Dear All the VGN Flat Buyers

I AM REQUESTING THE READER OF THIS COMMETS TO FORWARD THIS MESAGE TO Mr. Pratish Devadas MD Of VGN And Mr. Devadas-Chariman of VGN. (Since i don't have their contact Mail ID)

The VGN Managing Director Mr. Pratish is very young. He is not having enough experience in the construction field. Hence the person who is working for long time in the VGN is looting the money in way of getting commission from their material suppliers/ Contractors.


The commission share is going to lower level to senior lever.


3 days before I went to VGN Wallace garden office to enquire about the flats to buy for me. I was informed to wait in the glass cabin in the first floor.


That time in the adjacent cabin 2 persons are speaking. I was able to listen what they are speaking.


One person balled Head(seems to be senior level) he is informing with another two persons that, “our MD is concentrating with SAP tool implementation. As long as his attention is in SAP, we need to earn more money by the way of appointing the know vendors for the high value works so that, the commission can be confirmed. And he wants the all present contractors/ supplier details and he wants to meet the all persons somewhere outside of the VGN office to fix the commission amount.


THAT MEANS, WHEN THE MD CONCENTRATION IS SOME WHERE, HE NEEDS TO EARN MONEY BY WAY OF CORRUPTION.


And he is informing that, minimum 25% to 30% of the project contract value needs to be earned as a commission.


Also they discussed that, in the Numgampakkam area the VGN is going to start one project. In that project he needs to earn as much as money by engaging the known contractors.


Also he is taking with them that, there is talk about the another VGN office is going to merge with Wallace garden office, if that is going to happen we cannot earn single money as a commission.


That time there was a phone call to him. Then he left the cabin. I went behind him and checked with security is standing outside the door about his name. Then the security informed that his name is MR. Haree. And he is a VP of the VGN Company.


During their discussion Mr. Haree confidently speaking that, The VGN MD is not a knowledgeable person, and if Mr. Haree tells anything, the MD will agree for that without analyzing. So he is telling that, whatever approval wants, that is his responsible to get from the MD.


After hearing this discussion dropped my idea to buy the flat at VGN because, all the commission money the Haree is going to earn. And all this overhead expense is going to sit on the buyers head only. Also if the suppliers/ vendors are going commission, then there will not be any quality work is going to happen.


I am requesting the person who is reading this, to convey this to VGN MD Mr. Pratish Devadas. Since I am not able to trace his e-mail ID.


Sri.
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  • Please note -

    Spamming - Posting the same thread in multiple forums, or posting the same post in multiple threads, or sending unsolicited private messages to members is not allowed.
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  • @ganesank471,

    Whether Haree earns money or whether Pratish earns the money, there is no difference for customers.
    What is important is do we, the endusers/inversors make the money or not.
    IREF board is for customers, please take your complaint to builder.
    This is builder's internal issue, there is no impact to customers whatsoever.

    Remember builder does not reduce the price below the market price just because he has honest employees.
    Builder sells the flat at fixed price, after document and uds registration it cannot be changed.
    Because of runway inflation every builder is facing problems, does not mean they are asking the customers for more money.
    Construction business also has losses, it is not profit always.
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  • Originally Posted by k11
    @ganesank471,

    This is builder's internal issue, there is no impact to customers whatsoever.



    IMO, information of this nature is of interest to customers. This shows incompetent management or corrupt subordinates or both, which all can potentially affect quality of construction and after-sales service. Hence, of interest to customers.

    But, unscrupulous complaints made out of ulterior motive needs to be weeded out. For example, anonymous complaints like this could be made by anybody, disgruntled competitor, buyer or even a peer/subordinate-VGN-employee of the accused individual.

    Though, I am not sure whether the complaint above has any ulterior motive or not.
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  • Originally Posted by bulletproof

    But, unscrupulous complaints made out of ulterior motive needs to be weeded out. For example, anonymous complaints like this could be made by anybody, disgruntled competitor, buyer or even a peer/subordinate-VGN-employee of the accused individual.

    Though, I am not sure whether the complaint above has any ulterior motive or not.


    Exactly agree. This is the ethical dilemma faced by on-line forums such as this one, which have a high credibility in general due to the participation of many experienced veteran real estate investors and experts and also presence of moderators. If this was a frivolous forum, this would not have been a concern at all (just see an example of pulling up just about any article on timesofindia.com and see the comments at the bottom to see what a free-for-all forum would end up looking like)

    So, personal attacks can result in lawsuits against the forum by the affected individuals. The forum may have resource in the rules and regulations members sign but at the end of the day, there is no one to pass on the burden of legal action to, since the users are anonymous. Wrongful commentary about an individual or corporate can result in loss of advertising revenue to the forum as well as the builder community developing an adversarial outlook towards the forum. Although, in reality, the forum probably helps many individuals make the right decisions, so has immense value to the real estate community.

    So, some forums (such as team-bhp for cars) have taken the approach of having new members with "read-only" access until they complete a well written essay about themselves and why they want to join the community. Even after approval, anything the new member writes will be moderated and will not appear automatically until he/she has completed 25 meaningful posts. Only after that, the new member is allowed to post directly. Most of the spammers agents doing indirect marketing through the forum can be filtered out this way. But of course, this reduces traffic on the site and requires a heavy dose of moderator time to run the forum this way.
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  • Moderators should just delete posts which violate law of defamation.
    Even some postings of entire articles in the forum can invite problems.
    Once we are cutting and pasting articles-ensure that the website copyright policy is read and understood,so that no adverse fallout takes place.
    Idea of this forum is to generate awareness aboutRE and in the process,ensure that due care is taken before posting any news,opinion on the forum.
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  • The news could be true also
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  • From what I know of VGN it a very professional outfit and I hope this issue if true is address ASAP.
    Since this thread was started to address kickback I am very much prevue to this type of instrument used by builder itself not my builder employee to inflate the cost of construction the board operation is buying material only on books and paying by cheque and the seller returning the money in cash after deducting commission anywhere between 2% to 5%
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  • Originally Posted by Septaa
    From what I know of VGN it a very professional outfit and I hope this issue if true is address ASAP.
    Since this thread was started to address kickback I am very much prevue to this type of instrument used by builder itself not my builder employee to inflate the cost of construction the board operation is buying material only on books and paying by cheque and the seller returning the money in cash after deducting commission anywhere between 2% to 5%


    Builder can do so to save tax. The small sub-contractor can claim cash payment to fictitious manual labours, in case there is any tax problem for him. :)
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  • Originally Posted by bulletproof
    Builder can do so to save tax. The small sub-contractor can claim cash payment to fictitious manual labours, in case there is any tax problem for him. :)


    Save tax right term would be evade tax and also builders need huge money to greases the relevant department and authority :bab (59):
    As an auditor I have few builders as my client If you look at any builders book forgot abt indirect cost like complement which r billed and never given the biggest bug bare is over billing of material to the tune of 300% plus if query them they say waste age was high and soon
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