Viridian Red — the real estate sector and viridian reds intelligent scam strategy

Address:	New Delhi, Delhi, 110020
Website:	www.viridian.red

Numerous scams occur constantly in the real estate industry where consumers have no idea that they are being tricked in the name of best property deals. Consider the recent events carried out by viridian red private limited at the back of genuine promoters and directors associated with an buildwell during the spire woods project.

With rising competition in real estate property, the most effective growing sector in india, there is a frequent practice to entice buyers through false claims and incorrect information. This kind of game is played during the initial phase of the project by promising them to fulfill their capital requirements. It has become a trend in real estate industry and is growing tremendously.

Ashish bhalla associated with the ventures spire edge & spire woods announced at a press conference where his organization sfvipfl (Sphereinvest viridian india property fund ltd.) invested 20 million dollars in the rs. 400-crore venture. However with a condition that the undertakings of an buildwell will be overseen by his own particular venture "spire world" and he would assume the responsibility of the whole task. An asset manager would likewise be selected by sfvipfl who will have access to all data and critical information of an buildwell. Ashish bhalla got the shareholders to reduce the total balance commitment sum (Bca)/ outstanding commitment amount (Oca) from rs. 48cr down to rs. 21cr, by giving false expectations of an buildwell future expansion.

Numerous building contractors con the buyers through assured rental returns. Building contractors advertise fake rentals posted on the internet to attract potential buyers and if the prospective buyers do not carry out thorough research, they can most certainly get caught in the web of such frauds. These building contractors often advertise that the particular property can be easily rented out to earn fixed monthly income, however, the reality is uncovered after the actual purchase.