We would like to appraise you of a serious issue that we had over the last couple of years with our principal contractor M/S Ramki Infra , a 3000 Cr company of repute . This company was engaged after due diligence , but the company got embroiled in investigations by various agencies & could not undertake any work due to a serious financial crunch which has affected all their projects across India , and we became a victim in two cases , Nitesh Flushing Meadows being one of them .
Having completed 70 % of the project , we could not find a reputed company to take the work forward and we were constrained to retain the Ramki team , but manage the construction and financial committments on their behalf . While this matter of engagement between us & the contractor is purely our responsibility , you will appreciate that a company of the size & repute as Ramki Infra winding down construction was not even remotely forseable . We have been currently doing the following on behalf of the contractor ; sourcing of labour , steel , concrete and other infra structure items . Ramki Infra , has been retained only due to statutory reasons eg taxes .
While this is purely our predicament , it is only fair that we update you of the true situation .
Frequent transport strikes , sand lorry strikes etc which resulted in acute shortage of raw materials at site constrained us from undertaking construction activity as planned activity .
In addition to these , the cost of steel , cement & sand have increased exponentially which has seriously impacted the projected costing .
Despite the above impediments , we have been focusing on completing the project and have been directing our resources towards this . Many of you who have been visiting the project have acknowledged that this is visible .
You will appreciate that there is no compromise in the construction , be it the type of elevator , sizing of back-up power , generators , type of painting , landscaping , as also accessories & fittings . Hence we are not in a position to consider a compensation .
Thanks for giving me such a wonderful information regarding your project and situation. please circulate same document to other person who have booked unit in this project and please convey huddles that your company facing in current situation. I like your honesty and hope that whatever u have promised with the buyer u will do the need full. One think I want to known from ur side that is "Delay compassion" you are providing to the buyer or not.