Monday, April 25, 2016

Is Maple Shelters' 1 BHK Flat for 5 Lakhs a Fake Offer?

Maple Shelters can not construct & deliver 10,000 units of 1 BHK Flat for Rs. 5 Lakhs - says Vijay Kumbhar, RTI Activist, who exposed Maple Shelters Pradhan Mantri Awas Yojana Scam:

Vijay Kumbhar, RTI Activist, who exposed Maple Shelters Pradhan Mantri Awas Yojana Scam

Vijay Kumbhar Challenges CREDAI Pune Metro:

To save Maple Shelters, Credai Pune Metro has 'categorically' confirmed that it's very much possible to construct & deliver 1 BHK Flat for Rs. 5 Lakhs.

The intention behind the 'categorical' confirmation is to misinform the Economic Offence Wing of Pune Police.

Pune police has taken su-moto action against Sachin Agarwal & others of Maple Shelters & registered a case under 420 (cheating and dishonestly inducing delivery of property), 417 (cheating), 120 (B) (criminal conspiracy) and 34 (common intention) of IPC.

Maple Shelters was collecting money from the low income group people by misleading them as Maharashtra Housing Day is Pradhan Mantri Awas Yojana Scheme of the government. However, Pune Police busted the scam. The Government of Maharashtra put stop to the fraudulent offer. Instructed Maple Shelters to refund the money to the applicants.

In short, the scam was about cheating people by launching the fake Pradhan Mantri Awas Yojana. Not about a 1 BHK Flat for Rs. 5 Lakhs.

Why did CREDAI Pune Metro give false or inaccurate information?

To prove that Maple Shelters is not a scamster.
Maple Shelters' offer - 1 BHK for Rs. 5 Lakhs - was genuine.
The error - mistake - was only in the advertisement.

Mr. Vijay Kumbhar realized the intention of CREDAI Pune Metro. He unearthed 2 recent flat agreements of Maple Shelters. The projects were Aapla Ghar at Nanekarwadi & Kharabwadi. Maple calls these locations as 'Moshi - Chakan' & 'Chakan - Talegaon'.

Why did Vijay Kumbhar choose these two projects?

Because these two projects were among the 14 locations where under Pradhan Mantri Awas Yojana Maple Shelters has offered a 1 BHK Flat for Rs. 5 Lakhs.

In the misleading ad Maple Shelters didn't mention the carpet area of a 1 BHK Flat. But in the official press release & in the official video interview Maple Shelters had announced that the size of the 1 BHK Flat would be 300 - 350 sq.ft. - 30

As per the agreement of Nanekarwadi - Moshi Chakan - Maple Shelters has sold a 1 BHK Flat of 32.24 for Rs. 19,58,165!

And as per the agreement of Kharabwadi - Chakan Talegaon - Maple Shelters has sold a 1 BHK Flat of 29.17 sq. mt. for Rs. 18,38,942!

CREDAI Pune Metro, prove your claim to Economic Offence Wing of Pune Police. Give the actual calculations.

Prove how come around 30 1 BHK Flat can be sold for Rs. 5 Lakhs in Aapla Ghar Housing Colonies at 1) Chakan - Talegaon, 2) Shikrapur, 3) Wagholi Annexe, 4) Sanaswadi, 5) Ranjangaon, 6) Wai, 7) Shirwal, 8) Uruli Kanchan, 9) Kondhwa Annexe Bopgaon, 10) Shikrapur - Kondhapuri, 11) Talegaon Dhamdhere, 12) Paud, 13) Ambegaon Annexe, 14) Moshi - Chakan.

Prove to Economic Offence Wing of Pune Police & the citizens of Maharashtra that Maple Shelters can construct & deliver 10,000 units of '1 BHK Flat for Rs. 5 Lakhs' at the mentioned locations.

Vijay Kumbhar has challenged CREDAI Pune Metro.

To know more, please, visit Vijay Kumbhar's Blog - CREDAI should clarify on 1 BHK flat for rupees 5 lakh

Related Stories:

3) Bravo...Maple Shelters! CREDAI Pune Metro is with you!!
Beware of the builders who are the members of CREDAI Pune Metro

2) Maple Shelters' scam busted - what about the other scams?

1) Maharashtra Housing Day Registration at Maple Office

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  1. The simple answer to why CREDAI is supporting the theory of a 5L home is because Maple was just running a "pilot" project. A lot more builders would follow suite but Maple got caught! In today's market with almost zero new sales , it is impossible to start new projects and build cash flow. So builders have come up with this new ploy to have enough cash to at least pay salaries to their staff.

    This is just an under cover crowd funding effort. The same was the case with the "flash sales" which happened some months ago.

    None of these projects will ever materialize.

    If the govt is really serious about housing it should make a simple rule that builders can only sell completed flats in completed projects within a certain price range. But that as we all know will never happen.

  2. This is nothing but ponzi sort of scheme by Maple Matka centre. Good that this matka owner got caught else many builders would have become matka owners.

    Builders keep a clause in agreement - 'PRICE/RATE INCREMENT CLAUSE' whereby crooks can give any lame reason & increase the cost of flat mid-way post purchase. If builder is putting such clause in agreement, don't buy from such crook.
    Due to no sales and financial problems, to make quick money, builders are retorting to such loot & you never know when will builder run away like Vijay Mallya abandoning the project. So buyer neither have flat, nor money but pre-EMI will start.

    Check this news, again from a CREDAI thug. This is 2014 news where criminal CREDAI doesn't respect HC ruling -

    CREDAI calls HC judgement on Supertech as unfortunate incident :

    Builder Body CREDAI Defends Supertech :

    And this is the latest news, where flats has been ordered to be sealed due to large scale violations & building more flats than permissible.

    Supertech asked to seal 1,009 flats in Greater Noida's Czar project :

    As said before, buying under-construction flat is as good as donating money to crooks, thugs & CREDAI crime syndicate.
    To be safe, buyers should always buy ready for possession flat with all approvals. Get it verified from good lawyer & check the construction quality from third party quality auditor. This way, buyer is completely assured of quality as well as legality before buying the flat. Buy what you can see & experience.

    Investors have already started to sell ready possession flats at discounted rates, much below builder rates. Builders will also be forced to crash the prices.

  3. With credai and political master glove inhand..let's see if anyone gets convicted at all... Ravi I have a very basic query about RR rates.. Is it the minimum rate per sqr ft or is it the rate at which stamp duty to be paid

    1. Both! It is the minimum rate per sqr ft and it is the rate at which stamp duty to be paid.

    2. Is there any authentic website/place where we can check actual RR rates. One more query does the RR rate change on the basis of survey number. As per my understanding RR rates are for particular area and not the survey. Please clarify.

    3. Ravi waiting for your reply bcz builder's are quoting different different rates for their projects in same area with different survey nos

    4. Enigma,
      This is the Govt link for finding RR rates in Pune :

      And do note that Govt rates are not on salable area which crook builders charge by adding terrace & loading.
      If Govt rate is 3000/sq ft, you should read it as atleast 5000-5500/sq ft as per builder. Not to forget the fancy charges which builders take like parking, floor rise, MSEB etc which only adds to actual rate.

      Agreement Value / Carpet Area is what actual rate is of builder.
      Om Carpetay Namah ! Keep chanting this mantra.

    5. Ravi. Thanks my query was in relation to what happens if the seller/builder has agreed to sale the flat lower than RR rate. If property market doesn't pickup.. You should be able to see such scenarios where builder/ investor would be trying to offload inventory

    6. Seller can sell at price lower than RR. Stamp duty must be paid at RR rate. Note that intention behind it is not to regulate prices, but to make sure that stamp duty is not evaded by showing lower agreement value. So stamp duty is levied on higher of agreement value and value as per RR.