Ferrous City Sector 89 Construction updates, Reviews, Resale discussion

[arun_aryan]

Hi All

I visited Ferrous phase-1 site yesterday and found that work is in progress and there is one or something happening in each and every tower. Mr Pradeep Sehgal is currently the site incharge there and upon question regarding the progress of work and possession, he told me that the possession of D tower will be given in Dec-12 and after wards in April13 most of the towers will be done. The construction is in full swing and Mr Pradeep is checking each and every vertical and quality of that, Please don't expect that quality of construction we can achieve when we get our home constructed in our presence.

Thanks
Arun Gupta

[ankmat]

Hi guys,

I am newbie to this group. I also invested in Ferrous City Phase-1 and was visiting the site regularly till last year when I moved to bangalore.
For past few days I am getting calls from the property dealers about buying my property but only at the at par price. I was not getting any calls earlier.

Can someone let me know is something has changed in the status? I called up Ferrous office and came to know that possession will start from December(block D) and subsequent ones will be given in Apr-May time frame.

Also has following questions:
1. Is there any litigation going on in the project with Triveni?
2. Why has LIC stopped giving loans and no other bank has approved the new loans?


Regards,
Ankur Mathur

[dheerajjain]

Litigation is going on with Triveni in High Court of Delhi where Economic Offence Wing of Delhi Police is prosecuting them for robbing thousands of home buyers of their money. Read it here at:

legal-case-against-triveni-infrastructure-builders-faridabad-t593.html

[ankmat]

Thanks for the info Dheeraj.
Since Ferrous was in alliance with Triveni earlier, does this litigation on Triveni impacting Ferrous City as well?
I heard from couple of property dealers that our project has also come under litigation.

Any idea why LIC has stopped issuing any fresh loans for this project and do you have the contact person for existing loan disbursement? I used to contact Rakesh Vatsa for the same but he has stopped dealing for same.

Regards,
Ankur Mathur

[ankmat]

Any information on License renewal status of Ferrous? As the original license was on the name of Triveni-Ferrous and Triveni under litigation now, what about the license of Ferrous for construction here?

[hitoumesh]

Friends lets start a dedicated community for Ferrous.
What do you say?

[atulk1082]

A good idea to start the community for Ferrous.As far as the license of ferrous City is concderned, it is expired & they have not yet renewed it.The license is combined with Triveni.As far as I understand,the case is against Triveni & not against ferrous as on date.They have also not paid the some part balance EDC & not paid any enhanced EDC , even though collected from buyers.They need to get the license bifurcated through HUDA & pay their share of EDC/EEDC to get the NOC from HUDA.
We afre about 59 members from one company & have been taking up with them regularly & written several letters to them, but they have not responded.Some of our members have also filed a case in consumer court against them in delhi on various issues & the judgement of the same is expected shortly.

WE need to make a joint effort or file individual cases in consumer court in big nos. to see that they take required steps to deliver the flats else we have every chance of loosing the investment made.
Let ferrous members give their mobile nos below so that they are contactable.

Regards

atul kumar
9009807080/9910272234

[gkeswani]

Hi Atul,

Please find my details below...

There is a Ferrous Community already in place on Facebook. You can also join that community as well. We are trying to form an association legally there... so that we can move ahead with this problem...

Regards
Govind
9953555825

[rajivferroin]

Please do not work on assumptions and file RTIs to get to know the real status, few queries you should try to get answer is:

1. what is ferrous, who are majority shareholders in ferrous, look on MCA website and you might find something interesting
2. did they already applied for license segregation and did dtcp already rejected this request
3. when was the last time they attempted to get their license renewed, is it never or is it only once or 2 times and in which years
4. is the violation of license only to do with edc or something else, did they complied with other rules such as 24, 26, 27, 28 and EWS flats
5. on what basis was the license sought initially, what was their capacity ...hope all that is in order
6. is license expired or is it null and void, when was it considered as null and void
7. is license cancellation in progress
8. is completion of project responsibility of one party or all the parties to whom license was issued; can license segregation be sought after defaulting for 4 years and faulting on almost every undertaking a colonizer gave to dtcp
9. do they have clear ownership of the land on which the project is standing
10. how much edc is due on their license

A good idea to start the community for Ferrous.As far as the license of ferrous City is concderned, it is expired & they have not yet renewed it.The license is combined with Triveni.As far as I understand,the case is against Triveni & not against ferrous as on date.They have also not paid the some part balance EDC & not paid any enhanced EDC , even though collected from buyers.They need to get the license bifurcated through HUDA & pay their share of EDC/EEDC to get the NOC from HUDA.
We afre about 59 members from one company & have been taking up with them regularly & written several letters to them, but they have not responded.Some of our members have also filed a case in consumer court against them in delhi on various issues & the judgement of the same is expected shortly.

WE need to make a joint effort or file individual cases in consumer court in big nos. to see that they take required steps to deliver the flats else we have every chance of loosing the investment made.
Let ferrous members give their mobile nos below so that they are contactable.

Regards

atul kumar
9009807080/9910272234

[hitoumesh]

My number 9810045535.

These builders are cheating us.

- Umesh

[hitoumesh]

Friends also join us on facebook, as facebook group is a closed group and we can share details with less risk their.

[gkeswani]

Please do not work on assumptions and file RTIs to get to know the real status, few queries you should try to get answer is:

1. what is ferrous, who are majority shareholders in ferrous, look on MCA website and you might find something interesting
2. did they already applied for license segregation and did dtcp already rejected this request
3. when was the last time they attempted to get their license renewed, is it never or is it only once or 2 times and in which years
4. is the violation of license only to do with edc or something else, did they complied with other rules such as 24, 26, 27, 28 and EWS flats
5. on what basis was the license sought initially, what was their capacity ...hope all that is in order
6. is license expired or is it null and void, when was it considered as null and void
7. is license cancellation in progress
8. is completion of project responsibility of one party or all the parties to whom license was issued; can license segregation be sought after defaulting for 4 years and faulting on almost every undertaking a colonizer gave to dtcp
9. do they have clear ownership of the land on which the project is standing
10. how much edc is due on their license

I filed RTI with DTCP to get information regarding some of the queries above - will share the responses soon on this forum..

[hitoumesh]

join us on facebook....Search Ferrous Infrastructure on facebook..or give ur email id here

[kbmalhotra]

Are the groups like Heritage Cottages who have purchased land from Ferrous and done construction also included. If so please include me also as member. My mail add. is bhushankbm@gmail.com. Contact No. 9910990592. K. B. Malhotra

[dkunzru]

I would like to join the Ferrous Infrastructure forum.
My email is dkunzru@iitk.ac.in
D.Kunzru
+919936335523