Lake View Tower projects
Hi Everyone.
I'm pretty new to this game, so after reading this Forum and as much as i could about EC-projects especially, lake view tower projects, I found out that they are offering some investors/clients the chance to re-schedule their payment plans and in some cases tie the payment plan to construction progress. This all depends on which tower you have brought in. From my understanding if you have brought in LVT 1,2 or 3 you can reschedule your repayments. No idea about LVT4+5. Can anyone shine some light on that??? I did call my real-estate agent who confirmed this. However I was unable to attend a meeting we had arranged later that week, so I'm uncertain if LVT4+5 qualify for reschedule payment plans. Hopefully later this month i will meet with real estate agent and get some more information on this topic. I also called the Lake View Real Estate office in Dubai and got these numbers for anyone who's interested. I was surprised how the receptionist just threw these numbers at me, when all i was doing was making a general enquiry.
The Engineer responsible for LVT 5 Hugh or Hugo +971 50 1402065 and Mr Ziad accounts dept. +971 50 986747
If anyone has anything to add pls do.
all the best.
Lake View Tower 4
I have contacted them regarding LVT4 payment plan but they refused to offer me any delayed payment plan.According to them this option is not offered to any LVT4 and LVT5 investors.
This is stupid.... LVT 4 and
This is stupid....
LVT 4 and 5 should also be rescheduled...
thanks for the numbers.....
I've asked the developer and my agent and they keep insisting that the LVT 4 and 5 will both be finished on time ....so just basically shutup and keep paying the installments...
I'm actually going today to wire the 9% today.....
I've alreayd payed more than 50% and not contsruction has started.....expected complete date is 2010 December...
I don;t if they can finish everything in less than 2 years.....
Can someone else who owns
Can someone else who owns LVT 1,2,3 confirm if they have rescheduled your payment plans ???
I hope LVT 5 can also be re-scheduled.
LVT1 Payment Rescheduling
Mr AShaikh,
They have agreed to reschedule for me regarding LVT1 flat but the plan is still in working....it may finalise by Feb-March 09.
Regards
I dont know ...
I can't answer you ashaik just because they don't inform me. I called them, i send many mails, but no response. i don't know if my paiement plan has changed...
Hi Has anybody received any
Hi
Has anybody received any news/updates from LVT 5 about these Escrow accounts and do we still make the next payment (due end of feb) if they haven´t inform us of thr new escrow account number. Can they still cash our cheques even if ARRA informs them not to take money from investors until escrow account is set up???
It is better to hold the
It is better to hold the payments after sending the developer a fax/email and getting their consent.
Then withdraw your money from the bank account.....so they will not be able to cash the cheques and u can sleep peacefully.
Email them at sohail@thelakeviewuae.com
Mobile no: of Mr Sohail Ghani 050- 5015350
Escrow account opening is in process. Even then we will have to restart payments to Escrow account in line with site progress....this should be discussed with developer.
Regards
Lake View Real Estate
Dear All,
If the developer has your cheques then it can very well encash them on due dates. There is no clear-cut regulation from ARERA in this regard. ARERA is still struggling to get all the developers of Ajman to get registered with ARERA. Until this happens, ARERA has no control. Furthermore, LVRE is not honouring its commitments to the buyers to whom it had offered to defer the payments. They were not supposed to submit my cheque for January 2009 but they did it and the cheque was encashed. When I spoke to Sohail (Admin Manager), he told me it would be refunded to my account. Despite my repeated mails on the same subject, it has not been done. The cheque was encashed on Jan 16. Sohail has even stopped replying to my mails. Moreover, I know one gentleman who was also promised with me to defer the payments from Jan onwards till further notice. For him also they submitted the cheque but it got bounced due to insufficient funds. He contacted Sohail as well as Accounts, he was told that they would refund the AED 100/- penalty, instead they resubmitted the same cheque again and it got bounced again, another AED 100/- was charged as penalty by the bank. Yesterday, he got a letter from the developer stating that either he pays the insstallment or else be ready for court case.
Can anyone throw some light on the legality of their court case claim. I believe, our developer is registered in Dubai and is operating from their. It has no escrow account and seems to have no plans to get one. Can it fight a case in Dubai jurisdiction for an Ajman property? If yes then can, having no escrow account, be challenged in Dubai courts as Dubai requires an escrow account.
Please advise.
Thanks
Ramender
Mr Ramender, Escrow account
Mr Ramender,
Escrow account for LVRE is under process.
Their old emails are not working as website was hacked.
New email sohail@thelakeviewuae.com
It is better to incur a 200 Dh loss than let the cheque be encashed. If you have their written consent to hold the cheques, then try to go to their office and claim a refund.
regards