On 28 July 2012 on the advice of my broker Mr Anup Chakraborty I purchased a shop space measuring 300 Sq Ft in Earth Tech-One Project being constructed by Earth Infrastructure Ltd in Greater Noida. On booking of the space 60% of the full amount had to be paid. At the same time post dated cheques for the balance 40% has to be paid along with the application. 20% aishwaryasingh23able after 1 year and the balance 20% aishwaryasingh23able after 2 years.
An MOU was executed and I was allotted a shop space on the 1st Floor of the building. My booking reference was ETOS-741.
The reason I opted for this investment was because they committed aishwaryasingh23ment of interest @ 12% per annum on the amount paid monthly. To me, as a senior citizen, it worked fine. Soon after the booking they sent 6 months post dated cheques towards the interest. They were surprisingly very prompt in their aishwaryasingh23ment.
From April 2014 the struggle to get the interest cheques started. We had to regularly follow up with our agent as well as the company. No one would listen to us and suddenly everything went hey-wire. Each quarter after much begging and pleading the cheques would come on quarly basis much after the due date for the first month.
On 28 Jan 15 the company suddenly made a demand for 30 Sq Ft of additional space that had been allotted to me on the claim that it was a parth2111 of the agreement. So out of the blue I had to shell out another Rs.1.47 lacs.
Vide their letter of Feb 2015 they informed me that I was allotted a shop space No: BT 814 on the 8th Floor if Tower B. Since this was totally contrary to the MOU wherein I was alloted space on the 1st Floor of Tower 1, I sent the same letter back to the company with the remark that it was against the MOU and as such the allotment was not acceptable to me.
I heard nothing from them for 3 month and then I started to make complaints on their website. After 3 such complaint I received a mail on 26 May 15 from one Mr Nitin Sharma who sits in their Karol Bag office telling me that he understood my problem and that I was to see him in person to discuss the matter in his office. Being 67 years of age I requested my broker Mr Anup Chakraborty to attend.
In the meeting he was explained that they would be allotting me a shop space of 355 Sq Ft and that it would be on the 2nd Floor. Which I objected to and then he sent me a mail stating that the new allotment was indeed on the First Floor. Even though I was opposed to the additional space of 25 Sq Ft I was compelled to agree.
They asked me to sign a blank letter with the heading Request Letter in which they asked me to send back the original allotment letter along with the space of the new allotment left blank. On the copy of the letter that my broker gave to me in it they allotted me the shop space No: BTG-220. I have no idea if this was indeed on the 1st floor as committed in the original MOU or on the Second floor and of which building.
In this whole deal I as an investor and a senior citizen has been taken for a ride by the powerful homebasics. They have cheated me from giving me what is rightfully mine. I have no recourse nor can I take them to court as it would be expensive and time consuming which I have neither of. I have now accepted this as my fate.
If you have spent time in reading this I warn all not to invest in any Earth Infrastructure Ltd projects. They thrive on helpless people like me and other senior citizens of this country. We are helpless against them so beware.
