Invested in Prestige Silver Crest

First topic message reminder :

Hi All,

I have recently bought a 3 bedroom property in Prestige Silver Crest. The intention for creating this forum so that people who have already invested in prestige silver crest or planning to do the same can connect and share the concerns etc.

My email id is ggupta1@gmail.com

Thanks
Gaurav Gupta
ggupta1@gmail.com

Hi Gaurav,

Thanks for the reply. This is some relief. I think that is the best thing to do now. We better not make the balance payment unless they give us the proof that there is no litigation with the land. Is there any place where we can check with that litigation number ?? I mean in BBMP office or some place? Other wise we still have to believe what they say without any proof.

Regards
Sudha

Hi All,

Even i spoke to Neeraj ( prestge sales execuitve) he told me that the matter has been sorted out recently.he also promised to provide me the legal proof in 1 week for the same. we can verify it by our attorneys as soon as we get some legal proof. In the mean time am also leaving a mail to Komal who is the concerned person for us regarding all the matters of PSC . She told me that she will speak to higher end peopl about this and will let me know ASAP.

Regards
Rashmi

I am thinking on the same lines as Gaurav. We need to get some concrete clarification that there is no litigation now on the property. Only then we will be confident of paying the remaining 15% and presenting the PDC's.

-Vikas

hi guys,

I too spoke to Niraj today morning. He assured that he will be speaking to the legal department and sending us some sort of confirmation in a few days time.

I have also sent a mail to Komal regarding this issue.

Prestige holds a great goodwill and reputation in the market. Hopefully they will sort this out at the earliest.

Regards

Nisha

Did anybody got update from sales team about the launch date and confirmation about the litigation issue? I tried to reachout to the sales team, but did not get any proper answer.
Are we going ahead with payment for 15% along with the PDCs by 17th March?

Hi,

The Marketing/Sales team said that there is no litigation on the property and the posts on the ( Old survey no and mobile number ) at the Site will be cleared off. They did not promise any legal documents on this matter and will provide the complete set of documents once approved by Govt. However, Govt seems to be delaying the approval.

For now, I am thinking of going ahead with pending payment of 15% before 17th. However, I would really be concerned if we do not get any documents by end of this month. Because as per the Excel sheet the next payment is due by April 10th.I am expecting that we should atleast get all legal documents by end of the month and agreement with Prestige should be complete.

As per my discussion with SBI, they are willing to discuss with the builder and do the legal verification as part of the project approval process. They would approach Prestige directly for this project.

Any other thoughts/ suggestions are welcome.

Regards
Vikas

Investman wrote:Did anybody got update from sales team about the launch date and confirmation about the litigation issue? I tried to reachout to the sales team, but did not get any proper answer.
Are we going ahead with payment for 15% along with the PDCs by 17th March?

In another A-builder project, the land litigation kept going and took lot of time.

We should get some legal proof clearence doc from Prestige.

Hi All,

I think we should not pay the rest of 15% until we get some legal proof which calrifies the litigation on the property. I would urge everybody to do the same.

Regards
Gaurav

1) Today I saw construction activities next to the PSC plot which belongs to MS R. I could see that Kalyani Tech park started the construction there. So our neighbour would be another IT firm!

2)As per economic times :
This is in today's ET and they are comparing reality builders with DLF.. Not sure why the sunnyside is not take off so far, which started 6 months back.. Not sure if this news is true or not
Prestige Estates

--> Prestige Sunnyside Residential Project in Bangalore yet to take off


http://economictimes.indiatimes.com/markets/real-estate/realty-trends/are-cracks-in-dlf-alone-or-is-real-estate-sector-suffering-from-strategic-mistakes/articleshow/12213254.cms?curpg=2

Hi frns,

I really want to understand the concerns raised in this forum are to be worried about? or they are just out of panick!!!

1. We have all seen the land adjacent to PSC, and if an IT firm is built there is it a cause of worry?
Prestige Shantiniketan has IT firms in its own campus and so is Brigade and many more builders....

2. Is Prestige really in trouble?
What is the basis of all these talks I want to understand...are all folks on this forum share the same sentiment?

To update you all, I have spoken to Prestige people and they have agreed to delay the recival of PDCs till they have all the approvals and legal documents of the land in place.
You guys also talk to them and decide what best we can do.

Once we have the approvals, I do not foresee any other potential threats to PSC.
Do you guys see anything?

Cheers,
Rahul

Hi Rahul,

Good to know that Prestige have agreed to delay the PDCs recieval till they provide legal documents. Have you also delayed the 15% payment?

-Vikas

YashuRahul wrote:Hi frns,

I really want to understand the concerns raised in this forum are to be worried about? or they are just out of panick!!!

1. We have all seen the land adjacent to PSC, and if an IT firm is built there is it a cause of worry?
Prestige Shantiniketan has IT firms in its own campus and so is Brigade and many more builders....

2. Is Prestige really in trouble?
What is the basis of all these talks I want to understand...are all folks on this forum share the same sentiment?

To update you all, I have spoken to Prestige people and they have agreed to delay the recival of PDCs till they have all the approvals and legal documents of the land in place.
You guys also talk to them and decide what best we can do.

Once we have the approvals, I do not foresee any other potential threats to PSC.
Do you guys see anything?

Cheers,
Rahul

I had paid 14% of the amount. I am not paying the balance till I have legal documents and approvals

Hello,

I got to know from prestige executives that project approval might be delayed for more than month from now. This means that loan approval, PDC's and any further payments will also be delayed.

-Vikas

YashuRahul wrote:I had paid 14% of the amount. I am not paying the balance till I have legal documents and approvals

Hi All,
I visited Prestige office on 17th and had discussion with Komal. She said,Prestige is ok if I dont pay the balance of 15 % till the time approval comes.She asked me to drop to her official mail id mentioning that i will pay the amount once the approvals are in place.
I would like to know if somebody else has also got the similar answer ?

Yes, We have also got the same response....and I have sent an email to Komal saying i will paying the rest of the 15% amount and the PDC's only after the approvals are in place.

Cheers,
Rahul

Any new developments or updates on PSC?

Cheers,
Rahul

Prestige is asking to pay remaining 15% booking amount (though legal & approval doc are not ready) to get allocation letter
PDC can be hold as of now.

varun wrote:Prestige is asking to pay remaining 15% booking amount (though legal & approval doc are not ready) to get allocation letter
PDC can be hold as of now.

Dear All,

We received the allocation letter for our flat yesterday.
There is still 1% balance amount remaining from us. And we are yet to give PDCs.
We had already informed Prestige that we will not pay the balance until we get approal docs.

Rahul

Hi All,

I have not paid my balance of 15 Lacs as well as the PDC yet.
Has anybody paid and given the cheques to Prestige? I am still waiting for the confirmation around litigaton from them.

Thanks
Gaurav

No communication from them so far. I had a discussion with the female who is our SPOC and she said that we might have to wait for another month because it is stuck with approval authorities. So far, I haven’t paid the balance of 15% as well. Unsure, how long this will take.

Regards,
Rahul.

gaurav wrote:Hi All,

I have not paid my balance of 15 Lacs as well as the PDC yet.
Has anybody paid and given the cheques to Prestige? I am still waiting for the confirmation around litigaton from them.

Thanks
Gaurav

I beleive most of them has paid 15%???Got email from Komal saying no litigation,,,,How far this true...Not sure

there is another project Silversun by Prestige near sunnyside offered at 4400.

With the confidence they are proceeding with so many projects, hopefully all should be well with our project?

Cheers,
Rahul

Hi

This forum is very informative for me as i am planning to book a 3BHK at Silver crest tomorrow and your opinion will help me a lot as a deciding factor for booking at Silver crest.

As few members spoke to Prestige team regarding legal documents of this property, I would like to know if anyone got the same. I believe their reputation is very good and they may not cheat us, but my concern is, these issues may delay the project in which case the buyers suffer a lot.

So, please let me know if you have any information on this.

Thanks in advance
Barsa

Hi,

We have also booked a 3bhk in PSC. Still we have not paid the 15% payment. Yesterday i saw that the launching shortly message that was there in the Prestige website for PSC has been removed ?? Has any one else seen this ? What does this mean ? Is there any news from them on this ?
Its kind of worrying now as its 3 months since we paid them the down payment. Still there is no news on the documents or the launch date.

Regards
Sudha

Hello Sudha,

I noticed that as well. 'Launching Shortly' notice is now removed. This may mean that they have booked 100% or else there's a serious issue. We have not paid the remaining amount as well.

househunter wrote:Hi,

We have also booked a 3bhk in PSC. Still we have not paid the 15% payment. Yesterday i saw that the launching shortly message that was there in the Prestige website for PSC has been removed ?? Has any one else seen this ? What does this mean ? Is there any news from them on this ?
Its kind of worrying now as its 3 months since we paid them the down payment. Still there is no news on the documents or the launch date.

Regards
Sudha

Can we contact Prestige to ask them on the progress?

They had told something should materialise by April End.

This is April End. Why the message is removed?
i am feeling like we are just being kept in dark by these fellows....

No Cheers,
Rahul

when I asked Prestige I have been told that by mid of May, they will recieve all approvals. I don't know if they are planning for May 2013 :-(
Looks like they launched this project to show some sales in thier 2012 Jan-Mar quarter results.

Hi,

Last week, when we met the chief person responsible for PSC in prestige group. He was very sure that he should be able to give the legal doc & agreement paper in a day or two.
And today when I called after (7 days), to know when I can collect the document. He did not gave any certain reply.

So now there is no clarity.
And somehow I feel there is something fishy ( Not Okay).

we all should be now AWARE.

Regards,
Varun

Hi all,

Reg the launching shortly issue... well i checked now and its back on their website... might have been an error while site updation..

Reg the approvals confirmation ... well i too had tried to reach the executives but so far have not got any concrete dates or confirmations as to by when the project will be launched officially... the answer was "sometime 2nd week of may or mid may"...

http://www.prestigeconstructions.com/whats-new.php


Regards

Its May now ( three months since down payment ) and I am also concerned about the long delay by Prestige in getting the approvals and launching the project. Till now, there is no concrete overall plan for the project. I visited the site a week ago and there is no sign of any change since my last visit. The posts related to Old survey number still remains and has not been cleared on the site. There is no sign of any construction activity.

Prestige executives state that approvals might be through by mid-May. But there is nothing concrete in their reply and no legal verification about litigation. Atleast they could have given us the legal documents about the property. BBMP approval documents could be given later instead of a single bundle of legal and approval documents.

Also, question is how long could we wait without any information? Perhaps, we should all approach together .

-Vikas

nishabhishek wrote:
Hi all,

Reg the launching shortly issue... well i checked now and its back on their website... might have been an error while site updation..

Reg the approvals confirmation ... well i too had tried to reach the executives but so far have not got any concrete dates or confirmations as to by when the project will be launched officially... the answer was "sometime 2nd week of may or mid may"...

http://www.prestigeconstructions.com/whats-new.php


Regards

The interesting part for us is, since there is no formal agreement signed.
So there is no finalized date for completion of project, hence no one can determine the delay in project. At the same time prestige co has taken down payment amount (15%).

Atleast for those of us who had paid 15%, should now insist for formal agreement as all the required things from their end is done.

Hi All,

I feel it would be better that we all go together to the Prestige office. Lets plan to go to prestige
office this weekend, maybe on Saturday if it works for everybody.

Regards,
Remya

H Guys,

Any updates? Remya did you go to Prestige office?

Regards
Gaurav

remya_S wrote:Hi All,

I feel it would be better that we all go together to the Prestige office. Lets plan to go to prestige
office this weekend, maybe on Saturday if it works for everybody.

Regards,
Remya

yes.. We should all go to the office and discuss the same..
I have spoken to Komal on this..Her response was very poor...She said "I really not sure when approval will get in place.."............But Prestige will never cancel this project...She dont want to give any timeline on approvals...
This is really worrying us..

Please let us know when we can go to prestige office???I am going next Saturday..Anybody is interested?

Looks like we all give interet free loan to Prestige.. No update on project approval.. I visited the proposed site yesterday, it remais as usual- a colony for construction workers :-(

Hi,

I got an email on May 14th from one of the sales managers that the Approval has been received for this project.

Hope this helps!

-J

Frens

I received a CD which has scanned copy of legal documents today. Did anyone else receive the same?
Most of the text btw is written in Kannada and hence i am not able to read anything since I don't know Kannada. Anyone who can read Kannada please verify if the documents are all good in case you received the same. Also anyone has any lawyer who is in a position to verify the documents?

Thanks
Rashmi

The CD contains the sale deeds of the property. I think they shared this info to clarify the issues related to legal issues raised about the ownership of the property.
But the BDA/BBMP approvals for starting construction is still pending. Not sure when they will get all these approvals and when can they start the construction.

Hi All,
We have received an email stating that PSC project has been approved by BBMP. Also it was highlighted that construction is going to start soon. Did any one receive the same ? If yes, anybody confirmed the same by contacting Prestige? I am trying to reach them daily, but no success

Thanks,
Yogi

Hi All,

We also have got the same email. After getting that email, we spoke to Komal who told us that it will be almost August end to get all the document from BBMP in hard copy and get the agreement going. After that only the construction will start there.

Has anybody got the land docs verified for this project which was sent by them in CD?
I contacted few advocates but everyone was asking hard copy.

Thanks,
Rahul.

Yogi_223 wrote:Hi All,
We have received an email stating that PSC project has been approved by BBMP. Also it was highlighted that construction is going to start soon. Did any one receive the same ? If yes, anybody confirmed the same by contacting Prestige? I am trying to reach them daily, but no success

Thanks,
Yogi

Hi All,

I have got a mail from a dealer for PSC, so did some googling. Found this forum most useful and informative for PSC. I am outside India so need some help before booking:

Project Related:

1. Have all the approvals been procured?
2. Is the project surronded by tall buildings [residential/commercial] ?
3. I read on the forum that the cheques has to be in the name of Hi-tech, is it still the case or it has changed now because the approvals are in place? Why PDCs are required?
4. Who is the PoC/SPoC for the project, please pass the contact no. too?

Specific Flat Choice related:

5. Has anyone booked the flats with land like B1, J1 etc? Why the rate for land is same as construction? What do you say the one with land is better or the one without? I don't prefer the ground floor but it is luxury to have garden/ terrace as such.

Thanks in advance.
Any pointers will be very helpful.

Regards,
DSG

ICICI has started giving loans for this project and I am thinking of going for icici rather than waiting for SBI. I visited the site last week and the escavation work is going on. They have put up the board with all details of the project and I assume that all legal issues got sorted out and project is on track now.

Hello All,
has anyone secured loan from SBI?

hey Investman - did you try securing the loan from SBI?
or
was it the case where you didnt approach SBI as SBI hasnt approved the project yet?

another question - has anyone else paid any instalments yet?

Thanks
Naresh

As per Komal, the approval from SBI is in last stage :-(
so decided to go ahead with ICICI as they have disbursed few loans for this appt