Tuesday, July 22, 2014

Is Vastushodh Projects a Trustworthy - Reliable Builder?

Will Vastushodh Projects keep their word and
allocate a 2 BHK Flat in UrbanGram 02 at Kondhawe Dhawade
to Amruta & Hemant - who were waiting for the last 2 years
- at the promised property rates?

May 2012:

Vastushodh Projects (www.vastushodh.co.in) launched "Gruhasandhi Yojana" - Pre-Launch Offer to book  flats in UrbanGram (www.urbangram.in) at 1) Kondhawe Dhawade, 2) Pirangut & 3) Chakan and AnandGram at 1) Talegaon Dhamdhere & 2) Chakan.

Amruta & Hemant, a  recently married young couple, believed in the 4 page color ad of Vastushodh Gruhasandhi Yojana - published in the leading Marathi Newspaper - Sakal.

Amruta & Hemant, students of Hujurpaga & NMV - leading schools in Pune, decided to book a 2 BHK Flat - 848 sq.ft. Saleable - for Rs. 30 Lakhs (approx) -  in UrbanGram at Kondhawe Dhawade.

As per the instructions published in the 4 Page Ad in Sakal, Amruta & Hemant visited Cosmos Bank - leading co-operative bank in Pune. Filled the form given by the bank. Deposited a cheque of Rs. 50,000. Collected receipt.

As per the terms, Vastushodh was going to complete the selection, rejection & cancellation procedure and refund the amount by August 15.

When Amruta & Hemant learnt that they were selected - they were very happy. Their dream of owning a home at UrbanGram - was going to come true. They were going to get a home at their prefered & convenient  location. At Kondhawe Dhawade.

August 2012:

Vastushodh Projects invited Amruta & Hemant to their offices. Allocated them a flat of their choice in UrbanGram Kondhawe Dhawade. Arranged the site visit. And collected one more cheque of Rs. 50,000.

However, Vastushodh didn't deposite the 2nd cheque of Rs. 50,000.

Amruta became restless. She called Vastushodh. The salesman told her to wait for some more time.

This went on for months. Amruta kept on calling Vastushodh.

Once, when Amruta complained about not starting the project, the salesman at Vastushodh suggested - if you can't wait for UrbanGram at Kondhawe Dhawade - opt for Pirangut or Chakan.

The other time, Mr. Tambe, sales head of Vastushodh Projects, ridiculed Amruta by boasting - to own a home in UrbanGram - people are ready to wait for 2 - 3 years. Don't you trust Vastushodh Projects?

Amruta & Hemant trust Vastushodh Projects. They have visited UrbanGram Kondhawe Dhawade many times. They have visited UrbanGram at Chakan. When UrbanGram at Kirkatwadi was launched, they visited it too. After every visit they were convinced that it is worth waiting of UrbanGram Kondhawe Dhawade.

May 2014:

Vastushodh called Amruta & Hemant and announced that - UrbanGram Kondhawe Dhawade project is cancelled. You take your money back.

This was a big shock to Amruta & Hemant.

If it was not possible to develop the project - why didn't Vastushodh tell us before?

Why are we informed now?

After the site visit & allocation of the flat in 2012 - why did Vastushodh keep on promising that the project will start in the next 2 - 3 months?

Did Vastushodh have a plot of land to build the project - when they took our money and while they were requesting us to wait?

All these and  many more questions made Amruta & Hemant more & more upset.

And a possibility of not being able to own a home in Vastushodh Project's UrbanGram at Kondhawe Dhawade made them sad.

Who knows? They may never be able to own a home! While they were waiting for Vastushodh Projects' UrbanGram - property rates have gone up substantially. Amruta & Hemant found out.

The life of Amruta & Hemant was on the verge of becoming a tragedy.

June 2014:

Amruta felt like calling Vastushodh. But she couldn't find the number in her mobile! So, she called Justdial. The number she was given - belonged to the call center of Vastushodh.

The call center operator told Amruta that Kondhawe Dhawade project is not cancelled. It is coming soon!

Happy Amruta called Vastushodh. The salesman confirmed and told her that she has to book at the current rate of Rs. 4.200 per sq ft.

"But from May 2012 - last 2 years - you are telling me to wait! What about that?," said Amruta.

"You have paid 50,000. Right? Don't worry. You will get a discount of 50,000!," asked the salesman.

"And what about trusting you?," asked Amruta.

"50 for 50. That's all!," said the salesman.

20th July 2014:

Amruta & Hemant called me to share their experience of dealing with Vastushodh Projects Pvt. Ltd.

"Don't you know that Mr. Sachin Kulkarni, owner of Vastushodh, is my dear friend?," I asked.

"That's why we want to talk to you!," said Amruta.

"What do you expect from me? Do you think that I will write against my dear friend?," I asked.

"We don't expect anything from you. We don't want you to write about us. We only want your advice," said Hemant.

"Okay. Tell me. What's the issue?," I said.

I heard their story.
You know what? I didn't believe them.
To confirm that they are truthful, I asked them, "Will you say all this in front of the camera?,"

"Yes!," Hemant said.

"Now, what do you say?," asked Hemant after the video recording.

"You will get your flat at the promised rate. I am sure. Have you ever met Mr. Sachin Kulkarni?," I said.

"No, We haven't. We couldn't. Is he different from the people working for him?," Amruta asked.

"Yes. He is different from the other builders too. You know? Real estate is a criminal enterprise. But, Sachin is not a criminal. He is an idiot. Gadhav. Pre-launch offer & trying to avoid fulfilling promise - proves that. But, I know for sure, Sachin will never commit a crime against a home buyer. That is not his nature," I said.

What say you?
Will Amruta & Hemant get their flat at the promised rate?
Is Vastushodh a trustworthy & reliable builder?
Do you know any builder in Pune who has ever broken his promise?

Please, share your experiences & views in the comments.

Related Stories:

1) Welcome to Tiny Homes at Kondhawe Dhawade, near Kothrud, Pune!

2) A 3 BHK Flat for Rs 45 Lakhs & 2 BHK for 35 at Kondhawe Dhawade! Marathi Video

Subscribe for Free!

To receive free emails or free RSS feeds, please, subscribe to Ravi Karandeekar's Pune Real Estate Market News Blog

Feel free to call me:

I enjoy talking, sharing my views and giving advice about buying property in Pune real estate market.

If you like to chat, join me, RaviKarandeekarsBlogs on Google Talk.

My email id is RaviKarandeekar@RaviKarandeekar.com Feel free to write to me. I reply as soon as i can.

If you want my advice, feel free to call me on 919860044110.  First 3 minutes are free! And for more than 3 minutes - pay as you wish - you decide the value of my advice.

Of course, for a serious discussion, better fix an appointment at a time convenient to both of us. So that we can have uninterrupted & in depth discussion on my mobile (919860044110)
- on Video Hangout on Google+
- or on Skype (ravikarandeekar) .

For more than 3 minutes and up to 30 minutes - pay as you wish. After the conversation - transfer the money in my bank account. As much as you wish. From a few hundred to a few hundred thousand crore of U S Dollars or Indian Rupees. Here are my bank account details:

Ravindra Karandeekar,
Bank of Maharashtra.
Savings A/c no- 20047674794.
Branch- Bajirao Road Pune MICR Code 411014010.
IFSC- MAHB0000001