exclusive of free parking space, i had to pay for that!!! Got my unit on the 14th Floor bought from GR8 only....I have had no issues except for the SPA (Sale Purchase Agreement) which was to be handed over to us in November however, i got mine just 2 days back in my mail. I have paid more than 35% of the sale value!!! should i worry abt anything!!!kindly get back to me!!!
dalton!!

Hi Dalton - if you were given a free parking space when you first purchased, and this is in writing in your original purchase agreement - then you should advise GR8 that this was a term and condition of your original purchase and if they don't honour it - they are in breach of contract... PROVIDED this free (1) space is included in your original purchase agreement..

good luck

[financier888]

Originally Posted by dalton Ice

well i contacted GR8 holdings, they say they shall commence with construction work in a matter of few weeks. they also say they are in the process of setting up an ESCROW account although so far Ajman emirates has no such rules. I compared the copy of the SPA i received from them with another copy of an SPA provided by another developer, the terms & conditions are very similar in both, i guess the format is standard for all these SPAs. Anyways i still havent gotten any negative vibes from them!!! However, i would contact them in person just to be sure.

There are regs for escrow provisioning in Ajman BUT until Ajman gets their version of RERA operational - it's meaningless - as you need 3rd party enforcement / supervsion to make an 'escrow' acct work as it is structered in Dubai.... Otherwise, it's just another account that the developer can take down funds at will without any accountability..... be carefull..