MANOJa

BPTP COMPLAINTS

MANOJa

BPTP refund for Sec 66 & 37 cheating (none / 0) (#1)
by Unregistered Visitors on Sun Aug 02, 2009 at 12:47:15 AM EST
A very good story. BPTP is another names that tops the list in terms home cheating with public money.
A group of investors who are now stuck with a misleading project of sec 66 and 37 have come tohether to get their hard earned money back. Here's an up

BPTP Sec 66 Cheating - case stronger at Economic Offence Wing

Dear Fellow Investors of BPTP Sec 66 Park Prime,Gurgaon.

Yesterday a group of investors met a senior official at Delhi Police Economic Offence Wing. Though it was a reinforce meeting after filing the applications last week to Deputy Commissioner of Police, the interaction did yield more positive response than expected. Here's a summary of the meeting.

> The official took serious notice of the fact that residential booking was taken showing a commercial plot, which straight amounts to fraud.

> The official recognised that fact that the change of area of flats (2 times in 3-bedroom unit and 3 times in 2 bedroom units) violates the agreement of sale which will go heavily against the BPTP.

> One member also updated the land at Park Prime is owned by 3 parties and not BPTP. They have an agreement that 35% flats will be given to them in lieu of land. But as you know even after one and half year there's is absolutely no resale value of the project, it's a doomed project already as in better location in Sohna Road you get a 3-bedroom at almost half the price.

> Another senior member informed that BPTP assumes that the project will take at least 5 years (2014 or later to complete, if at all).

> WE HAVE ALSO IN TOUCH WITH A VERY SENIOR OFFICIAL WHO HAS RECENTLY LEFT THE COMPANY (BPTP). HE ADVISED THAT FINANCIAL CONDITION AND INTENTION OF THE COMPANY ARE FAR FROM ABLE TO COMPLETE ANY PROJECT AND THE EARLIEST EXIT IS THE ONLY WAY TO SAVE GUARD YOUR INTEREST.

> The number of complaints and applications against BPTP for cheating, misleading and fraud has been on a steady increase over few months.

> Along with BPTP Sec 66 project, BPTP Sec 37 project has also received a number of complaint applications for cheating, misleading and fraud.

> The EOW Official has himself inspected the area and details are sought to initiate punitive legal action.

> Last but not the list, the official shared a case of another builder who was arrested in 2008, July for similar fraud with public and serving his long sentence.

As new members are joining in, the case is getting stronger, with regular follow ups.

You can empower yourself by
> bringing more members together,
> sharing any communication with dealer/BPTP to get your hard earned money back.
> communicating in one voice as a group against as an indivisual


Keep visiting the site for for updates.

MANOJa

rohit_warren

May be you have not seen the ground reality
here is to start with

BPTP

Everyone got stuck in the euphoria of 2007 - The greed has no reason - and every builder faced the music of melt down - Unitech, DLF, Ansals you name it and they suffered.

I am no advocate of BPTP however till date my investments with them have grown by leaps and bonds - Its matter of timing buddy. May be by the sheer luck or grace of god I got it right "always"

Rohit

MANOJa

I am not here to judge the ground realities, maybe u know them better . I am just putting the complaints under one thread . It is for the investors/end users to judge that .

MANOJa

BPTP reputation


By Mohit Gupta, Section Ask Questions
Posted on Thu Jan 05, 2006 at 03:21:45 AM EST

Can anyone tell me how is BPTP's reputation ? I heard that they are planning a site in Faridabad. Don't know whether that is approved or not, Can anyone throw some light on it ?



BPTP reputation | 13 comments (13 topical, 0 hidden)
BPTP making everyone a fool !!! (none / 0) (#13)
by Unregistered Visitors on Mon Aug 20, 2007 at 01:22:16 PM EST
BPTP, has made a fool of its investors.
The company owner Mr. Kabul Chawla has made a big empire for himself by using the money of his investors. Mr. K. Chawla has used the money of his investors from 1 project to another. Booking amount of 1 project for buying the land for the 2nd project, then initial money of 2nd for 3rd.

Last year in march 2006, the commercial plots in the BPTP township at sec-75 to 89 were offered for sale at an booking amt of Rs.15 lacs. After 4 months there was no buyer for these plots in the market & the resale was at a discount of Rs. 3 lacs. The company investors lost they confidence due to BPTP's unfair business practise. Therefore investors who were unhappy with this commercial plot investment asked for booking amount refunds .. they were refunded money after 4-6 months in various cases after filling of formal refund request. BPTP has charged every investor for late payment interest charges, but when it came to paying the interest charges itself for delayed refunds ... MR. KABUL CHAWLA takes his family for holiday to Malaysia, London, etc. very rude & unjust businessman.

Even investors are unhappy with the company selling them residential plots in Phase-3 of its colony at Rs.11000 per sq yd, whereas the current rate in the same area was Rs.8500+ in the same belt. Almost 80% of the phase-3 investors have filled for refund of the same.

Also, the investors in the flats/apartments are very angry too. Sizes were increased for no reason. No time given to reply for acknowledgement to have the investors view on the situation. The investor of the flat/apartment is a very small investor, but sorry to say that these investors are bleeding ... don't have that extra money, NO BANK READY TO FINANCE to BPTP project at Faridabad.

All this mess is due to the no-clearance of LAND TITLES.
ADVERTISEMENTS/BANNERS all around the city say that 1500 acres BPTP, but truth is hidden from all its investors, brokers, staff, etc.

Kabul Chawla, now plans to come out with a public issue to help fund his projects. If the IPO fails, dear investors ... RUN FOR COVER, as there is no coming back of the invested money in his company.

Its all a game of collecting money & fooling the innocent investors.

The Haryana govt. should immediately take over the operations of the company to safe guard the interest of the public/investors invested in BPTP.

~~~~ A person who wants to save the hard earned money of thousands of investors in BPTP.

MANOJa

BPTP Complaints - Fraud Irregularity
View all BPTP complaints
BPTP
Posted: 2010-01-25 by Gaurav Bhayana Send email
Fraud Irregularity
Hi

I had booked a flat in pre registration booking for Park Elite Premium of BPTP builders last year (August '09) and paid a booking amount of Rs 2,00,000 after this a second demand was raised for 2,24,000 which was paid in time through cheque.
This january I was told that i have not been allotted a flat in their so called "draw" verbally by their office staff since then I am writing to them and visiting their office but no clarity is being provided on fate of my booking.
Its shocking to see the rudeness of their staff who continue to give confusing statements and even threatning that if i apply for a withdrawal they will deduct brokerage and other charges from money paid by me.
I just would request you to please advise what options do i have against such a fraudulent builder and in case they return my money am i eligible for any interest.

Advising all to stay away from BPTP.

Regards

Gaurav Bhayana

MANOJa

Press Trust of India / New Delhi April 27, 2010, 19:13 IST


The government today said market regulator Sebi is considering the draft offer document of realty firm BPTP against which the watchdog has received complaints of non-disclosures regarding delay in allotment of flats and certain other litigations.

"The draft offer document of BPTP Ltd is under consideration in Sebi," Minister of State for Finance Namo Narain Meena informed the Rajya Sabha.

When asked whether BPTP is delaying the Faridabad project and has duped investors by not disclosing the details of land ownership, Meena said, "Sebi has received complaints with respect to draft offer document of BPTP relating to delay in allotment of flats and non-disclosure of certain litigations."
In December last year, BPTP filed draft prospectus with market regulator Sebi to raise Rs 1,500 crore through its maiden public issue.

The company has appointed JP Morgan and IDFC-SSKI as lead book running manager for the IPO.

On steps that the government has taken to ensure that investors are not cheated in the IPO, Meena said, "The Merchant Bankers has been advised by SEBI to make necessary disclosures in the offer document. The complaints received by Sebi were forwarded to the merchant bankers to the issue advising them to reply to the complainants."

BPTP has a land bank of about 2,000 acres, mainly in the National Capital Region. The company was involved in the country's largest land deal of Rs 5,006 crore in Noida, but had to surrender partly as it was unable to arrange funds by the stipulated date.

MANOJa

Bptp is a fraud company

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03-06-2011 11:38 AM #1 G L LAKHIWAL
Junior Member

Join Date
Jan 2011
Posts
3
Bptp is a fraud company
Dear Sir,
This is to inform you that i applied for a 300 sq yds floor in BPTP Park Elite Floors project. The booking amount paid Rs.3.00 lacs on 23.05.2009 Receipt no.2009/1400002890 and Ist installment paid Rs.339001.05 on 12.08.2009 Receipt no.2009/1400014724 and 2nd installment raised through demand number 0090227967/0090230065 for Rs.288400/- and paid by on 10.10.2009 receipt no.2009/1400024839 On 31st Dec 2009 i received letter non allotment of floor and your name in 2nd phase of draw list and it will be advice you shortly but know almost more than 1 1/2 years gone but till date i have not received my allotment. My whole life money invested in the project and waiting for allotment letter. This company always giving false information to investors.

Please help me.

G L LAKHIWAL
0-------55-4
CONSUMER CODE BE/42/122487
la----al25===fmail.com

rohit_warren

2007 ke complaints - I have no clue what you wish to accomplish by posting the complaints which were made 4 years back ?????

for elite premium that too is about a year old complaint - the latest development is here

BPTP

A picture speaks a thousand words

Moreover here is the latest development of that area by google maps

Wikimapia - Let's describe the whole world!


The satellite imagery is of jan 2011

Rohit