Parsvnath and Omaxe
Money Stuck in two property investments

I had bought two properties in a Pre-Launch offer. Enclosed are the details -

a) Parsvnath Privilege at Greater Noida, Sector Pi, UP

a. I paid Rs 10 lakhs in cheque (15% of the total cost) to the developer in Mar but developer only launched the property in April- May.

b. I was then asked to pay remaining 10% which is Rs 3, 21, 000 which I did on 14-May and signed a Sale Deed

c. I opted for Construction linked plan for the same

From past 3 years my money is blocked. There is no update from Parsvnath neither regarding refunding me the amount nor on any progress. On a last visit to the site I saw that construction activity has been stalled from past 8 months now. There is no communication from Parsvnath whatsoever. When I talked to them last they told me that they haven't even started the the tower which I have been alloted. What can I do in such a case?

There is another property investment which I made. Following is the details -

b) Omaxe Galaxy, Sector -112, Noida, UP

a. I paid Rs 6, 00, 000 lakhs (15% of the total cost) to the developer on 15-May but till now I haven’t received a communication from Omaxe when it is going to be launched.

From past 20 months almost my money is blocked. There is no update from Omaxe and neither is a sale deed done. When I checked with few Marketing guys each one was telling a different version with some telling Omaxe has not even got a go ahead from Noida authority and so on.

I have a copy of the check which I signed and gave it to them. Also I have a letter in Omaxe letter head that they have received the amount also. I got one communication from Omaxe asking for rest (10% of the money) before they could enter into Sale Agreement. Since there is a conflicting reports from Omaxe I donot want to pay the money. Let me know what can I do in such case.

Company: Parsvnath and Omaxe
Country: India

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