If something sounds too good to be true it usually is... - Indian Real Estate Forum

AnkurPune · 23-01-12

On the lines of a great thread started by Manoja, (Worst investment decision till date), I am creating a thread in which we can alert each other about fraudulent deals / offers related to real estate which sound tempting but will make you suffer in the end.

AnkurPune · 23-01-12

To begin with, I was looking for good deals around the tri city and was exploring the Kansal area behind the lake. I came upon an advert for a 605 sq yard plot for 1.2 crores. (You will get this link if you select city as Chandigarh and search for Gill estate or Kansal in sites like 99 acres or magic bricks). It sounded really great as I cannot even find a 10 marla plot in tri city for this price and it was just next to Lake, i.e. even closer than Mohali. I was thinking of visiting that place, but then I stumbled upon the following link containing Unauthorized colonies in Punjab and guess what Gill estate

http://puda.nic.in/img/unauthorisecolony_files/uac.pdf

And guess what Gill Estate Kansal (Entry no 249) is listed as an unauthorized colony there.

AnkurPune · 23-01-12

And guess who is there at 389? You would see adverts every weekend in newspapers for these guys and guess what..... It is unauthorized as well. And I was wondering for a long time how these plots are so cheap?

ATLGUY · 23-01-12

Ankur - Very well found and thanks for alerting fellow members ! I don't see why we should not list their names -

Sky Rock City Welfare Society, SCO No.26 First Floor, Phase-2, Mohali.

Swaran · 23-01-12

The growth of such threads makes my conviction even stronger that real estate market is now very very dicey

gurdial · 23-01-12

Quote:

Originally Posted by AnkurPune

And guess who is there at 389? You would see adverts every weekend in newspapers for these guys and guess what..... It is unauthorized as well. And I was wondering for a long time how these plots are so cheap?

Good find Ankur, saved many gullible investors from being cheated in Sky Rock Mullanpur society too.

AnkurPune · 23-01-12

Quote:

Originally Posted by gurdial

Good find Ankur, saved many gullible investors from being cheated in Sky Rock Mullanpur society too.

Unfortunately few of my friends booked just a few days back before I discovered this

Rickyy · 24-01-12

Hi AnkurPune,

Sorry to know that.

Couple of days back I had seen SkyRock city listed under "Unauthorised colonies" link but somehow forgot to share it w/ forum.

SkyRock seems to be fraud, check below links to confirm the same.

skyrockcity.com ( Account Suspended )
http://mohaliprojects.com/index.php/...ck-city-mohali

Thanks,
Ricky

Quote:

Originally Posted by AnkurPune

Unfortunately few of my friends booked just a few days back before I discovered this

abhijit2410 · 24-01-12

Thanks a lot. This saved my father for making a blunder
.

AnkurPune · 24-01-12

Quote:

Originally Posted by abhijit2410

Thanks a lot. This saved my father for making a blunder
.

Great. However I think a lot of people are still making bookings in these schemes. I feel bad for those especially the ones who are actually booking it for their own use and using their lifetime savings.

Any other schemes which anyone knows / suspects to be fraudulent?

23-01-12	#1
AnkurPune Member Join Date: Jul 2010 Posts: 302 Thanks: 18 Thanked 31 Times in 21 Posts	If something sounds too good to be true it usually is... On the lines of a great thread started by Manoja, (Worst investment decision till date), I am creating a thread in which we can alert each other about fraudulent deals / offers related to real estate which sound tempting but will make you suffer in the end.

23-01-12	#2
AnkurPune Member Join Date: Jul 2010 Posts: 302 Thanks: 18 Thanked 31 Times in 21 Posts	To begin with, I was looking for good deals around the tri city and was exploring the Kansal area behind the lake. I came upon an advert for a 605 sq yard plot for 1.2 crores. (You will get this link if you select city as Chandigarh and search for Gill estate or Kansal in sites like 99 acres or magic bricks). It sounded really great as I cannot even find a 10 marla plot in tri city for this price and it was just next to Lake, i.e. even closer than Mohali. I was thinking of visiting that place, but then I stumbled upon the following link containing Unauthorized colonies in Punjab and guess what Gill estate http://puda.nic.in/img/unauthorisecolony_files/uac.pdf And guess what Gill Estate Kansal (Entry no 249) is listed as an unauthorized colony there. Last edited by AnkurPune; 02-02-12 at 09:19 AM.

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23-01-12	#4
ATLGUY Member Join Date: Mar 2011 Posts: 143 Thanks: 12 Thanked 9 Times in 9 Posts	Ankur - Very well found and thanks for alerting fellow members ! I don't see why we should not list their names - Sky Rock City Welfare Society, SCO No.26 First Floor, Phase-2, Mohali.

23-01-12	#5
Swaran BANNED Join Date: Jan 2012 Posts: 49 Thanks: 3 Thanked 10 Times in 8 Posts	The growth of such threads makes my conviction even stronger that real estate market is now very very dicey

24-01-12	#9
abhijit2410 New Member Join Date: Dec 2011 Posts: 15 My Mood: Thanks: 1 Thanked 1 Time in 1 Post	Thanks a lot. This saved my father for making a blunder .