[Resolved]  Nitesh Estates Pvt Limited — Refund

Nitesh Estates is a relatively renowned company and I fell for their style and architectural superiority when I decided to buy one of their flats in Kochi. I work in the United Kingdom as a consultant and fell for their advertising and sweet sales talk about customer service, quality and guaranteed customer satisfaction.

I paid an initial amount of 1.5 Lakhs rupees as booking fee around September 2007 and due to personal reasons had to cancel the apartment. The cancellation happened on September 24th (via email and phone). On following up with the Nitesh Estates office in Cochin and Bangalore, they promised to refund the remaining amount of 1.2 Lakh rupees within a few days.

After 9 months and dozen excuses, Nitesh Estates team has comfortably forgotten my request. Over the past 4 months, they have not been responding even to communication mails.

I am considering going down to India and speaking to them directly but that may not help as they will promise another date for refund and ignore it once I am back in the UK.

Please advise how I can settle this issue.

Anup Pillai
Consultant - American Express
Burgess Hill,
United Kingdom
0044 - [protected]
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Aug 14, 2020
Complaint marked as Resolved 
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I wish I could give et a 0 star.
I bought Nitesh's Columbus Square apartment when it was almost ready (all the slabs had been completed).
Nitesh took all the money upfront as all the slab work had completed.
Because of this delay financially my family has gone through a lot, there is 0 appreciation in the property for me to go ahead and sell and moreover, I've spent 10s of lakhs of rupees i'm repaying in terms of interest for which I don't even get tax benefits due to delay in possession. These folks are just torturing people. I sincerely hope no one else goes through what my family and other buyers of this apartment have gone through because of this property.
Just beware of them guys!
Small error there... The booking and cancellation happened in 2008 and not 2007 as mentioned above.
Anup -

Nitesh Estates is generally good w.r.t customer service but you are right - companies treat you like GOD as long as you are paying the money and not the other way around. It may be due to the recession but that is no excuse for not paying you back or even responding.

Please update your progress on a regular basis.

My uncle and two friends were planning to buy Nitesh Estates apartment. I would like to know that they are not falling into a trap.

Take care
Raj A Siddharth
I too had booked a villa in their Nitesh Keybiscayene in 2006. For many months they kept assuring that the project is going to take off but for the clearance certificate from the bangalore aviation authorities. I had paid an initial deposit of Rs 5.lacs. I even visited their office and met their Vice President, who personally assured me that the project is good one and requested me to wait for another 6 months.I waited and nothing happened. Finally in Dec 08 I cancelled the booking and asked for my refund. They wrote to me stating that they need 6 months time and will pay in June 09 with interest. Now it is july and they are again asking for a months extension. The General Manager sales and marketing is never to be found in their office. He never bothers to return the call. Although he will write promising that the payment will be made and ask for more time.

This is what happens to people like Nitesh who have come from nowhere and started dealing will millions of dollars. Upstarts who lure people into their traps by Zazzy advertisements and try to make quick money. It is unbelievable that they dont have a 5 lacs to repay back.

All these projects what they have listed must have been a ploy to loot the money from the public. I think Nitesh needs to learn lesson is upholding the trust of the customers. He can take them for a ride once but eventually he will be doomed if he plays with the people's money. Finally Nitesh is acting like a petty shop owner.

I will never ever decide to buy any of Nitesh properties ( that is, if he is able to make one) and would also advise all others to be wary of such builders.
i have never had such experience from Nitesh Estates. They are good builders and they have set a standard . Market conditions are bad and even the so called reputed builders are not refunding on commited dates.

I have invested in 2 proprty in Nitesh last year and i had to cancell one of it for personal reasons. They refunded my money after six months but thats okay... I have also invested with another reputed builder and cancelled that property. Its over a year now am still waiting for my refund.

I asked Nitesh staff about Mr. pillai. wat i got to know is that, they, have refunded him 2 months ago in june.. so wat the fuss about.?

Friends i happy with Nitesh and have good relationship with them.. i will continue to recomond my friends to Nitesh Estes.
Yes! I agree with Mr. Jones`s comments. My relatives have got their refund money from NItesh after they cancelled their apartment. ( liettle late due to market condition) I too am planning to book an apartment with them.

you know a part of Nitesh Esates affairs.. Now a days people from consultants company.. that too terminated from previous employers have joined . They are well qualified in Bucketing rather than functioning. They do not understand the need of the customers. Better customers divert towards small players in the field.
i have never had such experience from Nitesh Estates. They are good builders and they have set a standard . Market conditions are bad and even the so called reputed builders are not refunding on commited dates.
These days I have a feeling that as a key person secoond in command in the management I am unfortunate to have been associated with such company where the promoter himself dieverting money worth $100000 every month to the foreign accounts mantained by him to safe guard his self interest instead of runnimg the company. I have doubt whether he will be a long term player. Also the Indiranagar Mall memorandum o[censored]nderstanding is termianted since 29th January 2009 itself. But still they are showing in the books it only to create a valuation in the market. Very unfortunate, using some connections in the high circle both political and bueurocracy he wanted to enmasse the money and run away. I still wonder how the HDFC invested huge moneys where there is no valuation to the company.
This is to state on record that the message posted above using my name is an act of malice of some disgruntled person. The same is with an intention to malign the Company Nitesh Estates Limited and myself. The entire message is absolutely false without an iota of truth. The very fact that such a message is posted deceptively on a website without following due process of law clearly demonstrates the fact that there should not be any importance given to such comments.

By this message I clarify and bring to light the correct and true fact. Nitesh Estates Limited is an emerging company in the realty sector having good reputation and brand image.
I am very proud to be associated with this company .

Are you people aware how Mr. Prasad From Potential is handling his staff.. He is treating them like slaves and to bring his old dearest colleagues into company, he is making old staff to resign.. torturing them like hell.. better they seek some legal help.. Is Mr.Nitesh doesnot aware of such things.. He dont have any respect for his colleagues other than his lovers.. He has purchased some land after few days of stay in nitesh.. How could it be possible without taking bribe.. Also, he brought many people for high salaries compared to their old company just because they are close to him.. He is harassing his own staff,
Would advise to go through the draft of the sale agreement before investing in Nitesh Flushing Meadows. Just don't go by the word of mouth from Marketing executive.

All clauses are in favor of builder, we decided to buy in group but after legal check, lawyer suggested to get few changes made. But they are not even bothered to discuss.

Clauses like : They can build additional floors, we just requested to add "they can build but after getting approval from respective authority", they didn't agree

Other clause : Current area is approx, further if they find that area is more, client has to pay the difference. But Marketing executive statement is completely contradictory.

So, we all decided to stay out of it. Nitesh is a good brand name so we decided to Book. But once went in deep, came to know about it.
With people I coordinated with, not cooperative at all.
If anyone would like to check the authenticity of above comment. Kindly ask the draft copy of sale agreement for Nitesh Flushing Meadows and you would see it.
Not sure whether Nitesh Estates are into all these issues, however, now they are issuing IPO from 23rd April and closing by 27th April...Will this be an next action plan to pay out for the customers who have cancelled the bookings and to proceed with the ventures which is in the state of half boiled. Whatsoever, now public should not suffer after buying the shares of Nitesh with the issue price of Rs.69/- which might come down after some days.
Hi Everybody,
What about Nitesh Forest Hill ? Any feedback on that from customers will help. I am planning to buy a flat over there. Does anybody has any feedback ? Like whether papers are clear or not ? whether all amenities are bing provided etc. This will really help to take my decision.
beware of this fly by night operator...All comments against Nitesh Estates is true...
They must have paid back after this post o[censored]rs...They are cheating all and sundry...He is sinking...
What projects has he done?????????? not many and raised an IPO...How has he been permitted to raise an IPO...
SEBI shall be asked .
Their share is sinking...
Only marketing and advertising heavily is what they are trying to base and raise thier funds.
Landlords, buyers dont fall into the trap.
All positive replies for all I know is not authentic...All complaints are...
Nitesh & Vaidyanathan do right things to get right name...Stop cheating and manipulating dudes
I have booked a 2bhk flat in the Nitesh Estate's Flushing Meadows, Whitefield, Bangalore in Sept 2010. At the time of booking it was stated that the completion of the project and handing over of the flats would start by March 2012. As per the payment schedule, I have already paid up more then 90% of the agreed amount well before March 2012 .

Unfortunately, till date (7th July 2013) I have not received any intimation of the handing over of the flat, however the customer service has responded but after several emails from me that the flats in block D would be completed by July / Aug 2013.

From the way the work is progressing it appears that completion even by Dec 2013 would not be possible.

I would urge the management of the said project to arrange to bear at least 70% of the huge bank interest burden that I am bearing post March 2012.

Sanjib Das, Flat No. B-3/16, East Enclave Housing Society, New Town, Rajarhat, Kolkata- 700156.
There are a lot of false paid reviews about Nitesh estates glorifying their properties. I am a resident of Nitesh Forest Hills and want to clear the are around such misconceptions. Nitesh is one of the worst amongst the builders in Bangalore.First unlike other builders who shift the maintenance to the residents after a year, Nitesh arm twisted its resident to sign a 5 year maintenance agreement ( not handing over possesion without it). Now when we are close to the end of the period they are trying to force residents to sign an even lengthier agreement. The maintenance and facilities are worse than a D grade builder.Let me dispell any myth and lay down facts :Most builders charge a maintenance of max Rs2.5/sq ft in that area. Nitest is trying to arm twist and force the residents to cough up close to 4 Rs. sqft .. If you had a 1350 sqft 2 BHK, that works out to Rs 5400 per month !!And this is for what service ?* The STP of the apartment is not functioning even 4 years after construction. Residents are forced to incur a higher water bill ( none of the borewells work) and are at the mercy of water tankers.* There is no dribble court as mentioned in the article. In its place stands the garbage dump !* The swimming pool is not usable for the past 2 months as the filtration units aren't working and bad design has caused rain water from the basement to be drawn into the pool ! Even if it did work for such a large community, the pool can barely accomodate 4-5 people at any time.* For a 280 flat apartment ( with the second phase of another 200 apartments) the gym has 2 treadmills out of which only 1 works, 1 multi gym, 1 cross trainer and 1 cycle !*There is no children play area. 4 years after construction they laid out a small lawn ( in June 2014) with no equipment, that is to be used as the Children's play area.* There is no skating rink as mentioned in the article ! Absolute rubbish !* There is no intercom facility to each apartment. Again absolute lies !* The common area maintenance is a mess. The party hall can't really be used as the common washrooms do not have working flushes or usable toilets. They are in a state of disregard with questions about repair always deflected away by the nitesh maintenance team.* Unlike what is mentioned above, there is no ATM or shop inside the complex.If after all this you still decide to invest in a Nitesh Property then I guess, god help you like we disgruntled resident pray .
Has anybody taken any action, Just want to understand that what can be done as this builder is surely upto something .
Rating is for the builder .
Mr Vidyanathan, Go and talk to the buyers of Nitesh Cape Cod, They are the true victims of you . Some people are on the verge of committing suicide .
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