Sobha

In the month of September 2018 I booked 2BHK flat in Sobha Dreams by paying 4Lakhs, at Varthur road but due to some emergency I had cancelled my flat booking only after 2 days of booking. At that time Sobha Executive told me that they will refund my amount after 90 Days whereas as per to RERA guidelines it should be 45 Days. I said it ok, but when I reached them they told me that they will refund amount in March 2019 and this time too I said ok. And when I follow them in March they again told me to give me it in April but no its May 2019 since then it's already have been more than 8 months and still no there is no sign of refunding the booking amount by Sobha Dream.
Such a disappointment from one of the reputed builder in the country.

Client Code : CC21219
UNIT No - B3- 46012
Sq. ft - 1, 205.47

Sobha sales folks are the worst people I encountered. They talk very nice before the sale is made. Once the sale is made then they dont even bother to respond.

Their CRM team does tries to help but then its just limited. We booked a flat in Indraprastha in June 2017 and paid booking amount. When we received the agreement letter the purchase price mentioned was wrong. They took over 3 months to correct this purchase price but meanwhile they started charging interest. The MD was changed it seems and thats the reason we were told for the delay. The sales person Ganesh also mentioned that we have 90 days from receipt of correct agreement letter to pay for first installment but they started charging interest. The sales person Ganesh kept on promising that he will get the interest waived off but this never happened so far. He and his boss Mr Moiuddin kept on promising that the interest will be waived off. We were calling them almost every week to get the updates since last 7-9 months but they just keep saying that the file is with their MD. Recently about a month back we started involving their CRM folks. The CRM folks also tried getting Ganesh & Moiuddin to get the interest waived off but no results so far.

The interest portion is over 5 lacs now. We are utterly frustrated with Sobha folks and are regretting investing with them.

Seriously thinking of filing legal case in consumer court and RERA court.

Thanks

The company provided unscientific car parking facility in between the pillars, I can not park my cars and I am forced to sell bigger car because of the Sobha design issue. Very sad having paid 1.5 Cr I get a parking space just 800 CC Car and top of it CRM adamant show really sad part of professional ethics. I will never buy or refer even my enimies to them in life time

Date: sep-2016
Issue: apartment not handed over to me
Property: sobha city
Sobha asked me to pay 80% of total cost of the project in year-1 in 3.5year project deal. I refused to pay 80% as it is inappropriate and kept protesting on this issue. But they charged me interest due to delayed schedule.
Can any one help me filing a case with them and taking this matter to authorities seriously. I would like to do social campaign on this issue and legally sue them. I am still paying huge emi's to bank.

Any of your guidance will help me take appropriate action.

I got call from shobha dream acres panathur Bangalore sales manager Shirish Govind on 9th July 2016, they booked taxi for site visit and sales manger explained nicely then i asked him on refund policy when certain incedent happened.
He said clearly if you lost job or not able to pay many due to reason then your advance amount (i paid 50000 rupees) will be refunded immediately without any reason.

based on his suggestion i paid money and ready to pay amount for 62 lakh for 2bhk flat Unit number A3-05012, SBA 1007.36.

Unfortunately on 14th July, i lost my job and sent a mail of proof for job lost to same sales manager Shirish Govind on same date.
He said you can go to court and file case against advance amount refund.

I was not expected this answer from Sobha developer sales manger.
i got shock by listening his statement, what he said initially before payment and after payment his statement was just like NORTH and SOUTH pole.

Now i am worrying to go to court, as we know our court judgement date.
i can show plenty of evidence on cheating doing by sobha developers sales
manager.

Please refund my money 50000 rupees and kindly provide justice to me.

Thanks
Regards
Ramesh
+[protected].

Why they are doing like this to frustrate customers?

are they not right to live in this society?

are they got money from tree?

why this atrocity on customer after taking money?

can they do any thing if they have money?

why they says company policy not refundable?

if this is the case then why they said in mail on refund possible if genuine reason?

Can they purchase everything just because of money?

can they survive and achieve more by doing illegal?

definitely they will not run their business if they harm to some one who earns money with hard work?

are they human being if they dont have humanity and common sense?

Evidence copy:
I have advance payment copy
job lost copy.
conversation mail copy.
have another sales manager of same sobha developers said refund possible to my case mail copy.

I have booked an apartment in Sobha which is due possession March-2016. my payments started Mar-2013. so far I paid them 84lacs (85% of total cost already paid in less than 10months of begin of constuction, 26 more months to go). now they are demanding 20lacks more. first of all I am out of money due to this unstructured demands. second part is demand is non-ethical as in project completion is 36 months, demanding 95% of payment in first 12 months. their sales personal explains that demand is balanced for the tenure of the project. I am totally frustrated with the money torture of this company. they call many times and threaten to charge huge interest on top of un-foreseen demands. I have seen other developers, they charge 70% during constriction and 30% on completion. this company is making me pay interest for their profits. let me know if I can file a consumer case on them, what act & what kind of compensation can be claimed.
Thanks Brijesh

Sub: harassment by builder "sobha developers"
About 18 months back sobha developers announced launch of sobha serene project in chennai. We booked a flat then worth about rs 77, 00, 000 / - and paid advance of rs 3.00 lakhs. A bank loan of about rs 58, 00, 000 / - also was sanctioned by hdfc. Due to mismanagement, the project got delayed by about 18 months. The agreed payment mode was 10% initial payment+ rs 58 lakhs bank loan+ 15% payment on handing over. We kept the 1st stage payment ready.

Please note that the appreciation of flats is highest in chennai and is about 15 to 20% per year.

Recently they announced re launch of the sobha serene project. We were immediately asked to pay 25% as initial booking amount within one month, which is double of what was agreed for initially. We tried a lot but could not raise this amount in such a short notice. The company was indirectly forcing us to cancel the booking by saying that if the 25% payment was not paid, the booking would be cancelled. Finally after having undergone severe mental torture we cancelled the booking. Sobha was indeed very happy to back the rs 3.00 lakh advance with interest within a very short period. Their intention was to force us to cancel the booking so that they could re sell the flat at rs 5, 800 / - per square feet. (It was to be sold at about rs 4400 / - per sq. Ft about 18 months back)

Please think about our ill fate as a buyer who just believed in sobha's reputation.

1) we have booked a flat at sobha serene for rs 77, 00, 000 / - about 1.5 year back. We have paid the booking advance of rs 3, 00, 000 / - also got the bank loan amount of rs 58, 00, 000 / - sanctioned by hdfc. Further we kept ready the second stage payment of rs. 5, 00, 000 / - by getting another gold loan. This money was just parked till about 3 months back ready to make the first stage payment to sobha.

2) few of my colleagues who bought similar flats (Worth about rs 60 to 70 lakhs) last year with some other builders, are planning to shift to their new flats now. The price of these flats now has gone up by about 20 to 25% in chennai. If we opt to cancel the sobha flat and buy a new one it would cost us an additional rs 15, 00, 000 / - to rs 20, 00, 000/-.

3) I am currently staying in a rented apartment (At teynampet) paying about rs 30, 000 / - per month. As this project is delayed I need to shell out another rs.3, 60, 000 / - as rent till I get a new flat considering one year delay.

Can you imagine the price we have to pay for relying on the most reliable sobha developers?

1) one year interest for rs 3, 00, 000 / - : approx rs 36, 000/-
2) 8 month interest for rs 5, 00, 000/-: approx rs 40, 000/-
3) additional money if we go for a new similar flat today: approx: rs. 13, 00, 000/-
4) additional rent we have to pay for another year: approx: rs. 3, 60, 000/-

Nett loss if we cancel the project with sobha: approx: rs. 17, 36, 000 / - + mental torture by sobha

Sir,
Is there any rule / regulation in india to bring these kind of frauds to justice. We are ordinary working class and do not have time and money to get into legal proceedings against these giant frauds. But at least I have put in my efforts to expose those who claim to be "billion dollar companies" or rather "billion dollar frauds".
They basically target clients with black money and hawala money and do not care about the ordinary working class who get carried away by these & ldquo;great billion dollar companies / frauds”.

Please advise what could be done in this regard.

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.