Buyers : “DLF Garden City Rate Cuts Not Enough, Considering Exit Offer”

ET now reports that despite the rate cut announced by DLF for its Garden City project in Semmanchery (near OMR, Chennai), the buyers are considering the exit offer from DLF.

dlf-omr-commentsOne of the buyer seems to have commented on the TOI article “Builder slashes apartment prices on OMR” (which reported the price cuts), says that “GC google group members core demands have not been met and also this reduction is not even close to bangalore and hyderabad DLF projects. Everybody had expected atleast 20% from the soft launch price. Disappointed and will exit from the project.” (read comment on ToI)

According to buyers, the 13-month inordinate delay and launch of the project without proper sanctions had driven many away. DLF’s recent mail to the buyers claims to have got the DTCP approvals and that it will start the process of signing Apartment Buyers’ agreements very soon. It also claims that it can complete the construction by April 2011, as was initially planned.

The article is available at : 
http://economictimes.indiatimes.com/News-by-Industry/DLFs-exit..

Earlier Blog Post : 
DLF reduces apartment prices in Garden City, OMR !! 

Also read :
Discussion Thread on DLF Garden City (including earlier news articles).

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One Response to Buyers : “DLF Garden City Rate Cuts Not Enough, Considering Exit Offer”

  1. […] Feb 25, 2009 : Buyers : “DLF Garden City Rate Cuts Not Enough, Considering Exit Offer” […]

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