RIDGE WOOD VILLA(TAMILNADU)NOT SARJAPUR
Phase -1: To Trap YOU with selling villa
• Marketing people will ask to pay the advance and in-turn you will get the receipt.
• Immediately you will not get the agreement signed as it needs to be drafted.
• Later you will get the site agreement, you would just glance the agreement and keep it aside safe along with the receipt(s) OR you would not agree with the terms
• But you be convinced by the Builder on the agreement that wait for just 1week after that it will be signed
• Again when you glance on the approval plan you will get to know that you have booked the UN APPROVED. OR you know that it is unreleased site and builder will promise for getting it APPROVED within 2 months from DTCP
• Builder will push you to sign the agreement stating that it will take some more time as the price offered is in a pre-launch period.
• You would approach your legal advisor for legal clearance in Bangalore but the builder will approach you to talk to His lawyer in Hosur here were you get trapped and get convinced.
• After signing the agreement, when you approach for Khatha(Patta) transfer you get to know that Patta will not be done for unreleased site or Unless project is developed.
• Land cost for the project is not more than 750/- Sft this guys charge 1500/sft and make us fools.
Phase-2: No development / progress
Then is where you will realize and approach the builder for understanding more.
• When you refer back your agreement copy you will realize that the agreement would only talk behalf of the builder not towards the buyer.
• You will start to understand the agreement and problem hence forth
• Seller would have MOU to formalize the land as per DTCP norms but failure to complete even after 3years with basic amenities
• You would have ignored the MOU or forgot the stipulated date mentioned on the MOU
• None of the nationalised bank from Bangalore would give approvals on this project.
• Builder will assure project Aprroved by ICICI, HDFC & Axis Bank
• Builder would delay further more on project development blaming New Govt is under formation would take few more months for getting the project approval.
Phase-3: Disowning entire project & make YOU look like a FOOL
You would have been in big pit already by investing huge money for your dream home
• When you contact the Builder, ask for refunding the booking amount 20% that you paid for.
• Builder would ask for 15% cancellation fees of 20% what has been paid.
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Summary:
So its triangular love series and now you would have understood the whole importance of the agreement and how you would have been cheated.
• You would realize that when you signed the agreement sent by you in mail & signing the Hard Copy.
• Builder has only phone contact and no personal address to reach, on asking he will go wild and conversation heat picks up.
• All Two Directors are ready to manhandle you and also tells you to lodge the court case, will respond thru court and do whatever you want. Do not come here again.
My part of story to complete this blog:
• I have booked here in March 2014, having agreement signed by Two mentioned Praveen Kumar and Vijay Kumar They said within 2 months DTCP Approval will be in release mode but you can book, so booked it. Till now its not released and they are promising ROAD WORK, SITE MARKING, BASIC INFRA WOULD BE READY BY JAN 2015 when asked they say meetings with DTCP under discussion will take some more time. I had talk with the Builder and they are demanding another 20% amount(total of 40%) as they are in less fund to develop or they are ready to refund. I got to know that since the price have gone higher they have strategy to take back and sell at current price.But this location price doesn’t appreciate nor appreciated as per my survey this is Border of TN nor you find any growth just for living.
• When we approached and asked for refund as we are no more interested, they have started new stories on each day/week/month by stating agreement is expired and we are not liable. It’s being similar stories repeated from past 6-8 months.
• Imagine/Think about your hard earned money, dream house you want to construct and such a terrible experience you have to go thru.
• Beware of these/such fraud peoples and share this link so that others are safe
- Thank You! We appreciate your effort.
