Sovereign Looters Trying their best to dupe

Review On Sovereign Developers, Bangalore

Have booked one 856 Sq.ft. apartment at Sovereign Unnathi with Sovereign Developers & Infrastructure Ltd. No.16, III Floor, SD Complex Jaladarshini Layout, New BEL Road, Bangalore 560054 on 27/08/2011 for basic price of Rs.23 lakhs.

The project was expected to be completed by middle of 2012 but did not happen as the work was going on at snail speed, may be due to the builder diverted funds for other upcoming projects elsewhere. Now on 30/08/2013, the builder sent a registered letter demanding additional sum of Rs.8, 51, 000/- to pay within 3 weeks from the date of receipt of the letter by me or surrender the flat.

The flat was originally sold to a few customers for Rs.14 Lakhs base price whereas I have paid a base price of Rs.23 Lakhs. The builder cites reason for additional payment to him due to increase in the construction cost in which the current base price works out Rs.22.51 Lakhs and hence is demanding Rs.8.51 lacs extra.

As far as my case is concerned, my base price at the booking of my flat itself was Rs.23 lakhs which is more than the current base price advised by the builder. Secondly, our Agreement to Sell executed between the builder and myself does not mention anything on the ‘escalation’ cost. The builder is bullying their customers and resorting to arm-twisting whereby he say that if the money is not paid within a specified period, he will cancel allotment and resell the apartment to someone else.

The builder indicated in their letter to me that after selling the apartment to another party, then he will refund the money paid by me with a simple interest of 9% per annum without any additional cost & expenses incurred by me.

I wish to bring before the State Consumer Forum that the Builder is unreasonable in demanding extra money from me since his cost of construction equivalent 856 Sq. Ft today is less than the cost worked out by him. Again, in the absence of any cost-escalation clause in the agreement, it is unfair on their part to demand additional sum from me. The threat of cancellation of apartment for failing to settle the additional sum is considered as ‘ARM TWISTING’ method adopted by the builder.

Again, paying interest at a rate proposed by them and settlement only after he sells apartment to another person etc.without paying any additional cost and expenses goes against any morality and uprightness as I have paid my hard-earned money promptly as and when demanded by the builder. There is a serious allegation in the market that the builder had diverted funds to two other upcoming projects neglecting their maiden project for the sake of more profit.

We have filed more than 200+ cases.

Check these cases below:

The truth is very much available in the public domain. All you have to do is:

Go to https://kscdrc.kar.nic.in/

> >   Case Status  > > Query on Party name  > > Select the Case Type as  COMPLAINT > >   Fill the respondent name as SOVEREIGN and then see it yourself.

Case Number Type of Part :

Case#

CC/1877/2013

CC/1878/2013

CC/1879/2013

CC/1880/2013

CC/1881/2013

CC/1882/2013

CC/1883/2013

CC/1884/2013

CC/1885/2013

CC/1895/2013

CC/1860/2013

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