POSTED BY September 26, 2012 4:50 pm COMMENTS (5)ON
Good evening Ashal
I’m Anil BG . Recently I went for a Studio Apartment in the commercial belt near Yamuna Xpressway being built by the Earth Infrastructures Pvt Ltd. The builder here is offering 12% assured return on the 95% of the full amount paid in advance with bank guarantee.5% one has to pay on completion.
1. Builder is asking for 95% of the 30Lacs in advance and further via an agreement assuring the 12 % of the assured returns on the said amount.
2. The property in question will be completed in the time duration of 03 yrs.Till then the builder is paying 12 % assured return with bank guarantee.
3. If unable to complete the said property in time,will then even pay the applicable interest on the amount in question.
Following could not be understood:-
(a) What is this assured return ?
(b) In an approx 03 yrs of time builder is repaying almost 12 lacs to the invester thus roughly the investor has got 40 % of his invested amount back.From where the said amount is being generated?
(c) What profit does the builder gaining as per the said scheme?
(e) Why there is no construction link Plan option available for the customers?
(f) Last but not the least,Is it wise to go in such a high risky plan for a common man like me?What if the builder vanished before the completion of the said project.
Sir pls help me out as I am thinking to get one Studio apartment in this site.Thanking You