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

Hi All,

Let me tell you frankly that I do not know any other way by which a property can be funded if banks are not funding apart from paying from own pocket.

There are some options available like if you are lucky enough to get an allotment where the premiums are on the higher side then you can quit that property and buy something where the premium is not present this would mean that you might have to lose the prime location advantage but atleast you would be able to retain the ownership in almost same area.
Another way is exit bigger and get something smaller - again this may not fit in the dream home but still you would be able to have so better safe than sorry.

These two options are available for the end users only - if you are an investor then I have no advice to you because every investor must calculate the risks before moving the first pawn on the chess board.

As far as my car getting stuck in the nahar of greater faridabad you may never see that happen because I have a feeling that the nahar would be covered in course of time and will become part of the proposed widening of the road there, anyways no harm in wishing.


Thanks
Rohit

By the way here is something interesting for the investors of Naharpar area the Residex have risen 155% since 2008

http://www.nhb.org.in/Residex/FARIDABADres.php

check this out

CALL [protected] I[censored] WANT TO SELL YOUR APARTMENTS/PLOTS OR FLOORS IN FARIDABAD...

Please Note: None of the independent floors project have got Building Plan approval from HUDA.

there are come major issue with these projects.

Ignore all Demand letters, do not make any further payments till the building plan gets approved.


Owners Association - Era Divine Court
Sector 76 Faridabad

Request all Era Divine Beneficieries to join www.commonfloors.comera divine court

Hi All,

Today DLF has increased its prices for a project in Banglore to Rs 3000 per sq ft - a huge jump from the price of 1850 psf.

This is an indication that going forward things will not be cheaper any more.

A hint is more than enough what can be on the way.

Thanks
Rohit

Please join this group on Facebook its easy to share views there

http://www.facebook.com/?ref=home#!/group.php?gid=[protected]

I am considering to buy flat in BPTP. After reading the views of you all guys, i am confused either to go-ahead or not. Or probably look for other societies. Can anyone give me genuine advice

Don't waste your hard earned money. We are facing lot of problems because of we think BPTP is a good company but now we have seen that only making money is aim of BPTP. Do not buy a flat even single room from this company. This Company is totally fraud.
I m telling you to because
1 --- First they tell us that park elite floor land is sec. 85 but they scattered flats all over the sectors of faridabad.
2 -- When i m asking them to agreement after three installment then they gave me two document undertaking document and affidavit --- These both document is made by very intelligent lawyer or somebody else --- Every point in both document is clearly said that you can do anything in any condition if the company decrease the flat area, company can changed flat possession date and company can do anything with your flat you can not do anything.
When i read both document i am very upset and think why i choose BPTP.
That's why i m telling you my friend do not waste your money investing in BPTP. Their is lot of construction on this area invest in any other organization.

Hi All,

I am not sure why people are cursing BPTP and raising all kinds of questions? They did not think of these stuff when they thronged the doors even before the sunrise.

There is always a risk associated with softlaunches and I guess BPTP is giving 9% interest those who want to exit the project.

All developers have same kind of language written on the paper they always prepare papers which is in their favor its your choice take it or leave it.

Those who are chicken hearted and do not have the cushion of liquidity with them should always go for something which is ready to move.

Non of the investment anywhere in the world comes without its own set of risks, so do some homework to find out what kind of risk appetite you have, then take a decision.

Thanks
Rohit

Because our money is their --- you want we do not raise any question about our flats. you want we give our money and do not raise any question if i find any wrong in this. Rohit tell me if you are going to buy a t.v and you order LG t.v and give all money to them and they send videocon t.v then you will not tell them that i order LG t.v.

Why BPTP not told me that their is a risk involved in this when i m submitting my application form and booking amount to them.
Why do not they said this is a soft launch project we make it or not make it -- it is our choice.
And now you are guess that BPTP is giving 9% interest those who want to exit the project.
You are guessing that BPTP is giving interest or not. You do not know? Because it's a big company nobody can't do anything -- they give interest or not it's their choice.

Sorry Rohit i did not do my homework. If i did that then i will not take any flat from them.
But you know why i did not do my homework because of i think Bptp is a big developer and it's a big company and i think that big company will not do any fraud work only small company do that.
But now i understand that big or small no difference only money matters.

Hi,

Most o[censored]s never read the fine prints - and if a dealer sends a wrong tv then you ask for the brand of your choice if they don't give that then you ask for the money back and the deal is closed.

But you cannot compare property with consumer goods, stakes are different, size is different.

BPTP did say that they are proposing to build the floors there and the maps were not approved at the time of launch so it was technically a soft launch.

The problem is that we are living in a age where news travels at the speed of light but the construction industry is yet to find a way to match with speed :)

The option is clear, if you have the risk appetite, willingness and ability to pay from your own pocket then hold on otherwise simply exit there is real good premium on the property there.

Those who have not been allotted they are getting their money back with interest. ("I guess" is an american slang which means "Yes")

and you are right its only money which matters :) welcome to the material world.

I have been alloted 180 sq. yds second Floor in p Block and wanted to sell.
Contact me on -- [protected]

Can any one help me to understand the issue with Faridabad Neharpar area? Its been around 5 yrs since sectors were approved in neharpar area by Haryana Govt and license were allotted to many township/builders. But still this area does not stand anywhere in terms of basic infrastructure like roads, severages etc...
I dont believe there is any burning issue with any specific builder in that area if builder's project is delayed. But the question which I am having is why big budget builders like BPTP etc or for that matter local public of that area is not putting presseure on govt for development of Faridabad Neharpar. If this area gets good infrastructure then all the existing projects will get boost and even builders will speedup their project execution.
But why Govt has been negligent for this area? And why builders are not lobbing for this matter.
please let me know your views...

There was an RTI filed by a group of people regarding that area. The response is here

http://www.indiaspaces.com/blogquestion.aspx?qid=116

in a nutshell 2013 is the year which government is looking at for all the amenities to be provided. However since too many projects would be in completed and handed over by the developers there is a possibility of these builders doing some work on their own they may ask for some additional money or may ask the society to raise money and they will do the development on their behalf.

As of now that area is not livable by the urban population lets wait and see when the first project is handed over to the public.

Thanks
rohit

Thanks Rohit
- Response from RTI does not hold good any more as govt has already failed in achieveing first milestone (biggest) i.e. acquiring the land. End date can not be predicted unless land acquisition has happened fully.
- Builders were granted permission for building township in that area in 2005/2006. So my main question still remains unanswered to me, why not builders has pursued this matter fwith govt for so long.
- Haryana govt treatment to Faridabad (comapre to gurgaon inspite of faridabad enjoying best location in NCR) area as been clear to every one. So just waiting govt to reach will not work unless builders and local people put pressure on govt.
Cann't we do any thing on this regard?

Hey Guys,

I came to know that PNB has started disbursing the loan amount. Do you guys have any update on this?

Hi Guys,

I was planning to buy an elight floor on resale and hence I was visiting this site. By chance I got this link and read the problems faced by all of you. I was intrested in this project since it is in my budget. But now I am very much afraid. Could you please suggest me whether I should go for it or not.

regards

Amita Kashyap
[protected]
[protected]@rediffmail.com

Hi Amita,

It depends on your personal risk appetite. That area will take time to develop may be 3 years more to show its full colors.

If you are looking on something as an enduser I would suggest to go for something which is ready to move this will save you rent and give you peace of mind, and if you are looking for investment then it depends on your risk taking capacity, self funding willingness and ability. If you are investing keep in mind that you may have to fund the entire demand on your own although banks are reported to have started funding.

So take your pick - I have my huge investments in that area and I see a bright future after 3-4 years and till date I have been right rest is your choice.

Rohit

Hi Rohit,

Thanks for your guidance and suggestions. We will shift only after 2012. Hence delayed development is not a problem for us.

As mentioned before, this project is in my budget and thats the reason I am interested in it. However, I will be able to take this project with the help bank loan only.

Dealyed allotment or early demand by BPTP is OK but we will not be able to bear if this project get cancelled and if we are not able to get our money back. Are their any chances of that?? I am just worried whether this project is genuine or whther it will be thru or not. I just wanted to Could we check all those things with the help of any lawyer??

regards,

Amita

Hi,

I have confirmed news about 3 banks, LIG housing Fin, PNB and HDFC financing the project they have started disbursing the amount as well, so prima faice the project seems to have got all approvals atleast for the blocks where they have raised the demand for 4th installment.

I have huge investments in E block and P block I have paid the 4th installment for P block but yet not received demand for E block however on my last visit a week ago I saw construction activity picking up in E block as well.

As far as project getting cancelled is concerned that is something which seems too remote. The construction in certain blocks have reached advanced stages so if you are looking for a safer investment in Elite Floor Project the best choice would be something whose structure is already built.

It never hurts to get a second opinion from an expert please share the views of the lawyer here so the larger community would benefit.

To me the project looks genuine and BPTP looks like a fair builder they hide few things but they hardly lie about ownership of land or things like that which ERA did in its project. Moreover BPTP has refunded money to all who wanted to exit some got 9% interest some got their money without interest.

What I feel is 1300 acres of land they have to sell it atlast and this Parklands project is 4-5 years old so most of the bottlenecks regarding land ownership, title etc has already been sorted out.


Rest depends on your market research and self funding capabilities and risk appetite. my views could be biased as I have huge investment in this project which ofcourse are in profits as of now.

Thanks
Rohit

Hi Rohit,

Thanks for the information and i will post it if i get any further update.

Thanks

Amita