Mantri group is a big fraud! I booked my 2bhk flat in K tower parcel 2a in April 2017 and was assured the flat would be ready by Dec 2019 also mentioned in agreement. Then 2019 passed no one informed any updates. There is no response to any email or phone calls ever. We decided to directly visit their office. There they say K tower along with another 2 towers L & M construction is completely halted (just upto to ground floor they finished skeletal structure) due to lack of funds!
Requested us to shift to other tower units which are more likely to finish or wait indefinitely. We had no choice but to shift to a bigger flat as those towers only had bigger units. Even though we had budget constraints we had to force ourselves to shift as we didn't want the entire money invested to go wasted. We also did see from far that F, G,H, J towers had atleast the skeletal structure higher by a few floors.
So we shifted to F tower paying extra money whose possession date was March 2021 on agreement and they assured by Dec 2020 itself it will be ready.
Around 2021 Mrs. Snehal Mantri had conducted online meeting to reassure existing buyers of their flats and for 3 months we used to monthly updates of our flats progress with pics which gave us some positive feeling that yes someday we will get our flat. You can see some pics on their website as well, but nothing after Dec 2021. Now it is Aug 2022, still no response over emails or calls.
If we visit the site office (which is mostly deserted) CRM keeps changing every few months and claim I don't know what previous CRM assured but I am assuring this now. Looking at the structure it looks easily another 1 year to finish if they start working on it. But the worst part is hardly any labors are at the project.
They somehow finished U, V, W, X towers I believe which are even bigger flats of 1600+sqft after 8 years of project launch and now using it to fool more people to buy units in other towers.
Parcel 1 took 6-8 years to complete instead of 4 years assured. Atleast they got their flat. But none of the amenities that are assured in the brochure seems to exist in the project then what's the point of owning flat in such place paying so much more?
Now reading news of ED arrest, Mantri trying to flee our country, etc I feel our money is doomed fully. The biggest issue with Mantri Webcity I feel they gave too many too good to be true offers initially such buyback offers, only 20 % payment until possession, pre-emi, etc grabbed a lot of innocent people then faced severe cash crunch and hence virtually quit the project. Same seems to be the story with Mantri Energia and Lithos etc.
The whole group has fallen not just this Webcity project. It's very unfortunate and heart breaking to see more than 1000+ people and their families waiting like me for their flat for ages paying bank EMI & rent (in some other flat to stay) same time for years loosing their mental peace and financial goals. RERA certificates also are useless. They mean nothing in this project.
We invested in the project as The location, concept, price point (even though slightly higher than neighbouring project) is reasonable considering the amenities and the brand that stood for quality, reliability, luxury & long history in real estate in Bangalore. But they are none of it now. Even if they complete some day I will always be worried about the quality of construction and how many corners they would cut to finish the project somehow.
Many of us are fighting legally but don't know how many more years it is going to take. God save us all.
- Thank You! We appreciate your effort.
