I invested in 2014 in the project and bought the studio apartment for self use. So far (till March 2017), I have received the 12% return after deduction of 10% TDS on my investment and company met their commitment. I hope things will flourish soon in another 1 year time frame when project will be completely ready. Their Phase 1 is live so chances for rest of phases are very high to complete the project, if company don't make any mistake at this stage.
Hi Sashi and Shenoy!!!! I am in the same situation as you. However, I am a bit doubtful about putting my hard earned money because of the rates they are quoting which look at a very high side. Secondly and most importantly, not sure about credibility about such offers. It seems to me as a money collecting scheme by the builder as no one is ready to fund the project. So, I am not decided. I will appreciate if someone can give me a genuine advise.
Hi Anshu!! I would only suggest that check out all the necessary papers, if possible involve a property lawyer. They will give you the exact advice. Because lot's of bad reviews are available on google. Some of them are saying that builder is not good and delay their possession, many of them are saying that the builder is unable to provide us the said amenities. So, be careful. It is your hard earned money and once it got stuck it is very difficult to take back.
I agree with Sashi. I am also thinking about investing in this project. I have two concerns : 1) Is the builder trustworthy ? 12% annual interest and 3 yrs till possession, is it too good to believe ? and 2) What will be the market demand to sell a studio apartment 3-4 yrs from now? I am not sure of the exit options.