I would like to formally raise a concern regarding my recent experience with the Sobha Developer Project – Madison Heights Town Park Phase 2 (W-W4), 33rd Floor, Unit 1334.
In the first week of December 2025, my wife (Ashwini D) and I (Deepak Kumar) were approached and subsequently onboarded to invest in the EOI project. As per discussions with the Relationship Managers, Mr. Richard Thomas ([protected]) and Mr. Shashidhar Gowda ([protected]), we were informed that we would need to pay 20% of the total amount (₹54 lakhs), with 6% (₹16 lakhs) to be paid upfront and the remaining 14% to be disbursed immediately by Sobha’s associated banker. We were also informed that the EOI would remain paused until August 2027.
Based on these assurances, I made payments of ₹9 lakhs on 18 December and ₹7 lakhs on 22 December, totaling ₹16 lakhs (6%). However, even after multiple follow-ups and coordination involving L&T Finance, Godrej, ICICI, HDFC, and external bankers, the disbursement process faced repeated complications and delays.
Subsequently, on 7 February, I was informed that an additional 4% (approximately ₹11 lakhs) must be paid to proceed further and finalize the agreement. This new demand was never part of the original communication and has caused significant distress and financial strain.
This entire experience has been highly unprofessional, marked by inconsistent communication and changing narratives. I have already paid interest on the amount arranged for this investment, and the unexpected additional financial demand is unacceptable.
I have initiated a request for cancellation. While I believe compensation would be justified under the circumstances, my immediate request is for a full refund of the ₹16 lakhs paid, without any cancellation charges.
I request your urgent intervention and resolution of this matter at the earliest.
Sincerely,
Deepak Kumar
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