2,000 investors, Rs 800 crore paid, but not a brick laid for project launched in 2009

2,000 investors, Rs 800 crore paid, but not a brick laid for project launched in 2009

Eight years ago, a large residential-cum-commercial project, the kind that have sprung up across Gurgaon and other parts of NCR over the years, was launched in Manesar. It got nearly 2,000 buyers, who saw their investments taking concrete shapes on a 104-acre plot. But today, the barren plot is all they have to look at.

The project, Aditya Niketan, never took off. Collectively, the investors say they have paid a whopping Rs 800 crore to the developer, ABW Infrastructure Ltd. And they are worried their money will sink because the plot is mired in litigations, a CBI probe into deals for the land is on, and an RTI reply has informed them the developer did not acquire approvals or licence for the project.

ABW Manesar Allottee Welfare Society, the association of buyers, claimed 1,974 allottees had paid Rs 800 crore as well as Rs 45 crore as external and internal development charges to the Haryana government through the developer for ABW Aditya Niketan, the township was to come up in Sector M1.

Three FIRs have, meanwhile, been filed against the developer, two by homebuyers and one by the department of town and country planning (DTCP), in 2016. But these have failed to provide any relief to the buyers till now. The developer could not be reached for comment.

Read more about ABW Infrastructure on CheatedByers.com

• Officials of ABW Infrastructure booked for cheating
• Police probes Delhi-based builder for duping man of Rs 15 lakh

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Fraud case against Zoom Developers Indore

Rs 2,500cr fraud: Zoom Developers' former VP denied bail

Indore bench of Madhya Pradesh high court has rejected the bail application of Sharad Kabra, former vice-president of Zoom Developers Pvt Ltd, accused in Rs 2,500-crore money laundering case.

Justice PK Jaiswal rejected the bail application given the seriousness of offence. Earlier, a local court here had turned down the application on similar grounds, against which Kabra had moved the high court.

From 2005 to 2010-11, Zoom Developers Pvt Ltd, an engineering procurement and construction firm registered in Indore and operating from Mumbai, had taken loans worth Rs 2,200 crore from more than 20 banks for various projects in European countries. None of the projects ever started and loans were siphoned off through dummy firms.

The money was transferred to dummy companies and properties were bought in the name of Zoom Developers in and outside India. Land in California was purchased in the company's name.

The case is considered to be one of the biggest bank loan frauds in the country.

Find out and connect with other buyers in the project where you have invested @ cheatedbuyers.com

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Frustrated real estate buyers by DLF Builder

DLF gets shareholder nod for promoters Rs 12,000 crore stake sale

This deal, the biggest in the country's realty space, included sale of 33.34 per cent stake in DLF Cyber City Developers Ltd (DCCDL) to Singapore's sovereign wealth fund GIC for Rs 8,900 crore and a buyback of the remaining shares worth Rs 3,000 crore by DCCDL.

In a filing to the BSE, DLF said a special resolution to approve this transaction was passed at the company's AGM held yesterday. As many as 99.96 per cent of shareholders voted in favour. The promoters, who hold 75 per cent stake in DLF, did not vote on this resolution.

From DLF, Prestige Estates to Shobha, realty majors set to report poor Q2 numbers

Cost overruns and festive discount offers are expected to erode the profitability of real estate firms in the upcoming quarterly earnings, according to market analysts. Realty majors such as DLF, Prestige Estates and Sobha are expected to report a drop in profitability by as much as 30% compared to the preceding quarter.

Companies are having to rely heavily on discount or some form of ease-of-payment schemes to generate any interest in their projects. Additionally, companies, including DLF and Prestige, are liable to pay a high interest cost, which is aggravating the crisis.

Read more information about DLF Project :

• KCZMA files another affidavit in SC against DLF's Kochi project
• Expect DLF to get mostly debt-free over next 12 months
• GIC buys 12.01 lakh DLF shares from open market, stake tops 5%
• DLF also cheat all buyers
• DLF flat buyers awaiting occupancy
• DLF’s annual rental income to rise 12 pct at Rs 2,900 crore in FY18

Find out and connect with other buyers in the project where you have invested @ www.cheatedbuyers.com

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Vatika Group property fraud in Gurgaon

Complainants are misleading, says Vatika Group

A few days after a case of cheating and fraud was registered against real estate developer Vatika Group’s Managing Director and three others, senior officials of the group have said that they were being implicated in a false case.

The managing director (MD) and two directors of real state developer Vatika Group have been booked for cheating and fraud of Rs.1 crore.

Following are the complains against Vatika Group

• FIR against Vatika Group MD, three others on fraud, cheating charges

• Vatika MD, directors booked for fraud

• FIR filed against managing director of Gurgaon based Vatika Group

Find out and connect with other buyers in the project where you have invested @ www.cheatedbuyers.com

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Fraud Real Estate Builder Vigneshwara Avenue in Noida

Vigneshwara group MD arrested by EOW

Finally builder & one of the director of vignehwara developer Sunil Dahiya arrested by police

How vigneshwara developers did a scam

Please  see this how developer cheat all buyers & make scam of more than 1000 CR

Builder doing a fraud of Rs 1000 Cr

Builder doing a fraud of Rs 1000 Cr with home buyers..he Advertise home on cheap price and after that both builder brother are run away

Cheating case against builder

Fraud real estate developers in noida

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Legal action Against Delhi Development authority Builder

DDA's 2014 housing scheme a risky business?

Delhi Development Authority`s 2014 housing scheme that will be offering more than 25,000 flats in the areas of Rohini, Dwarka and Narela by 2015 has come under scanner for starting the construction on a disputed land.

DDA : Asst Engineer: Dwarka Sec 23B :Openly saying NO procedure is followed

DDA is harassing flat owners of DDA housing scheme 2014.

People were forced to pay full money by April 2015. DDA not giving posession, making people go round and round in Circles. No written list of documents shared with flat owners, every time you go they give you a new rule and extend the possession by a month.

NO ACCOUNTABILITY, NO OVERSIGHT, NO GRIEVANCE REDRESSAL, NO PROCESS, NO INFORMATION SHARING, ARROGANT BABUS.

People are forced to struggle and face harassment. 

First they lost everybodys Biometric data collected over 3 months 

Second no information provided

You pay money, then they say, go for biometric

Then they need some random affidavit

Then they lose your file.

Every visit, dates given for 1 month.

Total HARASSMENT

Who will bear Interest cost and Rent for people who have paid up hard earned money 6 months ago.

Legal action Against Delhi Development authority Builder

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Cheating case Against Airwil Builder

When will builder's fraud game end?

File Cheating Case against Builder in Noida@ Best Real Estate Review Website Cheated Buyers

When builder will deliver possession of their house

Not only buyers builder cheating farmers also

Builder grab the farmers land without permission and also authority not helping farmer

FIR Filed Against Fraud Builder In Police Station

Buyers make a Association and now they book a FIR against Builder

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