Cassia Park, Dubailand by Dheeraj East Coast

Discussion in 'Dubai property' started by rminksa, Apr 8, 2014.

  1. rminksa

    rminksa New Member

    Any update or investors in Cassia PArk project in Dubai Residences complex in Dubai LAnd by Dheeraj East Coast Construction.

    The project is stalled since 4-5 years and no progress.
    I am invested in this . Any other investors, please come forward and lets share information
     
  2. mdali

    mdali New Member

    cassia park

    Hi, im an investor too. Please get back to me at (snip)
     
    Last edited by a moderator: Jul 15, 2014
  3. Khairallah

    Khairallah New Member

    This project is cancelled. According to law once a project has been identified as cancelled by RERA, the developer has seven (7) working days to appeal the decision. If the developer does appeal, RERA is then given seven (7) days to again decide the status of the project in question. If the developer wins its appeal and the cancellation status is removed, RERA is authorised to set the terms and conditions for the developer to continue on the project. Developers cannot appeal a cancellation determination if their original appeal is rejected; RERA cancellations are not subject to appeal to another body.

    Following the cancellation report, RERA must appoint an independent auditor, paid for by the developer, to confirm the status of the escrow account and make a third-party determination of monies paid by investors towards the cancelled project. Upon completion of the audit, any funds available in escrow must be refunded within fourteen days to the purchaser. However, where sufficient funds are not available to pay back purchasers, the developer is granted an extension of sixty (60) days from the date of cancellation. Notably, this extension may be extended at the discretion of RERA without limit. Please note that it does take time for the auditor to prepare and submit his report.
     
  4. Sky_123

    Sky_123 New Member

    Dear mdali and rminksa!

    I'm also the owner of this project, could you pleas give me your contact details so we can share our experiences.

    Regards,

    Yasir
     
    Last edited by a moderator: Sep 7, 2014
  5. khadija88

    khadija88 New Member

    hey has your property been registered with OQOOd
     
  6. Yusuf LOKHANDWALA

    Yusuf LOKHANDWALA New Member

    Anybody invested in The Estate project of Dheeraj East Coast, the project was cancelled and initial amount has been paid.. How do i get my money back as developer already left the country
     
    Last edited by a moderator: Jun 23, 2017
  7. EDWIN DSOUZA

    EDWIN DSOUZA New Member

    I have invested for 1 BHK apartment in this project. paid 25% please call me (Moderated. Do not put your contact details in posts)
     
    Last edited by a moderator: Jun 23, 2017
  8. lookinginvest

    lookinginvest Member

    I would be very interested to hear how this situation develops as the Dubai authorities introduced regulations specifically for these situations, to protect investors. Are these new regulations working?
     
  9. Manish Gupta

    Manish Gupta New Member

    Hello...i had made a down payment of 25%, please let me know if anybody has an updated for refunds as this project has been cancelled..
    Manish
     
    Last edited by a moderator: Jun 23, 2017
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