Ekta Builder: Broken Promises & Bhai-giri
Mumbai, 24
October, 2016: Ekta
Group
of builders cheats and bullies its customers – no two ways about
it. Don't be fooled by clever PR
campaigns,
paid media, beautiful
website,
and estate agents. Don't get taken in by endorsements of reputed corporates like HDFC
Realty,
HDFC
Red,
or mentions in Magic
Bricks Now. Don't get fooled by Anil
Kapoor's endorsement and
MCHI-Credai
Awards for Customer Responsiveness. That's all smokescreen. The ground-reality is that
Ekta Group, also known as Ekta World, is shamelessly unreliable.
Booking a flat in an Ekta project means giving lakhs of rupees with
no safeguards and no legal entitlements. Even when the flat-agreement
is registered, it is an unfair,
one-sided agreement that make you lose all your rights as a flat
purchaser. Ekta builder's overall strategy is to make the buyer helpless. As they say in market language, "Builder
ko haath kaatke de dene jaisa hai" -- like
cutting off your hands and giving them to the builder!
Why are we making such harsh statements against a reputed
builder? If you don't like long explanations, just read (1) brochure
of Ekta Parksville
and (2) flat-purchase
agreement for Ekta Parksville. The
brochure is full of rosy promises, whereas the sale agreement tells
you that you have no rights and no legal
entitlements at all. Builder
ka
sab kuch, buyer
ka
kuch nahin!
The agreement is nothing but bhai-giri
made out in legal language. Investors
who have got the point can stop reading and go look for other places
to put their hard earned money. Others, who want explanations, can continue reading about the actual experience of a
customer.
{Click to read the rebuttal to this press release by Ekta World CMD Ashok Mohanani OR continue reading the story of a flat-buyer below.}
{Click to read the rebuttal to this press release by Ekta World CMD Ashok Mohanani OR continue reading the story of a flat-buyer below.}
The
story of a flat-buyer:
- Five years ago, Vineet Malik of Gurgaon applied for a flat in Ekta Parksville project in Virar, at a price of Rs 26 lakhs. The first demand for payment by Ekta Parksville Homes Pvt. Ltd. came in November 2011. This amount was promptly paid. The verbal commitment given to him was that the flat would be delivered by December 2013 i.e. two years later.
- Four years later, in November 2015, the last demand note was sent by Ekta Parksville Homes Pvt. Ltd. Although 95% of the total consideration had already been paid, the flat-purchase agreement was not yet signed. The buyer was at the builder's mercy; the builder could break the deal even now.
- In March 2016, although the buyer had paid 97% of the total consideration, Ekta continued to refer to the deal as "provisional booking". See this indemnity bond given by the buyer.
- In May 2016, finally, the Flat Purchase Agreement was registered. (MOFA requires registered agreement at the time of receiving 20% of the total consideration, but these builders are laws unto themselves!) The agreement was full of discriminatory clauses making the buyer renounce all his legal rights. In a nutshell, the agreement says that flat-owner is only the owner of the four walls of his house, and he has no say in the common amenities promised in the lavish brochure. (Even if the builder reduces any or all of the amenities, and exploits the FSI of the land and/or any common area of the building, the flat-owner must keep quiet! Is this the kind of agreement one expects from a reputed builder?)
- According to the recently signed agreement, the promised date for giving possession is December 2016. But, judging from the current construction status, this promise will be broken. The entire site is under-construction; there is no way it can be completed for giving possession within two months. Buyers will be lucky to get possession even on December 2017!
These
two pictures sum up the situation:
Ekta
Parksville – What was promised
Ekta
Parksville – What will be delivered in December 2016
In
our next article, we will look at the discriminatory
clauses in the flat-purchase Agreement which negate the lawful entitlements of the
flat-purchaser.
Meanwhile,
call us and share your own experiences regarding
Ekta's projects.
[Acknowledgment:
Thank you activist Sulaiman Bhimani for research and groundwork.]
ISSUED
IN PUBLIC INTEREST BY
Krishnaraj Rao
98215 88114
krish.kkphoto@gmail.com
Krishnaraj Rao
98215 88114
krish.kkphoto@gmail.com
Good Expose
ReplyDeleteGood Expose
ReplyDeleteThese fraudsters(I m not calling them builders ) are like parasites who r sucking hard earned money of people and there is no way public can fight them legally. Only way is to expose these fraudsters and make general public aware as not to invest in any of their projects.
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteMr. Rao,
ReplyDeleteI had booked a flat in Ekta Greenville Nasik project in 2011 and in 2012 got the agreement registered in which the date of possession was mentioned to be given by 30th April 2013 till date I haven't receive the possession yet.
They say they are a brand in market since years but they are so unprofessional that there has been no communication to the customers for delay.
I have put in around 18 lakhs till now and have been paying interest against it.
Mr. Vivek Mohanani who is one of the director in company has never been on his words has always committed wrong possession.
The delay is of more than 3 years from committed date as per the agreement made it says delay in possession could be due act of god, shortage of man power, material shortage etc. Such things are acceptable for a year but 3 years above can accept.
Have lost patience now need to take action against Ekta world .
Regards,
Shrikant Dhanraj Chowdhary
Dear Krishnaraj, Ashok Mohanani is friend of my father and I had personally met him before purchasing flat in Ekta Parksville. However due to high rates I had purchased it from investor, during the NOC Ekta World did not inform me about interest pending from investor and had given me NOC. Further during meeting with Ashok Mohanani he had ensured construction would be completed by July 2014 however agreement was made with date of December 2016 and I was told it is only for formality and ensured possession will be given by July 2014. Since then I m waiting for possession of my flat and bearing EMI of loan for delay by builder. What credibility does company have when it's own MD cheats on customer. What brand are they talking about when they can't deliver on time. I have put several mails to head of customer service Laxmi Jaiswal from Ekta but she is arrogant enough to never answer any mails. Their customer service department avoid any queries in regard to delay.
ReplyDeleteDear Hemant, To enable me and Sulaiman to take up your case, kindly email a copy of your Registered Agreement, Allotment Letter, Demand Notes, Correspondence with builder (if any), and all other important documents.
DeleteRegards,
Krish
I am fully aware that , aggrieved and dissatisfied customers of Ekta World Pvt Ltd had posted comments on its Co. Facebook by exposing this builder but after few weeks , this shrewd builder got the Review option altogether removed. Conduct of Promoters of Ekta World Pvt Ltd is dubious. They are liars of first order and are Cheating it's customers by incorporating abusive , exploitative , unfair , unilateral , draconian one sided clauses in its Builder Buyer Agreement. Such deceitful builder should be taken to task so that it doesn't dare to commit such illegal acts.
ReplyDeleteHi Coolkn :-)
DeleteIf you are in contact with those dissatisfied buyers, please ask them to post their comments here, with details of their grievances. Alternatively, they may email to krish.kkphoto@gmail.com.
Regards,
krish
This comment has been removed by a blog administrator.
ReplyDeleteThis builder is cheater
ReplyDeleteThis comment has been removed by a blog administrator.
ReplyDeleteI have gone through the agreement. It is blatantly abused , exploitative , unfair and one sided. Ekta World is deceiving people by misleading people through their advertising campaigns , awards etc to solicit and allure people to buy flag in their projects but the truth is this Co. is fraud and doesn't have fear of law of the land. Licence of this builder should be canceled. People should be made aware so that no one is trapped by this builder by investing hard earned money. Mr Mohanani should be ashamed of himself that they are going to an extent of getting indemnity bond signed from its customers with ulterior motive and nefarious designs. I have also noticed that this Co. has violated MOFA ACT and other statutory provisions the law , bypassed and contravened Notifications issued in public interest buy Maharashtra Govt.
ReplyDeleteThis builder should be shunned and boycotted.
They should be boycotted. Now a days it's very difficult to trust anyone. Ekta people are big time torture too, Dnt leave them, take some major action against them.
ReplyDeleteThis is shocking to see how such builders are allowed to work Scot free and fleece innocent buyers with their hard earned money. Govt should take such builders to task immediately.
ReplyDeleteIt appears that promoters of Ekta World are law unto themselves. They are befooling the buyers big time.
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteThis builder has no shame. Despite committing such illegal and brazen acts, this builder has made an attempt to repeatedly mislead people with nefarious designs and ulterior motive.
ReplyDeleteSuch a builder should be taken to task forthwith and people should spread a word in the Society about the conduct of this builder.
Thanks to the blogger. Was searching for property outskirts of Mumbai. Found Ekta projects .. thought to have a quick search on google and found this blog. Saved money before spending time to visit their property. Good exposure of this builder. Thanks for the help.
ReplyDeleteDefamation case against a Home Buyer? (A flat seeker, who booked a flat in a housing complex Ekta Parksville in Virar West,) https://citizensjusticeforum.blogspot.com/2017/03/defamation-case-against-home-buyer-flat.html
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This comment has been removed by the author.
ReplyDelete