I have a booked 3 BHK Flat in Faridabad sector- 89 with M/s ferrous Infrastrcuture Pvt. Ltd.1 st floor , Block -B, Vatika Tower , Golf Course Road, Sector-54, gurgaon.
I just say that this builder is failed on all aspect to earn investors confidence by manupulating the thing with poor management thing. This builder is trying to collect money by chaning demand letter and manupulating the things are as under :-
1) Collect fourth installment in advance. After seven months I have visited the site construction is not competed as per plan.
2) Collect Rs. 48112.00 extra in one installment by sending wrong demand letter to LIC Housing Finance without my consent , which is a Fraud. This shows that builder is in collusion with LIC -HF. I am requesting other department to check about the relationship of Ferrous with LIC HF.
3) Forcing me to pay for 5 KVA instead of 3 KVA (Generator Backup Chgs) as mentioned in the agreement min. 3 KVA Max 10 KVA. Other builder Like RPS , Piyush in faridabad taking 1.5 to 2 KVA for 3 bed room Flat. This Shows the intention of builder to collect extra money from investors.
4) Forcing to take Clum Membership as I have purchased a Flat not a club.
5) EDC & IDC is also high as compared to other builders of same area.
6) Send several Letter to the Builder but no reply received . This shows deficiency in service and poor management .
This is my big mistake to invest in M/s Ferrous Infrastrcuture Pvt Ltd. Investors Who have facing same problems kindly joint hands to recovery the undisclosed demands by the builders.
Copy of Letter written to Ferrous Infrastructure, till date no reply received are as under :-
Kindly refer to your revised demand letter dated 05Oct09 for Rs. 273,260/-, we understand from your office that LIC Housing Finance Ltd had released payment of Rs. 321,372/-, meaning excess payment of Rs. 48,112/-. Surprisingly, no receipt has come from your office for this installment payment.
Now, we received another demand letter dated 10/11/09 for Rs. 1,03,906/- thereby adjusting the excess payment in interest and open car parking changed to covered car parking without our consent. On informing this mistake to your office, they have revised the demand once again and sent new demand letter dated 20/11/2009 for Rs 66,406/- and changing the interest charges to Rs. 15,678/-.
I protest to pay the interest amount on the grounds that from last three installment payments, your demand letter shows incorrect amount and we have to persue with your office for corrections, which normally takes long time as your staff always claim that they have to take your permission and you seems to be always busy. For example, the latest demand letter dated 10/11/09 was wrong and it took 10 days to correct the same. The revised demand letter was dated 20/11/09 received on 26/11/09. So, most of time is wasted in getting the demand letters rectified.
Moreover, it is also seen that the demand letters are manipulated as per your convenience and interest. For instance, the latest demand letter shows covered car parking whereas the earlier demand letter was showing open car parking. Moreover, you have charged interest of Rs. 15,678/- without giving valid reasons and calculations for the same. I protest to pay the interest as the due date for payment should be extended likewise if there is mistake in your demand letter and it takes several days to get them corrected from your office every time.
Moreover, you have collected the installment cheque directly from LIC Housing Finance office without our consent and have not informed about excess payment received. We expected transparency from your office at least to inform about excess payment before depositing the cheque. Secondly, the interest should also be provided to us, on excess amount paid by LIC likewise.
In this regard please also refer to our earlier letters dated 16/07/09 & 01/08/2009, our installment payments are aligned with construction at the site, especially L tower. You have also collected installments beforehand on several occasions like 4th installment collected 7 months in advance.
We have also refused to accept club membership and power back up of 5KVA. Power back up of 3KVA is sufficient and we purchased a flat from you but not club membership and we should not be forced for the same. We have not received any reply from your side on mentioned complaints.
In view of above, I request you to urgently send revised demand letter with following amendments:-
1/ Remove Club membership
2/ Reduce power backup to 3KVA max.
3/ Reverse interest claimed in error
4/ Open Car parking instead of covered.
I assure you that on receipt of corrected demand letter, if any payment is due from our side, we will arrange for payment within 30days of receipt of such demand letter. Till then, I am unable to remit any further payment due to wrong demand from your side and in no way liable for any interest there upon for delay in replying from your side, which may please be noted.
This is to bring to public's notice that Ferrous Infrastructure Ltd, Undertaking projects in Faridabad are REAL FRAUDS.They will give you false promises of completing the construction in 2 years. They duped me and 3 of my friends. We paid a hefty amount of 7 lacs each and Ferrous infrastructure had given us in writing that the flat's possession would be given in 1 year and construction would be complete in 2 years. We gave them money in 2006 may and till now (March 2010) the construction is not complete. We thereby filed a consumer case against them in Consumer Court, Kutub Institional area, New delhi. The court finally found them guilty of misrepresntation and duping us of money. In lieu of this they have been ordered to pay 12% P.A. simple interest to us along with 1 Lac per party as litigation cost and for
mental agony. So as an honest suggest, don't even think of making any booking with Ferrous. They are frauds in the market. Stay away.
if anyone has been already duped by them, file a case against them in consumer court, new Delhi. You are liable to get the same relief as we got.
Their lawyer didn't even appear at the date of execution application hearing, after the judgment was passed. This clearly reveals frivolous intentions of the builder. I have invested 14 lacs as principal amount and even after the court judgment (to pay about 22 lacs in all), got no reply form the fraudulent builder
Their website is www.ferrousinfrastructure.com/ . The case was abhishek vaidya versus Ferrous infrastructures via case numbers 116/2008 and 117/2008 in the Kutub Institutional Consumer Disputes Redressal Forum. The customer code as per their records are 2006/SI/36/330 and
2006/SI/36/332. The MD of this fraudulent builder is Amit Seth. Their office number is 0124-4625500
I agree as Ferrous Infrastructure builders are fraud. I have booked a 3 BHK in sec-89 project and paid approx. 85% of money, in this they charged high amount on EDC/IDC & power backup in comparision to other reputed builders. On top of that "CONSTRUCTION IS STOPPED FOR LAST 2 MONTHS", when I checked with Ferrous pple, they told nothing happend.
Then I called up Sunil Kumar, VP of ferrous, he agreed that there is some dispute happened with contractor and this will be resolved in 7-8 days. Its now 20 days passed and no progress happend. Contraction has not started and with the current progress, they would not be able to give possession in next 2 years.
They commited to give possesion in Oct'2010, seems impossible, and they are not responding to any queries now.
With these news I am very disappointed and forced to go under the shelter of consumer forum in case I dont get any solution.
I think investors with Ferrous Infrastructure are in serious trouble. No we all have started receiving letters about the interest on late payment. Are these guys were sleeping since last two years ?. Suddenly there is a letter demanding interest on those late payments that happened in last two years. See their utter mismanagement, as they never mentioned about interest of any late payment in all their demand letters sent to me in last two years. I made the last payment in October 2009 and after seven months they are demanding interest!!! Ridiculous, nonsense and laughable. The people in Ferrous are just a bunch of jokers. Should not we also demand them the interest on late construction of the flat ? what should we all do now ?
Can somebody guide how to take this matter forward, constuction is stopped for last 3-4 months and no information on that. Whenever I try to call Ferrous people, 1simple answer, He/she is not available.
Is there any chances of company defaulter ? What is best way to get the money back.
I came to know that Ferrous started the construction in Sec-89...Last week i went to check the same and found..
1. Only 2-3 labours are working, that is not going to help out as these major projects require mass labor to complete the projects in time.
2. few sales people of Ferrous (Vipin) were there at site in a room and clearlysaid that if every builder is delaying there project for 6 months - 12 months, then Ferrous is not an exception, so lets assume Dec'2011 as target date from them...and add few more months as courtesy for them.
3. So this is the current status from Ferrous and now they will plan to get the next demand (Internal plaster completion) and that's why they are targetting that area and may not be focussed on completion.
PLZ... PLZ... DO NOT DEAL WITH PROPERTY PROMOTIONS WHILE BUYING ANY PROPERTY IN FARIDABAD NEHAR PAR, SEC 89, THEY HAVE JUST OPENED THEIR NEW BRANCH IN CROWWN PLAZA, FBD, WHERE TWO AGENTS "SUMIT" AND "ANURANJAN" R APPOINTED, I DEALT WITH THEM 6 MONTHS BACK...THEY ASSURED US THAT THEY WILL FINALZE THE DEAL WITHIN 1 MONTH.. AND NOW ITS BEEN 6 MONTHS ALMOST AND THE DEAL HASN'T BEEN FINALIZED..WE HAVE PAID ALL THE INITIAL MONEY (5.5 LACS) AND OUR LOAN APPROVAL IS GOING TO BE EXPIRED AND THEY R STILL NOT SERIOUS BOUT THE DEAL... SO FREINDS I WARN U BOUT THESE TWO MORONS... I M FACING THIS PROBLEM AND DNT WANT U TO FACE THE SAME, SO ITS BEETER U DNT MAKE ANY DEAL WITH PROPERTY PROMOTIONS... THERE R OTHER RELIABLE DEALERS... I M WRITING THIS POST CUZ I M REALLY PISSED OFF WITH THESE GUYZ...AND DNT WANT ANYBODY TO FACE THE SAME ISSUE...NOW ITS UPTO U... AFTER ALL MONEY IS URS...
We have two flats in Ferrous City Sec 89, in Tower "J".
Visited site on 10.10.2010.
Tower J is nowhere completion (in fact it has just started), whereas the company is sending demand letters frequently.
We have already paid approx 75% of BSP.
Am not interested in club membership, since I am buying a flat & not a club. (Am 56 yrs old).
First payment was made in March 2006 for 3 lacs, but no sign of completion/possession as per promise of 36 manths.
Agreement is totally one sided with no relief for the unsuspecting customer.
No details/breakup of payments made has been provided.
Very sad state of affairs.
I have also booked 3 BHK in Beverly homes, and got disappointed now.
They told me there is PLC Charges for Second & Third Floor, But they have charged me PLC charges 100 Rs Per Sqaure Feet (I.e. 87600 Rs.). They have not mentioned any PLC chagres in my Allotment Letter, but they forced me to pay the same. other they will cancel my booking.
I told them to return my money, they have denied.
I discussed with so many times with VP Sunil Kumar, & I have mailed to Amit Seth, but nobody has responded.
Am not interested in club membership, since I am buying a flat & not a club.
But they took money for the same in fourth installment.
I feel FERROUS INFRASTRUCTURE is a genuine builder. I had visited the site and fully satisfied with respect to construction and demand of money from builder side. I feel that all of you are frustrated customers. DO NOT spoil the image of anyone without having any evidence in your hand.