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Vaishnavi Projects - Pionidhi Pride

 
5 Reviews
User
  308gosh on May 30, 2011
Vaishnavi Projects is neither arranging for Bank Loans for Pionidhi Pride layout, nor providing refund of Advance amount for those who are not able to pay the full heavy amount in cash for registration. Surprising that some 30*40 plots are still divided and registered to two parties. Hope this being their first project, Vaishnavi Projects tries to retain customer relationship and loyalty by being fair, honest and by understanding customer's difficulty in paying full-cash for registration. They should understand that they have taken advance in 2007 and have got huge profits on interest for advance amount by now. Hence they should sincerely refund the Booking amount for those who are not in a position to register the plot. This is the only way they can maintain and grow their name and business. Ofcourse, everybody agrees that they have done a great job in getting the plots approved, but without Bank loans many customers are unable to register.
Complaint comments 4 Comments     Updated:
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Comments

A Jan 31, 2012 by
User
ajay.bhogavilli  
 
Yes, we too are stuck the same way, we are a group of 5 friends who have paid the money for registration the same way; and now the Vaishnavi group is neither ready to pay the registration amount back nor are they making their site eligible to get us loans on the same.

Knowing that the group has a good political backup, if they are not able to get the required approvals for last 4 years, they getting the same any further is also doubtful. I think all of us are in soup.

Lets get along and try to take this up in a way it will put pressure on the Vaishnavi group.

AJ
N Feb 14, 2012 by
User
A103  
 
Ajay, can you please let me know what's the difficultly in getting a loan for a site in this project? Additionally, it seems from their marketing information that the project is approved by Kanakpura Development Authority, do you know what's the catch here? I have shortlisted them for a potential investment and will appreciate your inputs. Thanks.
N Mar 1, 2013 by
User
hisin2000  
 
Myself along with friends paid 25% of the site value based on a agreement with Vaishnavi Projects, Harohalli, Bangalore. As per agreement, they have to complete the project by March end or April. As per the agreement 2nd installment have to be paid after getting BMRDA approval for layout. But now they are forcing us to make immediate payment of 2nd installment or else return the amount paid. I strongly believe that they are investing the collected money to buy nearby land with our money and want to make huge profits later. Earlier they have told everything is ready and only BMRDA approval is awaited. Now they are telling huge money has to be deposited to get the sanction. We all trusted them because of the involvement of a DRDO lab authorities and a Labour ministry official in the deal. Now they also keeping mum on this gross violation of agreement.

Also they informed Congress Central Minister Shri Muniyappa is their close relative and they could get the sanctions much faster. They also promised that they will arrange loan for the balance amount /3rd installment from nationalized banks. But If this is the condition now, how far we can trust this builder and people associated with this project is a big question.
N Mar 1, 2013 by
User
Rakesh ThekkileMadathil  
 
Me and my friends also facing the same problem now . They have not done loan arrangement for people who booked 2007 itself . What will be our condition. At least they should get the preliminary and ask for money . One more thing is like they have finished the work where they have got the preliminary approval

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    Vaishnavi Projects - Pionidhi Pride

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    Complaint category Category: Real Estate