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Sobha Developers Complaints & Reviews - Book Sobha flats at your own risk

Sobha Developers Contacts & Informations

Sobha Developers

Posted:    potler

Book Sobha flats at your own risk

Complaint Rating:  100 % with 10 votes
Contact information:
Building, Construction, Flats, Real Estate
India
sobhadevelopers.com
There are many reasons, why you should be careful before booking flats with Sobha Developers.
1) Delivery Delays (my project delayed by 1.5 Yrs and still not sure of exact handover date...this could be longer)
2) Be ready to lose 25% of project cost...by the time they deliver, your net project cost would have gone up by 20-25% (my experience)
3) Careful with their agreement clauses
4) Careful with their payment schedule...this has no relevance to their construction progress.
5) Careful with their sales promises...knowingly or unknowingly they may be cheating you (my personal experience) and management does not care about those promises.

Delivery Always late

I have booked a flat in Sobha Iris in Jan-06. The flat was supposed to be ready by Feb-07. The delivery was postponed 3 times till now. Sobha gives a date and when the date nears they postpone it by 6 months. The current promised completion date is end-July’08 (mind you...it’s completion date but not handover date !). Even if they handover in Aug’08 it’s a good 1.5 Yrs delay.

Financial Loss.
If you book a Sobha flat, be ready for a loss of about Rs.10 lac. I have calculated my financial loss to be about Rs.11 Lac (assuming delivery will be in Aug’08).

Do they cheat ?
Am not sure whether it is intentional. We were given a payment schedule and were told by their sales that the construction will be completed as per that schedule. However, 96% of the payments have been collected by Aug-2007 (means 96% of the construction should have been completed) and the rest 4% takes more than an year !! It means, Sobha completed that part of the project which gets them money on time and conveniently delays the rest for any period as they have already got their money (including profits!!). Very efficient cash flow planning with customers money indeed !! Mind you, they are right to have collected the money, if you look at the agreement wording. I only hope that this is not a new form of organizational cheating.

Agreement Terms
They are mostly one-sided. They also charge hefty Advocate fee from customers. This basically means you are paying the advocate fee to have the agreements designed for the benefit of the "Other Party". Considering that all the agreements use the same format - Advocate fee is really wonderful profit margin !
Be cautious of delay clauses : What happens if the project is delayed ? Developers may also have a clause to pay penalty on delay. But look at these clauses carefully to see when they are not applicable and argue with them to change suitably.
Be cautious of Payment Schedule : Ask them questions on, what it means in terms of actual completion. Most probably, you will pay all the money at least 1 yr in advance, though they claim otherwise !!!
Ask them questions on sharing of financial loss. e.g. if they delay the project by 1-2 years, govt may increase taxes & levies. If the increase is substantial, then you will lose a lot.
Comments India Building, Construction
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Comments

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 5th of Jul, 2008 by   Natraj 0 Votes
Absolutely agree with these statements!! To me Sobha Developers is bordering on organized cheating! I have booked a flat with Sobha Hillview. They have already announced a one-year delay. God only knows how much more it will further be. And of course, there not a paise of compensation. I would strongly dissuade potential property buyers from considering Sobha. They USED to be good; no longer.
 9th of Jul, 2008 by   swatiubgade 0 Votes
it is rushikesh ubgade, s flat he paid some amount.sobha developers still had not given him the possession of the flat. society still had not phoned us about registration of the flats our all construction papers are with icici bank .these papers we submitted for loan application in the month of march 27 2007. society should keep contact with us. i am giving you my phone number 2241161 land line call facility is in our home at nagpur. call us on the given nuber 2241161
 30th of Jul, 2008 by   Veresh 0 Votes
Please find some more comments here http://www.newscrux.com/2007/01/07/experience-with-sobha-and-mantri-developers/
 22nd of Aug, 2008 by   Zak 0 Votes
I wanted to buy one falt in Bangalore form Shoba, thanks for the comments above I am now looking at other builders..Shoba is out for the list.
 26th of Mar, 2009 by   prakash 0 Votes
Gentle friends who have booked for Sobha Moonstone... there has been no construction to date (26-Mar-2009). Sobha are refusing to refund the money paid with interest. I'm taking them to Consumer Forum.
 12th of Feb, 2010 by   Sujay123 0 Votes
I strongly suggest that one should not buy property from Sobha Developers. They have such a huge brand value, but their people, processes and technology is very very poor. Being a buyer of an apartment of Sobha Magnolia, I have sufferred very much. I put in my first booking money in early 2005, only to take possession after 1.5 years of delay in late 2009. Sobha themselves admit that they had no prior experience in building such tall structures and it was a learning for them.

As always, the agreements are one sided favoring them. There is a clause that says that if you do a modification in the apartment, you are not entitled for project delay compensation. A change in a tile also amounts to modification. A point to note is that those who did not do modifications are also yet to be compensated.

All in all, it was a painful 5 year journey on Sobha Magnolia. The delay has resulted in huge financials loss. As said earlier, their people, processes and technology is very very poor.
 10th of Apr, 2011 by   rainava 0 Votes
I strongly agree with the attitude sobha developers display towards their customers. this was reflected in their delaying tactics towards making payments for a flat which they have taken on rent since 2008. Their payments are always late and they offer flimsy excuses like "Out of station" "busy with meetings" "accounts department is closed (wonder how they get their paychecks on time!!!)" "someone's relative expired" "have already sent the payment (when they have not paid rent since five months!!!)"... On top of that, when the rental agreement mentions that only five to six people can stay in the flat, about 12 to 15 people are accommodated and they cause nuisance to all people in the neighborhood. The people form sobha developers used to come to the flat drunk very often and used to spit out of the windows and use foul language when confronted by the neighbors. As a result, the flat owners are running a financial loss of over 1.5 to 2 lac rupees and a lot of loss of goodwill among society members. Can anyone suggest where I can lodge a complaint against the company, any legal recourse etc...

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