Expat Properties — Expat Garv, Paradise View, Crest and Wisdom Tree

Dear Sir / Madam,

Our first investment with Expat Properties was for a ¼ acre plot (Plot # 231) in a project named “Garv” in Raigad, Maharashtra for which a total of INR 9, 80, 000 was paid in 7 instalments starting 07/05/2012. A sale deed was signed on 21/08/2015 and the registration was promised within 36 months plus 6 months grace period failing which an interest at prevailing prime lending rate plus 2% surcharge is supposed to be paid to us.

Our second investment with Expat Properties was for 2 plots of 1500 sq. ft. each (plot # 67 and 68) in a project called “Paradise View” (which was later renamed Mountain Dew -2) in Theni, Tamil Nadu. Separate payments of INR 1, 25, 000 and AED 21, 000 (4 instalments approx. INR 3, 25, 000 Total INR 4, 50, 000) were made starting 25/08/2013. A Special Power of Attorney was also made on 25/02/2014 for the registration of the plot. However, there were no further developments. In case of their failure to complete the project within 36 months as per the agreement they are liable to return the money with interest at prevailing prime lending rate plus 2% surcharge.

Our third investment with Expat Properties was for 4 plots of ¼ acre each (Plot 29, 30, 42 and 43 approx. 10, 890 sq. ft.) in a project called Crest in Bagepalli, Karnataka for which a total payment of INR 31, 00, 000 was paid in instalments starting from 04/02/2014. In case of their failure to complete the project within 36 months as per the agreement they are liable to return the money with interest at prevailing prime lending rate plus 2% surcharge.

Our fourth investment with Expat Properties was for a 2 BHK flat in “The Wisdom Tree Community – Taloja, Maharashtra for which a total of INR 16, 92, 000 for which instalments were paid from 4/02/2014. In case of their failure to launch the project by April 2015 (including 6 months grace period) as per the agreement they are liable to return the money with 12% compound interest.

In total around INR 62 lakhs worth of investments have been made since 7/5/2012 with no returns whatsoever till date and none of the projects have been completed, registered or handed over. They have also closed down their offices in Dubai, Bangalore and Bombay. There are no responses to mails and no staff is reachable. Recently I had received a mail stating that the construction of the Taloja project had been handed over to “Empire Reality”. However, upon contacting their representatives, I was told that the MOU has still not been approved by RERA and they cannot commit a time frame.

All these years I have been waiting patiently giving them the benefit of doubt, but now I have serious concerns about their intentions. Since none of the projects have been completed / handed over in the past 10 years, I do not wish to wait any longer. I want them to return my money with the due interest as per agreement.

I would highly appreciate if you could intervene and help us recover our hard-earned money.

Praveen Raj
Customer id: C1202369
Was this information helpful?
No (0)
Yes (0)
Expat Properties customer support has been notified about the posted complaint.
Complaint comments 
Share
Tweet

Post your Comment

    I want to submit Complaint Positive Review Neutral Comment
    code
    By clicking Submit you agree to our Terms of Use
    Submit
    Expat Properties
    customer care contact
    Customer satisfaction rating Customer satisfaction rating is a complex algorithm that helps our users determine how good a company is at responding and resolving complaints by granting from 1 to 5 stars for each complaint and then ultimately combining them all for an overall score.
    Read more
    5%
    Complaints
    468
    Pending
    0
    Resolved
    24
    Expat Properties Phone
    +91 80 4911 3838
    +91 86 0500 7777
    Expat Properties Address
    2nd Floor, Sobha Pearl, No.1, Commissariat Road, Bengaluru - 560025, Karnataka, Karnataka, India
    View all Expat Properties contact information