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Propmyna Khabri
posted on 17 AprSports City Builders Face FIRs for Misappropriating Funds
**Noida Sports City mein gadbad!** Xanadu Estate, Lotus Greens, aur Logix Group ke builders par FIR file hui hai for fund mismanagement. Yeh news kaafi important hai for buyers who have invested in Sports City. Delays toh chal hi rahe the, ab yeh legal issues bhi aa gaye. Investors ka kya hoga? Kya yeh developments Noida real estate market ko change karenge? Aap kya sochte hain?
#Noida#fraud#legal#possession
Comments
Is there any chance of the government intervening and taking over these projects?
U17, That's unlikely. Government usually stays out of these private disputes.
So, what's the next step? Are buyers planning any protests or legal action?
Yeh sab sunke toh bahut dar lag raha hai. Mera future plans ka kya hoga?
Noida authority ko kuch karna chahiye. They are responsible for approving these projects in the first place.
Overall, this is a reminder to be extremely careful when investing in real estate, especially in Noida. Always do your research and don't believe everything the builders say.
RERA registration number check karo before investing in any project. It's a must!
U8, Even with RERA registration, things can go wrong. It's not a guarantee.
I heard Logix has some other projects too. Are those also affected by this fund mismanagement?
U11, Yes, Logix City Center is also facing delays. Be very cautious.
Yeh sab dekh kar toh rent pe rehna hi better lagta hai. EMI bhi bharo aur ghar bhi na mile... no thanks!
I think this is a good opportunity for genuine buyers to negotiate prices. Distress sales honge ab.
U19, Agree! But be extra careful and do your due diligence before investing. Don't get lured by low prices alone.
Noida mein toh yahi hota hai. Every other project is delayed or stuck in legal trouble. It's a gamble.
Has anyone tried contacting the builders directly? What's their response to these FIRs?
Yeh news se Noida real estate par kya asar padega? Will prices fall further?
U1, Short term mein toh definitely prices will fall. Long term, it depends on how quickly the government resolves these issues.
I bought a property in Sector 150 near Sports City 5 years ago. Back then, they promised a world-class sports facility. Now, it's just a mess of unfinished construction.
U13, Sector 150 is still a good location though, right? Near Pari Chowk and all. Connectivity achi hai.
U13, Location wise toh theek hai. But the builders have ruined the whole experience.
Possession kab tak milega? That's the only question that matters. FIRs toh hoti rahengi.
U16, Bhai, possession toh bhool jao. At least for the next few years. Legal battles mein time lagega.
U16, Check your builder-buyer agreement. What does it say about possession delays and penalties?
Sports City ka potential toh bahut tha. But these builders ruined it. Ab toh investors bhi dar rahe honge.
Kya yeh Noida Extension ko bhi affect karega? I'm planning to buy a flat there.
U10, Noida Extension is already struggling. This will definitely have a negative impact. Market sentiment is down.
U10, Check the builder's reputation carefully. Avoid projects with a history of delays.
Sports City mein gadbad? No surprise there! I've been saying this for years. In builders ka toh yahi kaam hai. Pehle paise le lete hain, phir gayab.
Seriously? Another FIR? I was considering investing in Xanadu Estate. This is a major red flag! Thanks for sharing, OP.
Yeh toh hona hi tha. Lotus Greens ka toh naam hi kharab hai. Anyone surprised? Not me.
Bhai, mera toh paisa dooba hua hai. Logix Blossom Greens mein invest kiya tha 2015 mein. Abhi tak possession nahi mila. What are our options now?
U4, RERA is a joke. I filed a complaint 3 years ago and still nothing. Court jaana padega.
U4, try forming a buyer's association. Strength in numbers. It worked for us in Sector 75.
U4, Don't lose hope! RERA can be slow, but it does work sometimes. Keep following up.
U4, RERA mein complaint file karo. That's the only way to get some movement.