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I totally second to what you are saying even I have been in this line for quite few years and how the industry functions. This is a real tough situation for the AN Buildwell's investors. Cheaters like Sunil Gandhi and SK Hooda have used investors hard-earned money for their private use and now absconding from the police. I have seen that few of their clients have been still crying in the hope of getting their first house of life.
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This is for sure a tough situation for the AN Buildwell's investors. How cleverly Sunil Gandhi and SK Hooda have fooled the innocent consumers and used their money for their personal projects. There are many cases reported against them but I don't think investors have received any relief yet. Quick action required against them.
I can't believe how inhuman one can be. The promoters Sunil Gandhi and SK Hooda didn’t even bother to update the investors when the construction had stopped. They cheated innocent investors, all the investors should stand together against them.
As now Delhi BJP chief Manoj Tiwari has assured buyers that he will look into the matter and will talk to the concerned authorities against Sunil Gandhi and SK Hooda. We can hope for fast action.
Let's see what Manoj Tiwari will do in Sunil Gandhi and SK Hooda's case. We need quick action against these cheaters.
It had been many years and innocent investors are still waiting for justice and fair enquiry. Hope Manoj Tiwari will do something against Sunil Gandhi and SK Hooda.
Let's see what he does against Sunil Gandhi and SK Hooda. Also EOW, which is investigating in the matter, is choosing to overlook in an attempt to protect promoters.
While it's easy for buyers to avoid fraud risks completely, but at least with the help of proper channels, they can minimize the risks. In Sunil Gandhi and SK Hooda's case buyers failed to project the risk and now crying. We all want stringent action against them.
In recent months, several cases have been filed against builders across the country and we have seen that govt is taking action against them. We want strict action against Sunil Gandhi and SK Hooda too.
We all want fraud builders like Sunil Gandhi and SK Hooda to be punished. Buyers want justice.
Ashish Bhalla Viridian RED is the real estate division of Viridian Group, run by Mr. Ashish Bhalla. In the first phase of WTC Noida, which is complete and operational, two eight story towers are absorbed by Vivo, a Chinese mobile company. Two towers, Tec 1 and Tec 2 these are fully operational and have multi-tenant offices, serviced offices and retail spaces. The first phase is complete and is 30% of the total structure. The second phase of construction of WTC is in progress.
Showman of ponzy schemes: Ashish Bhalla
What is a ponzy scheme ? “Ponzy schemes are the schemes floated in general public with
the intention of conducting fraud and luring customers with the offers. Pays profits to
earlier investors using funds obtained from newer investors.
One after another project has been launched on assured return model in Noida, Gurgaon
Chandigarh, Ahmadabad fooling the govt agencies and the customers. Even after the Court
has declared all assured return schemes as ponzy schemes. That’s is what is the agenda
of Ashish Bhalla that’s why he is launching one after the other project in order to feed
previous customers from the money of new investors. Just the question is when our
govt agencies will take actions on this fraudster and when our customer friends will
understand that this is a trap.
What is a ponzy scheme ? “Ponzy schemes are the schemes floated in general public with
the intention of conducting fraud and luring customers with the offers. Pays profits to
earlier investors using funds obtained from newer investors.
One after another project has been launched on assured return model in Noida, Gurgaon
Chandigarh, Ahmadabad fooling the govt agencies and the customers. Even after the Court
has declared all assured return schemes as ponzy schemes. That’s is what is the agenda
of Ashish Bhalla that’s why he is launching one after the other project in order to feed
previous customers from the money of new investors. Just the question is when our
govt agencies will take actions on this fraudster and when our customer friends will
understand that this is a trap.
Mr. Singh, in today's age of information and technology no customer is that illiterate to not check the background of the property or builders before investing in. They are investing their hard earned money and making all kinds of possible research before taking the purchase decision. Ashish Bhalla has a good name in the market and people believe in the services that his brand offers.
WTC NOIDA OWNERS STILL RUNNING THE PONZY SCHEME
Supreme Court stated that all assured Return schemes running comes under PONZY SCHEME. Why customers cant understand this?
WTC Noida average BSP Rs. 5500/sq ft
Particulars In RS.(per square feet) Notes
BSP 5500
Assured [protected]@ 36% 1980 If only he will be able to complete in 3 years.
Lease [protected]@27% 1485 As per the agreement
Operational [protected]@10% 550
Marketing Cost @8% 440
Brokerage Cost 12% 660 in spl cases it is gone upto 14%
Construction Cost 2000 as per the WTC standard it should range between[protected]
Other Cost( Admin, liasoning cost, finance cost etc)@2% 110
Total cost of the project 7225
I simply understand by the above calculation that Bhalla Ji is a genius and only he can complete his projects under such circumstances. I am sure all 6 launched projects will be completed soon. What a businessman?
That’s why all assured return schemes named as PONZY schemes, to fulfil the requirement of the existing customers they have to search for new customers. The moment fresh sales slow down their assured return starts delaying. Construction can never be completed in such circumstances.
Supreme Court stated that all assured Return schemes running comes under PONZY SCHEME. Why customers cant understand this?
WTC Noida average BSP Rs. 5500/sq ft
Particulars In RS.(per square feet) Notes
BSP 5500
Assured [protected]@ 36% 1980 If only he will be able to complete in 3 years.
Lease [protected]@27% 1485 As per the agreement
Operational [protected]@10% 550
Marketing Cost @8% 440
Brokerage Cost 12% 660 in spl cases it is gone upto 14%
Construction Cost 2000 as per the WTC standard it should range between[protected]
Other Cost( Admin, liasoning cost, finance cost etc)@2% 110
Total cost of the project 7225
I simply understand by the above calculation that Bhalla Ji is a genius and only he can complete his projects under such circumstances. I am sure all 6 launched projects will be completed soon. What a businessman?
That’s why all assured return schemes named as PONZY schemes, to fulfil the requirement of the existing customers they have to search for new customers. The moment fresh sales slow down their assured return starts delaying. Construction can never be completed in such circumstances.