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There are many reasons, why you should be careful before booking flats with Sobha Developers.
1) Delivery Delays (my project delayed by 1.5 Yrs and still not sure of exact handover date...this could be longer)
2) Be ready to lose 25% of project cost...by the time they deliver, your net project cost would have gone up by 20-25% (my experience)
3) Careful with their agreement clauses
4) Careful with their payment schedule...this has no relevance to their construction progress.
5) Careful with their sales promises...knowingly or unknowingly they may be cheating you (my personal experience) and management does not care about those promises.
Delivery Always late
I have booked a flat in Sobha Iris in Jan-06. The flat was supposed to be ready by Feb-07. The delivery was postponed 3 times till now. Sobha gives a date and when the date nears they postpone it by 6 months. The current promised completion date is end-July’08 (mind you...it’s completion date but not handover date !). Even if they handover in Aug’08 it’s a good 1.5 Yrs delay.
Financial Loss.
If you book a Sobha flat, be ready for a loss of about Rs.10 lac. I have calculated my financial loss to be about Rs.11 Lac (assuming delivery will be in Aug’08).
Do they cheat ?
Am not sure whether it is intentional. We were given a payment schedule and were told by their sales that the construction will be completed as per that schedule. However, 96% of the payments have been collected by Aug-2007 (means 96% of the construction should have been completed) and the rest 4% takes more than an year ! It means, Sobha completed that part of the project which gets them money on time and conveniently delays the rest for any period as they have already got their money (including profits!). Very efficient cash flow planning with customers money indeed ! Mind you, they are right to have collected the money, if you look at the agreement wording. I only hope that this is not a new form of organizational cheating.
Agreement Terms
They are mostly one-sided. They also charge hefty Advocate fee from customers. This basically means you are paying the advocate fee to have the agreements designed for the benefit of the "Other Party". Considering that all the agreements use the same format - Advocate fee is really wonderful profit margin !
Be cautious of delay clauses : What happens if the project is delayed ? Developers may also have a clause to pay penalty on delay. But look at these clauses carefully to see when they are not applicable and argue with them to change suitably.
Be cautious of Payment Schedule : Ask them questions on, what it means in terms of actual completion. Most probably, you will pay all the money at least 1 yr in advance, though they claim otherwise !
Ask them questions on sharing of financial loss. e.g. if they delay the project by 1-2 years, govt may increase taxes & levies. If the increase is substantial, then you will lose a lot.
Absolutely agree with these statements! To me Sobha Developers is bordering on organized cheating! I have booked a flat with Sobha Hillview. They have already announced a one-year delay. God only knows how much more it will further be. And of course, there not a paise of compensation. I would strongly dissuade potential property buyers from considering Sobha. They USED to be good; no longer.
it is rushikesh ubgade, s flat he paid some amount.sobha developers still had not given him the possession of the flat. society still had not phoned us about registration of the flats our all construction papers are with icici bank .these papers we submitted for loan application in the month of march 27 2007. society should keep contact with us. i am giving you my phone number 2241161 land line call facility is in our home at nagpur. call us on the given nuber 2241161
Please find some more comments here http://www.newscrux.com/2007/01/07/experience-with-sobha-and-mantri-developers/
I wanted to buy one falt in Bangalore form Shoba, thanks for the comments above I am now looking at other builders..Shoba is out for the list.
Gentle friends who have booked for Sobha Moonstone... there has been no construction to date (26-Mar-2009). Sobha are refusing to refund the money paid with interest. I'm taking them to Consumer Forum.
I strongly suggest that one should not buy property from Sobha Developers. They have such a huge brand value, but their people, processes and technology is very very poor. Being a buyer of an apartment of Sobha Magnolia, I have sufferred very much. I put in my first booking money in early 2005, only to take possession after 1.5 years of delay in late 2009. Sobha themselves admit that they had no prior experience in building such tall structures and it was a learning for them.
As always, the agreements are one sided favoring them. There is a clause that says that if you do a modification in the apartment, you are not entitled for project delay compensation. A change in a tile also amounts to modification. A point to note is that those who did not do modifications are also yet to be compensated.
All in all, it was a painful 5 year journey on Sobha Magnolia. The delay has resulted in huge financials loss. As said earlier, their people, processes and technology is very very poor.
I strongly agree with the attitude sobha developers display towards their customers. this was reflected in their delaying tactics towards making payments for a flat which they have taken on rent since 2008. Their payments are always late and they offer flimsy excuses like "Out of station" "busy with meetings" "accounts department is closed (wonder how they get their paychecks on time!)" "someone's relative expired" "have already sent the payment (when they have not paid rent since five months!)"... On top of that, when the rental agreement mentions that only five to six people can stay in the flat, about 12 to 15 people are accommodated and they cause nuisance to all people in the neighborhood. The people form sobha developers used to come to the flat drunk very often and used to spit out of the windows and use foul language when confronted by the neighbors. As a result, the flat owners are running a financial loss of over 1.5 to 2 lac rupees and a lot of loss of goodwill among society members. Can anyone suggest where I can lodge a complaint against the company, any legal recourse etc...
Completely agree - I am going through the cheating right now! Wish I had come across this article before
Anyone has booked apartment in Sobha Silicone Oasis on Hosa Road...Would like to have your experience...
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hi, guys, SOBHA IS SAYING THEY ARE REPUTED BUILDERS, if they are one of the good builder they have to PROVE THEIR UPCOMING AND ONGOING PROJECTS IN BANGALORE that they are the one of the prompt builder in bangalore, I heard owner of sobha is one of the honest person but who is working with sobha all the staff's attitude is not good, ok, one side they are right but they have to flexible with valuable customers who believes in SOBHA. ABOVE COMMENTS SHOWS THAT SOBHA MANAGEMENT IS NOT TAKING CARE ABOUT ALL COMMENTS.
I lost 50000 rupees as advance amount. They are cheaters.
Sobha developers sales managers are very worst, they need blind money from customers with that they want to make their credibility.
Recently i paid advance amount 50, 000 rupees for 2 bhk flat at sobha dream acres panathur bangalore. During payment verbally they said advance amount will be refunded if customer shows genuine reason for cancellation with in 30 days.
Unfortunately i met with an accident and resigned job, when i asked to refund my advance amount 50000 rupees they said go to civil court and lodge the case against sobha developers, they are not ready to listen words of me. They are not refunded my money, finally i lost my money.
They are cheaters, please dont purchase any flat from sobha dream acres panathur and sobha developrs.
They are gundas, they shows atrocity on customers.
I agree the builder once you pay advance, he will cheat you royally by delayed interest of 24 % to you, I paid lacs of rupees to them as penalty at the same time for delay delivery 8k per month/ silent. I bought 1.4 Cr apartment in Forest-view-OAK and they allotted faulty car parking that too additional by paying extra..when you ask they have 100 reasons to justify legally and very transference..everything is bull crap story to you and CRM will reply stereo type stories.. you have left no options.. Totally unprofessional...
Hello Guys,
I am one of the victims for this, is anybody know good lawyer who can help file a case with Sobha and sue them?
I totally endorse the view. To add on maintenance services at Shobha Dwarka Expressway is an eye wash. They charge fortune for nothing. There services are worst then govt agencies. So never ever go for their project.
Manish mittal
A-25 sector -109 Dwarka Expressway.
Hi guys,
I am going through similar things, after booking flats no clear due date given, when i asked question, all of sudden, sending emails as payment overdue and charging interest .
Is there any higher management contacts available to change relation ship manager?
Thanks,