Real estate

TTD board member’s real estate firm caught in refund row – The New Indian Express

By Express press service

HYDERABAD: About 1,500 customers of Sahiti Infratec Ventures Pvt Ltd (SIVPL) tried to approach the police to complain about not being given their promised dream homes they had paid for in 2019 under the bid pre-launch of ‘Sahiti Saravani Elite’ at Ameenpur.TTD Board Member Lakshmi Narayana Bhoodati is the Managing Director of SIVPL.

According to the plaintiffs, Bhoodati made public a pre-launch bid in 2019, promising world-class equipment in the project named Sahiti Saravani Elite at Ameenpur in Sangareddy. invest in the project, hoping for a better future for us and our children. However, they have been blocking us since 2019 and the project is far from over,” some of the complainants said.

According to customers, during the pre-launch, the company mentioned that the land acquisition, permitting and execution of the project will take place soon, but this never happened. Finally, after three years of exasperating waiting, a few customers decided to cancel their reservation and asked the company to refund the amount of the reservation.

However, checks delivered by the company for the refund amount have bounced. “From then on, those 150 customers pursued the matter with SIVPL, who kept pushing the issue back, asking for more time to complete the refund,” the customers said. Meanwhile, Bhoodati has denied all the allegations.

Customers claimed that SIVPL first said refunds would be made by September 2021, then asked for time until December 2021, then January 2022, then April 2022. “They just didn’t honor their own words,” customers said.

However, a few customers said a few refund checks issued in November 2021 cleared, while a majority were rejected or were stopped by the drawer. Customers claimed that the MD had promised them that it would refund all booking amounts by March 2022.

“After repeated calls, Bhoodati Narayana scheduled a meeting with us on April 28 at his headquarters in Jubilee Hills, but the meeting never took place. We waited so long and finally decided to approach the police” , customers said.

However, when they reached the CCS to lodge their complaint, they were unable to do so since the DCP concerned was not present. Bhoodati Narayana posted a video in which he claims that “a few customers” are scaring away other customers, causing investors to withdraw from SIVPL.

“We have refunded the reservation amount requested by a few customers regardless of the Covid outbreak. Refunds for everyone who requested it will be forthcoming soon,” he said. Bhoodati added that he would hold a meeting in the next 15 days and assured clients that the funds were flowing.

HYDERABAD: About 1,500 customers of Sahiti Infratec Ventures Pvt Ltd (SIVPL) tried to approach the police to complain about not being given their promised dream homes they had paid for in 2019 under the bid pre-launch of ‘Sahiti Saravani Elite’ at Ameenpur.TTD Board Member Lakshmi Narayana Bhoodati is the Managing Director of SIVPL. According to the plaintiffs, Bhoodati made public a pre-launch bid in 2019, promising world-class equipment in the project named Sahiti Saravani Elite at Ameenpur in Sangareddy. invest in the project, hoping for a better future for us and our children. However, they have been blocking us since 2019 and the project is far from over,” some of the complainants said. According to customers, during the pre-launch, the company mentioned that the land acquisition, permitting and execution of the project will take place soon, but this never happened. Finally, after three years of exasperating waiting, a few customers decided to cancel their reservation and asked the company to refund the amount of the reservation. However, checks delivered by the company for the refund amount have bounced. “From then on, those 150 customers pursued the matter with SIVPL, who kept pushing the issue back, asking for more time to complete the refund,” the customers said. Meanwhile, Bhoodati has denied all the allegations. Customers claimed that SIVPL first said refunds would be made by September 2021, then asked for time until December 2021, then January 2022, then April 2022. “They just didn’t honor their own words,” customers said. However, a few customers said a few refund checks issued in November 2021 cleared, while a majority were rejected or were stopped by the drawer. Customers claimed that the MD had promised them to refund all reservation amounts by March 2022. the meeting never took place. We waited so long and finally decided to approach the police,” customers said. However, when they reached the CCS to lodge their complaint, they were unable to do so since the DCP concerned was not present. Bhoodati Narayana posted a video in which he claims that “a few customers” are scaring away other customers, causing investors to withdraw from SIVPL. “We have refunded the reservation amount requested by a few customers regardless of the Covid outbreak. Refunds for everyone who requested it will be forthcoming soon,” he said. Bhoodati added that he would hold a meeting in the next 15 days and assured clients that the funds were flowing.