I had invested in Milestone Fund I around 2008-09 and the company has been selling the properties from last 2 years.
The returns have been really pathetic. This company has been selling of all the properties showing a loss of around 20-30% - Selling price of property as significantly lower than the purchasing price even after holding the property for more than 6 years.
All over India the property prices have appreciated significantly in last 6-7 years and it is really hard to believe that the prime commercial properties that Milestone purchased in 2008-09 are now selling for a loss. I know that in some real estate transactions there is a cash amount involved and I am not sure if this company is honest enough towards its investors.
This in addition to the hefty management fees running in crores that Milestone charges its investors, and for what, for making losses.
To top it, there is no transparency into the running of this company. They have never published their books.