Gruha Kalyan — Be careful.. Just they need your cash to rotate and invest it elsewhere...!

Address:	560095
Website:	www.Gruhakalyan.com

Hi This is my personal experience with Gruhakalyan. Also you can see similar comments & experiences from other customers in www.commonfloor.com They are selling flats ( yet to be constructed and only on paper!) Their business model is very different from other established builders that makes you think twice before booking a flat with them. They attract customers by offering very low cost because their project start date is not known, each person in Gruhakalyan says different project start date and occupation will be after 18 months+3 month buffertime …!! ( this is again not sure as project start date is unknown.) They say they have very flexible payment options….but once you book a flat with them as sales team won’t leave you without selling a flat by even asking you to pay Rs10, 000-/..!. Real tamasha starts after this…..They will be behind you like recovery agents ..They will pressure you to pay 30% to 50% down payment in cash/ cheque/card for booked flat ( but property itself was not registered by that time)…how will you feel safe here?? If you ask if Banks are approved your project etc they say big yes ..But if you say you would want to opt for bank loan for further payments…for that they say big NO and they want 30% to 50% only cash for yet to be started project and even for yet to be registered land property..! My point is Please book your flat with them only if you are OK with these Risks...also check if banks are approved their project and if Banks are ready to fund your investment after your 15% contribution, then that way you will be safe in all respects. Don't do mistake of giving them your 'post dated' cheques...They will say they will not present it to Bank until your confirmation ...but they will perfectly present it to Bank without your confirmation.! I booked a flat with 'lotus project' by paying Rs. 2.0 Lakh but I cancelled it due to all thsee issues….and they will refund your money only after 75 working days!!! This shows they are really struggling managing their Finance &Projects.