I got a mail from my friend and would like to share here...
------------------------------------------------------

The owner of Nitishree is in jail for committing fraud and cheating. All those who have invested in Nitishree projects will not be able to get their hard earned money back as Nitishree is competely bankrupt and their is no controlling authority now. So, friends bad luck we all have lost our hard earned money.
All builders r frauds, be it Nitishree or Jaypuria or Prateek or Aditya or Shipra Estate etc. Government of India should take necessary steps to prevent such frauds in the future.
The latest example is "Crossing Republik" popularized as "A Global City", but now "Crossings Republik" is "A Global City with a Global Garbage Dumping Ground". All the developers in India r just interested in money and they r least interested in what ther r into.
So, beware of the projects which r being launched by developers in Noida and Greater Noida. All these projects r getting launched only because these builders r cash strapped and want huge money with less interest cost. All these projects in Noida and Greater Noida will also bomb in 6 months

MOre Info : ]http://www.delhilive.com/nitishree-shourya-puram-ghaziabad



BVe careful while prurchasing from newly launched projects in noida. Due to over supply these projects will surely be delayed and may be scrapped too.



BVe careful while prurchasing from newly launched projects in noida. Due to over supply these projects will surely be delayed and may be scrapped too.
Read more
Reply
14 Replies
Sort by :Filter by :
  • Vilish, thanks for this informative post.

    I think this post should be an eye opener for all those people who are running around and investing in new projects or pre- launches.

    Nitishree being bankrupt should not be a surprise for us when even Unitech & DLF are having liqiudity problems. BPTP could not raise the money and had to return their plot to Noida Authority.

    As suggested by some other members on this forum, Wait and watch should be the strategy. Only invest in a projects that have got off the ground and constuction is continuing.
    CommentQuote
  • this is a very old news.
    well ppl cannot stop buying because of the fraud.
    We have to be very careful before investing in any project.
    My take is always for a fully or semi constructed home.
    CommentQuote
  • vilish. Thanks for posting this.
    CommentQuote
  • any update on Nitishree projects?

    Hi friends,

    Is there any update on the NH-58 projects of Nitishree? they had launched both commercial (shops) and apartments there.... Is any work in progress?



    Originally Posted by compuwalah
    vilish. Thanks for posting this.
    CommentQuote
  • any latest news abt nitishree ?
    CommentQuote
  • Recently Nitishree have communicated that they have started giving possession of plots at Shauryapuram and already about 100 persons have got the possession. They have told that after clearing the dues, one can get the possession. can any one comment whether there is some merit in their statement or they are again trying to hoodwink the investors.
    CommentQuote
  • Hi
    Any news if the company claims are true. I have been approached by them but not sure if they can be trusted.
    CommentQuote
  • Action against Nitishree

    We are a group of people stuck in a similar situation and are going to take the matter to National Consumer Forum.
    CommentQuote
  • Originally Posted by trialsurvey
    any latest news abt nitishree ?


    Are you tracking this project in NH58 bro?

    One of the brokers I know has adviced me to consider investing asrecently there is lot of movement in both their residential (Aura Chimera) and commercial (Metropolitan) projects.

    After being stalled for many years these may be completed

    Would appreciate inputs from other posters/investors/followers of this area
    CommentQuote
  • Originally Posted by "Magadh_Pride


    Are you tracking this project in NH58 bro?

    One of the brokers I know has adviced me to consider investing asrecently there is lot of movement in both their residential (Aura Chimera) and commercial (Metropolitan) projects.

    After being stalled for many years these may be completed

    Would appreciate inputs from other posters/investors/followers of this area


    Anyone with any news? A friend is invested here and wanted to know any progress on site

    Posted from my iPad using Forum Runner
    CommentQuote
  • i have one commercial plot in shouryapuram what is the current status ? is he giving refund
    CommentQuote
  • Worst crooked builder of NCR possibly. Projects launched in 2006 still not delivered and people waiting for refund or allotment have no status.
    CommentQuote
  • Originally Posted by bakerpride
    Worst crooked builder of NCR possibly. Projects launched in 2006 still not delivered and people waiting for refund or allotment have no status.


    Friend a fraud is going on in NcR by the builders . Do not purchase under construction property .
    Purchase plot or constructed flat or Builder floor only .
    CommentQuote
  • Originally Posted by sanjeev86
    Friend a fraud is going on in NcR by the builders . Do not purchase under construction property .
    Purchase plot or constructed flat or Builder floor only .


    Totally agree. Nitishree has cheated people first for their Shauryapuram project who invested in plots, people were transferred to plots in NH 58 and then that project was scrapped. Then they converted people to flats and shops in Raj Nagar. Even they cheated for those.

    Worst possible company. Owner went to jail also. Should go again
    CommentQuote