Vgn — Buy Back program and pre-emi plan cheating

Address:Chennai, Tamil Nadu
Website:www.vgn.in/

I had booked a two single bedroom flats with VGN temple town in Feb 2014. During the purchase VGN had a deal that they will pay the pre-emi and also issued a offer that there is a buyback program and customers can sell the property whenever they want at market price during return time. The pre-emi scheme was working well until Mar 2015 where there were some delays in payment which were rectified in a couple of days or week. However the past few months the payment from builder was delayed over 3 weeks and for August 2015 there are yet to pay the pre-emi. As a middle class person i could accommodate the payment for couple of weeks and this is getting worse every month. Secondly as mentioned earlier VGN promised for a buyback but now they have mentioned due to market conditions we cant take the buyback. I wanted to return the property due to my financial instability however the builders were just repeating the same dialogues. If the company closes the options it has do it for the new purchases not for the one who they had agreed. The escalation manager now gives me an option to cancel the booking and get the money back with cancellation charges. This is highly unacceptable to ask the customer to bare the cost when in an ideal sitaution VGN must pay back more to the customer and again VGN will sell the property at the current price not the price at which they sold it to me. I hope such reputed company should not cheat its customers like this. wish VGN pays the pre-emi for August and September and take my property under buyback and not cancellation
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VGN Real Estate Developers — Delayed but now progressing....

Construction work is in full swing now at VGN Stafford, Costa, Krona 2, Fairmont though these projects got delayed. If they continue to focus on construction like they are doing now, VGN can deliver...

Stafford is looking better now and looks like phase I is almost ready to move in. Quality is quite good though this project got delayed.

I think VGN is maintaining the quality standards for all the projects currently except the delay which has affected us. Any which way, if they deliver, nothing like it..
Although the project was delayed by 3 months i am extremely happy with the quality and the workmanship
Thanks Vgn for the latest update on Fairmont. I have booked a flat and very impressed with their modern design approach. And the best part is to be connected to the city and be an owner of premium apartment.
Can't understand why almost all the builders behaving like this. God should save buyers from these kind of cheaters. They take our money and treating us very badly. They dont have heart. They simply cheating every buyer. I dont know what this RERA or CREDAI doing, why cant they black list these kind of builders and issue public notice for awareness? .

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