Parthasaradhy (VP Technology) 21 February 2012

Real estate developer has swindled 85 lacs

Real estate these days have become big time licensed cheating. If you are in Real estate you can make 400% or more guaranteed in an esay way and Govt is least bothered how you made. I bought a sight a layout. The real estate guy charged us Rs 10 per sqft for all the plots sold amounting to Rs 85 lacs in the name of maintainance which is to be given to Association once it is formed it is almost 9 years since the layout is declared finished though a lot of things are yet to be completed. Now he is saying he does not have money so cannot give. The Govt bodies are not attending to any problems in the infrastructure like roads water, water tank, sewarage, Electrical installations. Now for each of these repairs we have to shell out money from our pockets to get them fixed In rainy season atleast 5 transformer blows/bursts and to fix each one it cost us Rs 17,000/- This place is like hell on earth. Inspite of complaining to govt bodies no body listens/cares or even bothers it is almost like zimbabwe. So how do we handle this situation. Is there any way atleast we can get a part of the money?

Reply Follow

6 Replies

Nazeer Ahmed (Managing Director) 21 February 2012

Sir, I can say this that we have to be very careful while purchasing such plots. It is our responsibility that when we share our hardsome money we have to be examined the credibility of such real estate dealers and have to be more vigilant rather than blaming the system and others for our own fault.

Parthasaradhy (VP Technology) 21 February 2012

Dear Nazeer,

Thanks for your views. I agree we need to be careful. Actually I did a lot of background check on the guy. He was ok intially but later he had issues in buying land for phase 3 and phase 4 of project and dropped this project abruptly. Whatever he has developed he has done it very profesionally. Theproblem is with this association concept. It is a failed concept and is not working anywhere in Bangalore. I do not understand why Govt still has thisin place they rather remove it so that it becomes easy for people/citizens. Once they collect in the name of maintainanace and not give we need to go to court and they have good lawyers and know how the Indian system works so get it delayed so that we will give up and they can pocket that money. So that is free money for them 85lacs which a lot of people can;t even imageine making ina lifetime. That fellow just goes and buys another site and BBMP/BMRDA/DTCP closing their eyes give approval if he has the worst track record. So citizens are cheated and crooks make merry.

Is there any way we can atleast get water in our layout is the million dolar question. Lot of them are thinking of selling their houses and going abroad.

Nazeer Ahmed (Managing Director) 21 February 2012

Yes there is. First of all you form an association with all those people and take this matter to the Police economic cell and if they did not entertain your complaint you move court under 482 and seek direction for the inquiry and investigations and then to prosecute the culprit but you have to cross a lot of hurdles which you and your association have to be prepared for this. Definitely you will win.

Parthasaradhy (VP Technology) 21 February 2012

Thanks for the advice we already have an association I will appraise them the steps you have suggested. Thanks for the suggestion we will try and see how far we can go hopefully there will be light at the end of the tunel. There were times when there was no light in entire line of houses and no Govt body came to help. Funny thing is this is BDA approved layout and we pay teaxes to BBMP and this is the state of affairs.

Nazeer Ahmed (Managing Director) 21 February 2012

You do not worry proceed legally as per the law of the land if you further need any help you can call me at 9790999581 it will be my pleasure in helping you and getting you the justice.