Assetz Property Group, Bangalore

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Reviews on Assetz Property Group, Bangalore

Summary
Feb 24, 2020 04:24 PM Read

Hi People,

I would like to highlight the major points here for the Builder Assetz Property Group who call themselves a A Class Builder but none of their responses and activity concur to it.

The Assetz 63 degree East project started way back in 2016 with promises that the handover of the project would be done for the 1st phase in between 2018-19. The dates shared with one of the owners was March 2019 for possession. People were not shared any update about the delay until the last week of March 2019, post which they were informed that it is getting delayed by 6 months.

So the next possession date becomes Sep 2019, but again the same thing was repeated and the date was shifted to Dec 2019.

The new year arrived and it is about to enter March 2020, still the possession for the 1st phase C Tower has not been fulfilled, which they have no shame and remorse of. They even went ahead and launched the phase 2 where Tower A and B has been started. Even the Villa phase has also started. All this is happening when phase 1 is not even completed and more than 85% of the people's money is already paid for almost a year now.

When the owners protest they are being said, please bear with us as we have many factors for project getting delayed. No money, no labor, etc.

Now how do they get money and labor for other phase.?

I personally believe they are playing with the emotions and money of the owners. Any new buyers please be very careful before investing in Assetz Property Group.

whatever date is mentioned in the papers, you will definitely expect the possession 1 yr after it(minimum).

Latest news: they have launched around 5 more projects in different areas in Bangalore, god save all those people buying their dream homes in it.
Jun 27, 2019 12:23 PM Read

The builders have got the paperwork illegally because there is a floor that is built illegally here because of which they may have to give the authorities some money to keep quite about it, which is why our maintenance charges are so high!
Jun 23, 2019 03:25 AM Read

Multiplexes are very few in the nearby areas and this leads to major problem in terms of lack of fun and entertainment services in the nearby places. Children get bored very quickly as a result of this. This needs to improve at many levels.

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Jun 17, 2019 05:06 PM Read

The construction quality of the projects is not credible enough since many of the previously living tenants have considered the option to vacate the premises due to poor social infrastructure space and quality value.
Jun 15, 2019 05:24 PM Read

It is high time now that the owner association group should take it up as a case and file it as an issue with the builder on behalf of effected apartment owners who have been consistently denying final possession of the flat with the buyers.
May 29, 2019 08:38 AM Read

It is rightfully the duty of the government to be proactive and propel growth in the real industry in the days to come but since many of the developer projects have been constantly delayed due to lack of proper payment by the builders that are involved, it is the need of the hour that proper actions are taken into account.
Jan 21, 2019 08:02 PM Read (via Mobile)

Visited Marq in Whitefield. Good decent township with some out of the box amenities. However I feel, the carpet area could have been much bigger considering the price of the property.

They have a huge park inside the township and ample of green spaces that I feel is the main highlight of the project.
Dec 24, 2018 08:37 PM Read (via Mobile)

I recently visited Marq - on the launch of their Phase 2. The sample houses were absolutely stunning. I reallh liked all the elements and objects they have used to decorate it. The township has some 25+ amenities and the best thing that I liked was they have an in-campus school itself. Though the possession date of the property is quite far I feel, but I think its worth the buck if you invest here.
Mar 17, 2018 08:00 PM Read (via Mobile)

Firstly, Be very wary of dealing with Assetz as they have a very good set of lawyers who can draft agreements and contracts in their favour. So if you find words like ‘easement rights ‘ etc in your agreement copy, rest assured that you will end up giving up a part of your property for a road that providence will decide if you may use or not. You may think RERA or what not, a small note that says “ images here are indicative and may change.” should do the job against you.

Read into fine prints of what constitutes “completion “ of a project among many other things. They will hand over the apartment for interiors but choose to complete amenities after a good 18 to 30 months. And this time line is after you have paid so called clubhouse and amenities charges. Read into all the details, verify with a good lawyer and strike off what you don’t agree with.

Secondly when you go for buying you will not be made aware that until the project is ‘completed ‘( meaning you have paid in full including registration, only car park payment is due) Assetz will not allow customers to visit your own flat! At a stage when it doesn’t matter so much they may allow once or twice, but when all slabs are cast and finishes are happening there’s no way to see how they are faring. All in the name of safety! Their safety policy however does not stop them from handing over projects to customers without railings to staircases being complete, storm water drain covers, sump tank covers not being done, open conduits, nails and debris lying in the so called play areas where your kids or older folks will walk. And you cannot do anything about this because It’s mentioned so in the construction agreement that you have signed.

Thirdly you’ll very soon realise how well rules are made for you, but none or very few applies to them. From timing for your interiors work to happen to fines and penalties if you falter on anything they can put a date on, there are eloborate mechanisms in place to extract out of you what’s due. Ask them about what are your rights as a customer, other than taking the trouble of going to a consumer court, you may not have any. Set clear paths before agreeing on their terms and above all protect your interest, as Assetz would have theirs only.

Lastly, do not believe any verbal assurances of timelines, processes and generally anything from their CRM team. It’s a difficult team to work with unless you are congenial to their repetitive follies and blunders. I have a written record of what a member from their CRM team said about project completion and this is before the agreement copy was handed to me. There’s a gap of 24 months in handing over the apartment itself, forget the amenities! Of course this will be construed as oversight or error from an individual, but make no mistake, that’s their habit and their way of functioning. Only mails writing good things will be read and answered, ask couple of tough questions and they melt like butter. No replies to mails, no replies to phone calls.

Reviews on their construction quality and project handover? To be continued.
Jul 09, 2019 04:04 PM Read

Genuine builder, provide luxury at an affordable price. Apartment's quality and ambiance are very good.
Marq 2
Fake
Mar 14, 2019 10:44 AM Read

Assetz Property Group is known for one of the topmost real estate industry for its quality development. There is nothing to think twice about the investment into this project. I visited Marq 2 recently, a lovely project that I came across in Bengaluru.

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