Ittina Mahaveer review, frauds, Electronic City

Review On Ittina Builder

Ittina Mahaveer Apartment review, Electronic City - August 2016

Recently, I visited Ittina Mahaveer Apartments thinking it would be a good place to buy since location would be easy to commute to my workplace in Electronic City.

After visiting some flats, I was in the process of finalizing a 1 BHK(approx. 550 sq ft) for 16 Lacs. It looked like great offer as it was coming to Rs 2900 per sq ft.

TAKE YOUR TIME AND READ COMPLETELY…

While doing the legal verification, it turned out as follows:

The flat is mortgaged to a lender(eg LIC by the buyer). The flat would also be rented out to some tenants. The real owner is not available as he is in the USA/Delhi/Canada/Australia/elsewhere. The person who would be selling the property has either posted the advertisement online or got some brokers to post the advertisement of sale of the flat. The person who is supposedly selling the flat claims to be the father/relative of the actual owner. The person would also be a reputed businessman(yes businessman. Correct businessman means business by hook or crook).

Plan 1) He will ask you for advance 10K to 1 lac cash as a token money and will provide you zerox copies of the sale deed in a time period of 1 month. In any case the original sale deed would be with the home loan lender. You will try to get a loan for yourself but will not succeed as no major banks are giving home loans for this project.

Also if you get the home loan from LIC(who seems to be the only lender with a higher interest rate for this property as it does not have clear title/ court cases going on), the fraud seller will try clearing the loan of the original seller and selling the property to you. This is not a valid sale. LIC will not cross check that the fraudulent person who is paying back the sum is NOT the original seller. Eventually you would be stuck with a property which is NOT yours. The tenants would not know as they would be transferring rent the so called new buyer as they are least concerned what is the true title of the property etc.

Plan 2) In case your lawyer is good and detects the fraud, then you will need to back off out of the deal. If the agreement does not have the appropriate clauses, the fraudulent seller will return NOTHING back. Even then you would have your peace of mind as only a small amount(token money) would be lost.

Plan 3) The fraudulent sellers are some persons who once upon a time had purchased property from the builder but after lots of hardship and running around lost their cool and realized that they can do nothing against mighty builders. Since they were cheated “once upon a time”, they have resorted to cheating others who are unsuspecting buyers.

Mostly the so called fraudulent sellers would hold a “POWER OF ATTORNEY”(obviously a fake one) of the original buyer.

The fraudulent seller would also be one who was taking care of the flat/apartment while the original buyer is abroad, etc.

FINAL ADVISE/RESULT:

Although you take your OWN DECISION, my personal advice is DO NOT BUY ANY FLAT/APARTMENT in ITTINA MAHAVEER. Yes, I lost some money, but it is very difficult to detect this type of fraud, especially with most lawyers who are least bothered about doing a deep check/verification.

My personal advice is:

1. Leave this Ittina Mahaveer apartment alone however much good it might look or feel – DO NOT BUY here.

   
   




2. It is OK to take on rent in ITTINA MAHAVEER

   
   




3. Occupancy Certificate is not being issued(has not been issued for last 11+ years) by the Govt. authorities for this project. Not sure if they might plan demolition someday.

   
   




4. Completion of construction is not complete(J block is still pending) which has got target date of 2017(nobody knows Jan or Dec), when J block is pending for last 8 years.

   
   




5. Several cases are pending against the builder, unsuspecting buyers have purchased and now trying to sell. DO NOT BUY… don’t say you were not warned.

   
   




6. Building structure is very weak. And to hide the problems, the residents have done repairs and painting / renovation of the complete building with the hope of selling off.

   
   




7. Leakages are too much in all flats due to poor quality construction.

   
   




8. The construction quality is SO BAD that even tubelights have fallen down along with the frame and socket…. AND CANNOT BE FITTED BACK due to poor cement quality.

   
   




9. The lifts are of pathetic quality, extremely slow and frequent breakdowns(definitely 1 time per 2 weeks) and it will remain UNREPAIRED for 15 days.

   
   




10. Some people say that the place is haunted as many workers who worked there since long were not paid salary and finally fell sick etc and went off there itself. Construction was stopped several years.

    
    




11. Have a look at all flats in the apartment, you will see many abandoned flats in most blocks G, H, I, J, etc.

    
    




12. 4 feet floods in the parking lot every year during rains. which destroys the car engine(2-3 lacs). So what is the use of buying here? Better to put some more money and buy a better house. It is once in a lifetime decision, so don’t make the wrong decision.

    
    

If the above has not convinced you about getting trapped. You should consider it your OWN FAULT in the years to come.

The builder cannot sell the apartments as the rights to sell on behalf of LALITHA DEVELOPERS HAS EXPIRED. All sales done in the last 5 years approx. are illegal.

Some have created PG(paying guest) inside their flats as well especially for ladies. Very bad for family stay…  mostly this apartment preferred by “Escorts”!

BUILDING is SO WEAK that it can FALL DOWN any time. If you  are really looking for cheap, then “Ittina Neela” is available in Phase 2, Electronic City at half the rates(2BHK for Rs 11-12 lacs as on date – Aug 2016) Link:

https://commonfloor.com/ittina-neela-bangalore-for-sale/pfbs-xyitcc

Still cheaper is  “Ittina Deva, Attibele, Bangalore” – 1 BHK for Rs 6 lacs but don’t expect much from Ittina construction anyway.

This is just a review, I have done my part in warning you about the problems, you have to take your own decision!

“AVOID PURCHASE in ITTINA MAHAVEER APARTMENTS

It is the first time in history real estate has fallen 5 – 10% in 2016 in India(Delhi/Mumbai/Bangalore). In Australia and Canada, real estate has fallen much more

PHOTOGRAPHS OF BUYER AND SELLER ARE MANDATORY AT THE TIME OF REGISTRATION AT THE SUB-REGISTRARS OFFICE.

Just google search “Ittina Mahavir review” and “Ittina Mahavir complaints”. Kindly comment on any findings and share information to help un-suspecting buyers.

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