Purva Venezia

Review On Puravankara Builders, Bangalore

An interesting Project. When the project was launced the builder promised to handover the apartmenst in 36 months. Guess their calender is different from the ones we use.

Though they were ot handover in March 2009, they send an Email starting that there is a delay as they using a new technology ( new technology is meant to speeden up a process not delay) so the project will be handed over in Sep 2009.

They then follow it up with another mail in March 2009, and say that everything is progressing fine, bu tthe project is delayed due to exonimic slowdown and also because of lorry strike the project Phase one will be handed over in April 2010.

There was a lorry strike for about a week, but can this cause a delay of 6 month to 1 builder. Is this builder a new entrant in this industry that he lacks basic project planning skills.If the apartment owner defaults a payment then he is charged interest on the delayed payent by 24%, however Purva delayes the project by 1 year they will pay you Rs. 5000/- or 7000/- depending on the apartment size. Is this justified? Should they not compensate you at 24% of the monet they have colected?

Why should we pay the bank interest for delays caused by the builder? For those planning to invest in any of this builders projects ensure that you get this compensation clause changed so that it is not1 sided. Given a choice I will not invest any mreo with this builder.

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