Hi

Few years ago i booked an office of 1000 sqf at upper ground floor with amr infrastructures. My broker Told me about fixed returns and probably increase in prices.

Since last 4 yrs or even more, prices seem similar, it was 4800 rs psf at that time. Te good thing was that they have kept their promise and paid fixed returns till today but now they are talking about posession so i think the returns will stop and until leasing is done, no rents will come. I doubt if they can lease at 48 rs psf. They have enjoyed investors money till now, prices have not appreciated, rents are not sure. They told 8 floors at booking time and have cheated people by making 18 floors, they have made double saleable area without giving any extra area/gift to old investors !

Does it seem a bad investment ? Do you think people will buy this in resale, i think my Money is stuck for years to come !
Any others who have taken a similar risk?

What do you think abt this project ?
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  • Originally Posted by Bobbydel
    Hi

    Few years ago i booked an office of 1000 sqf at upper ground floor with amr infrastructures. My broker Told me about fixed returns and probably increase in prices.

    Since last 4 yrs or even more, prices seem similar, it was 4800 rs psf at that time. Te good thing was that they have kept their promise and paid fixed returns till today but now they are talking about posession so i think the returns will stop and until leasing is done, no rents will come. I doubt if they can lease at 48 rs psf. They have enjoyed investors money till now, prices have not appreciated, rents are not sure. They told 8 floors at booking time and have cheated people by making 18 floors, they have made double saleable area without giving any extra area/gift to old investors !

    Does it seem a bad investment ? Do you think people will buy this in resale, i think my Money is stuck for years to come !
    Any others who have taken a similar risk?

    What do you think abt this project ?


    Leave alone Rs 48 psf rent, you'll be lucky to get a tenant at all for next few years.

    Was the promise of 8 floors made in writing in allotment letter or BB agreement? or was it just a verbal commitment of some company employee or brokers?
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  • As far as i know, AMR is a sister company/ has common Directors/ is another front of Earth Infrastructure .


    If this is correct, it's better to keep away . Returns bhul jayo, apna principal amount bhi dhontey rahaey jayo ge .
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  • Nothing to worry about. Offices will most likely be rented easily. India has growing economy and everyday companies need more space.
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  • Its not a big worry but it is just a new lesson learnt actually. Private builders offer 2% p m interest to financers, Amr got it at half price, they paid 1%.

    It was highly overpriced at selling time, today also rates are similar so no question of resale.

    All directors were telling 8 stories verbally and every second guy was a director in company..

    Floors increased from 8 to 18 , their land price increased from 1500 to 50,000 Rs psm, the brokers got mercedes by giving sh** stories of 8 floors and expected rentals of 65 rs psf on posession etc...and poor client gave his money on 1% which will finish soon on posession, then leasing will be a challenge and price psf remains a mystery...

    Atul Gupta opened up Earth infrastructures and Amr tells everyone they cant keep comittments as Atul Gupta was a broker and not director in company...

    To resume : only buyers suffered losses and resale seems a dream as price still remains same after 4 or 5 yrs ...

    So we have got some gyan for future..assured return are generally builders gimmicks...
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  • Originally Posted by MANOJa
    As far as i know, AMR is a sister company/ has common Directors/ is another front of Earth Infrastructure .


    If this is correct, it's better to keep away . Returns bhul jayo, apna principal amount bhi dhontey rahaey jayo ge .


    You are right bhai, dhoondhtey reh jaogey seems true as of now...
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  • Originally Posted by ThePunjabi
    Leave alone Rs 48 psf rent, you'll be lucky to get a tenant at all for next few years.

    Was the promise of 8 floors made in writing in allotment letter or BB agreement? or was it just a verbal commitment of some company employee or brokers?


    All verbal comittments were made and i was a bit naif at that time..my friend has another unit bought few months after my deal, he was also told 8 stories.

    Another NRI friend bought 3000 sqf and was promised 6 L comission refund by Atul Gupta but now company says he has left Amr so forget it...

    Anyways there is no appreciation and i am in touch with other investors, all investors will revolt if return stops or lessens. We have done same with another builder and they have to ensure returns if people get united against them.
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  • Unfortunately I have 3000 sq ft on UGF since 2006 August.

    I am planning to sue them in the Court of Law. One thing you mentioned and I am trying to find out is that this is true that the AMR has increased the floors and this is similar to what DLF in Gurgaon did. I have spoken with the same lawyer, but I am overseas in USA. If you want to cooridate let me know. If not then at least, can you inform if you have any document which mentioned about the original project with 8Floors?
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  • Viren

    Bhai stop day dreaming. This is Hindustan, jaha pe court ke baju rehne walle ki sunwaii nahi hoti to twadi kidda hougi phaji :D . Think of whatever you paid as Daan Punn and forget it.

    But I am sure people won't be cheated because IT sector and economy is still hot here.
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  • Customer reps at AMR are now telling some people they are leasing out to some company name TAG which is supposedly related to SAHARA. Can anyone confirm this?

    I googled for couple of hours and can't find any company named TAG which is supposedly related to SAHARA. I and couple of others been told don't worry we are leasing 4 + floors.

    How many think, company customers ko goli de ri hai ?
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  • Any other customers heard this same ? I recently went to AMR office and they told me and few others same.
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  • Can anyone provide with MOA or Article of Association or financial statements of AMR Infrastructures? The person who has the assured return agreement with AMR may have this.
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  • BOBBYDEL,

    Let me know if you would like to participate in the petition against the company to take the refund??

    madanr_2000@yahoo.com

    Originally Posted by Bobbydel
    Hi

    Few years ago i booked an office of 1000 sqf at upper ground floor with amr infrastructures. My broker Told me about fixed returns and probably increase in prices.

    Since last 4 yrs or even more, prices seem similar, it was 4800 rs psf at that time. Te good thing was that they have kept their promise and paid fixed returns till today but now they are talking about posession so i think the returns will stop and until leasing is done, no rents will come. I doubt if they can lease at 48 rs psf. They have enjoyed investors money till now, prices have not appreciated, rents are not sure. They told 8 floors at booking time and have cheated people by making 18 floors, they have made double saleable area without giving any extra area/gift to old investors !

    Does it seem a bad investment ? Do you think people will buy this in resale, i think my Money is stuck for years to come !
    Any others who have taken a similar risk?

    What do you think abt this project ?
    CommentQuote
  • Please let me know if any of you guys is in a scenario, where you have no choice but to seek refund. Because I tried my level best but AMR did not agree with the justified suggestions to pay interest or allot 1000 sq ft with legitimate earned interest for the last three years or assured returns. I will be pursuing the case next week. And the Attorny/Advocate is Mr M. L. Lahoty, who represeted te victims of DLF. Google search and you will read some if not all the info. Email me directly if you wish at madanr_2000@yahoo.com. I have at least one more person inclined to join me. This will help reducing the litigation cost per person
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  • Can others learn from such cheap and unprofessional working of so-called BIG Builders.

    Real estate is more a risk estate today. Few years back the risk reward ratio was high, but now even this ratio has considerably come down. In other word, the high risk - high gain concept is no more applicable. This sector is about to fall flat.

    In India there is no other business than real estate business - how can that be?

    All the illiterate are running the real estate business, and all the literate are customers.

    Har shaakh pe ullu baithe hai , anjame gulistan kya hoga ?
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  • Fixed Return By AMR

    I also have am office of about 1200 square feet. They have sent letters of possession which means that the fixed returns will stop. I went to the site yesterday and they are far from completing the building and giving possession. The company officials have not received the completion certificate so have agreed to pay fixed returns for September as well but seems like they will not pay once they handover the possession which they are keen to at the earliest even before the building is complete to enable them save on the outflow.
    The co rep says that part oft he building has been leased out by my floor which is UGF has not been leased out.

    They had clearly told us that the fix returns would continue without a break but that was all verbal. I guess we should all unite to take them to task. They conti ue to collect money from gullible investors today also
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