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Normally investors were not even aware regarding such huge difference between gross and net area. I was called by the new developer today and basically was told they will carry on with the areas as they are.
I am also ready to get a lawyer if all of us can join in. New Developer cannot waive off obligations of Old Developer towards investors. Please inform how many of you have received Oqood registration document from Dubai Land Department. Normally investors were not even aware regarding such huge difference between gross and net payday loans oregon area.
New Developer cannot waive off obligations of Old Developer towards investors. Please inform how many of you have received Oqood registration document from Dubai Land Department. Normally investors were not even aware regarding such huge difference between gross and net area.
My original SPA quick loans no credit check same day duly signed on 31st May 2009 states, Gross sold area : 1233. We must open online payday loans alberta a case in Dubai courts and we will get results. I live in UK so I have to plan a visit to Dubai, but I would join a group action and if possible seek the help of a lawyer. Individually it would cost a lot but if we join together it would be cheaper to have a good lawyer. A group action is effective with individual power of attorney by each member in the group is given to a lawyer will fetch results. Opening a case in the court may require solid evidence of irregularities and may be the last resort by a lawyer on a point of law. Simplicity of the matter is that we all have original contracts and those contracts have been breached hence we are entitle for a full refund plus compensation. On Sunday, we have quick loans no credit check same day meeting with person in charge at Dubai Land Department to discuss this matter on behalf of our Client. However, legally going through Arbitration is not advisable, as this property no longer belongs to KM. Three major issues- size difference, unacceptable delay in construction work and quality of construction work (it is grade b).
If group approaches us, we will provide full assistance and solution.
It might be easier for you to get in touch with me. I live in Manchester which is not very far from Stoke. Guys, Please encourage all the investors in Tamani Arts, Park Lane and B2B Tower, cash advance loans online no credit check to participate on this forum as we all have a common objective to achieve. Although it is a new standard but some developers is using as a (BAD) tool to convince investors to accept reduced net areas. I think we all should join together and take a legal action as soon as we can.
Because I believe the more we delay it gives the right to the developer to cancel our units for defaulting payments. Even when I initiated this forum myself with such purpose, before moving into that direction I wonder which option would have better odds of succeeding: b) a request for a solution to the issues detected - either by increasing the area or by reducing the final price according to the reduced new area? What Law Firm has real possibilities of getting a favorable ruling against such a easiest payday loan to get contestant? I am also in favor of creating a separate platform, to gather more investors and with some kind of access control. As 3 month payday loans no brokers per the law when a project is taken over by New Developer, if the Buyer has not entered revised SPA, has full right to terminate SPA and claim cash advance tampa for refund along with interest. New Developer along with the project takes over all obligations of the old Developer. Henceforth, legal action has to be taken against both.
Our strongest argument is delay in construction work. Judgment must be obtained before the project is completed. Dubai Land Department is not going to do anything, only way to get money back along with interest is to terminate SPA and to claim refund.
In all three projects taken over by Developer Properties construction work has degraded, offices at present are sold at AED 850 per sq ft on net area basis and many unreasonable clauses in revised quick loans no credit check same day SPA.
I would like to draw your attention to the fact that you are entitled to compensation if a developer decides to reduce the area of the unit that you were purchasing. I have had a similar issue in the past with a property in Dubai Marina and when the new developer sent me a revised SPA, I approached a lawyer and understood the ramifications of it. Find yourself a good attorney who specialises in real estate. If you want I would be happy to refer you to the good people that helped me. Send me a message and I will forward them details to you.
I would like to draw your attention to the fact that you are entitled to compensation if a developer decides to reduce the area of the unit that you were purchasing.
I have had a similar issue in the past with a property in Dubai Marina and free personal loans when the new developer sent me a revised SPA, I approached a lawyer and understood the ramifications of it.
Find yourself a good attorney who specialises in real estate. If you want I would be happy to refer you to the good people that helped me. Send me a message and I will forward them details to you. I especially dislike when the common man is taken advantage of because they lack sufficient information. I have found that seeking a lawyer was the best decision I made and my law firm was especially very hands on. As you know, a new developer (IAH) has taken over the project from the original one (KM Properties). Now they are sending out NEW contracts to investors where they change areas, payment plans, etc, adding new clauses, etc.... It is important that we as a group review the changes and negotiate what is best to our interests. Please join the discussion and see how we can accomplish this! My original office area was 575 sqf which they increased to 717, but news developers are saying that the net area is like 334 which is less than half of total gross.
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Thank you for sharing your experience on Tamani Arts. My experience with them is so bad since the time of the old developer, KM Properties. They were not just cheating on floor areas they were in fact stealing money.
There is a major discrepancy of over half a million AED between the amount of money I paid and the amount received and shown under the escrow account of the project. I told KM Properties from 2008 that I will not make any further payment and I will not sign any contract until this issue is resolved. However, since then no action was taken quick loans no credit check same day from their side. Now, IAH have inherited this problem and I am not sure how they are going to deal with it. If you know one, and I know another one, we are already 4 investors with the same concerns: changes in the no credit history loans area, new additional terms like the right to increase the price (! As I said originally, it is important to get as many dissapointed investors as possible instant online loans no paperwork in order to get our voice heard when we complain.
I offer myself to collect and coordinate info, but we need the invaluable help of investors residing in Dubai, as many of us are abroad and therefore contacts with RERA and others are not so easy.
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