[Resolved]  Shreya Developwell P Ltd. — Non-refund of booking amount

Your Rs.2.5lacs is blocked Mr. Saket, but my Rs.4.5 lacs are blocked. What can we do? Its pathetic situation. We all are working people and do not have much time but we have to be active otherwise things will become worse. there is a meeting on 6th Sept'09. More and more people should be present in the site of shreya dev.

I think we should all co-operate with the association which has been made. I have also paid Rs.1250/- as fees for legal matters to be solved in the association for fighting with Shreya Dev.I request all of the members to participate. Its our hard earned money and we have to fight and without co-operation its is not possible. Mr. Goel is doing good for helping all o[censored]s including him.

All of you and specially Mr. Peeyush, just think is your nominal fees for the association Rs.1250/- is more important or the lacs of Rupees you have paid to Shreya Dev? U should think once again. The main thing is that we should get our houses and that too fast for which Mr.Sachin is taking initiative.If you can bring more and more people and convince them it would be even better. I request Mr.Goel to hold meeting every sunday so that the things could go fast.

I totally agree with Mr.Goel. Yesterday my husband got a call from Bank that pay the EMI .Now someone in Association is saying that Shreya Developwell has deposited our interest part of EMI for 6 months. My loan is from IDBI Bank. Is it true? Please help and give the correct information.

I have taken this from website of home loan query:-

Date : 14 Jul, 2009

Question

i have taken a housng loan from IDBI bank for purchasing an apartment. The apartment is not completed and the builder is absconding as he dont have any nmoney or assets to complete the project. Few o[censored]s registered case in consumer court and court verdict has come against the builder asking him to complete the work or refund our money. He is not willing to do anything as he dont have a penny with him. Tht is why he is absconding now. I am keep paying my EMIs to IDBI bank which I can not afford any more. I am in deep financial trouble now as I have to pay EMIs and rent as well. In this situation is there any clause or banking rules to protect me from paying the remaining EMIs to the bank? .

Answer

Unfortunately, you are liable to pay off the EMIs. You can approach your bank for a payment arrangement.


Now, what should we do????This is the same case with us too.

I have also booked a 3B/R flat in Hindon Height in August 2005 and have already paid 25 % of payment.At the time of booking Mr Manish malhotra Shreya developer promised to give flats by December 2009 but still excavation has not been started.I donot know what will happen.I came to know through my friends that Shreya developer site office has closed.
I want to know what to do get our money back.

Mr. Nawal Kishore, Please all Mr. Goel who has taken the initiative to form an association.Its not so easy to get back the money. My 28 lacs (on loan) and 4.50 lacs cash has been given to Shreya Developwell. We are in a chaos and trying to fight with SD.I think we should bring more and more people together who have booked in this project so that we could unite and put pressure on SD. If possible Please try to get a list of names and phone nos. of the people who have booked flats in SD. If anyone could do this it would be great for all o[censored]s.UI can also call Rachit at [protected]

I want to inform all that Shreya Developwell has closed their office in the site of SD.If anyone will go the site, he can see only the Locked office and nothing else. They have shifted the office somewhere in karkardooma Road.I do not know what is happening. I think we all have be even more active. If the worst happens we can take all the properties of Shreya Developwell under our society and then try to go further.Please Mr. Goel do something.

Yet another victim... now how do we get the money back ?

It has come to notice that Mr. Goel is applying for refund of the Amt paid to SDon behalf of all members of the association of SD. Let's see what happens

Where is he applying ? How to join the association ?

Call [protected] to Mr. Nasir or [protected] to Mr. Bineet Kumar

or call [protected] to Mr. Sachin Goel

There is going to be a meeting of shreya developwell association on 11th Oct'2009 in SD Site. All should come there.

I took this from a website:


how to buy a house -2 cntd
Posted on Apr 09, 2009 under General


When do I get my house?

Most agreements do not clearly specify the date of delivery. For instance, one says: "Completion of the building is expected to be delivered by the date mentioned in the covering letter of this allotment. The delivery of the possession is subject to force majeure." What this means is that you cannot hold the developer responsible if he does not stick to the promised delivery date.There have been cases when the delivery has been delayed by 12 months or more. Typically, the buyer would have paid 95 per cent of the price by the time he reaches the expected delivery date. If he is living in a rented house, delays will drive his calculations awry as he would not have factored in this additional rent (see Double Bite). Mumbai stockbroker Bhupendra M. Pitroda, 58, fought a legal battle against Megha Property Developers for five years. Reason: delayed possession. Pitroda was promised delivery of the flat he booked in 1998 in Navi Mumbai's Madhuri Cooperative Society Housing Project within 18 months. The builder later said that delivery would take another six months. When Pitroda visited the site six months later, he felt that the delivery would not happen soon. So, he instructed his bank to stop payment of the balance 37.5 per cent of the apartment's cost to Megha Developers.The developer promptly sold off the flat. An aggrieved Pitroda then moved the State Commission in July 2000. Three years later, the commission asked Megha Developers to refund Pitroda the money he had paid with 15 per cent interest. Pitroda was also awarded a compensation of Rs 15, 000 for the mental agony caused and Rs 5, 000 for legal costs.The developer appealed in the National Commission, which upheld the State Commission order but cut the interest to 9 per cent. The developer then moved the Supreme Court. "The Supreme Court judge flung the papers in the face of the builder's lawyer and asked the builder to compensate me immediately. The judgment was over in a minute, " says Pitroda. Through the legal battle, Pitroda made 25 appearances in the State Commission, three in the National Commission and one in the Supreme Court. Many agreements have penalty clauses for delayed delivery, but they are without bite. For example: "If the company fails to complete the construction of the said building/apartment within the period as aforesaid, then the company shall pay to the allottee compensation at the rate of Rs 5 per sq. ft of the super area per month for the period of such delay." What this means is that for a 1, 000-sq. ft flat, you would get a compensation of Rs 5, 000 per month?a pittance (see Double Bite).In most cases, buyers put up with the delay quietly rather than 'antagonise' the builder. Most fear retribution, harassment and further delays in delivery. This is not entirely baseless. For one, agreement papers are designed to protect the builder. Two, your intention to fight the builder may look like a joke given your handicap in terms of financial prowess and influence. Three, there is no industry regulator you can turn to for redressal.

Suresh Virmani of National Consumer Helpline says: "We generally encourage a dialogue between buyers and sellers to settle disputes. If that fails, the matter is taken to the regulatory body. But we can't even suggest this in real estate because there is no regulatory body."What to do. Don't just take the builder's word on the progress of construction. Check it out from time to time, as Pitroda did. If you feel a delay is likely, start building up pressure on the developer. The best way to do this is to form a society, says Virmani. Usually, builders have many projects running at the same time and they push the ones where the pressure is higher. "The more the number of buyers, the greater is the pressure, " says Bharath Jairaj of Consumer Action Group, Chennai.

Supreme Court advocate C.M. Srikumar says: "Even in cooperative societies, the contractor, the architect and the office-bearers of the society dupe the public." Rahul Todi, managing director, Bengal Shrachi Housing Development, says: "Unlike other consumer products, here we sell a concept first. If there is a gap between expectation and reality, then we are not doing our job properly."What are the most common games that developers play? Here are eight common tricks and ways in which you can guard against them.

. When do I get my house?
Where are my papers?
What's the guarantee of quality?
What else do i pay for? How big is house?
What's the carpet area?
Will I get a well-managed property?

Read further for full explanation of the tricks

Thanks & Regards
Suman

TODAY I CAME TO KNOW A NEWS THAT SHREYA DEVELOPWELL HAS SOLD A LAND LAST WEEK FOR FUNDS. IS THIS TRUE? IF YES THEY MAY START THE WORK IN THE SD PROJECT OTHERWISE NOW EVERYTHING IS OVER...And nothing is left except to get back our money

CAN ANYONE GIVE A LIST OF NAMES, ADDRESSES AND PHONE NOS OF PEOPLE WHO HAVE BOOKED FLAT IN SD PROJECT????? CAN ANYONE AT LEAST GIVE THE PROPER NO. OF PEOPLE WHO HAVE ALREADY BOOKED IN SD???? BECAUSE IF ACCORDING TO RUMORS 350 PEOPLE HAVE BOOKED THE FLATS THERE THEN WHY ONLY 40-50 PEOPLE COME IN THE ASSOCIATION'S MEETING. I THINK THERE IS SOMETHING FISHY...

ITS VERY MUCH CLEAR NOW THAT SHREYA DEVELOPWELL IS NOT GOING TO DO THE CONSTRUCTION IN OUR WHOLE LIFE.I SUGGEST ALL O[censored]ST TO COMPLAIN AGAINST BANK ALSO REGARDING THE WRONGLY APPROVED PROJECT BEAUSE THE LAND OF SD IS ALSO ON MORTGAGE THEN HOW THE BANKS HAVE APPROVED THE PROJECT. I THINK WE SHOULD START DOING DHARNA INF RONT OF SD OFFICE AND BANK NOW.

One of my friends who has also booked a flat in Hindon height Safron -1 since Aug 2008, had gone on site and had a discussion with the director of Shrea developer last week.He has seen on going construction and SD has opened their construction office at site.The other member also should go and check the progress and let us know.