Cheating at its best & one sided agreement

Review On Puravankara Builders, Bangalore

Visit to join group to fight against Purvankara

https://finance.dir.groups.yahoo.com/group/purvahighlands/?v=1&t=directory&ch=w
eb&pub=groups&sec=dir&slk=5

One sided agreement will not hold good in court anymore as the intention is clear - that is to cheat custom take outers and the court does take cognizance of that.

The Purvnkara builder is taking gullible customtakeouters for a ride as we dont get the agreement checked by a lawyer and trust the builder completely. We feel that a reputed builder will deliver on time at

the mentioned cost and hence overlook the finer details and sign on the dotted line.

There are limits and some fair rules that have to be followed. Almost every employer asks employees to sign non-compete agreements. Some like TCS also get employees to sign in bonds. Time and again Indian and American courts have ruled that such agreements and bonds are invalid even though an employee might have signed on the dotted line.

Crisil had downgraded the Purvankara Projects' IPO grading on grounds that recent delays in project completion have affected the company's track record.Akash Deep Jyoti, Head-Corp & Infrastructure Ratings at Crisil says this downgrade of the developer rating was triggered by the company’s aggressive project timelines maintained by the company without adequate support from systems or manpower.So, this is enough proof to the court that the company is delaying projects on purpose and should strenghten your case

A one sided agreement totally in favor of the builder can get quashed in court. So, it can be challenged and you can get compensation. Please file the case in consumer court and they will take it up with the builder. It will not cost u much as well, around 500 rupees.Please check the below links for details

https://consumergrievance.com/index.htm

https://consumercourt.net.in/

https://consumerdaddy.com/home.htm

https://kaggadasapura.com/consumer-court-bangalore/

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Out of 1500 hundred apartment owners, 200 of us have formed an association and contributed a large sum to fight Puravankara. More are joining hands as they get convinced that getting justice in India is possible. That goes to show the severity of the problem. Also I don't want to give you guys an impression of one disgruntled customtakeouter.

As it is, the agreement itself is harrowing. As a customtakeouter you feel totally left to the mercy of Puravankara. Then there are things as follows:

In Feb 2006, I was given a payment schedule by Puravankara. For me that schedule was difficult to meet and I asked Puravankara to revise the schedule. It took Puravankara guys 40 days to tell me that the schedule could not be revsited. I have saved the email exchange that I can share.

In June 2008, I was told by Puravankara that I have been charged 50000 rupees for that 40 days delay. I thought that there is a mistake in calculation and I approached Puravankara (premc@puravankara.com).

To my horror, I was told that the although the delay happened from their side in reaching the decision. I should have been more cautious and made the payment as per the schedule while the decision was pending. I was also told that according to the contract the delay in payment attracts interest penalty and I'l have to pay the interest charges.

For everybody's information, the scheduled date of delivey has gone by more than 15 months. Stll the apartment is not done. Instead of paying us compensation and being sorry the Purva executives are behaving rude and hawkish.

My questions are:

1. Should I be paying the interest penalty for a delay caused by Puravankara executives.

   
   




2. No matter what the contract says, should I not be getting compensation for the delay in delivery of the apartment. I have paid 40 lakhs and a simple interest at 12% would be around 6 lakhs.

   
   




3. Purva people are harrassing me and others like me. Can I bank on your support.

   
   

Please write individually to Mr. Prem (premc@puravankara.com) seeking his explanation on the matter.

Please spread the message to stop Puravankara from its implorable designs.

Thankfully yours

Rishi Agarwal

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Dear Friends,

Please forward this mail to as many people as possible.

My name is Rishi Agarwal and I am a 1996 EE graduate from IIT Kanpur. I returned to India in 2005 and purchased a flat in Puravankara Fountainsquare. Please go through the message to see the horror story.

I wanted to write this mail to all of you so that all of you can

benefit from my (our) experience with Puravankara Projects Limited. I

purchased a flat in their Fountainsquare project in Bangalore and

this is the story of all my fellow Purva owners.

The agreement that we signed with Puravankara has the following:

1. The delay from our side is charged at 24% per year.

   
   




2. The delay from their side will make them pay at 6%.

   
   




3. They don't have to pay the penalty if we delay two payments by

   
   

more than 2 days.

1. What they call as delay is also decided by them.

   
   




2. They reserve the right to cancel the agreement at any time and

   
   

they will keep 15% of your money.

Sounds scary right? but every word here is true. I can scan and send

the agreement to all of you.

Why would you think I signed the dotted line? Why did any of us sign

this flawed agreement? The thing is that when you go to a premium

builder (for which you pay a premium), you expect to have a smooth

transaction. You don't expect such uneven agreement. At the least,

you'd expect that they'll not exercise it.

Puravankara is exercising it bluntly. There are 200 of us who are

already in court against it but as you know we have no legal stand.

We have signed the dotted line. Their executives have been

nightmarish and are very discourteous.

Please contact Mr. Prem at premc@puravankara.com in case you want to confirm the validity of what I wrote in this mail.

Please come forward and teach the unethical business house a lesson.

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