By: Rakesh

Rakesh — Tue, 05 Jun 2012 08:54:16 +0000

Not only the pre-launch but there are other reasons as well. Today the day has come when nobody can trust on others especially in real estate sector where huge amount of money is involved. Before hiding he made settlement with other responsible people of our society. Even limited media coverage is done by few of the responsible media people. Such a big fraud happened but no body came forward to take any action. It is not a 50 crore fraud but more than 600 crore involved here. There are approx. 1200 houses that are under construction and sold to people. One of the Project Royale Minaar is sold on the papers as there is no land for that project. This project is supposed to be on 4.32 acres of land whereas builder purchased only 1 acre and that too is mortgaged to bank for some other builder’s grantee. Total 228 flats are projected under this project and maximum sold but there is no land. See the fraud done by this brave man and people like us who doesn’t have courage to deliver what we are supposed to………. Sorry

By: Verander Grover

Verander Grover — Mon, 21 May 2012 15:36:40 +0000

any one can tell what can be done in case of builder absonding. what is the government policy to safegaurd common man interest who had invested his harderned money to buy a flat/dream home.
In most of the cases the builder takes 95% cost of the flat upto making structure only as per the agreement between the buyer of the flat and builder,whereas 60% cost of costustuction is involved in finishing work of the flat. i donot say that all the builders are of froudent nature but what is the garantee the the builder will not be fraudent. To safegaurd the buyers of flats why buyers should not goin for ready to shift in flats.
what precaution should be taken that one flat is not sold to twi parties.

Comments on: Real estate builder absconding

By: Rakesh

By: Verander Grover