Indiabulls Real Estate — Most unprofessional and not trustworthy company

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.