Finally things seem to be moving in Right Direction for Neharpar Home seekers finally. According to an Article in Dainik Bhaskar, 2 Directors from Pal Group have been arrested for Allegedly taking crores of Money from Investors and not giving them Flats for the money paid by them.

I am not 100% sure but I think this Arrest order has been issued by High court and Directors have been ordered to either pay back money or give flats to the Investors.

In an Interview with DSP he accepted that there are thousands of cases pending in Neharpar area and soon action will be taken.

I hope this time the Commitment is kept
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  • They say "Chori ka paisa rukta nahi, jaldi hi udd jata hai.".


    Originally Posted by BlessU
    Hi
    Greetings

    Brother bottom line is do you understand which type of companies get investigated by SFIO??

    These are massive corruption and cheater companies like Jahar Veer Goga, or the erstwhile JVG group, or the bankrupt TIDCO or the bankrupt Daewoo motor co., Satyam computers whose owner is in jail.

    Take a look http://www.sfio.nic.in/websitenew/in%20SFIO.pdf

    Situation is not as it appears on the surface and is not restricted upto non delivery of units.. the company is in deep financial distress. Now I may be wrong but the proofs speak from themselves..

    BPTP has bitten more than it can chew and that to without any positive intent or prior experience

    Cheers
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  • If builder pays upfront payment of EDC/IDC then his interest cost would also be a burden to the customer.


    Originally Posted by saurabh2011
    If costs are 2200 PSF for Super Area then for Carpet area builder will not charge less then 3200 PSF.... Carpet area is mostly 30% less then super area ie (3200-960=2240 PSF)....
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  • How much that will be? Lets say an EDC charge of max 3 Lakh for a period of 1 year. Interest will be approx 40K. Not much if it actually gets the development of region.


    Originally Posted by djvjain
    If builder pays upfront payment of EDC/IDC then his interest cost would also be a burden to the customer.
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  • Originally Posted by djvjain
    If builder pays upfront payment of EDC/IDC then his interest cost would also be a burden to the customer.


    Dude they earn 100s of crores from a project. Can't they pay upfront to earn something? Take an example - when government awards a tender, it keeps earnest money from the contractor, can't this be considered as earnest money for the development of a project? Current scenario me to developers ki saari ungliyan ghee me aur sir kadaai me hai.
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  • And the fuel to that our hard earned money.
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  • Heard recently from a Friend that the new Illegal colonies which were being constructed in Neharpar near khedi have been demolished by HUDA before they could be inhabited

    So I guess these are the same plots which we used to hear about here at forum for 5000 rs/sqyd

    Good job by HUDA
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  • बिल्डर कंपनी पर धोखाधड़ी का केस


    बुकिंग की रकम लेने के बाद फ्लैट न देने का आरोप में पुलिस ने ग्रेटर फरीदाबाद की एक बिल्डर कंपनी के खिलाफ केस दर्ज किया है। पीडि़त का आरोप है कि कंपनी ने उससे 11 लाख 70 हजार रुपये हड़प लिए हैं।
    सेक्टर-7 थाने में दर्ज मामले के अनुसार, सेक्टर-11 निवासी कावल सिक्खा ने शिकायत में बताया कि 2009 में एक बिल्डर ने अखबारांे में ग्रेटर फरीदाबाद में निवेश के लिए ऑफर दिया था। सिक्खा ने इस कंपनी के अधिकारियों से संपर्क किया। कंपनी के अधिकारियों ने बताया कि फ्लैट लेने के लिए एडवांस बुकिंग करानी होगी। कावल सिक्खा ने बताया कि उसने अपने नाम व फर्म के नाम से 2 फ्लैट लेने के लिए बिल्डर कंपनी को 3-3 लाख रुपये के चेक दे दिए। चेक लेने के बाद कंपनी ने बताया कि उनके फ्लैट बुक हो गए हैं। अलॉटमेंट लेटर नहीं मिलने पर उन्होंने कंपनी से संपर्क किया। आरोप है कि 1 जून को उसे कंपनी की ओर से ई मेल प्राप्त हुआ कि कंपनी फ्लैट देने में असमर्थ है। उनका कहना है कि कंपनी ने उनसे 11 लाख 70 हजार रुपये हड़प लिए हैं। पुलिस ने आरोपी कंपनी के खिलाफ धोखाधड़ी का केस दर्ज कर जांच शुरू कर दी है।


    nbt
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  • But who is this Builder, it's not mentioned anywhere.
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  • Originally Posted by prabhjeetran
    But who is this Builder, it's not mentioned anywhere.


    has to be bptp or RPS because both had allotment issues in Park Elite Floors and Rhythm respectively.
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  • Well there's nothing new here for these guys. BPTP is using money looted from Faridabad for Expansion in Gurgaon. I am getting atleast 3 message per day for their New Project in Gurgaon
    ---------
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  • Pal Greens, Sector 78, Greater Faridabad

    Hi All,

    Does anybody know any update on Pal Greens project of Pal Infrastructure in Sector 78 Faridabad. They are suppose to build 6 multistory towers (A to F). Their sites shows unconvincing construction updates and moreover their commitment towards possession had already gone by. They promised possession by Mar 2012 and now its already Dec 2012 and Towers are still pending and don't really know, by when they would be completing and providing actual possession to the investors.

    Do share your experiences, updates whatever you have got in this regard.

    Warm welcome to everyone.

    FBDUser :)
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  • Pal Greens

    Pal Greens (Sec 78, Faridabad)

    Here's an opportunity for you to flaunt an enviable premium address that matches all contemporary trends such as recreational activities, swimming pool and health club, smart Italian style modular kitchen, three-tier security system, fenced play fields for kids, 100% power back up et al to meet your elite lifestyle. Surrounded by enchanting scenic beauty, amidst undisturbed free-flowing greenery, these well-ventilated apartments provide lungs to your home to breathe in fresh air, ensuring the least wastage of wind and light, a heaven for nature lovers who are passionate about green and clean environs. With every fresh day, a ray from the Sun helps you soak in the realization of a dream home. Open your eyes for it is not a dream any more. Your fanciful vision, a dream just took the enthralling shape of Pal Greens...a home you would love to own!
    ]
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  • Originally Posted by FBDUser
    Hi All,

    Does anybody know any update on Pal Greens project of Pal Infrastructure in Sector 78 Faridabad. They are suppose to build 6 multistory towers (A to F). Their sites shows unconvincing construction updates and moreover their commitment towards possession had already gone by. They promised possession by Mar 2012 and now its already Dec 2012 and Towers are still pending and don't really know, by when they would be completing and providing actual possession to the investors.

    Do share your experiences, updates whatever you have got in this regard.

    Warm welcome to everyone.

    FBDUser :)


    Bro, try to find a buyer for your flat even if you have to bear small losses. This project may never see the light unless its bought by some other builder. PAL does not have any intentions to finish this project. Period.
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  • Originally Posted by miketest
    Bro, try to find a buyer for your flat even if you have to bear small losses. This project may never see the light unless its bought by some other builder. PAL does not have any intentions to finish this project. Period.


    True advice. Management of the builder are now honored with “rent free accommodation!!! Rehna , Khana ,Peena ..Sab Free” (in Jail).
    They have looted many investors in GGN/ FBD. refer following link.

    https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/faridabad-real-estate/34850-pal-group-s-2-directors-arrested-for-cheating?t=36643
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  • Investor/Underwriter files Multiple FIRs

    Hi
    greetings

    Looks like the worries of buyers for Pal Group have just started becoming bigger.

    Investor files Multiple FIR with EOW U/S. 403/ 406/ 415/ 418/420/468/469/471 r/wSec 34/120B of IPC APPLICATION UNDER SECTION 156 (3) OF THE CODE OF CRIMINAL PROCEDURE, 1973 1NTERALIA REOUESTING FOR REGISTERATION OF A F.I.R AND INVESTIGATION AGAINST THE FORESAID ACCUSED PERSONS FOR HAVING COMMITTED SERIOUS COGNIZABLE OFFENCES U/s 403/ 406/ 415/ 418/420/468/469/471, READ WITH SECTIONs 34 AND SECTION 120B OF IPC AND OTHER RELEVANT SECTION(S) AS PER THE PROVISIONS OF LAW

    See copies of FIR attached
    https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/gurgaon-real-estate/54913-alledged-cheating-by-pal-group-gurgoan?t=56464

    Cheers
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