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Incredible India Projects Private Limited : Issues

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Incredible India Projects Private Limited : Issues

Last updated: February 21 2019
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  • Incredible India Projects Private Limited : Issues

    Sir, I have made investment on purchase of 300 sq yrds plot in venture * 4000 per Sq yrd, on installment basis * 20000 per month I have paid 20 installments, and due to financial problems I was not able to pay balance amount, now when I am ready to clear the balance amount the company asking me to pay the amount * 8000 per sq yrd. Or they will return back the paid amount. Kindly guide me to take Right decision as the present rate of the plot is increasing day by day in Hyderabad, Telangana



    Last edited February 21 2019, 08:19 AM.
  • #2

    #2

    Re : Incredible India Projects Private Limited : Issues

    What is the name of the Project/Builder?
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    • GLRD123
      GLRD123 commented
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      Incredible India project
  • #3

    #3

    Re : Incredible India Projects Private Limited : Issues

    Can anyone please help me out

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    • #4

      #4

      Re : Incredible India Projects Private Limited : Issues

      Originally posted by GLRD123 View Post
      Sir, I have made investment on purchase of 300 sq yrds plot in venture * 4000 per Sq yrd, on installment basis * 20000 per month I have paid 20 installments, and due to financial problems I was not able to pay balance amount, now when I am ready to clear the balance amount the company asking me to pay the amount * 8000 per sq yrd. Or they will return back the paid amount. Kindly guide me to take Right decision as the present rate of the plot is increasing day by day in Hyderabad, Telangana


      Did you sign an agreement with the Builder ? Does it specify the price of the land & what does it say on delayed payments ? Builders normally charge interest on delayed payments, so the Builder asking double the land rate of agreed price seems fleecing .
      Please read IREF rules | FAQ's

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      • GLRD123
        GLRD123 commented
        Editing a comment
        As per the brochure they have given me the passbooks, and Application form, so every month i was paying the amount for 20 months, later default I haven't gone through any agreement

      • MANOJa
        MANOJa commented
        Editing a comment
        Without knowing exactly on contents/terms & conditions specified in the application form, it is next to impossible to give advise. Anyways, the whole system of issuing a passbook and no agreement looks illegal .Take all the documents u have to a Lawyer and seek his legal opinion .
        Last edited February 22 2019, 10:28 AM.
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