Builders use system loop holes and cheat clients

₹53.14 L
Possession on: Jan 2016
Status: Ready to Move
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Builders use system loop holes and cheat clients
Jun 26, 2020 11:53 AM 8816 views

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I've taken a flat in their apartments "Springwoods" at Sarjapur road. This venture they started in 2013/2014, I've paid my full amount as per the agreement by 2018 and till today they did not handover the flat. There are many pending works in the entire building. Builders Mr. T. Sudhakar Naidu and Siva Sankar G. they never answer the calls, won;t be available at office to meet. Simply escaping the customers, they took loans to the tune of 13 crores from banks by mortgaging the semi finished apartment and sold it to customers. and they did not pay the loan dues. Like this their irresponsibility, mischief, greed, conflicts with in partners, Cheating behaviour made a total 200 families to suffer mental and financial losses. Most of the flat owners paid full amount and builders are enjoying luxurious villas, cars where buyers like me incurred so much loss, not sure when they handover the flat to us. Most of the flat owners are middle class tax paying employees and put their hard earned money to own a flat. In India, our law system also won;t help and does not guarantee faster compensation.

Don’t ever do transactions with these builders, don’t purchase real estate with them.

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