Crisil — crisil real estate rating

Mar 05, 2018

Updated by bogusrating Crisil real estate ratings are completely bogus. They are giving very high ratings to pvt. Ltd. Companies which have zero process and data integrity. I am still trying to get my developer who has a high crsil rating to register my flat after three years of purchase. They refused to accept legal fees payment through cheque during demonetization and insisted that i bring only cash. Why should a crisil rated developer force its customer who has paid full amount for the flat to pay legal fees in cash only?? I am sure you can guess why!

When customers who bought property on the basis of crisil rating have a terrible experience and complain to crisil they are told that the rating applies to only one project and not all the projects of the company. At the same time crisil does nothing to prevent the company from advertising the rating on its main website or in its advertisements for all its projects.

Crisil and icra gave to pnb deposits a great rating even during the decade long geetanjali scandal!

Beware of buying property from a project with a crisil real estate rating - the rating means nothing. Better buy from a good publicly listed realtor like even though it may not have any crisil rating.

Mar 06, 2018

Updated by bogusrating Customers are buying flats from developers with Crisil star ratings in the hope that they signify good quality. Reality is that the ratings are a TRAP.

They are luring customers into poor quality developers and when the customer complains to CRISIL about the developer, they are told by CRISIL that the rating is only for a SINGLE project and not for ALL projects of the developer.

Truth is that ONLY poor Quality developers are approaching CRISIL for ratings and the really good developers don't bother about taking a rating from CRISIL.

CRISIL has given six star and seven star ratings to developers in Ahmedabad and Jaipur where there is no ground water and these projects don't even have government water supply. In Mumbai the local authority will simply refuse occupancy to such projects but in smaller B or C grade cities the rules are LAX and that is why CRISIL is giving ratings to developers in such cities only.

CRISIL rating is actually a GUARANTEE of malpractice and poor quality rather than the opposite. I bought a flat from one such developer with 6 star rating and water is being supplied through tanker. It took me two years just to get the developer to correct my name in his records as owner of the flat. Every step is a HEADACHE. ITs HORRIBLE.

CREST is TRASH.