SRS has come out with an offer of allotment of plots in Panchkulla. The allotment would be on draw basis. However, their scheme did not mention anything about the refund of earnest money and other deposits in case of being unsuccessful in the allotment. A clarification was sought from the company by email as reproduced below:
"Thanks for mailing the brochure. I have a clarification as below:
1. Since the allotment has been stated to be on draw basis, what is the refund of the money paid till the date of refund of money in case of unsuccessful allotment. What is the interest payable on the application fee and earnest money payment in case of unsuccessful allotment. "
Against a telephonic call from their executive, I requested the company to respond the email. However the company preferred to remain silent despite reminder. In view of their silence, the perspective buyers are requested to be careful and apply for the plot only after ascertaining the clarifications in writing to prevent themselves from possible financial losses.
Few of the reviews of the consumers who have faced complaints with SRS are quoted below:
"Affordable Group Housing Project
SRS, Sector -6, Palwal, Haryana
Flat no. A/BLOCK6/204 in name of RITU VERMA & ABHISHEK VERMA
At booking time flat cost was INR 12,50,000(12 Lakh 50 Thousand) but after 18 months of booking you have increased the basic cost to 14,97,890 (14 Lakh 97 Thousand 8 Hundred 90) without any valid, legal, govt. approved, written, mailed reason to customer WHY ?
After many phone calls and email, You are not ready to mailed/ letter disputed to me for above point, WHY ?
When you need money from customer you send mail/letters to him but when customer wants to know the reason for unknown cost increment then you can not mailed/ letter dispatch to him WHY ?
Every time you are saying, "Sir cost is increase due to Govt. License No. 117" Can you please explained (in written way), because i don't know why cost is increase after 18 months due to 117. Please detailed explained 117 ?
When i booked this flat you have mention in written in your brochette that " LICENSE RECEIVED & GOVT. APPROVED" For your quick flash back, Please see below screen shot from SRS brochure as:
So, after 18 months what is this new License 117 concept. Please explain ?
I have seen(from google source) that Palwal Sector 6 has not received License till 14th-Aug-2014. And their license status is: (For more information, Please visit: http://tcpharyana.gov.in/Policy/STATUS%20OF%20AHP%202013.pdf
"We would like to bring to your kind notice the following unnecessary demands/non compliance/unethical activities of M/s SRS Real Estate Pvt. Ltd. Faridabad, which added financial loss to the customers of over Rs. 120 Crores (Please refer to annexure 1)
1. M/s SRS has taken the booking amount of flats from various flat owners in between June to Aug’2009 without having any map approval from Directorate of town and Country planning, Haryana Government but handed over the flat allotment letters to original buyers in August 2010 without organizing any kind of open draw or intimation for the same, Initially the flats were sold as Ground plus Two Floors (G+2) architecture but on receipt of allotment letters in August 2010 we came to know about the revision in original architecture (as shown in brochure by the builder at the time of booking) as the project was changed to Ground plus three floors (G+3) architecture.
Impact on Buyers:
• With the introduction of third floor buyers are bound to pay the additional charges (Basic +EDC +IDC etc) due to revision in super built up area against the original booked flats and addition of Lifts. Monitory loss of approx 3-4 Lac for each buyer totaling Rs. 40.48 Crores.
• Builder has got benefitted due to addition of fourth floor and instead of passing on some benefit of this additional income to the original buyers the builder increased the BSP by about 3.30 Lakhs per Flat, thereby putting additional financial burden on the buyers.
Entire project and allotment of 250 Square yard flats has been further delayed by about one year due to the above process, thereby causing loss of Interest on the payment made by the buyers.
M/s SRS has shown EDC/IDC as Rs.176/ Square Feet at the time of original booking of flats in 2009 and collected the 100% amount of EDC/IDC from most of the flat owners till April 2012 but M/s SRS has sent the revised EDC/IDC demand notices (Including interest components) which is varying between Rs.373/ Sq Feet to Rs.422/Sq. Feet for Pocket#01 to Pocket#09 via their letter dated 02nd June 2012 by stating that it’s an statutory variation by Haryana Urban Development Authority and has given very short period of one month for paying the same."
"SRS real estate ltd is asking for 2.5L in interest penalty and 3.5 L additional for Super area (difference from area mentioned in allotment letter), for getting possession letter for a flat where there is still no water supply . The project has taken 4 yrs to supposed completion even though alloted time was two years. Due to this delay, the loan provider LIC cancelled the loan amount which led to agony and horrid experience in get loan reinstated (till now it is not reinstated.. that is another complaint altogether). "
"We residents of SRS Royal Hills Society Sec- 87 Faridabad got our flat registration demand letter from SRS Real Estate Pvt Ltd. Apart from Flat Registration charges SRS is also asking 4% illegal VAT from every residents on their flat value. This illegal VAT demand is Rs. 1 Lac to Rs. 1.70 Lacs per residents.
VAT demand by SRS is totally illegal because VAT case is still pending in Chandigarh High Court.
SRS is refusing to start flat registration process without submission of illegal VAT. We agree to provide legal undertaking to submit VAT in future after outcome court decision but SRS is not listening us."
"Hi I have booked a floor of 250 Sq Yards worth Rs 1946000( 1825000(BSP)+ 121000(EDC/IDC) in SRS Prime Floor Sector 6 Palwal on feb 2011. On booking builder promised us following things.. - Construction will be completed in three years. - Building will be till 2nd floor only. - ownership of roof will be for second floor owner. - All other facilites ( Swimming pool, park, Schools, hospitals etc) will be available. - Allotted us flat number also before construction ( Provisional allotment) even after three years no construction is started yet,"
"I have booked a flat in SRS pearl project in 2009, now almost 1.5 year completed to booked a flat, till now I don’t have any allotment letter received from SRS.
I had already several times visited in SRS office for allotment, they always says land is not approved and wait for 2-3 month.
Now partly land is approved after that they didn’t give me any allotment letter. Now they says you will consider in second phase allotment that will be held in next 6 month. And also SRS increase BSP price and decreases the flat build up area."
"I had applied in SRS Pearl Project Sector-87 in Faridabad. I have given the cheques for two installments.
Builder has agreed for 3rd installment to get delayed till he does the allotment subject to the condition that customer submit the sanction letter from bank for home loan.
My bank has put the objection that builder's paper work is incomplete so they will hold the sanction letter till the builder complete its paper work.
In the meantime builder send the cancellation letter to me regarding my registration."
These are some of the examples which compelled me to write review on the business of SRS. The company seems to have poor communication even does not respond to the communication as is quite evident from the communications I had before purchase decision. In view of the above stated reasons, I would advise consumers to be extra vigilant during purchase discussion and take all terms and conditions in writing to avoid further complications after purchase. The business is being rated accordingly.