I felt strongly enough to put up this Warning for all NRI & others to warn them of the Unethical, intimidating and bullying tactics of Lodha builders. Do not get swayed by ads with Aishwarya Rai & other celebrities, as you can pay anyone nowadays to endorse your product.
I had invested in their big highly publicized project The Park in Mumbai and at the time of booking we were given a progressive payment schedule, but it didn't take Lodha long to throw that out of the window and start sending out demands for payments that are not even due currently. Their only goal is to pull as many payments as possible without worrying about delivering the finished product on time. Here is an example of their greed and how they will make a sucker out of you:
? External Façade/Windows:Originally due after initiation of RCC work for Level 70(floors) & initiation of Partition Walls.
? New Tentative Date per their Demand Letter: March 22, 2016
? In spite of repeated calls & emails: Payment withdrawn from MyGain Account on Feb.8, 2016.
? Discussed at length with the management at Lodha, no one had a feasible answer, just plain BS and lies.
? Amazes & baffles me something that is due after initiation of Floor 70, how can they just pull out of your MyGain account(Another BIG SCAM!) at the start of Floor 18.
? After multiple calls, they feed me crap like the picture below to withdraw almost INR 25 lacs just like that.
Take Away from My Experience:
? I am not going to say “Do Not Invest with this unethical builder” because I know you will still do it, till you learn it the hard way.
? I was so excited about this project and spoke to several close friends in the U.S. who were keen to invest in a good housing project in India, but each one “Wanted to Have Nothing to Do with any Builder in India.” But Extremely Disappointed with a company like Lodha being no different from the “mom & pop” builders in Mumbai.
? If you have money rotting under the mattress or in your foreign bank accounts, GO FOR IT.
? MyGain Account is pure BS to pull your hard earned money to give these guys free access to pull your funds into theirs at their will, with no feasible explanation.
? I would like other NRIs to learn from my pain and not sign up for this extreme heartache and a bitter pill you just don’t want to get enticed into.
? If they invested some of the money in training their staff in the International code of conduct in business, it would give far greater returns to the company in the long run.
? I will round off by saying “You can only fool some people some of the time and arrogance has resulted in the downfall of too many.”
? Cheers to a sad experience?
- Thank You! We appreciate your effort.
