[Resolved] Shwas Homes Pvt Ltd. — Kochi's biggest fraudulent builder after apple a day
This is intended to be a letter of warning to all investors searching for oppurtunities in Kerala. I live in the Middle East & an investor in Real Estate in Kochi. Within the Real Estate circles in Cochin, it is widely known that Shwas Homes has always been a fraudulent company from the very beginning of the start up. If I had known about this in time, I would not become one among the many investors who got cheated by Shwas Homes.
I booked an apartment with them to be finished by 2006. It still does not have a basic amenities. Not an elevator not even a car park for which I paid a good some of money. They changed the deed agreement before registration without informing me. They kept asking payment without finishing construction of the stages. The MD (Sreeni) & Marketting person (Biju) is always strangely in meetings & unavailable when customers arrive. The quality of construction is too poor that none of the well known Real Estate agents prefer to deal with Shwas's properties. I contacted several agents attempting to sell the apartment, and no one is willing to deal with Shwas as they expected it to be the next "Apple a Day" scam & they can all see it coming.
The bad name Shwas Homes has acquired in the Middle East has made the directors decide on looking for greener pastures with more gullible NRIs - like Europe. Most of the people in Europe will never know of the long history of frauds Shwas has until they are neck deep in a hellish court battle.
Some of my friends are going on with their court battles & I am wondering when I would ever be able to get rid of this cursed property. I am sorry, but there is not a single investor who has stopped regretting their decision to invest with them. With many lakhs of ruppees in bank interest is all gone wasted, the stories of losses among investors are many. Nobody is willing to come forward to buy these apartments, as there are many better options (in terms of standards, quality of materials & finishing) at much more competitive prices available in Kochi.
Any of the above can be independent verified with credible Real Estate companies, ex-employees & existing investors.
If you are seeing this notice before making any payments, consider yourself fortunate. To all others, I am sorry, you should have researched much earlier.
P.S: Attached is a panorama photo of one of many apartments in Phase 3 of their projects Mystic Heights in Vyttila, 10 months after the target date provided to its investors (October 2010). The standard followed in the design & materials used are worse than any Builder in Cochin. Proof of poor design can be seen in every room, especially in the kitchens. The investors who booked this Phase of the project will have to invest much more to correct the many defects. The last time I checked (yesterday), this block was still incomplete. Of what this Builder has made of the hard earned money of NRIs can be seen in the picture & the woes of the investors can be imagined.
Complaint marked as Resolved
Shwas Homes customer care service did everything in their power to resolve this complaint. All attempts to contact the complaint author have failed. Therefore, this complaint has been annulled and must not be considered where company image and it's services are concerned.
[Mar 15, 2016] Shwas Homes customer support has been notified about the posted complaint.
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