Mantri Developers Complaints & Reviews

Mantri developers offered buy back scheme with double your money in 3 years is fraud and cheating by mantri developers.

Mantri developers assures to double your investment in just three years on investment for mantri webcity. This one of its kind offer by a leading real estate firm which is assuring 100% roi as a value add to its customers.

Suppose one wishes to buy a home in mantri webcity worth rs. 60 lacs – 20% of the total value of the home which in this case is about rs. 12 lacs will be the customer’s contribution the balance amount of rs. 48 lacs will be paid through a bank loan. On the bank loan customer does not have to pay any interest till 3 years and on the customer’s contribution i. E rs. 12 lacs, mantri developers will assure 100% return, which is rs 24 lacs by march 2017 and mantri will close the back account.

I booked a flat 2 bhk, 950 sq ft in h block (H1106). Its been over 4 years now. I am forced to pay emi to punjab national bank. Mantri did not stop my emi (Bank account) and also didn't double the money which they promised earlier.

I have enough emails sent to them. So many calls went unattended by mantri.

I had referred family and friends earlier and mantri cheated loyal customers like me. Never get into deal with mantri

I have registered 3 bedroom apartment 14th floor of k block and included paid for private terrace and twin parking.

Since l block was under construction they have allowed one covered parking in ground floor and one parking in basement as temporary.

Almost 6 years over my temporary covered parking must be converted as permanent and sign board to be fixed in either any vacant parking in ground floor or basement.

Rajasekar
K-1403

I had invested in mantri blossom in benguluru in 2015 under a buy back scheme provided by the builder. Under the buyback scheme i need toinvest 10% of the property cost and after 36 months mantri will refund back double of my equity investment in my property. I will take a loan from pnb housing finance, where the preemi on the loan will be paid by mantri for the 36 months. At end of 30 months i need to inform the builder of my intention to exercise the buy back which i did through my email to mantri on 15th september 2017 which i get a confirmation from mantri on 16th september 2017 that they acknowledge the mail and do the needful. I followed up with mantri on regular basis as to whether any formalities to be completed in regards to the buy back, they revert back on 17th october 2017 with a document which i need to sign. I sign the document and send it to mantri. I followup with mantri to confirm with them if any thing else is required, on 14th november they revert back stating nothing else is required.in april 2018 i followup with mantri to check the status of the refund of investment under buy back agreement, till today they have not refunded my investment. They have stopped paying the preemi on the loan which i am bearing. They are pushing me to keep the property which i have refused and they are delaying the refund of my money. Need your help to sort this out as the emi that i am paying is a burden to me. Please help.
I could not upload the agreement and email communication as it is not accepting in the upload

I bought a flat at mantri serene. Mantri developers offered the flat at a "double your investment in 3 years" buyback scheme. The scheme also included reimbursement of pre-emi for the first 3 years.

After 3 years,
* mantri developers have not reimbursed pre-emi for several months. Current oustanding pre-emi for my account is over ₹ 5 lakhs.
* as 3 years have passed, i requested mantri developers to buyback the unit. They have been unresponsive and no actions.

Multiple follow ups with the builder's property managers, and even director, marketing did not help.

I need/request mantri developers to
* release all my pending pre-emi reimbursements
* buyback the unit and return the promised buyback ₹

I had opted parcel 2 with commitment for closure in march-17.
So far, mantri is due with 17 months of pre-emi and pnbhfl is not owing any responsibility. When i invested in this apartment, only pnbhfl was approved to issue 100% loan. This looks like complete corporate fraud where neither builder nor pnb is taking any responsbility.

Various proposals were discussed including top head snehal mantri but none of commitment is executed.
It was smarter way to take our hard earned money but its time that mantri developer should consider those customers who supported them beyond their capacities.

I had booked a flat in mantri serenity. Was supposed to receive the deposit amount after 3 years which i haven’t received at all. I have been trying to follow up in the site office also and even in ho.
Flat number o-2601.
You must be having all other details associated with the flat number.
Kindly respond on my email or call immediately.
And do provide a timeline asap...

Mantri sold us a flat (R1601) in their webcity project in 2015 with a three year buy-back clause and with an agreement to pay the pre-emis for these 3 years.

Unfortunately every single pre-emi paid to us has been delayed and today we have a backlog of over 12 pre-emis due to us by mantri.

Inspite of daily following up with mantri there is nothing but empty promises from their side. Kindly help in resolving this.

Mantri navarathna project was delayed by more than 2.5 years and per contract they have to provide a payment for delay in possession. They have calculated the amount and sent us the letter dated june 2, 2015. It is more than 3 years, they are yet to send the payment to us. Very very poor experience with this builder.
They owe me rs.138230. No firm date provided until now.

I have a penthouse (K1204) in mantri alpyne, bangalore. Full payment towards the apartment has been made to mantri developers more than a year ago.
Despite repeated request mails and meeting with the concerned officials at their head office on vittal mallya road, still they have not registered the property in my name.
I have been having a harrowing and the worst experience with the builder after paying the entire amount to them.
Before buying the apartment i had had high regards and goodwill towards the mdpl. It is your fault, mdpl that you have lost the this goodwill because of your complacency and negligience in my case. I have suffered a lot of physical and mental agony because of you.
No body from the company is willing to help and register the apartment.
I am requesting the highest officials in the company to take notice and get the apartment duly registered in my name at the earliest.
I have been very prompt in paying whenever the demand has been raised by the builder.
I am requesting that the concerned officials take note of the troubles that i have undergone and get the my apartment registered in my name at the earliest.

I have paid for webcity and they have not settled my pre emi as promised they paid only for 12 months and now after buy back confirmation they have not paid me emi nor have they settled my full amount paid for the apartment it is more than two years now and they representative are very rude and aggressive and full of false promise no managers to assist you. It is beyond my patience level now

Bought an under construction apartment in mantri serenity on kanakapura main road under the pre-emi reimbursement scheme. The premise of the scheme was that mantri would reimburse the interest portion of my emi on a monthly basis. Soon they started slipping by a month, then by 2 months, then by a quarter. Now they have completely stopped! I have not received any reimbursement for the past 9 months! I went and spoke to the customer relationship team (Kavitha, mahesh, naveed) but all they do is make false promises. The standard reply is that you will get it on or before the 15th of this month. This of course never happened. Now i am stuck and cheated and as a result moving towards legal action.

At this rate am unsure of and will not advise a mantri property to anybody. They are all a bunch of people who make false promises and cheat people.

*buyer beware*
Do not fall prey to mantri's pre-emi schemes.

The previou complaint that was marked resolved by MAntri without actually doing anythng can be seen here: https://www.consumercomplaints.in/mantri-developers-mantri-developers-pre-emi-fr...⇄

Your CRM team has not reached out to me. Even if they do I know exactly what they are going to say, they are going to assure payments of a few installments on or before the 15th of next month. This is nothing but a cheap tactic to buy time and silence people.

I am not falling for it again, I am settling for nothing less than full repayment else please expect a legal notice from my side.

You guys signed an MOU which has payment dates that need to be adhered to.
Has Mantri gone bankrupt and cant even close off amounts like this or does it not care about its customers.

Pleas treat this as formal written 1 month notice to address my grievances as pointed out before I approach the court.

I booked in Mantri Webcity Parcel2 in 2014 with possession date as July 2016 but from the day i booked, they keep on shifting possession date from July 2016 to Mar 2017, Oct 2017, Apr 2018, Sep 2018 and Now Mar 2020. Construction activity in parcel 2 is also completely stopped from last 6 months so Mar 2020 is also looking impossible. Mantri Developer is keep on doing lie promises and penalty for delay is peanut.
They have stopped...

I have an apartment in Mantriwebcity which I bought under 80 20 scheme.They paid the interst for 2 years and then stopped.After sending 100s of emails and making 1000 phonecalls they released a month's payout..Every 1 month their staff changes and you have to explain the same story
It is extreme now, there is nobody picking up the calls or responding to emails and the last I heard from one of the staff was that sir we are not getting salary forget about your emi.Still we will try
Last 6 months backlog has made my finances ridiculous..My credit rating is severely impacted..I am sick of Mantri and the project delivery date is still not clear
Worst decision of my life..Looks like they are still advertising 80 20 scheme..Please don't be fooled..

I have an apartment in Mantriwebcity which I bought under 80 20 scheme.They paid the interst for 2 years and then stopped.After sending 100s of emails and making 1000 phonecalls they released a month's payout..Every 1 month their staff changes and you have to explain the same story
It is extreme now, there is nobody picking up the calls or responding to emails and the last I heard from one of the staff was that sir we are not getting salary forget about your emi.Still we will try
Last 6 months backlog has made my finances ridiculous..My credit rating is severely impacted..I am sick of Mantri and the project delivery date is still not clear
Worst decision of my life..Looks like they are still advertising 80 20 scheme..Please don't be fooled..

This is about mantri developers serenity project in bangalore south kanakapura road, they started in 2015. We had booked the flat in 2015 under pre-emi scheme where mantri had promised to pay to pre-emi to pnb bank on monthly basis until the possession. Initial one year they paid the pre-emi and after that they have stopped the paying the pre-emi but pnb is behind customers and even sending legal notice to customers. Mantri officials in-charge of the project is responding the emails or phone calls. Last 14 months the pre-emi amount is due and visited multiple visit to mantri office but no use. Always they false promise that tomorrow and next will clear the due. Same story from last 14 months. Please be cautious committing with this builder as they are talking to the customers once the booking is made. They are pass bug between them and none of senior officials from mantri is reachable to answer our queries..

I bought an under construction apartment in mantri serenity on kanakapura main road under the pre-emi reimbursement scheme. The premise of the scheme was that mantri would reimburse the interest portion of my emi on a monthly basis. Soon they started slipping by a month, then by 2 months, then by a quarter. Now they have completely stopped! I have not received any reimbursement for the past 9 months! I went and spoke to the customer relationship team (Kavitha, mahesh, naveed) but all they do is make false promises. The standard reply is that you will get it on or before the 15th of this month. This of course never happened. Now i am stuck and cheated and as a result moving towards legal action.

At this rate am unsure of and will not advise a mantri property to anybody. They are all a bunch of people who make false promises and cheat people.

*buyer beware*
Do not fall prey to mantri's pre-emi schemes.

As most of the people mentioned about frustration with mantri, they are in huge loss and hence cheating people like anything. Project has been delayed for more than 2 years. Pre-emis are not being paid. Standard answer from one lady mehvesh is "delayed due to unknown reason" and they will pay asap. Asap means many years not even one year. Hence i request public not to invest in mantri in order to get out of this mess. Invest in mantri if you want to get into problem. People told me earlier before investing in mantri. I should have not invested. I hope this will be helpful for other people

Hi,

I am also victim of mantri web city like so many others.

I have started forming a group and together we all can file case in rera and consumer court that will have more impact.

If your issues have not been resolved yet then write the details on this email id [protected]@gmail.com to join together for this fraud cheating by mantri.

Regards,

The Mantri Alpyne project located at Uttarhalli Bangalore was supposed to delivered by June 2014, but was delayed and finally possession was declared by January 2016 (and in my case by March 2016). However the delayed compensation and interest on early registration is not yet given to the Mantri Alpyne apartment owners who have bought apartments in this project

People are following up on continuous basis but no fruitful action taken by Mantri developers. Only response from Mantri developers (FOR THE PAST 2 YEARS!) is a new date of payment promised every time, but payment never done.

This kind of service from an prestigious builder like Mantri is simply not acceptable.

Also expecting additional interest on 1.5 years delay from Mantri Builders.

Filing this complaint against them so that appropriate action can be taken. Consumer forum india please do the needful.

And just to be clear, this has been brought to the attention of Senior Mantri leadership at the highest levels, including Kusum (Kusum.[protected]@mantri.in) - multiple times.

I made a rera complaint. I’m waiting for a response.
Complaint ref cmp/171128/0000276.
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As expected the crm team will never respond and the sales team will give you all kinds of rosy pictures about the future of mantri webcity and how amazing it is going to be.
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Mantri is coming out with all kinds of offers and options to get what ever money that they can get to stay afloat. If you’ve noticed, now they only want 1% down payment and you will never have to worry again till the handover. Yeah right.. Best of luck with that.
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Shortly you’ll see that mantri will file for bankrupcy and then all the projects that are in progress will come to a halt and then legal action will start. Mantri customers will end up spending decades to get something back and that too if they approach the courts and consistently follow up