Guys, this is a new thread for the buyers who have invested in Jaycee Homes' Bhagtani Riyo. You can discuss here if you have been facing any problems by the builder Jaycee Homes or with real estate agents who have been selling the project.
Welcome to share in and update each others knowledge.
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  • Is anyone getting any response from the builder's office.
    If not then we should take initiative and visit the office.
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  • Today i again called the sales office. They informed me that the work will start in sept or oct in this year. And they will inform all the buyers before a month before the work starts...but i still doubt!!!
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  • Hi all,

    I visited Jaycee office last week to get an update on the project. This is what they told me:

    1. About the delay: The land on which phase 1 is being built belongs to some mr. mhatre. certain portion of the land belonged to collector's office which was the major delaying factor. They said now the land has been transferred to mr. mhatre from collector's office (saw the land transfer papers). they said things will speed up now as major roadblock has been cleared.
    They said work will start by december.
    2. She also mentioned the fact that they have recieved IOD for their goregaon project ahead of time. They have also stopped any fresh bookings for phase 1 and will open the project by diwali rates of 6500psf.

    Im planning to wait till december and no more as i have been invested in this project since Jan 2013.
    What do you guys think should be done ?
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  • How many installments have you already paid Vineet Ji ? Advisable to sell of your unit at a decent profit and move on to another more reliable project.
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  • Guys, i believe state assembly elections are at hand.and.code of conduct will kick in.....
    Does anyone have idea, if bmc/MMRDA / SRA can issue new permissions and tenders till new assembly is formed?
    If not, then i don't see any builder getting any sort of permissions over next 5months....
    After all these heads govern the authority, if not directly then indirectly....
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  • @basheerji: i had booked with 50% dp for a 1bhk 600sqft unit. Thinking of selling off. If anyone interested, do contact.

    @akki: I think as an end consumer(working ppl like me) it's not possible for us to track each and every bill,amendments etc and then decide. Its the builders job to deal with all this. The government and laws are the same for all the builders. If they can't get approvals on time, they shudnt be in this business.
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  • It's high time guys, we must get together and fight this out. No point just waiting. There is no movement on this project and it's already been 2 years now we all have invested in this project.
    Let's make a group in Telegram or What's app, only then we can communicate more frequently and take some action against this builder.
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  • Go ahead and file a group case in consumer court against such Builders. Send them a notice to send 15% interest plus basic amount till date or face action from court. You guys can even argue in consumer court that they did not even apply for IOD yet, so their intentions are wrong. Bhagtani is sure to lose along with heavy penalty granted to investors not just 15 % interest. Fight for your rights guys, no use in being sleepy investors.
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  • We now have a group on What's App for all Phase 1 buyers...to join send sms to group admin Rakesh Varma on 9930312308. Let's first come together on this group then we can figure out way forward.
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  • Very good initiative Kums, no use just cribbing on the forum. Your group action will surely force this Builder Bhagatani to cough up money with interest. Do not settle for 6 month PDC's after all u guys did not pay PDC's to Bhagtani at time of booking. Jaago grahak jaago. Good luck :)
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  • Originally Posted by yogiwadhare
    Consumer court?? Its a joke .. Court will give an order in next 5 - 7 years, then there is an appeal, which can go upto national level which means 20 years.. Who has money or time for 20 years of fighting


    So SC and Consumer Court took 20 years to decide against DLF or Supertech ? Bhagatni is just a small company compared tho these 2, so wontn take consumer court even 2 years to punish these frauds. It is good to see Bhagtani brokers so active on this forum. Ask your builder to return people's money with interest and not PDC than focus on marketing property through IREF. I think turning people's money is a big problem for Bhagtani which is leading to creating fake id's. IOD not even applied for in 2.5 years ! Intention of builder is just to disappear with people'e hard earned money. Why do you keep giving fake commitments on every pre launch if intention is not to fool investors ?

    When brother Naren goes to your office for refund, you guys keep giving lame excuses that your bosses are busy. Third class builders also have bosses who work for months refusing to meet customers, wow. They should return investors money to retain any credibility left in market.
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  • Originally Posted by Krishna_m
    The way Jaycee Homes absorbing money from the buyer without any construction activity in any of his project since 2011, seems like they are gonna be history in next one year....future looks scary to me.
    Further to this, the builder who couldn't get even IOD for any of his project in almost 3 yrs, really doubtful whether he can deliver the property to us even in 10 yrs??


    Future is scary for investors bro not shameless people like Dipesh Bhagtani who is enjoying spending common man's hard earned money. They may simply declare the company bankrupt and not even law can help u recover money them. No a single multi tower project has been ever completed by this so called 50 year group. Zero credibilty and the way they are treating customers when they go for refund shows their intentions clearly.

    I am waiting for Bhagtani brokers and agents to defend their masters. It just proves what a bunch of liars they are.
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  • Originally Posted by yogiwadhare
    Look basheer i am a new person on IREF and looking for better investment options so i keep exploring various threads of developers.

    I dont know what actually is happening with Naren but i would suggest if settlement happens out of the court then its good for him. Rather going to court why dont u put so much of time to contact Jaycee Homes and settle down your issues.

    What are you talking about fake ids? here people come to get knowledge about various developers before they invest. I dont have so much time to create fake ids and talk on this forum.

    Basheer are you a buyer of this project? And my opinion to naren is more fruitful than yours, you are not even involved with money so its easy for you to guide him wrong

    Thanks Basheer!!


    Settle down issues ? When a customer goes to your office, you claim your bosses are away. The customer did not pay you a PDC when he bookes, you guys are not even ready to pay a PDC when a customer is asking for his own money. Consumer court group action is must against fraud companies like Bhagtani. Its good to see investors getting inclined towards group action against Bhagtani who will have to pay much more than just interest. Good luck trying to defend your company.
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  • Originally Posted by goldysae
    Dear all , plz correct your information . Bhagtani rio project is a waste for money . Also the rates are not fixed . You can get the above flats 3600 per sq.feet . whereas the ongoing rates in this locality are 7000 + per sq.feet . This project hasnt got any approval and the land is in litigation . i may be worng but this is what i have investigated and heard . I stays in the same locality . i heard the builder needed money to complete his other ongoing projects in mumbai and this projects was launced just to collect the lumsome money to fullfill that ...i have heard that the projects wil never come and the money will get blocked . Some of my friends have booked the flats here and are ready to sell the flat 4500 per sq feet .


    That's the complete game plan of Bhagtani, thanks for enlightening this forum about these Builders.
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  • Originally Posted by Gangaram
    Giving advertisement in some paper is nothing new. All “money double” frauds give advertisements in newspapers. Bhagtani needs more funds and advertisement in papers. The advertisement does not say that possession WILL be given on date XYZ. Don’t you see the political party posters or full page advertisements in newspapers and big boards? For selling anything one needs advertising. Nothing against A or B it is just advertisement. You can also give advertisement in newspaper by paying to them. I think those who are working with Bhagtani or are agents read the postings and then after 1-2 months they create some news to remain in market or to collect more funds.


    Yes sir, Bhagtani agents are active on this forum as can be seen on previous page itself if any one needs proof. These cheats must be exposed and put behind bars for cheating the common man through a series of ponzi pre launches.
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