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Tellus Avenue, Rajakilpakkam - please tell us all the details!!

Recently along with my NRI friend I went to see plots at Rajakilpakkam. I wrote about few days back here. As I wrote my NRI friend decided to purchase a plot in Tellus Avenue and he paid the advance and obtained copy of the parent documents for legal opinion. The legal opinion was negative on account of lack of details with regard to one particular name transfer happened with regard to the property. When Tellus Avenue promoters were contacted for further details, the reply you get was something like this:
" IDBI Bank has approved the project and there are already 25 people or so who have registered the plots. So you dont worry about the legal opinion and you can go ahead and register".

I think this is not the right way to convince the prospective buyers. You cant just rely on the fact that some institution is willing to lend money to buy a piece of land, which really costs you a fortune. We all understand the levels the business ethics and integrity levels have gone down in the society, so unless all documents are clear, you can't just go ahead and purchase. Last heard, my NRI friend has taken back the advance truly dis-satisfied with the explanation given.

Buyers Beware!!

9 comments:

Adwait said...

I could not possibly see any other way for the promoter. It is called inviting Pope John Paul way of selling. If pope is fine why should the faithfuls be worried !!

We have to do our own due dillegence. In this case it is a happy ending as your friend got his money back. In some cases the money becomes NRI (non-returnable investment ) !

Venkat Muthukrishnan said...

Hi Adwait,
I like your corollary very much.. you give fantastic examples!!

Thats true.. many a times it becomes NRI and the struggle you make to get it back is a saga of its own.

Arul said...

Hi

Can you give me what is negative on the legal. My home is 5 mins from the layout and also NRI.Actulay the house we are staying is broght from the same realestate person. His father developed the laye 10 years ego. we are thought of buying one from tellus ave. It will be usefule for me what negative It got

Venkat Muthukrishnan said...

Hi Arul,
I have to get the exact details from my NRI friend in this regard. Please hold on some days till I hear from my friend. Pls drop me a line with your email id so that I could reply.
tks
venkat

Anonymous said...

Dear Friends,

Chennai IDBI Lawyer is waste. He is not having enough skill to scrutiny the document. Please consult with another lawyer who may be your relative or friend.

Instead go to SBI Approved project.SBI or LIC HFL lawyers scrutiny the documents well.but you have to see the site in person and enquire with the neibhours and Area counseller(MC) before buying land in chennai.Because in chennai many lands having litigation and one land is registered for more than one person.

IDBI Guys are really waste and no worth.

Anonymous said...

also an NRI.am curious about Rajakilpakkam area.how is the water facility,locality etc

Venkat Muthukrishnan said...

@ Anon: Rajakilpakkam is a very good area according to me. It is well connected to IT Highway as well as to the GST Road. It is a peaceful residential area with good ground water levels. All basic amenities are available near by and the nearest railway station Tambaram is 5-6 kms away.

Anonymous said...

Yes it is true. Tell'Ave is facing a legal case for occupying another persons property

BOUNDARIES NO MORE said...

Preethi Nanda ,Marketing manager Tellus property developers,

Its pretty easy to loose words and defame any person or an organization. We have worked hard for 8 years to achieve what we have done today.

kindly note neither we have occupied any person property nor we have any impending cases.

As Documents are purchased through a guidance of a proffessional lawyer and the promoter himself being a lawyer have taken due consideration before purchasing properties.

We came to know about this blog through one of our esteemed customers. If any persons states there is any case or legal issue or any drawbacks in our legal papers you can contact us :04422233586,9444077735.

Mr.Venkat kindly note this project consists of 132 plots and all the plots are sold within 2 months from the date of launch in 2009 without 1 single advertisement.

With regard to your friends detail and plot number he booked kindly inform us we will immediately reply the matter of querry.

preethi nanda