Info: IT Employees Housing Co-op Society

vishwas_bda
Posts: 29
Joined: July 6th, 2013, 5:44 pm

Re: Info: IT Employees Housing Co-op Society

Postby vishwas_bda » July 8th, 2013, 10:00 pm

Am also curious about this, can anyone share their experience with this society? should not happen that someone is using the "IT" community tag to just make money. Saw their online registration, have to pay the extra 2.25% service charge also over the rs 2.5K membership fees

ramks1982
Posts: 16
Joined: January 10th, 2012, 6:13 pm

Re: Info: IT Employees Housing Co-op Society

Postby ramks1982 » August 21st, 2013, 12:45 pm

Hello,
I have also registered to this society. But i havent heard anything from them yet. Infact, i havent even recieved any membership letter after the payment.
My bad i have also not followed up.
If anyone has any update regarding the same, kindly let me know.

Thanks and Regards,
Ram

krishnabasudev108
Posts: 7
Joined: August 19th, 2013, 10:41 am

Re: Info: IT Employees Housing Co-op Society

Postby krishnabasudev108 » August 21st, 2013, 1:18 pm

Hi All,

Are you taking about the CGTIT society? this one IT employees society has come up newly!!!

msn1270
Posts: 1313
Joined: June 17th, 2009, 2:21 pm

Re: Info: IT Employees Housing Co-op Society

Postby msn1270 » August 21st, 2013, 2:12 pm

Pals

Just b'cos its for IT employees, don't expect updates daily/weekly similar to your facebook/twitter/linkedin account. Don't make any speculation like I heard, I read, XYZ person informed me.....etc. They've given update in their website about a possible launch only by new year i.e. early 2014 (Same info is cut & pasted below for your info). Wait till that time.

"During the last 3 months ITH has been working strenously identifying locations that would be suitable to launch our first project. Nearly 7 locations were looked up - around Hoskote, Sarjapur, Mysore Road - and site visits done followed by document verification of each of these locations.

ITH is going the extra mile to ensure that the site that would be finalised will be authentic in legal terms and supported by Government policies. It is our pleasure to inform all our members that our verification process is progressing very well with respect to the locations around Mysore Road and we will be coming out with our first project very early in the New Year! "

sriram
Posts: 86
Joined: January 5th, 2012, 7:32 pm

Re: Info: IT Employees Housing Co-op Society

Postby sriram » August 21st, 2013, 6:16 pm

msn, this message has been there on their website for a year now!! so, the new year actually meant 2013 and not 2014 ;-). Since buying land at reasonable price for housing is quite tricky, I guess there have been delays which were not foreseen. Here is the latest update from their newsletter received on 15th August,2013:

"Happy Independence Day!

The wait is finally coming to an end!! Yes, there have been communications in the recent past from the IT Housing Society that our first Project launch is round the corner and that we would be coming out with the details shortly. There have been delays for various reasons even with the Society Board members actively pursuing all the matters and driving the formalities to closure. We are now getting ready to launch 3 projects in quick succession and with these 3 projects our endeavor is to meet the expectations of our esteemed members.

The 3 projects are located in the up and the happening areas of Bangalore and we are very much excited anticipating an overwhelming response from the members. We will be delivering circular for each project separately, to each one of our members along with an application form which the members can use to make a booking of their dreams in any one of these 3 projects.

Along with the project details the circular will also provide information about the booking amount, mode of payment and other details for the members to move forward with the booking. Members can contact the Society office for any further clarifications upon receiving the circular - we will be standing by to answer your queries."

Lekhya Sindhura
Posts: 20
Joined: April 8th, 2013, 11:14 am

Re: Info: IT Employees Housing Co-op Society

Postby Lekhya Sindhura » August 22nd, 2013, 10:44 am

Hello All,
I am a IT professional.. I would like to know details on the proposed projects by IT Employees Housing Co-op Society.
I see that there is no information on the projects in their website.

Could any of you share the details or reviews of the same.
I would like to become a member of this Housing Society , but just wanted to do a background check.
Thanks for your help in advance..

msn1270
Posts: 1313
Joined: June 17th, 2009, 2:21 pm

Re: Info: IT Employees Housing Co-op Society

Postby msn1270 » August 22nd, 2013, 11:24 am

Sriram

For your kind info, In second half of 2012 they started offering membership. As I know, their first mission was to get more than 1000 membership before taking next steps. Only during the first half of this year(2013), they crossed that number. So your statement of ITH committed launch of their project in the early 2013 is not true. As such they'll not buy any raw land & do all the layout development and paper processing works by themselves. They've engaged with multiple land Developers towards achieving their objective. You might be just a member of this society receiving messages through their newsletter to your email. But I have higher level of engagement with a Board member of that society.

Sindhura: FYI, This society started a year back and only accepting the membership now. They don't have any completed project to validate their background. They've shortlisted few lands in multiple locations, as such nothing is finalized/officially announced. It may take some more weeks or months for any formal announcement.

Lekhya Sindhura
Posts: 20
Joined: April 8th, 2013, 11:14 am

Re: Info: IT Employees Housing Co-op Society

Postby Lekhya Sindhura » August 22nd, 2013, 1:14 pm

Thank you so much for the quick reply. So its better to wait and check out the projects they offer and then become a member ..

sriram
Posts: 86
Joined: January 5th, 2012, 7:32 pm

Re: Info: IT Employees Housing Co-op Society

Postby sriram » August 22nd, 2013, 5:46 pm

In February 2013, when I was looking at becoming a member of the society, I saw the exact same message "During the last 3 months ITH has been working strenously .................we will be coming out with our first project very early in the New Year". In Feb 2013, if you read the whole message, early New year would (obviously) mean early 2013 and not early 2014.
Early New year has to be read in conjuction with during the last 3 months ITH.....If you read the above message in July-August 2013, it is obvious that they have slipped on the timelines. If you read the above message in Nov-Dec,2013 or Jan-Feb 2014, early New Year would mean 2014.
I received an email in April,2013 that all the approvals are almost through and we would be sending you the details soon. However, due to some reasons the approvals havent come until now. If you take the latest email (Aug 15,2013) on face-value, it seems that very soon they would be coming up with the layouts but from my past experience I feel it will take time and it would be a good achievement if they come out with a layout in the first place itself (forget the timelines).

ramks1982
Posts: 16
Joined: January 10th, 2012, 6:13 pm

Re: Info: IT Employees Housing Co-op Society

Postby ramks1982 » August 22nd, 2013, 6:15 pm

Hello Folks,
Sorry, i should have mentioned about this info in my previous post on this topic.

As you know, post online registration we are supposed to send them printed copy of the online form along with the address proof. So i thought instead of posting why not visit the office in chandra layout. So i visited their office in Jun'13 and was on a saturday
Following is my observation and the outcome of the discussion.

1. The office space is in a basement of a residential house which is part of car garage.
2. The office had 2-3 desktops and bulletin board on top of it.
3. There was a office boy and another person in the office. The office boy offered me Tea.
4. The other person who did most of the talking took my documents and pinned it and kept it on the table. From here my questions started -

-- Total Members and my membership no --> My membership number is in 1400's and so does seem very clear that the society has hit a magic figure of 1000 (ofcourse if the counting has been starting from 1 :)).
-- Is this the permanent office location --> This employee informed that this is a temporary office and has been provided by their developer with whom the society has tie ups. They would be soon moving to Cunningham Rd where they have identified some office. Didnt specify how soon.
-- Any Projects in the pipeline --> Employees Anwer
a. One Project on the Mysore Road - This will be the 1st project to be launched. The Land has been identified and soon to be finalised. I asked about the expected price of the plots. He said that it could be in the range of rs 600-800 psft. The decision is still pending with the board and some meetings were scheduled in July it seems. Dont know anything after that.

b. Another project on the ChikTirupathi Road - Identified some land but the discussion with the seller has not been finalised. It seems this will take some time (i believe will take quite a long time).

-- Regarding the Developer --> He told me the name of the developer who has been engaged, but sorry i cannot recollect. But this developer has some projects in Thanisandra Road mainly Apartment complexes.

If time permits this weekened i will visit their office again, and get more information and post it here.

@msn1270, meanwhile can you share any information if you have about the projects and the developer since you have higher level of engagement with the board member of the society. Everyone here on this forum will benefit with more information.

Thanks and Regards,
Ram


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