While I was searching for a decent property in the outskirts of lucknow city I came across the market reputation of the company…..and to my surprise it was worse than I could even dream of. Then I contacted one of my relative who is also big player in lucknow real estate market and he told me about the luring promise from the company agents and their stratagy. At first I thought he was trying to influence me against shine infra..,but he showed me solid proof. He has shown me a bundle of cheques of post dated cheques upto march 2018 and amounts printed on each cheque was 500000. The major points I came through him are-
He told me that the company has purchased the project lands from him but the payments are not regular, and the ownership of lands are not with the company. If the company is not the owner of a property then how can it sell that property to someone.
The owner of company has shifted his base to gulf counteries…dubai and has invested more than 200 crores there.
The agents of shine infra get approx 40% commission on each sale.
The company owner was arrested for sexual harrasment with a collegue.
He was also arrested for tax invasion and coocking the balance sheet of his company.
After visiting the site I assured them to visit their office on next day, but after coming through all the details about company I refused to buy their plot, and to lure me The agents of company offered me a discount of upto 30% on the price. They also offered me a share in every customer who comes through me.
I have also searched on internet regarding complaints about this company and found enough material for not going with this company.
I hope I have given you substantial information about the company which may help you in taking the right descision. Though I dont have any photo or solid proof but that doesnt change the truth about company.
I was also offered EMI option and registry after payment. But that is the major risk being a customer, what if they didnt gve posession after the said period or what if the flee with your payment after 2 years or so. The last thing I told them was Immediate registry and possession, on that they told me to do the registry after one week of full payment…and this part was alarming. I have had three plots registered in my name last year and all were like papers in one hand and payment in other. So now I have straightforward refused to buy or invest in their projects.