SLV Pragathi Amber, Electronic City Phase 2, Bangalore

By SLV Concretes, Bangalore

I have taken loan from one of the reputed bank in year Oct, 2020:

For apartment in "Pragathi Amber”,

Having super built-up area: 1500Sq.ft,

Builder: SLV Concretes, No: 183/2, Singhena Agrahara Village, Fruit Market Road, Sarjapura Hobli, Near Gold Coin Club, Anekal Taluk, Bangalore-560100 and we took apartment unit based on certain conditions with Builder. These builders are having another office in Jayanagar 4th block, Bangalore.

Actually, I don’t have any interest to take unit from Builder. But builder said he would use my profile to get the loan and pay me Rs.5, 00, 000/- after one year and additional Rs.25000/- per month if they don’t close loan within one year and along with every month EMI. Same process is followed with other buyers too. I heard there are 18 to 20 people submitted with their profiles to get the loans from reputed bank. They are targetting IT people to get the loans easily.

This is our first mistake to provide our profiles to builder and that is unethical to the process to get the loans. After two months builder stopped it paying EMI’s. We tried to pay EMI’s even though builder is not paying properly monthly EMI’s. We expected he would close loan soon. We realized that he is fraud builder and he is trying use same kind of approach for another venture in Kanakapura Road.

I was expecting he would close my loan one day. He is not ready to do that. He has given fake cheques for 5 lakhs(which was agreed to pay me after one year), both cheques are bounced after I dropped 1 yr. He stopped it paying EMI’s and I was paying EMI’s most of the times. I reminded them every day to pay EMI’s and close the loan. He has almost absconded. I was continuously sending messages and calling them. Finally, I got one buyer and closed the loan.

I am sure they never close anyone's loans and try to take loans using new buyers' profiles.

Finally what I want to convey here is, please don’t allow them to get any loans using your profiles if you are not interested to buy property and they are going to cheat everyone like this and banks too.

Like me, there are around 20 people are suffering like this. Because of loopholes in banking sytem, these kind of builders are misusing people profiles.

No buyer is cheated like these kind of fraud builders.

They may launch another projects and fool people to get loans using user profiles from banks any place in India.

I don’t want others to suffer like me. I wanted to stop this and that’s why I am passing this information to everyone.

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Beware and stay away from Pragathi Amber by SLV Concretes. Summary of my experience with them

1. 
   Missed 03 RERA deadlines and have applied for 4th extension.
   



2. 
   Consistently missing the completion deadlines and commitments and giving a new lie everytime.
   



3. 
   Not keeping their payment/repayment commitments and instances of cheque bounces when asked to refund booking amounts
   



4. 
   Almost 10 years since project start but no where near completion.
   



5. 
   Absolutely unreliable, unprofessional and unresponsive promoters of Pragathi Amber i.e. SLV concretes. Once your money is with them, they do not pick your calls or call back. Their promoters Ashok and Muniraju are only looking for a chance to make quick money and escape. No value in their words and commitments whatsoever. Always lieing.
   



6. 
   Sell the same flats to multiple buyers without informing them and collect money from all the buyers for the same flat. And then either stop answering their calls n messages and cheat by making their cheques bounce.
   

BEWARE OF PRAGATHI AMBER and SLV Concretes (Ashok and Muniraju and Ramesh and Devaraj)

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