[Resolved]  SMR Holdings — Pathetic on Commitments

Address:

Bangalore, Karnataka

SMR Holdings, Builders in Hyderabad and Bangalore.
Booked a flat in SMR Vinay Galaxy, Bangalore. This Builder is pathetic on commitments. Project delayed for more than 1 year beyond committed hand over date. Complete mismanagement of funds, has diverted all the project money into seeding new projects, now claims he doesn't have sufficient funds to finish the ongoing project. Even the petty rental penalty has been deferred under the excuse that the builder is bankkrupt.
This project is currently shown in the list of completed projects on the SMR website :)...Looks complete from outside, but only the residents know the reality. C-Block completion is nowhere near site!
In general, builders would have a project completion linked payment option. They would finish work upto final slab, so that most banks and customers would release 80-90% of the money to them. Then they would divert all funds and resources to upcoming projects, cause heavy delays in project. They are actually earning from our invested money. This is the business strategy in Real Estate business today.
Bhaskar Mondal
C-705 SMR-VG
[protected]