Earth Infrastructure Group Fraud - Cheated Buyers

Earth Infrastructure has been incapable in delivering all the projects which they started. They have failed in giving assured returns and have no concrete answer about why there has been a delay in delivering in the Earth Infrastructure Builder Project and how they plan to deliver the projects.
Earth Builder done fraud with their buyers

Earth Infrastructure has been incapable in delivering all the projects which they started. They have failed in giving assured returns and have no concrete answer about why there has been a delay in delivering the project and how they plan to deliver the projects.

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Bengaluru realtors scurry for cover with $1 billion bad loans - Cheated Buyers

BENGALURU: Loans worth more than $1billion, or about Rs 6,800 crore, given to various residential developers in Bengaluru over the last few years by non-banking finance companies (NBFC) are in distress and seeking bailouts as developers struggle to repay them due to sluggish sales and stringent regulations enacted recently.

Several of the city’s second rung and smaller builders are being dragged to the National Company Law Tribunal (NCLT) or forced to part with their assets after defaulting on loan repayments. While the heat is mostly on the smaller builders, a few top developers are also in the list as they struggle to refinance the loan books.

This comes even as select projects have reported good bookings in the last two months, though recovering sentiments have eluded vast swathes of Bengaluru's residential market, one of the most resilient in the country.

The list of bad loans, reviewed by this newspaper, shows that 18 developers alone amount to over Rs 5,500 crore, or $800 million, pegging the total distress amount higher than $1billion.

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CM Khattar takes on fraud builders- Cheated Buyers

Gurgaon:In a bid to resolve the issues of people who have invested in builder societies in Haryana's Gurgaon city, Chief Minister Manoharlal Khattar on Thursday attended a grievance redressal committee meet and took over nearly 35 cases of absconding builders and constructions moving at snail's pace. 

One such case of the terrible state of societies in Gurgaon is the Shanti Niketan Group Housing Society. The Group Housing Society was registered under Haryana Cooperative Societies Act, 1984 on May 23, 2003 by a group of builders with the commitment to build 96 flats of different denominations. 

They sold the flats at an amount exceeding Rs 70 Crores collected from buyers but the society is yet not complete after 12 years. The construction work stopped in 2010. The builders are not ready to place the documents and accounts of the society in front of the buyers. The hard-pressed members of these sham societies have high hopes from the BJP-led government in Haryana for speedy justice to their money. 

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Realty cases against Aliens, Lodha, Mantri, others pile up at Telangana state commission.

It's raining complaints from home buyers at the Telangana State Consumer Disputes Redressal Commission. At least so it seems from the official records, which suggest that close to 200 such cases have been filed with the commission in the last one year alone between June 2014 and June 2015.

Prominent builders that find themselves on this list of'accused', include Aliens Group, Lodha Group, Aditya Constructions, Mantri Developers, Lanco Hills, Janapriya, Royal Home Constructions, among many others. Given the ongoing turmoil on the premises of the Tellapur-based Aliens Space Station-I venture, it comes as no surprise that the maximum complaints, i.e. 115, lodged so far are against it.

"Most of these complaints are with regard to an inordinate delay in completing the projects," confirmed an official from the state's consumer affairs, food and civil supplies department, of which the commission is a part. He also added that the numbers are fast increasing with every passing day.

Unfortunately, however, there seems to be no immediate respite in sight for these customers who have been running from pillar to post to recover either their properties or lump sum deposits. This, as the Telangana state commission  even after a lapse of eight months since its separation from the Andhra Pradesh wing is yet to get a president to head its day-to-day affairs. Result, piling of files with no one to attend to.

"It is frustrating to say the least. With the developer not paying heed to our concerns and the government too not intervening in the matter, we have no place to go to for help," said Prashanth V, an aggrieved customer of Aliens Group, while ruing the critical situation facing scores of home buyers who have been left with no choice but to pay hefty EMIs as banks too have refused to cooperate. The tragedy: zero guarantee of a home at the end of the road.

Incidentally, the Telangana government has failed to appoint a president, despite orders from the Hyderabad High Court.

"Our sources tell us that the realty mafia is hand-in-glove with the government in delaying the appointment," said another home buyer on condition of anonymity, adding,"They are waiting for the sector to revive before their cases can come up for hearing before the commission."

While the commissioner of consumer affairs, food & civil supplies, Rajat Kumar, refused to react to these allegations, he did admit to an unprecedented delay in the appointment of the president."There is no denying that. But there are three district consumer forums in the city, so it isn't like there is a major delay in hearing of cases. We are hopeful that the appointment issue will be resolved in the next one month," he said.

Times view: The government should immediately appoint a new president at the earliest considering that the redressal forum is imperative to resolve the grievances of the common man. Apart from Real Estate-related matters there are several other cases, which need speedy disposal.

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Hooda’s land largesse for pvt builder ‘clear fraud’, SC restores it to HUDA

A landmark Supreme Court judgement has given huge relief to farmers/landowners, while quashing the “illegal” and “deceptive” licensing of 280 acres of land in Rohtak, Haryana in 2006 to Uddar Gaggan Properties Ltd.

This serves as a body blow to former Haryana Chief Minister Bhupinder Singh Hooda and other state officials who are facing multiple probes for facilitating the private enrichment of builders through similar illegal licensing.

“The unholy nexus to promote the private interests” of builders by “transfer of resources of poor for the benefit of the rich”, through “gross abuse of law” and “clear fraud” referred to in the judgement, has been detailed in a series of media exposes, beginning October 8, 2012, first about the irregularities in property dealings involving real estate major DLF and Congress President Sonia Gandhi’s son-in-law Robert Vadra, while later going on to uncover Hooda’s modus operandi to favor a host of other builders, including Uddar Gaggan.

Hooda’s modus operandi

This earlier expose had revealed that Hooda was acquiring land from poor, illiterate farmers at a low rate in the name of ‘public interest’ only to later license this to builders after bestowing out-of-turn favors that helped the land value increase exponentially.

The facts disclosed therein, had pointed to Hooda’s motivation in licensing a staggering 24,825 acres of land during his 10-year tenure as Chief Minister, as against just 8,550.32 acres by successive Chief Ministers in the 23 years preceding Mr. Hooda’s rise to power in 2004.

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No relief for Lodha group on sale of flats in Hyderabad's Bellezza project.

The bench questioned the builder and the authorities as to how builders were being per mitted to go ahead despite failing to provide basic facilities like parking.

The Hyderabad HC on Friday made it clear that it would call for a report from the GHMC on the ongoing tussle between Mumbai-based developer Lodha Constructions and the apartment owners of Lodha Bellezza at Kukatpally .

The bench of acting Chief Justice Ramesh Ranganathan and Justice M Ganga Rao, hearing a plea filed by Lodha Constructions, also refused to vacate a single judge's order restraining the builder from selling flats in Lodha Bellezza and Lodha Meridien and posted the matter to next week.

Earlier, following a plea by Bellezza Apartment Owners Association, a single judge stayed the proposed demolition of acompound wall built between Bellezza and Meridian and di rected the authorities to ensure that no sales are registered in respect of vacant flats. Aggrieved by this, the developer filed a plea urging the court to vacate the stay on sale of flats. But flat owners in the two schemes, particularly Lodha Bellezza, are accusing the builder of misleading them and GHMC.

The bench questioned the builder and the authorities as to how builders were being per mitted to go ahead despite failing to provide basic facilities like parking. Stating that there is no urgency to intervene, the bench declined to vacate the restraint order passed. “At a time we are struggling to reach out to those who are weak and cannot afford to wait for long, we cannot spare time, that too on an urgent basis, for those who can afford to wait,“ the bench said.

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Rohini scheme plots likely to be allotted in March 2018

DDA launched the scheme in 1981 for all economic categories in the area spread over 2,497 hectare with an aim to accommodate 8.5 lakh people.

Over 14,000 applicants of the 1981 residential scheme in Rohini are likely to get their flats by March next year, the Delhi Development Authority (DDA) said on Wednesday.

Officials said DDA would complete all civic development works in the scheme by December-end before starting the process of allotment.

“Our target is to complete all development work in the 1981 Rohini residential scheme by end of December. We would then issue allotment-cum-demand letters to the 14,352 allottees within the first quarter of the next year (2018),” principal commissioner (housing) DDA JP Agarwal said.

“Basic infrastructure, such as sewage, water, electricity and roads is still to reach these sectors. According to DDA officials, the development work is being done and it is expected to get completed by March next year,” a DDA official said.

DDA launched the scheme in 1981 for all economic categories in the area spread over 2,497 hectare with an aim to accommodate 8.5 lakh people. In 1981, the scheme offered 1,17,000 plots for which 82,384 people had applied. Of the 82,384 applications, 80,587 applicants were eligible. Some 24,461 applicants got MIG plots, 37,665 got LIG and 18,461 got Janta category plots.

But the applicants have since been waiting for their plots; many applicants have even died.

In fact, the DDA allotted 25,000 plots in 2015 after the Supreme Court’s intervention. According to the DDA, 10,289 plots were allotted in 1982, another 10,103 were allotted in 1983, nine plots were allotted in 2001 and another 750 in 2014.

The proposed scheme comprises plotted, group housing, and other community facilities in Rohini’s sectors 34, 35, 36, 37, and 38. The plot sizes range from 36 sqm to 90 sqm.

Explaining the delay, the agency said in a statement that the scheme was delayed after 1991 on account of various litigations filed by land owner and applicants in the Delhi high court and the Supreme Court.

“The demand-cum-allotment letters of 14,352 allottees are yet to be issued due to delay in development of land, which is likely to be completed shortly,” the statement said.

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