Commented on p.gautam's review
Nov 14, 2009 10:54 PM
To put it in simple terms, once you make the down payment to Purva, you are bound by their agreement terms. You will end up paying some 10% interest to the bank and the project will be delayed by 2 to 4 years. The bank will refuse to make payments after a while and you will be running between Pur...va and the bank to get things moving. In the meantime, you will continue paying interest on the released amount and will lose interest on the down payment made.
I'm sure Purva will complete the project with a 2 to 3 year delay (this is the standard delay on their projects), but you will really lose peace of mind and a few lakh rupees in undesired expenses.
Regards,
JP
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Commented on p.gautam's review
Nov 14, 2009 10:49 PM
2012 Jan? That's the strategy, you see.
I am a customer of Purva Venezia. Venezia was launched in early 2006 and the promised date of completion was June 2009. But then, suddenly in March 2009, after collecting about 80% of the payment, Purva announced a delay of 1 year. Now this 1 year is o...nly to complete the apartment. The amenities will follow only after that. So, I'm expecting Venezia to be completed only by end of 2011, which is a delay of almost 2 years.
The agreement terms and conditions are that Purva will pay a penalty of 2% or so for any delays on their side, PROVIDED the customer has made all payments on time, irrespective of the project completion status. I have now realized why they had put it in the agreement, as they have intentionally delayed sending demand letters to the bank and ensured that payments were delayed by a few days at least once. Also, for such a delayed project, the bank also refuses to release money after a while and delays are inevitable as you have to arrange for alternate sources or run around to get the bank to get the funds released.
On the other hand, the customers have to pay 24% for any delay on their side irrespective of the project status.
So the beauty (or the vulgarity) of the agreement is that after collecting the money, the more Purva delays the project, the more it benefits. The customer has no choice but to pay and wait. Even if Purva just takes the money and doesn't do any work for the next 10 years on the project, they are only liable for a 2% or so penalty from their side and the customer just has to keep paying. And this condition is in the agreement for a very clear purpose.
Now, Venezia is a high end project with the apartments costing around 60L. If this is the way they handle high end projects, I can't imagine how they are going to fleece the Provident customers.
I will really really be surprised if Wellworth is completed before 2016.
Regards,
JP
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Commented on own review
May 20, 2009 08:05 AM
skolsur, i'm trying to get some first hand information from Purva customers on the issues faced during construction and post possession. can you please drop me an email to jpalani @ gmail . com ?
thank you,
jp
Reviewed Puravankara Builders - Bangalore
May 15, 2009 12:08 AM
6858 Views
(Updated Aug 08, 2010 09:04 PM)
Puravankara has announced a delay in their project "Purva Venezia". While I haven't had any issues with the staff courtest so far, I have serious doubts on the credibility & transparency of the Purva management.
It appears that they deliberately misled the customers with an earlier completion...Read more
Commented on deepc's review
May 14, 2009 11:39 PM
Bannur & Johnsyed,
Please join the owners community at http://groups.yahoo.com/group/PurvaVenezia/. The group is in touch with Prem, the General Manager at Purva to talk about the issues with the project.
Commented on own review
Nov 26, 2007 07:32 PM
An update on the fuel consumption part - Last weekend, I drove from Blore to Chennai and got very good fuel economy on the highway.
Fuel filled : 25 L
Fuel Type: Speed Petrol
Distance covered (in city) - 80 km
Distance covered (on highway) - 360 km
City mileage - 10 kmpl (based on previ...ous experience)
Highway mileage - 21.17 kmpl (assuming I had 17L left after covering 80 km in the city)
Phenomenal highway mileage, with the A/C on most of the time !!!!!
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Commented on own review
Oct 24, 2007 10:07 PM
A quick response to the 'tik-tik-tik' sound message. I have also noticed it in other Swifts that have passed me by while walking on the street. And the service center guy said that he could not hear anything. I was starting to think if there was something wrong with my ears.
I'm not sure how this... can be solved, though.
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Reviewed Maruti Suzuki Swift
Oct 13, 2007 07:06 PM
8342 Views
It's been almost 2 years now since I bought by Swift Vxi and I am touching 10k km now - thought it would be a good time to write a review as there have been some good times and some bad times.
I own a M-800 which I think is super-reliable on Indian roads, inspite of its size. So when I planne...Read more
