Political Scene - After Election?

Hi Sridhar,

Anyway, as far as I know, the Metrozone project has been on since 2004 and had the litigation problem eversince. The bookings were stopped for almost upto 2007 when they reopened bookings and again went slow for sometime. Only in 2009 after obtaining all the approvals they proceeded further.

Now as I understand their legal advisors M/s Rank Associates believes they have a strong case in their favour. Meterozone's wait & go process ( between 2004-08) makes me believe that they are very confident that everything is in their favour & they have a strong case. As such I think SBI / HDFC Realty and other banks have also taken exposure for purchase of this land and I think they must have looked into all details before taking the plunge. But this doesn't mean that everything is O.K with the project. For SBI this investment may be a drop in the ocean. Just that it gives a little bit of more comfort.....I also feel the DMK govt might have got its cut and so strongly are in favour. I foresee problems if in the coming elections DMK loses.... which I am not sure...

If you have carefully gone thro' the claims of PartheBaskar advocates they have tried to add all sorts of issues which are all known to us beforehand and as you all know Metrozone has not kept us in the dark about any of these issues. In fact the sale agreement clearly includes the details of all these cases and their legal opinion. From their side they have been transparent. So why get jittery now??? We should realize that we have taken calculated risk before taking a booking in Metrozone.

But if in case we want to protect ourselves what more we need to do.???...I am not sure....I hope you people also got the reply/rebuttals from Metrozone regarding the issues raised by Parthe Baskar and they have given assurance that they will protect our interests at their cost. My only fear is that these cases may not be over even when the apartments are handed over... it may continue after that also. After it is handed over and Parthe Baskar & co proceed with their cases against all individuals, how are we to protect ourselves??? I have already written this to them but no reply has come. All of you can also take up this issue and we can get some assurance from them in a collective manner .....

Add your thoughts and let us share....

Regards,
VENKATARAMAN N
ABU DHABI.