[Resolved] Shwas Homes Pvt Ltd. — Kochi's biggest fraudulent builder after apple a day

 
57 Reviews
Kochi, Kerala, Kerala, Ernakulam District, Kerala, India
 chitanandam
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.

God bless!
Anandaraman

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.

Kochi's biggest fraudulent builder after apple a day
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.

Complaint Status


[Mar 15, 2016] Shwas Homes customer support has been notified about the posted complaint.
Verified Support
Shwas Homes Customer Care's response, Jul 11, 2019
The Information given as consumer complaints of Shwas Group is fake and we request you to remove the same as it will adversly affect the reputation of the company and it is a potential loss for our company too.
Complaint comments  56 Comments     Updated: Share0Tweet0

Comments

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.

God bless!
Anandaraman

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.
IHave booked a 2bhk flat at aquacity tetra core project aluva managed by shwas homes
Booking was done at march 2017 by paying 2.5 laks as booking amount.total was25lakh
At the time of booking they told me the booking can cacel at any point of time and full amount sill pay back within24hrs before signing agreement by paying 20%of total amount ie 5.2lak
I canceled booking within aweek but even after six months they are not paying back my 2.5 laks.They are not even responing my calls. Earlier they gave me several dates but simply lie.
Please help me to get my money back.I am paying 10.5% interest for that amount which I have taken loan from our credit society udyogamandal po.
Shwas Homes Robbed their customers
As regard to the complaints regarding the projects of Shwas Homes are concerned, let me assure you that they even don't have a efficient project execution team to execute the projects. Since they are building your homes as per the contract signed between you and them, their position is just that of a land owner who sells his land to bunch of customers and as a contractor, who build your homes. So it is in your every right you may ask the qualification and other details of their project execution team as it is with your money they are building it, not that they are selling it after they construct the whole building before selling it.

Apart from the shabby quality they provide you in their construction you must be concerned about the day light robbery they indulge with their customers. You may all aware of the registration & other expenses head they charge you with exorbitant figures on various heads. on that I can assure you that they had not remitted workers compensatory fund to any Govt. authorities as far as Mystic Heights - Phase -I is concerned. I am sure that they had not registered with any labour office for that matter till 2010 and I really suspect they had paid that amount for all other projects except Aquacity. In Aquacity also I doubt that they might have started paying that amount from 2011 onwards. they are supposed to charge 1% of Value of construction alone for the construction welfare cess, but I suspect they charge it for full flat cost. I am not sure on that but it will be better if you check your statements. In the case of Mystic heights - Phase -I they had pocketed from each customer up to an average of Rs.20, 000/- per customer which cumulates to 11 lakhs approximately. For the customers of Mystic Heights - Phase II & III it will be much higher as the cost of flat is much higher compared to Phase - I and i suspect they might have pocketed an amount up to the tune of 50 lakhs in that head itself. For all the other customers who had booked in other project you can check whether the Shwas Homes had made the remittance towards workers welfare fund by filing an application under RTI seeking information about the remittance made by Shwas for that project to The labour Office at Collectorate, kakkanad.
VICTIM SREERAM.
INFINITE CHEATER Shwas homes has the right to receive the mega award for cheating their customers for at least five consecutive years, as I am victimized. Exactly five year is completed after paying the full amount of 36 lakhs, including the registration fees in advance and receiving never ending excuses to prolong the registration of Magic Lilly flat. They are the most irresponsible builder I have ever heard. Now I am struggling in gulf to pay back my loans.
Additionally they are shamelessly asking to equally share the penalty imposed by the local panchayath against Shwas homes.
we are collectively with good number of customers are preparing to move to the court against shwas homes.
Let us join together for justice.
Venupalakkattu's reply, May 20, 2018
Mr.Jsreeram i too is an unfortunate victim with this fraudulent builder Shwas Homes as i have booked a two bed room flat in 2015 and paid 27 installments up to April 2018, and once they sent me a payment invoice for the statutory around 8 Lakhs Rupees, like getting electricity connection to a flat 710 Sq.Ft they were asking me Rs 1.75 lakhs...? When i ask them to give me a preliminary proof to justify this amount.. immediately they cancelled my booking and send me an e mail with a cancellation letter, which i am going to much hassled court case in civil and criminal court. If you want to contact me please drop an e mail to [email protected] or contact me on 00973 39878539.
We can not rate this company even -1

Hi all,

This is a warning for all who ever read this before planning to book an apartment/villa with Shwas homes, read the above comments and take wise decision, otherwise if you have lot of money with you go ahead. But if your money is from hard earned please treat this as a warning don't book with this builder as in Shwas homes Tetracore project almost more than 50% of the customers are facing difficulties with them and planning to move to the hassled steps of courts and we are aware of the difficulties and unnecessary expenses for the court cases. Even we are decided to move because of the builders forced us to go ahead. They start cancelling the allotment whoever questioned them about the extra money in the head "STATUTORY" they are charging from poor NRI's and start sending cancellation letters.

So please think twice or thrice before you proceed further!!!

This is intended to be a letter of warning to all buyers/investors whoever is planning to buy Villa/apartment from Shwas Homes. I booked a flat in 2015 and after paying 27 installments they sent me a statutory amount of 8 Lakhs against getting electricity connection 1, 47, 857.00, water 30, 379.00, workers welfare 22, 000.00, maintenance deposit 25, 000.00, building tax 15, 000.00, one time tax 10, 000.00, and registration 1, 29, 300.00. When i informed them that i will pay this amount but i need a primary proof to justify this amount, instead of convincing me they sent me cancellation letter. I am sure this not an exceptional case they might have done the same thing for many out of 147 customers only few we know each other but others we don't know. As to my surprise my last installment will be in july 2018 and with their 3 months grace period to hand over the flat March 2019 why they start asking me the statutory ?

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    Customer satisfaction rating
    88%
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    +91 48 4416 6000
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    Ground Floor, Shwas Mystic Heights I, Kaniyampuza Road, Eroor PO, Cochin, India - 682306
    Shwas Homes Pvt Ltd. - Kochi's biggest fraudulent builder after apple a day