APARTMENT AVAILABLE FOR SALE IN B-14 RAINBOW TOWERS @ DH 30,000/- LESS THE PAID AMOUNT
2 Bed Room Apartment for sale in B-14 Rainbow Towers at DH 30,000/- less the paid amount. I have been regular in payments uptill now, next paymnet due on Feb 01, 2010. The builder is sweet homes and registered with ARRA and have an escrow account. Price includes carparking as well.
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slow progress
We left the UAE in July and visited the site before we left and saw that it was at floor 20 so were quite pleased. I logged on to the site tonight to see that no progress has been made at all since and reading that all materials have been removed from that site really worries us.
I am interested in buying
I am interested in buying this. Please let me know how much it costs.
real estate investing
The total cost of the
The total cost of the apartment is uae dh 428,131/- to date i have paid uae dh 244,426/- i can offer a discount of uaedh 70,000/- i,e u will have to pay me uaed 174,426/- and then u will be paying quarterly installments to Sweet homes. The apartment will cost uae dh, 358,131/- This apartment is on the 7th floor of Rainbow Towers B-14, its a 2 bedroom apartment and the area is 1031 sq.ft. The apartment is park facing and the cost includes 1 parking space. In case you are serious pls email on shbmuj935@yahoo.com for further details
2 Bedroom apartment for sale in Green Lake Tower 2
2 Bed Room End-Unit and Lake Facing Apartment for sale in B-19 Green Lake Towers at DH 325,000/- (75,000 less the paid amount). I have been regular in payments uptill now. The builder is Ajman Land Properties and registered with ARRA and have an escrow account. Price includes carparking as well.
sweethomes may offer new
sweethomes may offer new payment plan keeping 20% at handover and remaing 30% for people paied 50% over 2 years -end of 2011 as i got it today after visiting the office in dubai ,also visited the site -- some workers in rainbow towers and paradise lakes seems SH the only one working most of emirate city is a ghost city, contact shalin in dubai office for details ,for me i m confused between cancelling the contract retaining 50% which will not be refunded at time being or i will accept the new plan
sweet homes may offer new
It is not clear from your posting what the revised terms of payment are: Do you mean those who have paid 50% of the total cost, can pay the remaining 30% spread over 2010 and 2011, and the final 20% on completion? Also, roughly how many workers did you see engaged in construction activities at the Rainbow Towers and Paradise Lakes sites? Enough to complete the projects by end 2011 at the current pace?
realy not too much
realy not too much workers arround 20 in each project of sweethomes , but about the proposed payment plan ,they asked me send requst through e-mail and they will accept it by keeping 20% for handover , but i didnot send them anything since im confused wheather to leave my money and go or carry the risk and cintinue even with laxed easy payment plan , i dont trust ajman gov, SH bec they can stop at any moment leaving u with 80% paid without handover , any openion is appreciated!
realy not too much
The revised payment schedule is, in any case, linked to construction. So if you are being asked by Sweet Homes to pay 20% on handover, and the remaining portion in construction milestone-linked payments spread over two years (if my understanding of your case is correct), I suppose it is better than all the other available options.
50% payment only until the projects completion
The developers had the following payment plan in their Reservation Contract (and so much popularized in leading newspapers).
Payment upto 50 % of the value until the projects completion,
25% upon delivery,
and the remaining 25% after handover.
Now the ESCROW account in place must strictly enforce this plan, as 50 % payment is supposed to be after completion.
ARRA being a regulatory body needs to enforce the original agreement.
SINCE SWEETHOMES HAS FAILED TO COMPLETE IN TIME, IT IS SUPPOSED TO COMENSATE THE INVESTORS FOR ITS DELAY. INSTEAD THE DEVELOPER IS ASKING THE INVESTORS TO PAY 80% INSTEAD OF 50%. THIS COMES NATURAL FOR A DEVELOPER EXPERIENCED IN CHEATING. Why the developer is not coming out honestly with its failure, even after being exposed of its deeds in their numerous interaction with the investors? Investors in this site have done a good beginning in talking to each other, but this is not good enough, we have to take it up to ARRA the governing body for justice and compensation. The developer even with his poor progress is shameless, rude, and waiting for another grab opportunity.
i think bec many
i think bec many investors stopped paying which was very effective step made SH as developer was not listening to us ,4 months back i with some investors to main office asking for fair payment linked constr. plan or discount to avoid stop paying but they refused ,now they are nearly begging us to accept the new plan , they offered 10% for handover but i insisted on 20% they will study and mostly they will accept bec there is no solution , SH putting 5% penalty monthly for delayed installments , i asked SH some ? befor start posting positive things to public 1/ i ask to keep 20% with keys handover instead of 10% for finencial and security reasons 2/ sweethomes must put expected date of completion and what compensation i get if more delay in handover --- it can not be open end , bec SH clearly mentioned if buyer defaulted he will pay......., same for SH ,3/it must be mentioned that 80% when reach 23 slabs plus 1 ground plus 4 parking slabs =28 floors . 4/ what the company can tell us about infrastructure ? how investors can pay huge amount of money for property in the desert without any kind of infrastructure 5/ can SH offer consolidation between investors such 2 investors in one flat this is suitable for people who are finencially brock? 6/ what about property registration in ajman land department ? im waiting for thier replay
every one can contact
every one can contact shalin for details , we also must think caerful to protect our money , let us be realistic .... there is no refund bec money gone to gov family for land and 11-13- slabs of work ,either we leave what we paid or negotiate with the developer , in my contract there is 50% refund in case of cancellation but they have no money and they will not give it in smooth way---> court + laywer expenses ---> how much will be left after few years in court?