Srb Dwellings — retirement home

Address: Chelekere, Coimbatore, Tamil Nadu, 641023

Website: www.sreenandanam.in

Dear sirs

This is on advance taken of rs.11.40 lakhs for a retirement home advanced from october 2015, costing about rs. 30 lakhs that time, at srb retirement dwellings co, coimbatore, chettippalayam.

As i wanted to withdraw from the project due to my financial incapacity, i need the money back with bank fixed deposit interest from oct 2015 to oct 2019 for rs. 11.40 lakhs. I am only asking average fixed deposit bank interest and not any high rate as i had broken my fixed deposits and given money to them.

But the promoters has neither given any commitment, post - dated cheque or letter mentioning when they may return my money!

History from 2015 october : the promoters had come for an exhibition in south bangalore.
I had plan to take a small 1 bhk villa, on a piece of small land. The cost was informed to me, approximately, as rs. 30 lakhs, including land cost of rs. 7 lakhs. So, the construction cost, for about 800 square feet, was informed to me, as at about rs. 3, 610 per square feet.

That time, one muraleedharan, ca and 1 of the promoters of srb retirement dwellings, coimbatore, took all papers from me for bank loan from sbi, but he never did anything! I was waiting to hear from them but only when i went there in oct 2017 i knew they did nothing.

The promoters asked to arrange bank loan for balance. I tried my best and got loan from dhfl in july 2018. But dhfl told that builders have not taken dc conversion and other permissions and so cannot disburse.

Customer service/responses etc: for the money taken for land, the registration was never done by the promoters. They only wanted more and more money, and never agreed to give any full set of documents of land, for legal opinion or any such thing. I found them to be more money minded, without any objective of customer – service.

2018 july, august & september: i applied to dhfl (Dewan housing finance corporation ltd), through aagey.com, a consulting firm, who were doing such activities. They had taken all papers and processed my application. I was sanctioned a loan on 2018 july or so, without any issue from my side. But, they informed that, from the project side, they had not taken necessary approvals, like dc conversion (Conversion of agricultural land to non-agricultural land) etc etc. This delayed the loan disbursal.

In aug 2018, due to kerala floods, our ancestral house was spoiled beyond much repair. I had to spend some money to repair my portion and shift some recovered old wood furniture etc. Due to this, i needed urgent money and hence, informed the promoters, that, i wanted some urgent money. They were not preparing to give even re. 1 and told that they don’t have money!

I decided that, it is better to withdraw later from the project, if my financial commitments does not allow. Still, i continued.

I was under much pressure in office on various projects/assignments, and also due to illhealth of my wife for few months, and hence, could not follow up on loans, till june 2019.

I got a loan sanctioned in sometime in aug 2019. But, i was not prepared to take large commitments and had limited budget.

Hoping to get a deal within my budget, i went in oct -2019 to coimbatore, with the objective of getting a piece of land registered in my name. I had informed the promoters about this, sometime towards end of sep.2019.

I found that, the new rates of construction, was too high and was not within my budget. They were also not prepared to consider any land registration, as they told, they were wanting to know, which site i wanted to take, and the construction cost associated with it.

Oct. 2019: i finally decided to withdraw finally from the project, due to the following reasons :

A. The promoters never were interested in keeping their word of registering any land in my name, although i had given full money for land, as early as october 2015 itself.

B. They never were responding favourably, and wanted only more and more money, saying, they don’t have enough funds for the project, every time. I cannot afford to fund them for the project, and can fund only my house!! It is illogical, to ask customers, to fund a big project like this, with additional money, in addition to their house cost!

C. They kept on increasing the rates of the house/villa etc frequently, as they were diverting funds of customers for the project

D. The service was very bad, with only a marketing guy and the promoter talking to me very impolitely, and co-ercing me or forcing me always to pay more and more money!

E. When i wanted urgent money, after kerala floods etc, they were not even prepared to give part of my own money, for few months! And they said, they cannot give even rs.1 for at least 6 months!! This is very cruel and exploiting innocent customers, with hard-earned savings!

The promoters had advertised in a brahmin - magazine, saying, the project is for retired old brahmins, with veg. Food and similar environment etc. But, i see that, they are highly selfish, exploitative, and money-minded, without any service - motive!

Their behavior and attitude etc, has resulted in much tension and agony to me and my family, since they were co-ercing to take more money, without keeping up any of their promises, and thus exploiting innocent middle-class citizens, with hard earned money, like me