IndiaBulls Complaints & Reviews

I bought a flat in the Indiabulls Sierra Project. I have made an initial payment of 20% of the flat cost to initiate the agreement.

The sale agreement has many unfair trade practices which are clearly against the Indian law. It is completely in favor of the promoter and has no rights to protect the buyer. I have requested to change the sale agreement but the customer care of India Bulls have not even replied to my emails. They are just ignoring the email and asking for subsequent payments. I have provided an option to the Indiabulls for a mutual exit in order to have a smooth separation which they have not responded. They are not even handing out the original agreement to show the lawyer. Some of the unfair trade practices are as follows:

1) The promoter can increase the number of floors if he wishes too. During the initial sales, the number of floors are clearly mentioned
2) If the buyer delays the payment there is 18% interest rate per annum. If the promoter delays then there is no penalty
3) All parking spaces, stilts, and other apartments and spaces including any additional or unconsumed Floor Space Index will be available and will remain the property of the Promoter. All other spaces in the Schedule Land shall remain the property of the Promoter alone as herein stated. It should be handed over to the society of the flat owners as they are paying for the super carpet areas.
4) All the clauses stated in the contract, final decision of the promoter shall be conclusive and binding upon the purchaser. The buyer has no protection when there is an issue
5) There is no minimum warranty period after the work has been completed whether they have built the flat according to the specification. The promoter does not take any responsibility but the ownership
6) That if there is any alteration/modification/change in the Super Area of the said Apartment or a change in specifications which would give rise to any additional cost, the Promoter shall be entitled to receive and recover the same from the Purchaser and the Purchaser shall be required to pay on demand the same to the Promoter, failing which the Promoter shall be entitled to charge interest @18% p.a. and delay the handover of offer for possession of the said Apartment.There is no protection for the buyer, the promoter can do whatever he likes. He can change plan and ask for more money
7) If due to any change in the layout/building plan, the said Apartment becomes preferentially located, then the Purchaser shall be liable and agrees to pay the applicable Preferential Location Charges as stated in the payment plan without any demur. Why should the buyer pay additional amount if there is a change of the layout or building plan?
8) That the Promoter is entitled to construct number of building/s having number of wings on various portions of the Schedule Land. The Purchaser has been informed in advance that in order to exploit entire commercial potential of the Schedule Land the Promoter is not in a position to allow anybody to put any boundary and/or subdivision or otherwise of any nature whatsoever so as to prevent the Promoter from development of the Schedule Land in the manner mentioned under these presents. It means there is no limit to the promoter to use the common area to build additional building.
9) The promoter is still the owner of the club house and other common areas where the flat owners are paying for it. The promoter does not want to do a handover even after the project is completed.

Almost all the clauses are in favor of promoters, may clauses are against the laws. The buyers are forced to sign the agreement. It is even considered as a cheating.

The company has smartly setup a subsidiary for Indiabulls in order not to have bad name to the main Indiabulls.

Hi, I too am a victim of the Indiabulls. It's really most unprofessional and not trustworthy company. We should not leave them like this. We will have to teach them a lesson. Please let me know how do I contact you for further action plan.

Raj Sadhanala clealry highlighted the problem. I also booked 2 flats and victimised.

I totally agree with you anusha, even I was very skeptical to invest here but when I visited their office and went through the whole construction it absolutely matched my requirement and budget

Finally i have come across some worth reading reviews on this property which is speaking about the actual state of the projects by the company

hey anusha, even i had booked my apartment here and I m eagerly looking forward to its completion.

can anyone tell me where can i get more details on this property?

Hi anithaa, according to my personal experience it is best to visit their website for accurate details on the property and its amenities.

I agree with Gaurav, I had visited their website during my property selection and later visited their office for more detailed understanding on the project. Also, one more important aspect is the market value of the property as compared to its other competitor projects.

hello anusha, firstly very nice and detailed review shared by you. I was thinking since very long to invest here and now m quite sure to ahead with the project. Once again thanks! :)

I too compared the price of Indiabulls Blu with other competitor properties but the amenities and the services offered by them at the mentioned price range is very appealing for investors like me.

Hey, I m planning to invest in their other projects outside Mumbai any suggestions?

hey manoj, any specific city you are looking out for? I had recently invested in their Centrum project in Hyderabad.

Yes, I want suggestions regarding their projects in Gurgaon, Delhi.

One indiabulls, enigma and centrum park these are some of their projects in Gurgaon city which you can consider. :)

hey manoj, i have recently invested in their Enigma property in Gurgaon and got the deal at great market price, I would like to recommend the same to you too.

regarding amc charges for the life time free account

i opend trading & demate account with indiabulls with lifetime free amc. but now they charged 450 rs pa. what i have to do . plz help me

Hi

Can you please share your concern to us. We also applied for the 4 BHK flat in centrum park and want to take up the matter at our end with National Consumer Disputes Redressal Forum and Competition commision of India.

We are only looking buyers of the same project and facing similar issues like:
1. Delay in possession,
2. Demand o[censored]nnecessary and unwanted extra payment,
3. Inadequate provision in the contract for delay of allotment,

You can email me at [protected]@hotmail.com.

We will really appreciate, if you can share contacts of more such buyers.

Thanks

Hi Pooja,
I am in the same boat, but Im curious to know if they asked for original reciepts and documents for refund processing or photocopies. I am wary of giving away any original documents.

Dear Respected Ma'am/Sir,

I am Vinod Dutt was enployed with Indiabulls Housing Finance Limited. I had resigned from my job before three years ago with follow up of Exit process but I have yet not received my Pending Salary and Incentive. Moreover I am Following regular basis with Indiabulls Team as showing in trail mail but they are not responding.

Kindly Suggest.


Warm Regards
Vinod Dutt
[protected]
[protected]@gmail.com
[protected]@in.com

[protected] Forwarded message[protected]
From: Vinod Dutt <[protected]@in.com>
Date: Sat, Jan 3, 2015 at 10:37 AM
Subject: Re: Re: Re: Re: Re: Re: Re: RE:'SR=[protected]' RE: Re: Fwd: FW:_Your_resignation_(RES014732)has_been_received.
To: [protected]@indiabulls.com, Business HR Mortgages <[protected]@indiabulls.com>
Cc: vinodduttsharma <[protected]@gmail.com>

Dear Team,

EVEN AFTER MANY REMINDER YOUR SERVICE ATTITUTE IS JUST Disgusting SINCE LAST THREE YEARS.
I NEED RELIVING LETTER AT ANY COST AND PLESAE LET ME PROCESS FOR THE SAME.


Thanks and Warm Regards
Vinod Dutt
[protected]
[protected]@in.com

[protected] Original message[protected]
From:"Vinod Dutt"< [protected]@in.com >
Date: 11 Dec 14 10:43:36
Subject: Re: Re: Re: Re: Re: Re: RE:'SR=[protected]' RE: Re: Fwd: FW:_Your_resignation_(RES014732)has_been_received.
To: [protected]@indiabulls.com; Business HR Mortgages <[protected]@indiabulls.com>
Dear Team,

After Passed few years My team is not responding JUST SURPRISED???

MAY I EXPECT ANY FRUITFUL REVERT FROM YOUR SIDE??? FURTHER I WAS NOT EXPECTING SUCH FOUL BEHAVIOUR FROM MY EXISTING COMPANY. WHERE I HAVE SEPNT MY GOLDEN TIME OF MORE THAN TWO YEARS.


Thanks and Warm Regards
Vinod Dutt
[protected]
[protected]@in.com

[protected] Original message[protected]
From:"Vinod Dutt"< [protected]@in.com >
Date: 3 Dec 14 17:47:13
Subject: Re: Re: Re: Re: Re: RE:'SR=[protected]' RE: Re: Fwd: FW:_Your_resignation_(RES014732)has_been_received.
To: [protected]@indiabulls.com; Business HR Mortgages <[protected]@indiabulls.com>
Dear Team,

Waiting for your Revert.


Thanks and Warm Regards
Vinod Dutt
[protected]
[protected]@in.com

[protected] Original message[protected]
From:"Vinod Dutt"< [protected]@in.com >
Date: 28 Nov 14 17:57:13
Subject: Re: Re: Re: Re: RE:'SR=[protected]' RE: Re: Fwd: FW:_Your_resignation_(RES014732)has_been_received.
To: [protected]@indiabulls.com; Business HR Mortgages <[protected]@indiabulls.com>
Dear Team,
Can i hope any revert from your side?

Thanks and Warm Regards
Vinod Dutt
[protected]
[protected]@in.com

[protected] Original message[protected]
From:"Vinod Dutt"< [protected]@in.com >
Date: 25 Nov 14 12:22:33
Subject: Re: Re: Re: RE:'SR=[protected]' RE: Re: Fwd: FW:_Your_resignation_(RES014732)has_been_received.
To: [protected]@indiabulls.com; Business HR Mortgages <[protected]@indiabulls.com>
Dear Team,

Kindly Update.
Thanks and Warm Regards
Vinod Dutt
[protected]
[protected]@in.com

[protected] Original message[protected]
From:"Vinod Dutt"< [protected]@in.com >
Date: 15 Nov 14 13:44:05
Subject: Re: Re: RE:'SR=[protected]' RE: Re: Fwd: FW:_Your_resignation_(RES014732)has_been_received.
To: [protected]@indiabulls.com; Business HR Mortgages <[protected]@indiabulls.com>
Dear Team,

Kindly Update.


Thanks and Warm Regards
Vinod Dutt
[protected]
[protected]@in.com

[protected] Original message[protected]
From:"Vinod Dutt"< [protected]@in.com >
Date: 10 Nov 14 14:05:17
Subject: Re: RE:'SR=[protected]' RE: Re: Fwd: FW:_Your_resignation_(RES014732)has_been_received.
To: [protected]@indiabulls.com; Business HR Mortgages <[protected]@indiabulls.com>
Dear Team,
My SAP code was 180112.

Thanks and Warm Regards
Vinod Dutt
[protected]
[protected]@in.com

[protected] Original message[protected]
From:"Resignations"< [protected]@indiabulls.com >
Date: 7 Nov 14 19:42:55
Subject: RE:'SR=[protected]' RE: Re: Fwd: FW:_Your_resignation_(RES014732)has_been_received.
To: Business HR Mortgages <[protected]@indiabulls.com>
Dear Team,
Kindly provide the sap code.
Regards,
Resignation Team
-----Original Message-----
From: Business HR Mortgages ([protected]@indiabulls.com)
Date: Thursday, November 06, 2014 11:43 AM
To: Resignations ([protected]@indiabulls.com)
Cc: Vinod Dutt ([protected]@in.com)
Subject: RE: Re: Fwd: FW:_Your_resignation_(RES014732)has_been_received.
Plz check RES014732 reference details…..
Regards,
Mortgages Business HR Team
================================================================================...⇄
Business HR/IHFL | Contact No:- [protected],[protected], 81057, 81351
Address- IHFL, 1st Floor, Indiabulls House, Plot no. 448-451, Udyog Vihar, Phase-V, Gurgaon, Haryana-122001
================================================================================...⇄
From: Vinod Dutt [mailto:[protected]@in.com]
Sent: Monday, November 03, 2014 5:11 PM
To: hr_homeloans
Subject: Re: Re: Fwd: FW:_Your_resignation_(RES014732)has_been_received.
Dear Team,
Can i hope for any revert from your side?

Thanks and Warm Regards
Vinod Dutt
[protected]
[protected]@in.com

[protected] Original message[protected]
From:"Vinod Dutt"< [protected]@in.com >
Date: 16 Oct 14 13:12:46
Subject: Re: Fwd: FW:_Your_resignation_(RES014732)has_been_received.
To: "hr_homeloans" <[protected]@indiabulls.com>

Dear Team,
Please update.

Thanks and Warm Regards
Vinod Dutt
[protected]
[protected]@in.com

[protected] Original message[protected]
From:"Vinod Dutt"< [protected]@in.com >
Date: 27 Sep 14 06:06:29
Subject: Fwd: FW:_Your_resignation_(RES014732)has_been_received.
To: "hr_homeloans" <[protected]@indiabulls.com>
Dear Respected Team,
I have yet not received Relieving Letter. Kindly Update.
Regards
Vinod Dutt
[protected]
________________________________________
From: Parvinder Kaur [mailto:[protected]@indiabulls.com]
Sent: Thu 10/25/2012 5:15 PM
To: Nand Lal Pal
Cc: Vinod Dutt
Subject: FW: Your resignation (RES014732) has been received.
Dear Nand,
Dispatching you the ECF form of Vinod Dutt from today’s courier.
Thx & Regards,
Parvinder Kaur (125621)
Indiabulls Financial Services Ltd.
Shakti Tower, Mall Road
Above Axis Bank
Karnal 132001
[protected]
________________________________________
From: Vinod Dutt [mailto:vinod.[protected]@indiabulls.com]
Sent: Tuesday, October 23, 2012 7:01 PM
To: 'Parvinder Kaur'
Cc: 'Niharika G Bhardwaj'; 'Ravinder Arora'; 'Vikas Bhatnagar'; 'Deepak Bhardwaj'; [protected]@indiabulls.com; [protected]@indiabulls.com
Subject: RE: Your resignation (RES014732) has been received.
Dear Madam
As discussed I am sending ECF Form, My Visiting Cards and Employee Identity Card through Overnite Express courier POD “[protected]” as attached.
Kindly do the needful on urgent basis.
Thanks & regards
Vinod Dutt - Credit
Indiabulls Housing Finance Ltd
Sheela Shoppee, Opp. Mid Town Hotel, Above Yes Bank, Panipat - 132103 (HARYANA) ï€¨ï€ [protected], [protected].
________________________________________
From: Vinod Dutt [mailto:vinod.[protected]@indiabulls.com]
Sent: Thursday, October 18, 2012 5:53 PM
To: '[protected]@indiabulls.com'; '[protected]@indiabulls.com'
Cc: 'Niharika G Bhardwaj'; 'Ravinder Arora'; 'Vikas Bhatnagar'; 'Deepak Bhardwaj'
Subject: RE: Your resignation (RES014732) has been received.
Dear Team
My Last working day will be 01/11/2012. Kindly do the needful accordingly.
Thanks & regards
Vinod Dutt - Credit
Indiabulls Housing Finance Ltd
Sheela Shoppee, Opp. Mid Town Hotel, Above Yes Bank, Panipat - 132103 (HARYANA) ï€¨ï€ [protected], [protected].
________________________________________
From: [protected]@indiabulls.com [mailto:[protected]@indiabulls.com]
Sent: Saturday, October 13, 2012 6:00 AM
To: vinod.[protected]@indiabulls.com
Subject: Your resignation (RES014732) has been received.
Dear Vinod Dutt,

Your resignation (RES014732) has been received and clearance process has started. Full and final settlement will be done once HR receives NOCs from all departments.

Click here to track your NOC Status.
You are requested to sign the ECF on your last working day and send the same to HR Department along with your Identity card and visiting cards issued if any.


Thanks,
BPM Support
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Hi, Did they ask for all original documents and payment reciepts?

it appears that the developer i.e. "BDI Group" and indiabulls both have duped you by concealing facts at the time of purchase, rather misguided you with incorrect details of subvention arrangement between them.


this is very common, dubious developers hide things at the time of sale and later customers have no option but to pay or run from one party to other or involve govt. departments or courts and waste precious time and energy.

BDI Group . . . . . Sunshine City, Bhiwadi

There are many other issues with small and unorganised developers.


A customer puts in his hard earned money in their projects looking forward to a decent house, but buys endless troubles and harassment for their life.


In their greed, even the financial institutions that fund the projects, hide facts from the customer. Everyone be very careful of going through every detail while buying a house from a small developer.

stay away for such organisation.

Indiabulls Real Estate are cheats

These guys have defrauded customers in Chennai, Panvel projects. Customers beware! The following article is typical of their fly by night operation.: http://indianexpress.com/article/cities/mumbai/nothing-much-to-write-home-about/...⇄