Dreamz Infra — Dreamz gk fraud

Address:

Bangalore, Karnataka

check times of India[protected] http://epaperbeta.timesofindia.com/index.aspx?eid=31806&dt=20150224# Six-month struggle to get money back Rohith BR   Afew months ago, when Anand P (33), a software programmer, and his wife were on their way to HSR Layout, they saw a home fair. At the venue, when the couple wondered how the company was offering flats at such low price when other projects in the area very costly (up to Rs 4700 per sqft), the manager said they have taken up the project using buyers money without loans from the market.Soon, the couple was taken to the project site where they were told that the first project was sold out and the second one was fast-selling. Once the couple returned to the fair, they were also offered discounts. When the manager also said the buyer can cancel the booking any time, Anand developed some confidence. As there was an announcement that bookings might become costlier by Rs 5 lakh the next day, the couple immediately paid Rs 1 lakh and booked a flat. However, Anand he had a shock when told his friends about it. They said the company had indulged in fraud deals. When he researched about the company, Anand found that the “sold out“ project didn't have the approval from BDA or BBMP. Cancellation of the booking became a trauma as cheques issued by the company bounced. It took more than six months for Anand to recover the money . Anand is not alone in this. In fact, people have suffered worse and lost their life-saving to such frauds. However, such fraudulent land deals are not new to Bengaluru, where property buyers land in a vicious loop. Senior advocate AV Amaranathan, who has tracked the land-related litigations in the city for over 25 years, says most cheating cases have direct or indirect involvement or backing of local politician. “In the past few years, the number of litigations pertaining to flat sales has gone up by at least 20%. They are spread all over Bengaluru, especially on the outskirts, “ he said. Amaranathan gave example of a recent case in Rajajinagar, west Bengaluru. “The local politician had obtained an affidavit from the BDA to transfer the property worth crores in his name leaving the buyers in a sad state of affairs. Besides, cases of builders vanishing after switching of their phones are many, “ he added. Another advocate said even the law is of little help to buyers.He said, “When such cases reach consumer courts, the builder makes it a point to pay the deposit amount to the buyer and escapes.What about the time wasted by the buyer0 and interest on the money invested?“ Charan KS, a consumer rights activist, stressed on the need to speed up redressal of litigations.He said, “Stringent punishment for builders and land owners involved in such cases will go a long way in addressing the problem.But who will push for such legal transforms?“