Sobha Moonstone -- Bad experience

Review On Sobha Developers, Bangalore

I have paid advance in 2006 for Sobha Moonstone with a promise from builder that permissions would come in 2 to 3 months. At last permission has come in the month of Feb 2008. At the time of sale agreement down payment of 25% is made.

Even after one year construction has not started. There is no communication from the builder. Whenever you reach CRM they say "Construction will start very soon". Huge amount of Pre EMI money is lost in this game. Construction is delayed by at least 2 years as of today. Risks with this builder:1)

Construction agreement is one sided. One particular clause which says "If you modify the apartment builder is not liable for any penality charges for delay". Technically the project can be delayed for ever but till if you changed your flooring from Vetrified tiles to granite Sobha is never liable for any payments.2) Lack of communication:

Once booking amount is paid they will never contact you again. You are at their mercy3) Escalation Mechanism: They dont understand nor respect any escalations. 4) Penality clauses: On cancellation of either parties fault you will lose 25% during booking time and 5% on total construction cost of the apartment (Not on the money you paid so far, total construction cost)5)

For any reason if they are unable to build only option is to move to some other apartment, you will never get back money. You can join https://groups.google.com/group/sobha-moonstone google groups.

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Comments on Sobha Developers - Bangalore Review

It is really unfortunate that Sobha is adopting these tactics, even though i am a shareholder, i blasted them on their agreement clause. In fact i had suggested that sobha should compensate 50% of the rent paid by the customer after 3 to 6 months of...delay, it would have been a self starter for the project. Now there is downturn, the builder will be gain 30 to 40% in cost of raw materials is he going to pass on the benefit. No way. Anyways good luck dear. I will try to raise this matter in the shareholders meeting if possible. I think you too should pick up shares of Sobha and blast them in the AGM. Raise a stink may be they will reduce your apartment cost by 40%  Read More

By: derebail2008 | Feb 14, 2009 08:31 AM

Almost all reputed builders have legal stuff on their side. Better to deal with low rung dealers and make agreements as per our needs.

By: Ilyasmd | Feb 14, 2009 10:46 AM

sad :( to hear ! A reputed builder... why the hell they cant return money since they broke all the promises? they told it will happen in 2006 and started in 2008 and nothing has done so far.. you have the right to get it !! all the best.. very useful...one  Read More

By: appus | Feb 14, 2009 10:56 AM

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