GM Infinite E-City project

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Beware of GM Infinite any project as they will put a clause in their agreement that if you want to cancel the booking or ask for refund then they will eat your entire money, on other way you are forced to buy once you have done the booking. Read the clause below:

Clause in Sale Agreement

If any breach continues for more than 2 months or any breach not being rectified within a period of 2 months, for whatsoever reasons, the vendor/developer at its discretion/option will be entitled to terminate this agreement and treat a sum equivalent to 20% of the entire sale consideration as forfeited and adjust it as liquidated damages from and out of the money paid by the purchaser/s and the vendor/developer will be entitled to deal with the schedule “B” undivided share, including selling the same to Third Party, without any further reference to the purchaser/s. The balance money, if any, due to the purchaser/s shall be paid within four weeks of the disposal of the schedule “B” property. Against the cancellation of this agreement by the vendor/developer, the purchaser/s rights under the Construction agreement executed on the same date shall stand terminated without any requirement of execution of any further documents.

Category: asked June 7, 2014

1 Answer

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Hi All

I have booked a 3 BHK Flat in GM Ecity Town Phase-I for good price and now my flat price increased to double. That is good location and many builders coming with big Residential projects like Prestige, MJR , Arat , Neo Town and etc … Phase II pre launch going now as 3450/- per sft and no one giving that price in Electronic city. Phase I construction is going very fast with good quality and with all legal documents

I don’t see any industrial pollution and water also good … Its nice residential location …. i saw Neo IT HUB and Malll is getting ready.

As per my experience We can trust and invest/buy flat in GM Ecity Town.

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