Hi all, Do anybody have any information about Spire central project. It seems they have not yet started the allottment. When they are going to start the construction??
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  • Originally Posted by chetani3
    Dear All,

    The investors of Spire Central project in sector 106 have been made to suffer badly by the promoters. The company after holding the investor's monies for more than 2 years, unilaterally cancelled the project and has refunded the money of the investors back into their accounts. This was done without any formal communication to the investors about the project license being cancelled or any explanation or reason for it. Phone calls to the company office just say that the license is cancelled since there is some case going on some of their other land in amritsar.. even this is a new communication since till a month back they were saying approvals have not been received on the plan..

    today those investors are all stranded and left with no where to go with the rate having increased more than almost 200% ...and the plight of those who bought it in resale is even worse since the company has only refunded the amount which was paid to them and not the premium which these investors paid to the sellers in resale..that premium amount as of date stands lost with normal buyers stranded with loans and leveraged assets...

    i appeal to all forum members to help the investors of spire central get justice by restraining from investing in their other projects and guiding us with whatever information and support we can get on next steps to get justice...

    i wud also request the moderators to make this a sticky thread so that we can gather as much public support in our fight for justice...

    if we allow builders to get away like this, none of us can be sure of our monies as to when a builder decides to cancel the project and refund the money...resale of projects will become very risky if a precedent like this gets set and the builder gets away scot free...


    Is the studio apartment project is also cancelled..
    Please inform us..
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  • Its the same situation with me as well, the best possible option is to file a legal complaint against them, alleging cheating, and hiding information from customers. Those people who are interested in filing a complaint may drop me a reply. And we need to deal with this ASAP
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  • Hi Dears,
    Greetings.

    I am rahul kumar this spire central developers is totally fraud person they done lots of time that type of activity. even his partners used to jail lots of time also they do not any type of image in market they have relation only collect the money in market and buy land sell out the few unit and than after that they can cancelled the unit regards rahul
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  • Dear Greetings,
    we have 35 to 45 people with us. Tomorrow we will go to spire gurgaon office we will meet the Seniors person, i got the name from delhi office first of all we have to discussed the case than we take hard decision in the office and they after tomorrow we will proof him also.

    Regards
    Tiger Team NCR
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  • I suppose that when we the company collected the money in first instance they didnt have any approvals, license and mere on basis of some collaboration with gold they cannot do so, this is a sheer violation of DTCP guidelines and HARYANA URBAN DEVELOPMENT REGULARIZATION OF URBAN AREAS ACT.
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  • http://thefraudbuster999..in/2011/10/crook-at-work-again.html

    just to give everyone an idea of the group's history... yes you might be making a good return on your investment in spire south but given an option i wud prefer another builder to get the desired returns on my money
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  • Originally Posted by chetani3
    http://thefraudbuster999..in/2011/10/crook-at-work-again.html

    just to give everyone an idea of the group's history... yes you might be making a good return on your investment in spire south but given an option i wud prefer another builder to get the desired returns on my money



    The link attached by u is not working .
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  • But still many ppl book in pre-launch to make quick bucks..
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  • thefraudbuster999(dot)b.logspot(dot)in/2011/10/crook-at-work-again(dot)html

    the forum does not allow b.logspot link it seems.. try the above one by typing in ur browser and removing the . between b and l

    thanks
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  • Originally Posted by sunilb
    Since its opening why don't you copy paste the content do everyone can see ...



    Here r the contents of the link -



    Monday, 3 October 2011
    Crook at work again
    http://nitishreefraud..com/2010_08_01_archive.html

    The above blog by someone warned people but by then it was too late. The crook mastermind straight had already done his job. Last year on 8th Aug round 50 members of a group fighting for the rights of round 800 investors (vicums of the NITISHREE FRAUD) met at Millenium park New Delhi.

    Everyone was worried by the false promises of nitishree infrastructure and decided to form a core group to fight aggressively to this fraud company. The blogger personally requested all like minded individual either facing similar situation with Nitishree or any other builder, keep following this blog and lets expose this company.

    Now the time has come to expose these fraud companies again as after Nitishree Fraud on of the director KN Shukla is out with his another master cheating plan TASHEE GROUP ... people are requested to share their views .... LETS STOP FRAUD AND PEOPLE LIKE KN SHUKLA to do regular frauds.
    Posted by fraud buster at 06:43 2 comments:
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  • Yeah but does it have any relevance to the Current discussion
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  • Originally Posted by merril2222
    Yeah but does it have any relevance to the Current discussion


    ..........this is for every individual to decide .

    ......btw, this topic & this article is present in this very thread & was dicsussed earlier on too .
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  • see every builder has positive and negative side until or unless there are no Regulatory authority comes in real estate these things will go on

    Regarding Spire South all major bank like SBI, ICICI, and AXIS Bank are doing the loan and future payment will go in escrow account ( which means this money of customers will not be used in any other project whether it is construction of the project or land purchase ) which is the very positive side of this project.

    In Spire Central 106 they have not taken the payment more than 20% or in some cases 10% or so and they have refunded the amount with interest of 9% although defiatley its a opportunity loss of investors but atleast they have got there principle with interest in some cases builders like M-Tech developers Bhiwadi have refunded the money through EOI cases without interest and project like Landmark Group Sector 103 still playing with customers money ( Investors has paid 35% in 4 month of time frame ) all false commitment of construction of the project, refund cheque bounce etc. going on.

    So in short Spire South is a safe bet and will give good return in coming next year or do so.
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  • Just because there are other thieves in the market, it does not justify cheating and fraud.

    It is times like these where there is test of intent of the builder. There were issues, but those were not handled properly by the builder.

    I know people who are invested in Sp-68 and I understand it is doing well. If there is an escrow account for this project, it is good.

    There would be investors who would have bought in re-sale and their networth would have been seriously eroded. Just paying 9% does not help them.

    PS: I am not invested in either of Spire project, but have had a good opinion about the builder (i.e. till now). But given the low risk taking capacity I have, I wouldnt want to invest in their projects

    Originally Posted by SRK Family
    see every builder has positive and negative side until or unless there are no Regulatory authority comes in real estate these things will go on

    Regarding Spire South all major bank like SBI, ICICI, and AXIS Bank are doing the loan and future payment will go in escrow account ( which means this money of customers will not be used in any other project whether it is construction of the project or land purchase ) which is the very positive side of this project.

    In Spire Central 106 they have not taken the payment more than 20% or in some cases 10% or so and they have refunded the amount with interest of 9% although defiatley its a opportunity loss of investors but atleast they have got there principle with interest in some cases builders like M-Tech developers Bhiwadi have refunded the money through EOI cases without interest and project like Landmark Group Sector 103 still playing with customers money ( Investors has paid 35% in 4 month of time frame ) all false commitment of construction of the project, refund cheque bounce etc. going on.

    So in short Spire South is a safe bet and will give good return in coming next year or do so.
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  • Hi
    Greetings

    Its an absolute case of Cheating and fraud and those invested if really serious should join together and file a formal complaint with EOW
    Draft EOW complaint against builder. Minimum 20+ buyers need to raise their complaint.

    Buyers should ask for their flats or an equal opportunity for habitation, at current prices in similar locations.

    This is an indicative draft and needs to be modified with specific proofs of advertisements, offer to sell, actual copies of payments made and receipts..

    Even Consumer courts would do better than 9% being offered + harrassement+Legal expenses.

    Cheers
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