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The real estate market for residential units remains subdued owing to several factors, which mainly include incomplete projects adversely affecting the confidence of buyers, over-leveraged balance sheets of frontline realty firms and a weak job market. Also, frauds and scams taking place in the sector have damaged the entire scene. Sunil Gandhi and SK Hooda are living examples of these frauds.
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I last few years we have seen that, apartment buyers and investors have fallen prey to numerous property frauds — projects delayed by years, apartments are sold without licenses and financial products are sold in the garb of real estate projects. ANB's Sunil Gandhi and SK Hooda are one of those.
Considering how much money is being played within a real estate transaction, it’s critical to get educated on the normal steps in the process in order to be able to spot a scam in the works. Here in ANB's case buyers failed to understand the real motive of Sunil Gandhi and SK Hooda and hence got fooled.
Real estate scams run the entire gamut, from legal frauds and fly-by-night operators to false promises and unattainable buy-one-get-something-free offers. Sunil Gandhi and SK Hooda had also cheated buyers in the same way.
Sunil Gandhi and SK Hooda have cheated innocent buyers and booked for project delay. I want to know why authorities taking too much of time to react. Please get them in custody.
Competition between developers led to various scams. And I think this Sunil Gandhi and SK Hooda case is also the result of this ugly real estate competition only.
The trend over the years shows that the property fraud instances have seen a stark rise due to lack of awareness among the people. Buyers must be aware of builders like Sunil Gandhi and SK Hooda.
Real estate is one of the most flourishing industries in the present day opens scope for scams like ANB (Sunil Gandhi and SK Hooda)ones.
These construction and real estate companies hire agents and brokers who would display properties to prospective buyers. While some companies owned disputed lands, many others often did not have any property in their name. This same happened in the case of ANB (Sunil Gandhi and SK Hooda).
Real estate fraud is a pertinent concern for buyers and investors and this has spiraled to unimaginable proportions these days. We need to stand firm against looters like Sunil Gandhi and SK Hooda and seek strict punishment for them.
Crooks like Sunil Gandhi and SK Hooda are targeting potential home buyers. We want authorities to take strict action against them.
Projects are getting delayed and consumer anger is rising as people struggle to cope with rising EMIs. Builders like Sunil Gandhi and SK Hooda on their part, say they are helpless – and looting innocent buyers.
Anticipatory bail to AN Buildwell’s erstwhile director denied
NEW DELHI: Saket District court has denied anticipatory bail application against Ashish Bhalla erstwhile director of AN Buildwell.
The Judge Sanjiv Jain of Saket Court passed the order on October 11 and dismissed Ashish Bhalla’s bail application by observing the facts that accused does not deserve to be released.
“We argued that Bhalla was the mastermind behind the project as there were three parties involved: AN Buildwell who had the land, Millenium Spire who provided the initial funding and Spireworld which was developmental platform authorised to execute the project. Spireworld belongs to Viridian Development Managers Private Limited in which majority shareholding belongs to Viridian Holding Private Limited. Bhalla holds 99.9% share on Viridian Holding Private Limited, ” said Ratnesh Deo, counsel of Spire Wood Buyers Association (SWBA).
Bhalla’s lawyer had sought anticipatory bail stating that the applicant himself has suffered loss in crore due to engagement with AN Buildwell. He was consultant/advisor in the projects undertaken by the company and was associated in contractual capacity.
https://realty.economictimes.indiatimes.com/news/regulatory/anticipatory-bail-to...⇄
NEW DELHI: Saket District court has denied anticipatory bail application against Ashish Bhalla erstwhile director of AN Buildwell.
The Judge Sanjiv Jain of Saket Court passed the order on October 11 and dismissed Ashish Bhalla’s bail application by observing the facts that accused does not deserve to be released.
“We argued that Bhalla was the mastermind behind the project as there were three parties involved: AN Buildwell who had the land, Millenium Spire who provided the initial funding and Spireworld which was developmental platform authorised to execute the project. Spireworld belongs to Viridian Development Managers Private Limited in which majority shareholding belongs to Viridian Holding Private Limited. Bhalla holds 99.9% share on Viridian Holding Private Limited, ” said Ratnesh Deo, counsel of Spire Wood Buyers Association (SWBA).
Bhalla’s lawyer had sought anticipatory bail stating that the applicant himself has suffered loss in crore due to engagement with AN Buildwell. He was consultant/advisor in the projects undertaken by the company and was associated in contractual capacity.
https://realty.economictimes.indiatimes.com/news/regulatory/anticipatory-bail-to...⇄
Please Visit the websites : this will show you how innocent co founder of WTC NOIDA, GIFT CITY, WTC MOHALI and MD of WTC Manesar is.
http://ashishbhallaontherun.com/
http://ashishbhallaontherun.com/
AN Buildwell had launched two projects Spire Edge IT Park, Manesar and Spire Wood at Sector¬103, Gurgaon, Haryana. Both the projects are incomplete as their construction stopped in 2014–2015 due to the paucity of funds to complete the projects.
The ex-management of AN Buildwell includes SK Hooda, Sunil Gandhi, Michael Collins and Vipen Kapur. While Hooda is in jail, Gandhi, Collins and Kapur are absconding.
https://medium.com/sunil-gandhi-and-s-k-hooda-scamsters
The ex-management of AN Buildwell includes SK Hooda, Sunil Gandhi, Michael Collins and Vipen Kapur. While Hooda is in jail, Gandhi, Collins and Kapur are absconding.
https://medium.com/sunil-gandhi-and-s-k-hooda-scamsters
The department of town and country planning (DTCP) had filed an FIR against SK Hooda and Sunil Gandhi, in connection with the ANB project. A case was also filed by buyers with the economic offenses wing.
https://skhoodasunilgandhicheaters.wordpress.com/2018/02/23/hc-stays-liquidation...⇄
https://skhoodasunilgandhicheaters.wordpress.com/2018/02/23/hc-stays-liquidation...⇄
Scams are increasing with every passing day so its the responsibility lies with the buyers to be more cautious than before. However, the case has been filed against the promoters of AN Buildwell SK Hooda and Sunil Gandhi but seeing the legal system of our country I think it gonna take a few years more.
The problem has intensified in recent times as the sector is seeing more scams and liquidations. Builders like SK Hooda and Sunil Gandhi are looting people and then using the same for their own personal projects.
Buying a home is one of the most stressful experiences. After all, this is the largest purchase that most o[censored]s will ever make, and a huge chunk of your life savings are on the line. And builders like SK Hooda and Sunil Gandhi are like leeches who are eating people's hard earned money.
Today, home buyers have become more informed, but ironically are still susceptible to scams. Real estate scams run the entire gamut, from legal frauds and fly-by-night operators to false promises and untenable buy-one-get-something-free offers. Corrupt builders SK Hooda and Sunil Gandhi are the ones who are looting poor buyers and using their money for their private purpose.