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Jaypee

[Resolved]  Jaypee — Fraud in Subvention scheme

Address: Gautam Buddha Nagar, Uttar Pradesh

Dear JP Team ,

Pl note I purchased this unit under subvention plan . I was told I have to pay Rs 2 L and there after JP will pay the EMI for two years and possession will be given in two years time .

I under stand there are some changes in T & C and the market feed back I am getting , it looks you are cheating the people , your Housing scheme is a fraud.

It looks I have to pay Bank Processing fees , you will take 34 L from the Bank on my Guarantee ( AGREED ) , and will pay installments for two years..THERE ARE ALSO SOME HIDDEN FEATURES AND I WILL BE SUBJECTED TO SOME INTEREST ETC..

Pl note my Broker was following with the AXIS Bank , for over 2 months , till this time my Loan is not sanctioned as AXIS is not funding your project , may be they might know the fraud you do . I HAVE OVER 2 CR IN MY BANK AND I EARN AROUND 80 LAKH PER YEAR AFTER TAX , SO THERE IS NO REASON FOR ANY BANK NOT TO GIVE LOAN TO ME .. IT IS DUE TO YOUR REPUTATION OF THE PROJECT. THIS DELAY IS THERE.

After two years you will pay me RS 5 per sq fee .. which is like 7000 pm ,,and you will pay this for next 3 years based on your track record for the delivery .. so I will be fooled for paying you 38 Lakh and in return will get 7000 PM ..

If I delay I pay 18 % interest and when you delay you pay ONLY 5 Rs per sq feet instead of 18 % interest for the delayed period for the amount you have collected.. LOOKS LIKE WE NEED ANNA HAZARE AGAINST YOU TOO .

I PLAN TO GIVE AN ADD on WEB SITE FOR THE FRAUD AND CHEATING YOU ARE DOING IN THE NAME OF SUBVENTION .. AND WILL OFFER THIS PROPERTY ON SALE TO ANY ONE WHO WISH TO BE CHEATED @ 2700 PER SQ FEET AGAINST YOUR PRICE OF 3400 PER SQ FEET.

I AM NOT INTERESTED IN THIS CHEATING .. PL RETURN MY BOOKING AMOUNT .. I DON'T NEED YOUR PROPERTY ..

Raman Sharma
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Complaint marked as Resolved 
Jan 15, 2014
L'solutions Private Limited 's response Dear Sir, I represent Legalistic Solutions Private Limited, a legal consultancy firm in Noida; that represents numerous clients in such matters of subvention scheme fraud. We are currently handling several subvention fraud cases against the developer, where the buyers were not granted possession on time. Many of our clients had planned their expenses in accordance with the promises of property possession made by the developer. Due to the delay in completion of the project those clients are now forced to bear additional expenses as they are paying EMIs along with rent expenses for their current residences. We are about to initiate negotiations with the developer and are contemplating our options. We have come up with the following alternatives- 1) Complete refund of the entire amount paid to the developer, from the bank as well as initial down payment made by the buyer, along with interest. 2) Allotment of property of similar value to the clients (assuming possession is immediately available). As of now we have close to a dozen clients who have been duped by the subvention fraud and we would like to invite more complainants to join us in our effort to get compensation for our losses. The more complainants we have, the more pressure we can build upon the developer. Only by uniting can we force the large corporation to sit at the negotiating table. If you are interested in joining our movement kindly drop us a mail at amit.[protected]@lsolutions.in or call us at [protected]. Warm Regards, Team L’solutions
 
10 Comments

Comments

I agree a unified voice needs to come out against jaypee, i booked in 2008 jaypee wishtown klassic and now its 2011 and NO CONSTRUCTION only basement has been done in 3 years . jaypee knew it from the very beginning and thus has cheated investors to an extent of delaying the construction . he has also taken more than 50 % of the total cost without doing a thing!!! this is a clear case of cheating and fraud and top to bottom all employyes of jaypee are hand in glove ..till date NOBODY has recieved any response from jaypee cheats !! seems dharnas and slogan shouting infront of jaypee office will only help ! this fraud builder needs to be dragged to court !!
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Jaypee is a Big Fraud and thosein India needs to take it further as leagal action in India is equally challenging .. I hope when Anna Harae ius done with his reforms, . it may be helpfull against Jaypee too .. thansk
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Jaypee office personals are so lazy, they never responce to your inquries and requests . only thing they know is, taking a money . their projects also over priced .
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how c an we warn the general public to keep away from their project.. currently i am lsing rs 2 L still there are many fools like me who are still investing in JP projects..
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best to cut the losses as continuing with jaypee is a bigger LOSS...chk the business case u r self as its been 3 years and still NO construction for projects launched in 2008 !!!
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Thanks for the comments ppl. I was about to invest in this alluring subvention scheme for the JP projects.
U saved me a big time.. Thanks again.
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These in Jay Pee are spoiling my time becuase I made my life time mistake of booking the flat under subvention scheme. Indeed trapped between the Jay pee and ICICI bank. The loan disbursed late by the bank due to issues with subvention scheme and panalties are levied on us. Do not pay any penny for interest component. Lets join the gang and become Anna for a day. Call [protected].
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is there any way JP can be taken to Prison for these cheating and the favour they got from mayavati ji .. they doi same cheating and sell under subvension and then no bank funds the project.. i hope one day like DP relaity shahid balva jp owner will be in TIHAR jail .. i wish and pray tosee that day .. i wil celebrate that day .. i am sure itis coming soon .. cheaters can not survive long.. jay Anna..
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can some who is cheated by JP print this and send to suprem court as a publice intrest litigations as there are several people who are cheated by builders like JP .. they collect the money and then delay the project by 3 to 5 years.. this will help suprime court to issue guidlines and can save future investor from JP ..warnig to all .. never invest in jp ..
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Even Nitesh estates is doing the same cheating. Cheating is in builders DNA !!
May god give them cancer and they die painful death !!


NITESH ESTATES IS A BIG CHEAT
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    Jaypee
    NOIDA
    Uttar Pradesh
    India
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