Sobha Developers, Sobha Daffodils Project Reviews & Complaints
Posted On: 28/08/2016
By: cdnath
Contact information: Sobha Developers, Sobha Daffodils Project
Bangalore South
Sobha daffodil is a wonderful project but in a mess with lots of issues. According to new CDP, there is a 24m wide road cutting right across the property.This is a new rule and not binding on private land holdings. Sobha being a listed company is not acting in a responsible corporate citizen and be fair to the investors and is not helping its residents and is requesting its residents to fight it against the Govt.Why it has not joined or champion the case indemnifying from all defects in the title to the lands passed on to the residents . Sobha is washing their hands off of this issue.Originally Sobha has charged premium with eight apartments towers and by the time of possession constructed one more tower 9 in the complex. Further the builder amassed more than 7 crores compensation received from KEB for allowing its area ceded to them without passing on to the owners. Further the project hand over process delayed due to illegal construction of Local Corporator Sri Manjunath in collusion with the one of the owners of the land. Finally compromise and court ruling came to the rescue of the builder and residents.Sobha residents are happy for the excellent infra structure created with reduced open space and continuous threats and harassment from its neighbours. The original builder and BBMP who have approved the project planning are solely responsible for the cheating, embezzlement of funds, inappropriate approvals and project layout and Local residents are asking from the private land owned by residents. Govt must protect the private land owners from this blackmail, threats from the peaceful enjoyment of the private property, unjust enrichment of Real estate sharks like Sobha Developers. Some of the old residents are aware and fighting for justice and right treatment . One of the suggestion is to acquire one share of sobha and make its voice heard in its AGM and publish and circulate to the their investors and also to report to SEBI, BSE, NSE exchange for the fraud perpetuated by Sobha In addition to file in National Consumer forum for appropriate remedy of claiming Compensatory damages, exemplary damages, name and shame them in addition to the spreading in the social media. High time the regulatory agency created center must enforce in Karnataka as well to report this first case of fraud by the developer.