What is the status of Sovereign Lakeview Project?

Naziya, Bangalore

25th January 2015

Buying property in Sovereign Lakeview, Vidyaranyapura, Bangalore

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Mahi garg, Bangalore

27th January 2015

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The price of apartment ranges from Rs 37.50 lakhs excluding registrations, stamp duty, VAT and service tax. There are extra charges for east facing, parking facing and lake facing apartment that is Rs 50,000, rs 25,000 and Rs 50,000 respectively. The estimated possession date of the project is by 2016.

Sachin bhatt, Bangalore

27th January 2015

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Hi Pramod, Thanks for sharing the details here. Have you booked an apartment in this project?

Kanishka Sen, Bangalore

27th January 2015

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I do not know about cancellation and all but when I inquired about the project may be last year some time, it was siad that the project is coming on 13 acres of land and the project offers 2 and 3 bhk apartments, 10 high-rise towers of 28 floors each.

Sachin bhatt, Bangalore

27th January 2015

The project seems to be cancelled as Sovereign Developers & Infrastructure Ltd, the builder not initiated the construction work here after collected advance of Rs.50000 each from who ever booked here.

After one year , the landlord cancelled the Joint Development Agreement with the builder.Their other project Sovereign Sonaa also end up with similar fate.

Their first project Sovereign Unnathi also ended with many problem as builder has demanded a unbeleivable escalation of 60% of the agreement Value. more than 500 people filed cases against the builder.

The builder not only cheated the buyers but also to the various govt.authorities by not paying VAT, Service Tax etc which is collected from the buyers. An FIR also has been filed against the builder, also an arrest warrant has been issued by the Service Tax dept.

All public notices can be read here: http://unnathi.in/forum/viewforum.php?f=20&sid=683a036023761b216a9840e7bd659d1c

pramod, Apartment Resident, Bangalore

26th January 2015

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