[Resolved]  BPTP Park Elite Floors Faridabad — FRAUD BY BPTP

I HAVE BOOKED ONE FLOOR IN BPTP PARK ELITE FLOORS, NEHAR PAR AREA, FARIDABAD, HARYANA AT A COST OF RS.16.08 LAKHS WHICH IS TO BE PAID IN INSTALLMENTS. THIS IS A CONSTRUCTION LINKED PAYMENT PLAN. I WAS TOLD BY THE DEALER THAT I JUST HAVE TO PAY THE BOOKING AMOUNT (RS.2 LAKHS, NON REFUNDABLE) AND THAT REST OF THE AMOUNT IS TO BE PAID IN INSTALLMENTS WHICH WILL BE EASILY FINANCED BY BANKS. NOW THE PROBLEM IS THAT NONE OF THE BANKS OR FINANCIAL INSTITUTIONS ARE GOING TO ADVANCE ANY HOME LOAN ON THE PROJECT BCOZ THE PROJECT HAS NOT BEEN APPROVED BY THE HARYANA GOVT. THE COMPANY HAS OVERSUBSCRIBED ITS BOOKING BY ABOUT 10-20 TIMES, A ROUGH ESTIMATE IS THAT FOR ONLY 800 ODD FLATS, THE COMPANY HAS BOOKED ABOUT 4000+ APPLICATIONS AND IS ASKING FOR PAYMENTS AS SCHEDULED. EVEN I HAVE PAID THE 1ST INSTALLMENT OF RS.2.02 LAKHS FROM MY OWN POCKET. NOW THE BANKS ARE NOT FINANCING THIS PROJECT AS IT IS NOT APPROVED. THE COMPANY DOES NOT HAVE THE LICENCE FOR ITS CONSTRUCTION. IF I DON'T PAY THE NEXT INSTALLMENT WHICH WILL BE DUE IN ANOTHER 60 DAYS. THE COMPANY WILL CANCEL MY BOOKING AND WILL GIVE ME BACK THE AMOUNT OF ISNTALMENT PAID MINUS THE BOOKING AMOUNT. IS IT POSSIBLE TO TAKE THE COMPANY TO THE CONSUMER COURT AND GET MY MONEY BACK. PLEASE ADVISE ME SOON. MY MOBILE NUMBER IS [protected]
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Aug 14, 2020
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I have also booked for park elite floors. i am surprised to see another demand without any builder buyer agreement. It seem BPTP is only interested in money collection business. I feel we are cheated and helpless as our money is held with them
What to do with hte new demand??
moblie [protected]
Hi

My name is name and i have also booked a floor in park elite project from BPTP, Kindly add me also in the group

Regards
Ravi Mallah
BPTP has demanded 10% more payment on 24/2 without doing agreement paper work. Thus, making its customers handicap to get their loans regularised in the absense of Buyer-Seller Agreement. I am afraid that I may end up this time too paying from my pocket only.
Hence I feel
Urgent need - not only we should unite ourselves but at the same time we should pressurise BPTP also to first complete buyer seller agreement and Triparty agreement (for bank loan purpose) and then raise the demand for 10%. Fill the mail box of Manager, Customer Care (vineetajatley) with your strong worded mails to let them know that their custmers have tounge in their mouth.
Till now im waiting for allotment
Hi All,

Creating negative image is very easy and internet is an easy medium to do that, however don't forget the volume of internet users are very very low and that too maximum internet users are very young, I am not sure if that would have real impact on the minds of a savvy investor.

Those who have read my previous post would know that BPTP was going to ask for the next installment and should have been prepared for that, however they have raised demands only for the A Block and P Block which actual construction is visible on the ground.

I have floors in P Z and E blocks and have received demand only for P block, has anyone received demand from BPTP for floors other than A and P block ? If they had then it is questionable stuff of BPTP otherwise they are on the track.

Builder Buyer Agreement is required and mostly used for bank funding purposes.
These builders are fooling the customers, in the name of independent floors and till date it's very true that they don't have any approval from the DTCP office, Chandigarh.

Now friends just suggest me, what to do next in this situation. I have booked the same independent floors concept by other builder named SRS.
I got an allotment of 180 yard BPTP Elite Floor (first floor) in P Block. What is the future prospects of this block.
Hi,

I want to buy a ground floor 250 yard BPTP Elite floor . Please contact me at [protected]. Only original holder should contact. Brokers/agents need not to contact.

thanks
Please tell me if any bank is financing Loan for BPTP Part Elite.

[protected]
Hi,

I have been allotted flat in M block and no demand has been raised so it seems that A and P are the only blocks where they have raised the demand. But not sure when the construction will start in other blocks and why only A & P, I mean it should start from A, B, C etc. Is it that there is no approval for other sectors or it is easier to construct in A & P sector. I am not complaining if the demand is delyed it will give ample time to source funding for the next allotment.
BPTP DOES NOT HAVE ITS PAPERS IN ORDER. NO PROPER SANCTION FOR THE PROJECT. THAT IS Y NO BANK FINANCING A LOAN. THIS ROHIT GUY SEEMS LIKE AND IMAGE CONSULTANT HIRED BY THE COMPANY TO IMPROVE ITS IMAGE ON THE NET. LET ME GIVE U AN EXAMPLE OF ERA CONSTRUCTIONS IN SECTOR 76. U GO TO THEM TO BOOK A FLAT THAT IMMED. TELL U WHAT UR FLAT NUMBER IS WHERE IT EXACTLY WILL BE IN THE MAP. GIVE U THE BUYER SELLER AGREEMENT TELL U WHICH BANK IS FINANCING THE LOAN AND IN THEIR CASE THE BANK IS READILY FINANCING. NOW THE QUESTION IS Y IS THE PROJECT OF BPTP NOT CLEAR LIKE ERA CONSTRUCTIONS PROJECT? WHAT IS IT THAT THEY ARE HIDING AND Y. Y CANT THEY GIVE THE PROPER PAPERS IF THEY WANT US TO PAY FOR THE CONSTRUCTION OF FLATS. WE ARE NOT DENYING TO PAY JUST THAT WE WANT THE PAPERS TO SUBMIT TO THE BANK SO THAT THE PAYMENT CAN BE MADE AS SCHEDULED. GOD KNOW WHAT THIS COMPANY IS UPTO. ONLY GOD CAN SAVE US NOW OR SHOULD V GO TO THE POLICE? CAN SOMEONE FROM THE LEGAL SIDE ADVISE EXCEPT U MR.ROHIT.
Hi All,

Yelling on net does not fetch anything good, ground realities matter, I have confirmed information about PNB and LIC Housing Fin providing sanctioning the loans.

ERA Constructions has its own merits and BPTP has its own, I am not a consultant and I am not hired by anyone, I wish I was so they would have paid some money to me for that (LOL). I do have vested interest in Naharpar area of Faridabad and to me BPTP as of appears to be the biggest of the lot present there.

If anyone has their own doubts then they should not even think about it, what was the reason Park Elite Floor project was overbooked ? If anyone is not satisfied then he should exit the project, enough buyers are on the line.

There are both good and bad things in world, do you comment on every bad thing ? This is a material world safeguard your own interest first. I am surprised by the negativity by the people may be they are frustrated lot, Luck does not favors everyone and common sense is not that common.

Since I have seen this kind of development somewhere else before I know what would be the fate of this area. If you do not have capacity and willingness to pay then simply exit, look for something which is ready to move, may be you are lucky this time so you can hit something this cheap.

Thanks
Rohit
Rohit you don't have complete knowledge...update yourself...PNB ready to sanction loan but not ready to release the payment without buyer/seller agreement. I have been allotted flat in A block and for me next instalment has been raised too. and yes you are right to say whoever do not have the capacity to pay from their own pocket ...should exit from this project.
Hi All,

I have also booked a floor in park elite and still looking for what is going to happen. I am not sure that why people are putting blames on others and not looking for a feasible reason. I am not in favor or Rohit or someone else as well. Its really a human tendency to look in to easily approchable and that was the reason why park elite got overbooked. Reason was its cost.
If we will look in to bit deeper, I can say only one thing. BPTP is not at all a good builder, I can just reframe my words in the way that BPTP is not at all to able to perform good. I have also booked two floors there and i am a real buyer not a commission agenet at all. But now I am stucked at all.

Let it be A or P or whatever it is.. even they have started the construction, but no bank is approving / disbersal the loan for their projects. Why for them only.. why not other builders like KLJ in Sec 77 and others.

Suppose they will start construction for other sectors as well, then how many will be able to pay at their own. I feel not more than 5 %. or may be less than that.

AND TAKE IT AS MY ADVICE NOT AT ALL PAY AT YOURS OWN. JUST TRY TO LOOK IN TO SOME BANK(HDFC/PNB/LIC) for sanction letter.
we should be on reality ground, we all are stucked properly. now we can not go back, we can not go forward, hope most o[censored]s are aware that what happened with builder OMAXE.. ITs gone, , now all the omaxe projects are not at all running. In case we will get letters ( sanction letter) we will have more time to look in, that what is happening there.
I will really be thankful, if rohit will put his view on this fact.

BUT PLZ>>PLZ>> not at all pay from your pocket this time.

Rest all upon destiny.
Hi All,

I am bullish on the project and the whole Naharpar area of Faridabad, The problem of delivery on time is there with every builder. The top names like Unitech, DLF have defaulted, JayPee too has problems.

The bare facts - These guys have land - so they have this plus point- what if we don't pay ? They will continue with the project as they did in many other and then will impose penalty and interest.

The risk of getting stuck for a while is always there in a soft launch or prelaunch. Well try to find a ready to move project at the same cost and the same specification. Even in Green Field which has known water and other problems 100 sq yd flats on G + 3 are selling above 40 lakhs - No one is stopping anyone to quit and buy somewhere else.

Why so much fuss? Everyone was negative on stock markets last year and it has doubled in one year and believe me when the euphoria will come back be it real estate, equity or commodities markets the prices will correct and some times crash.

Everyday about 10000 people from different parts of country come to Delhi and they never go back. which means accommodation is required for them, even in unauthorised colonies things are too costly. a Flat on 60- 80 sq yd plot will cost you not less than 18 lakhs with no or very little parking, no civic amenities like park, too much of pollution all around and no bank funding, I mean where the heck we are going to get this kind of bargain. I don;t see a place or a project where we can get houses at these prices.

Even govt is not supportive this budget they imposed a service tax of 10% plus on the construction that will take the cost to buyer higher by around 4% of the present price.

If anyone has a offer of similar project ready to move at the price BPTP and other developers are offering I would be the first to leave BPTP and buy ready to move one.

Those want to yell can keep on doing that no one cares for no one, everyone including me has vested interest I will do whatever looks right to me you should do whatever looks correct to you.
Whatever this Mr. Rohit is saying is . Seems he is another Echadhari baba kind of.

I have booked a 300 sqY in bptp Park elite floors and already paid 9lc but still no allotment letter. Recently Ms. Veneeta (BPTP) told me that yet they don't have any plan for next allotment and it may take another 5-6 months.

I will be thankful to part of any group/community planning to take any action againt these bleedy cheaters.

Regards
Ajay
Hi All,

Whosoever I am should not be a concerned to you. You should be safeguarding your personal interest first, this is what I have been writing since the first post.

Bare facts and naked truth hurts badly as they go against one's ego and beliefs.

Well if some has paid the all three installments ON TIME and still not been alloted then he should be looking for a refund which I believe BPTP has offered. Not everyone gets lucky in a lottery.

Thanks
Rohit
Hi
People who have received 4th demand letter, I think for A and P blocks, can you please confirm how you are managing to pay to BPTP. Because BPTP hasn't signed the Buyer's Agreement yet and Bank will not disburse amount without Buyer's agreement. So how are you managing this latest installment ?

I am asking because I have been alloted in H block. So I may face the same situation in near future

Thanks

Amit
WELL THANK GOD I WAS ABLE TO EXIT THIS PROJECT. I HAD AN OPPORTUNITY TO GET OUT OF THIS PROJECT AND I HAVE EXITED. EVERYONE WHO CANNOT PAY SHOULD ALSO EXIT. REGARDS NIKHIL
Hi All,

In start I wasn't sure that for nay negative comment about BPTP, Rohit is reverting with a lot of good excuses and most of the times with facts and figures. Now I have to say, that he has some more personal interest, , even now I am not sure that he is representing BPTP from this portal. AS when I dropped my last commnet witht my view that don't pay from your pocket, then rohit reverted and tried to say that no pay, or u may have penalities..even he took example o[censored]nitech, DLF. But I don't know that in neharpar area there is even a single project of DLF or UNITECH.
AND I am sure that this time also he will come with some more influcing facts..

BUT DEAR BUYERS, PLEASE TAKE IT AS AN ADVICE, , DON"T PAY EVEN A SINGLE PENNY TO BPTP, , BY THE TIME YOU WILL HAVE FLOOR BUYER AND TPA... OR BE READY TO SUFFER, , MORE LOSS>

REST ALL UPON YOU>

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