Let us assume that u have a studio apartment in white season, and u desire to take holdiays abroad. So what do you pay. Initial : 194000 ASF (annual) : 7000, and increasing at inflation rate. Assume 6% inflation: then over 25 years you pay approx 380000. (hope we never have 20-30% inflation as some economies world over have had; and what happens if inflation is negative - does ASF come down? BTW Club Mahindra gives the option to pay the entire amount in advance at today's prices) RCI Membership renewal fees (payable every few years) : Approx : 50000 Exchange fee at current rates payable when you take a holiday abroad using RCI : 12000 per holiday. For 25 years = 300000 Total Assured Outflow = approx > 9 lakhs.
(Assumption : Time value cancels out as you pay almost upfront 194000). So each weekly holdiay = 37000 Currently you can get some great deals at 150$ per day for white season holidays across the world. It is almost the same amount of money, without hassles and you actually get the holiday you want (not dependent on rooms being available are there or not).
RE:More Charges
by shankar venkat on Dec 27, 2007 01:41 PM Permalink
Great analysis! Hope some one from the time share company would respond to your post.
Plan your holiday, spend a few hours before your holiday for planning and you will end up with a much more comfortable and cheaper holiday. Club Mahindra or Country Club or anything else are just rip-offs
I have worked with a Timeshare company and i very well know the in's and out's of a Timeshare Plan.It is not worthwhile to have a timeshare.In case of need go for a package tour rather then the Timeshare.
RE:PACKAGE TOURS ARE BETTER
by shankar venkat on Dec 27, 2007 01:40 PM Permalink
Dear Sahil, In the interest of the readers of this forum, i think you should spell out the negatives of having a time share as it is not small money you shell out before you sign up. Why don't you get to the brass tacks and let the readers know the pros & cons of signing up for a timeshare?
I was also a member of club mahindra for 2 years. i had paid some 90K but could not take even single day of holiday as the resort are always full. Guess what, once i asked a friend of mine (non-club mahindra member) to check availability, he was given assurance for booking whereas i as member was refused for the same period. Thankfully, i managed to get most of my money back but would request to think ten times befor taking it.
RE:CLUB MAHINDRA - BIG FRAUD
by Anil Mohan on Dec 30, 2007 05:21 PM Permalink
Hello Harleen,
Can you please share your experience on how you managed to recover your money? I have been wanting to close my membership but they are not offering any refund.
RE:RE:CLUB MAHINDRA - BIG FRAUD
by beena nishith on Dec 28, 2007 12:31 PM Permalink
please,can you tell me ,how you got your money back ? this is urgent ,please help me . I,ll be gatefull to you .
How can an IIT Prof fall for this? These people just call you up and ask to show up with your spouse at some or the other hotel. That is the time to slam the receiver. Whenever you see any ad glib with Club Mahindra that requires you to give your personal details like no. of children, income and address, just ignore.
Country Club has offered for Rs 1 lakh memebership they will allot 1000 sq ft plot free. they have also not mentioned any rule book or any commercials for the future. How do you rate this Club and their unwritten promises
RE:Will you share your feedback on Country Club ?
by Gopinath Agrahara on Dec 27, 2007 01:42 PM Permalink
Country club is mahindra club's father in cheating. There 1000 sq ft plot is 100km away from Blore without any resalve value.Yeah,you can just go for it if you get some easy money(viz not a taxpayer).These holiday clubs are meant for people who have enough black money and they cant show that to the Govt.
This time share concept is a huge scam.In Sterling resorts the electricity bill alone came to Rs.3500.00 for three days in Ooty.When questioned they refused any explanations,saying the meter is right.You end up paying more than the worth in these resorts.initially the mainteinence was good,but later on the standard has gone down so much,broken window shutters,leaking pipes etc.Not worth the money.
RE:Huge scam
by Proudly Indian on Dec 27, 2007 12:23 PM Permalink
In sterling, my experience was good! For electricity they charge high price per unit, not actual. You can get meter reading before you enter the cottage and when you vacate.
RE:Huge scam
by kamal kumar bajoria on Dec 27, 2007 01:18 PM Permalink
Am member of Sterling since 1995 and had stayed in 6 of their resorts & my experience was always wonderful. They charge Rs.300 per day as utility charge and Rs 900 as annual maintenance charge, which works out to be in total of Rs. 3000 per year, which is lowest comaring other operators in the market. Secondly Sterling has very reasonable food rates and still the cost of owning one week compact apt in low season(14 units) cost around 75,000, while club mahindra's memb cost Rs 2 lacs. Sterling has maintained accomodation, services and food quality in my openion and holidaying with them is always a pleasant experience for me. Kamal Bajoria
RE:Huge scam
by shankar venkat on Dec 27, 2007 01:50 PM Permalink
You are one of the luckiest few who has Time share membership. In fact, if you look at most of the posts, there are only grievences and nothing much to write home about. Whether, the availability of rooms or the service. It stinks. Morale of the story is to keepa safe distance from these Time Share people.
RE:Huge scam
by ASHSISH SHAH on Dec 27, 2007 01:10 PM Permalink
I AGREE WITH U - TIMESHARE RESORTS MEMBER DONT GET ACCOMODATION WHEREAS IF U ARE CASUAL TRAVELLER AND ARE READY TO PAY MORE U CAN GET ACCOMODATION IN SAME RESORT - RESORT ACCOMODATION ARE SOLD AT HIGHER PRICE TO NON-MEMBER AND MAKE PROFIT AND LET THE MEMBER GO TO HELL
