Mantri Developers Reviews & Complaints

Reported By: sat5257

Contact information: Mantri Developers

Project launched in 2010, possession scheduled for March 2014. 95% payment taken on completion of last floor slab in May 2013 & project deliberately stalled thereafter. Completion being repeatedly postponed and finishing specifications being downgraded. I booked during pre-launch in Aug 2010 and have paid 95% upto May 2013 an am incurring a huge ongoing loss on investment due to the unending delays. Developer has taken the money and now appears to have no interest in properly completing the project. The top management is not accessible and the lower staff does not have any credible information. Agreements are totally one sided and unfair. As per T&C, compensation for delay is approx. Rs 6, 500 pm, whereas the interest loss on amount paid is almost Rs 100, 000 pm. Delays are totally attributable to the developers so why should we get penalized for no fault of ours. WE should get a fair & reasonable compensation for the delays & downgrading of specifications, etc.