State Bank of India (SBI) Vanished from XRBIA.Com!
Today, if you visit "Find Finance" section on the website of XRBIA Hinjewadi Pune, you will not see State Bank of India (SBI) listed under "Housing Financiers"!
All other housing finance companies - Indiabulls, Gruh Finance, DHFL, Oriental, Yes Bank, ICICI, Bank of India, Bank of Maharashtra, LIC - are still there. But, State Bank of India (SBI) is not there on the website of XRBIA anymore!!
State Bank of India (SBI), the most respected institution in India, has vanished from XRBIA.Com!
Why? What happened? What does it mean?
ADF from State Bank of India to XRBIA (!?)
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| Xrbia Hinjewadi Pune |
In July & August 2012, you must have seen State Bank of India (SBI) in each & every ad of 80 : 20 ADF (Advance Disbursement Scheme) of XRBIA Hinjewadi Pune. Listed as "Housing Financier".
SBI - State Bank of India - housing financier of XRBIA 80 : 20 ADF Scheme was in the ad published in Times of India Pune.
SBI - State Bank of India - housing financier of XRBIA 80 : 20 ADF Scheme was in the ad published in Sakal Pune.
Not only that on the website of XRBIA, there was an "APF" letter from SBI - State Bank of India. Announcing that "XRBIA is SBI Approved Project". Giving permission to mention SBI - State Bank of India - in the publicity material of XRBIA.
But, today, there is neither APF letter of SBI - State Bank of India - on the website of XRBIA! Nor SBI - State Bank of India - is listed as "Housing Financiers" of XRBIA!!
State Bank of India (SBI), whom you trusted while giving 20 per cent of house cost as a booking amount to XRBIA is not there anymore!
Why? What happened? What does it mean?
Congratulations Mr. Rajesh Kumar, Regional Manager of State Bank of India!!
I know that Mr. Vijay Kumbhar of Surajya Sangharsh Samiti has written one letter to State Bank of India (SBI). Requesting to confirm whether State Bank of India has approved XRBIA.
But, you know what? When I visited Mr. Rajesh Kumar, Regional Manager (RBO-VII), State Bank of India, I was not expecting that State Bank of India will be no more on XRBIA.Com! Mr. Rajesh Kumar himself gave me this news!!
Thanks & Congratulations Mr. Rajesh Kumar! Your action speaks louder than the words!! But, this is not only between State Bank of India (SBI) and XRBIA. Two more nationalized banks - Bank of Maharashtra & Bank of India are also involved.
And most important. Under the ADF scheme, more than 3,500 property buyers have already given 20 per cent of cost of house to XRBIA as a booking amount. Your public announcement will give them last opportunity to rethink about their decision.
So, please, come ahead Mr. Rajesh Kumar, Regional Manager (RBO-VII), State Bank of India. Make public announcement about XRBIA. It's your moral, legal as well as corporate responsibility. Remember that "The Nation banks on State Bank of India".
Related Stories:
View XRBIA, Nere Dattawadi, on Marunji Road, approx 7 kms from KPIT Cummins at Hinjewadi Pune in a larger map
1) SATURDAY, SEPTEMBER 01, 2012
Should I Cancel My Booking in XRBIA Hinjewadi?
2) FRIDAY, AUGUST 10, 2012
XRBIA, Exorcist & Phobia
3) Xrbia Hinjewadi Pune Site Visit - Enjoy Recorded Conversation!
4) THURSDAY, AUGUST 02, 2012
XRBIA Hinjewadi - The Sucker's Deal for the Stupid People with Some Disposable Income
5) TUESDAY, AUGUST 07, 2012
XRBIA Pune - A Few Questions & Observations
6) WEDNESDAY, SEPTEMBER 05, 2012
Have You Taken Possession of Your Bungalow Plot?
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Looks to be another cheating with customer.
ReplyDeleteOne was already published in your earlier post as comments
http://ravikarandeekarsblog.blogspot.in/2012/08/XRBIA-Pune-Bookings-Site-Visit-Photo-Review.html
http://ravikarandeekarsblog.blogspot.in/2012/09/XRBIA-cancellation-of-booking.html
jagerahoThursday, September 6, 2012 5:05:00 PM GMT+05:30
I am reading your blogs on Xrbia from last one month. I am little confused on how we can trust XRBIA.
I found one of my friends, who had booked a flat in Xrbia, being confused on whom to listen. He also questioned the honesty of Xrbia. He learned that Pune Xrbia sales agent sold 1 BHK smart flats as a non-premium flats. Customer were convinced by sales agents that back view is non-premium view, as those flats come at back side and cannot have premium view with one view balcony except corner flats. Looking at a plan, anyone can be convinced that you will see only boundary wall /open vehicle parking from back view.
Now after booking, it was surprise for those buyers, as customer executives from Mumbai branch asking for premium value on the flats. How you will react if you are a buyer and made a deal on the booking date by paying (20% amount + Service tax + Vat). At this moment, you have lost the choice of selecting a different flat, if your budget doesn’t allow premium value and that to 230 sq.ft. flat. Another joke was Buyers have received emails with text saying provisional allotment letter, but no attachment of provisional letter. Allotment receipt was sent again in the name of provisional letter. No original hard copy is provided. Buyer has to refer color print-out of PDF document sent through email.
If you go through xrbia website FAQ, It is confirmed that booking will be accepted only on payment of 20% amount on booking date. So booking was finalized on the booking date itself by Xrbia sales agents.
Learning these cases, I am worried about those customers.
Can’t Xrbia exclude the premium amount for them, which may be recovered till date though collective interest of booking amount. Xrbia is claiming that they are selling budget house. Then why the premium amount on back-view flats of 230 sq.ft?
What do you suggest Ravi, Can those customer go to consumer court, if Xrbia force them to pay premium amount? These flat owners received allotment receipts. They also have signed doc from Xrbia sales agent, which can prove that they paid the booking amount for the flat on booking date.
Many 1 BHK smart buyer from Pune may come with this query.
Kindly reply
Dear, you mean to say that XRBIA has sold the particular flat to your friend?
DeleteXRBIA took money (20% amount + Service tax + Vat) against the particular flat number?
How is this possible?
I can't comment on this without proof.
It's serious legal issue.
Sorry.
You are correct , Xrbia took the cheques from buyers without proving the service tax and VAT break-up document on 4th sept and 5th sept. Buyers were told that they will receive the provisional allotment letters within 15 days.
DeleteI don't want to publish my friend's details, as Xrbia may take advantage of it. But many buyers who bought 1 BHK smart flat (in A7 building within flat nos 2 to 11 on every floor) from Xrbia sales agent in Pune office are facing this issue. This can be confirmed from internal sources of xrbia or from sales agent or even from buyers.
The provisional allotment letters, which they received in emails are only allotment receipts, which will say that XXX flat is allotted against XXXX cheque no. Why Xrbia is not providing original letter to Buyer? It will clear Xrbia's stand.
Please do something for these buyers as Xrbia is not taking any initiatives to guide them properly and also not willing to accept the facts.
I request all Buyers, who have faced this issue, Please express there voice.
As common practice in Pune , very rare developer are delivering project on time & those only can appoint tier 1 contractors.
DeleteAnd Good contractor can not afford delaying projects as their overheads are more & do not give space to developer to make delay for any reason & this might be reason for not appointing good contractor (like L & T ), as developer may end-up with extra cost for unnecessary delaying project or leaving uncompleted
Truth unfolding now.........I am sure lot more news to come in..Thanks Ravi for your research and warning the innocent buyers of Pune.
ReplyDeleteDear Abdul, be ready for a surprise!
DeleteState Bank of India is not there where it was previously. Means at http://www.xrbia.com/site/projects-find-finance-housing-financiers.php
But, if you click the tab "About" and then visit "Partners" in the drop down menu you can find State Bank of India: http://xrbia.com/site/about-partners-housing.php
What it means? Why State Bank of India (SBI) is under the heading of "Partners"?
Partners!
State Bank of India & XRBIA - partners?
Don't you think that the State Bank of India (SBI) should make public announcement about it's "relationship" "partnership" with XRBIA?
Simply these guys are playing with human emotions via internet....Frankly speaking I am pissed off with their attitude nothing is transparent,it is going to be a huge mess....This is the darker side of modern technology abuse.
Deleteoops,
ReplyDeleteThis is getting nasty!
Ravi, you've sure got older and wiser and far sighted.
well done for warning at first.
I am sorry about the people who "invested" in the property. now isnt it the best time to avoid doing the "property flip" investments?
daft question ravi.
has anybody invited you for tea at blue ridge? whats the status?
no I havent invested any of my hard earned money there. Just want to know how successful the project is.
Hey i was going through your blog and checked the website ....SBI Letter is still there .. and i had word with SBI that they got APF Letter and they are in process for ADF.
ReplyDeleteHi Ravi, I got worried and logged in xerbia website.....but can c the sbi letter....i also called their office and they told me that v can approach sbi bcoz project approval has been done....
ReplyDeleteYes, now, State Bank of India (SBI) is the first bank under "Find Finance": http://www.xrbia.com/site/projects-find-finance-housing-financiers.php
DeleteBut, when I wrote the blog State Bank of India (SBI) was not there. They changed it after I published the blog.
Good!
We all trust State Bank of India (SBI). And now, State Bank of India (SBI) is back at "Find Finance".
Not only under the tab "Find Finance" but State Bank of India (SBI) is under the tab About > Partners > too! http://www.xrbia.com/site/about-partners-housing.php
What does it mean?
Don't you think that State Bank of India (SBI) should announce that as per the launch ad of XRBIA State Bank of India (SBI)is going to give ADF?
Don't forget that State Bank of India (SBI) is one of the most important financial institutions in India.
State Bank of India (SBI) must be transparent and open about it's decisions.
Is State Bank of India (SBI) going to give ADF?
Make public announcement State Bank of India (SBI).
one of XRBIA sale person has given me XRBIA APF no -"APF/RBO VII/2012-13/32"
ReplyDeleteIs it not correct?
Thanks Ravi...you have constantly opposed greedy builders and always supported needy home buyers. I admire your courage to fight for social cause. Also people get useful information on his blog. Ravi only gives negative and positive aspects of certain project and most of the times they are correct and unbiased. However, taking his valuable information and clues you have to decide depending upon your budget and requirement. Thanks Ravi...keep up the good work....Thanks for writing on Xrbia...your Xrbia blog is super hit...I support you...
ReplyDeleteMr. Ravi Karandeekar was right. After reading his blog in the morning, I checked "Find Finance" section on the website of XRBIA Hinjewadi Pune, SBI was not mentioned there. And as Ravi rightly pointed out that SBI was shown as one of the partners. Yes..I saw it myself..Now out of fear Xrbia people have immediately changed it and have tried to make people fool. Beware of Xrbia. I have heard many complaints of Xrbia from people who have invested in it. Many people have not got correct allotment letters. It seems they are now insisting for Premium charges for their so-called non-premium flats....xrbians...take care...
ReplyDeleteYou are correct , Xrbia took the cheques from buyers without proving the service tax and VAT break-up document on 4th sept and 5th sept. Buyers were told that they will receive the provisional allotment letters within 15 days.
DeleteI don't want to publish my friend's details, as Xrbia may take advantage of it. But many buyers who bought 1 BHK smart flat (in A7 building within flat nos 2 to 11 on every floor) from Xrbia sales agent in Pune office are facing this issue. This can be confirmed from internal sources of xrbia or from sales agent or even from buyers.
The provisional allotment letters, which they received in emails are only allotment receipts, which will say that XXX flat is allotted against XXXX cheque no. Why Xrbia is not providing original letter to Buyer? It will clear Xrbia's stand.
Please do something for these buyers as Xrbia is not taking any initiatives to guide them properly and also not willing to accept the facts.
I request all Buyers, who have faced this issue, Please express their voice.
Dear All Please check below websites & then come to any conclusion,
ReplyDeletehttp://xrbia.com/site/pdf/SBI-APF-letter.pdf
http://xrbia.com/site/projects-find-finance-housing-financiers.php
Aati Ghaai Sankataat nei Ravi Sir ...!!
In fact, Manoj, you should thank me for keeping watch and bringing State Bank of India (SBI) back on http://www.xrbia.com/site/projects-find-finance-housing-financiers.php
DeleteGreat Ravi...you have indeed sporty nature
DeleteJust had a word with Mr. Rajesh Kumar, Regional Manager (RBO-VII), SBI.
ReplyDeleteSBI has approved "XRBIA" project, & there is no ambiguity about same.
The APF letter present on XRBIA website is genuine & valid.
http://xrbia.com/site/projects-find-finance-housing-financiers.php
"XRBIA" is demanding mandatory "ADF: Advance Disbursement Facility" from SBI.
SBI is yet to decide on mandatory ADF part. Whether to accept the mandatory ADF or not.??
If SBI says "No" to Mandatory ADF: The Project will still remain "Approved" in SBI, but won't support ADF.
---------------------------
I am not supporting XRBIA, but I am strongly against Ravi's attitude of spreading panic with half known information.
This is not the first time he has done that.
Builder tries to fool innocent buyers with unresonable pricing's.
People like Ravi Karandeekar fool innocent buyers by publishing half known spicy information. (Just for More Page hits & Google Adsense income)
Dear Rahul, it's my job to keep watch on what's happening. Look, I am doing it well!
DeletePlease, remember that as a public institution it's State Bank of India (SBI)'s responsibility to make public announcement about APF & ADF!
If State Bank of India (SBI) hasn't decided about ADF, as told to you, then why State Bank of India (SBI) name was in the launch ads of XRBIA?
I completely agree with Ravi...Xrbia indeed has not mentioned that ADF has been done with SBI....Even Xrnia gives incomplete info...hence isn't it misleading?...i have nothing to do with either with Ravi or Xrbia...but it's learning experience.
DeleteHi Ravi,
ReplyDeleteSome people have commented that same person - Rajesh Kumar - has said that XRBIA is approved project (means all legal papers are good. No dispute on title) though discussion is going on for financing terms.
Can you please elaborate what is the truth? Also, it would be great if you can answer the question : Is XRBIA a project approved by SBI?
Your credibility is at stake, Sir!
Dear Ajay, I went to congratulate State Bank of India (SBI) for giving APF & ADF to Xrbia!
DeleteBut, State Bank of India (SBI) told me something else! I asked written statement. State Bank of India (SBI) refused.
Instead of that State Bank of India (SBI) told me to check the website of Xrbia!
State Bank of India (SBI) is a public institution. State Bank of India (SBI) must make public announcement about APF & ADF to XRBIA.
The question is about the credibility of State Bank of India (SBI).
Hi Ravi,
DeleteDon't get me wrong. But project being approved by SBI is sufficient proof for having clear title and ownership of the plot.
Why financial nitty-gritty should matter?
In fact LIC is also a public sector organization. So is Bank of India. Both of them are ready to give home loans. Isn't it sufficient proof of paper work, approval and sanctions process completed?
Why are you so particular about ADF from SBI?
Mr. Ravi,
ReplyDeleteWhat are you doing man? What is the goal? They didn't give you a free flat? SBI is there - http://www.xrbia.com/site/about-partners-housing.php
Yes! State Bank of India is at http://www.xrbia.com/site/about-partners-housing.php
DeleteThat's what XRBIA claims.
What is the stand of State Bank of India (SBI)?
Is State Bank of India (SBI) going to give ADF as advertised by XRBIA?
Dear BM, thanks for being kind to me.
But, please, do care for all those who believed that State Bank of India is going to give ADF to XRBIA and paid 20 per cent cost of the flat.
My goal is all those who trusted State Bank of India & paid 20 per cent flat cost as a booking amount to XRBIA.
You are contradicting your first statement in this article. You need to correct that. That's all I am saying. It will be helpful for your credibility.
DeleteDear Ravi,
ReplyDeleteTime has come, You should consult a Good Doctor.
Everybody can see SBI there except you.
http://xrbia.com/site/projects-find-finance-housing-financiers.php
How greedy are you, for neagtive publicity of XRBIA.
I don't how geniune is XRBIA, But sincerely doubt you attitude's.
Dear Nitin, every property buyer should check and cross check every claim made by a builder.
DeletePublic institutions, like State Bank of India, must make public announcement about their decisions and policies.
State Bank of India (SBI)has come back after I published the blog.
Say thanks Ravi for bringing State Bank of India back at http://www.xrbia.com/site/projects-find-finance-housing-financiers.php
This comment has been removed by the author.
DeleteI don't know how geniune is XRBIA, But sincerely doubt you attitude's.
ReplyDeleteNitin, feel free to doubt my attitude. Better question me about anything.
DeleteAsk - Ravi, why are you giving so much importance to State Bank of India?
But, please, demand public announcement from State Bank of India about ADF to XRBIA.
This comment has been removed by the author.
DeleteI just visited the website xrbia.com and saw some promotional videos, I was LOLing all the while and wondering what were they thinking ? The video has firangs who speak impeccable English(Not that Indians cannot). But you see, Xrbia is a project for every Indian not every Firang!
ReplyDeleteVery true, samix!
DeleteHi Ravi, I have contacted SBI and they do not make it public for any project approved by them then why will they make it public for Xerbia....only bcoz u want them to....i think u should stop misguiding people now....pls accept that u have not really checked the website properly before making it public....next time please watch it twice before u create panic.
ReplyDeleteBecause State Bank of India is State Bank of India. Public sector bank.
DeleteThis comment has been removed by the author.
ReplyDeleteWhy to throw anger on Ravi. We know it very well how the builders' attitude have been in RE industry. Ravi know it much better than many of us since he has been in this industry for a long time and has seen its various colors and shades very closely. Is there any single agreement which is in favour of buyer? Has there been any builder who has brought any scheme which was genuinely for poor people. A Builder always seems to extract unreasonable money from buyers. Any simple builder earns crores of money through his small and low budget projects...forget about reputed builders (the reputed builders are defined as the ones who sell their flats for minimum 50 lakhs)...you cannot simply guess about their income. Ravi, many times, has openly and boldly thrown light on these black colours and shades of this industry. I personally have gained much information about RE just by reading his blogs.Let us get benefited by his knowledge which is free through his blogs. Further, it is not compulsory to read Ravi's blogs, it is ofcourse voluntary and Ravi never compels anybody to agree with his opinions. We should be thankful that at least there is somebody who shares his knowledge and opinions about RE, so that buyers get some clues and decide about a particular project. You read his blogs and post comment simply proves that you seek his advice in some form or the other....atleast this is true in my case...Readers! Pl. do not take this as offensive.
ReplyDeleteThanks Ravi...good work ...keep it up. You have been supporter of home buyers. Curious to know more mischief of Xrbia. Pune home buyers need more police like you who can expose builder's chalugiri...We are with you....don't worry.
ReplyDeleteHi Ravi,
ReplyDeleteIf you really cares about buyers, then please write a blog problem facing by PRA East avenue project buyers in Wagholi.buyers booked flat 2 years back but no registration or work started.
Regards,
Satish
Dear Satish,
Delete1) It's not about whether I care for the buyers are not. It's about the buyer's assertiveness.
2) Have you booked a flat in PRA East Avenue? If you have, please, give me video interview so that I can publish it on my blog.
3) Without buyer's direct contribution, I can only write on this issue like this -
1) Prisoners of Pre-Launch Offers -Earn Compensation & Freedom
2) Wish-Mouse of Ganpatipule - the last resort
Why Xrbia is particular on ADF agreement. If some of the banks mentioned on Xrbia website have agreed for ADF scheme, it's good and fine and if SBI is not ready to agree upon ADF terms then Xrbia should proceed further with SBI without ADF. I don't see any issues with it. That means SBI will release payment as per progress of construction as it does normally (i.e. progressively release of loan payment with 10% increment value). In that case Xrbia does not need to pay 50% EMI till possession for buyers who would opt for SBI loan. I think SBI on Xrbia website is one of the strong reasons of authenticity of the project. So Xrbia should not loose SBI as one of its financiers. I think Xrbia should either convince SBI for ADF or should proceed without ADF. What is Xrbia's stand?. Readers might think why I am so interested in Xrbia matters when I have not booked any flat in Xrbia. Not me but one of my friends has booked 3 BHK in Xrbia (He is genuine needy home buyer without having disposable income). I care for him. This friend of mine is also worried because he has got allotment letter which describes premium view (+ 2 Lacs) charges for his non-premium 3 BHK flat. Xrbia, Mumbai people say there is system error in their C-4 building. I support Ravi because Ravi supports genuine home buyer and my friend is genuine home buyer and not an stupid investor.
ReplyDeleteXrbia mentions on their website that the cost of maintenance is Rs. 3 per sq. ft. per month. What does it mean???
ReplyDeleteFor 3 BHK: 570 (carpet) x 3 = Rs. 1710 or 740 (BUA) x 3 = Rs. 2220, i.e. Rs. 2220/- per month???. What sort of maintenance requirements are these which demand Rs. 2220/- per month? For such an affordable housing scheme as Xrbia claims, Rs. 2200/month is non-affordable.
A simple question…...Shouldn’t Xrbia elaborate on this when they claim they are transparent (?) in all their dealings?
Ravi....You mentioned above that...
ReplyDeleteBut, you know what? When I visited Mr. Rajesh Kumar, Regional Manager (RBO-VII), State Bank of India, I was not expecting that State Bank of India will be no more on XRBIA.Com! Mr. Rajesh Kumar himself gave me this news!!
Did you REALLY meet Rajesh Kumar? Did he REALLY tell you that SBI is not with XRBIA? Remember...you are giving comments about regional manager of SBI
Please, have a look at this complaint -
ReplyDeleteI will finally say that either you give me 15% discount and accept my cheque or else i want to exit from this deal without any loss..i cant bear single rs loss for your mistakes.
plus i want my whole money back @ 10% interest on amount which you blocked (181758 + 562138+5500) plus additional 1 lakh rs for embarrassing me to this extend..
I was supposed to tell my other friends to invest in your scheme but now i will not suggest anybody about xrbia...
As a customer my humble request to you people that please improve lot lot lot on customer service area and don't convey any wrong massage which may leads customer to suffer financially and mentally..otherwise customer have no option but to exit from Xrbia...
Very disappointed with your services,
Ashwini Pandit
Flat with xrbia hinjewadi developers | ConsumerComplaints.in
real estate developers Dwarka - Real Estate Consultants for properties and projects in Noida, Gurgaon and other parts of Delhi NCR - Home Residency
ReplyDeleteHi Ravi, Xrbia is been very much approved by SBI ............. i think negative PR gets more publicity for you.......
ReplyDelete"Xrbia is been very much approved by SBI" means what Vicky? I admire you. You are an intelligent person. You comment on Facebook too. I admire your commitment to Xrbia. However, before commenting, please, read the blog. So that we can have a good debate. For me your every comment is an opportunity to prove my point. So, you are my favorite. Please, do not disappoint me. Love you.
DeletePlease see the list of APPROVED PROJECTS in PUNE by SBI on their website
ReplyDeletehttps://www.sbi.co.in/user.htm
XRBIA Hinjewadi is S.No. 666 is it same for XRBIA Hinjewadi Road ?
sir i had booked a flat in this scheme bank is Indiabulls. Now as usual Xrbia is not giving Amenities assured at time of booking and Indiabulls badly follow up with us for repayment. On the 20% accumulated from 3500 customers Xrbia Lauching new projects no body bothers????
ReplyDelete