I am an investor in Mantri Webcity Project Buyback scheme. 20% was paid as my initial contribution and 80% was released by PNBHFL bank as lump sum to the builder. Builder assured to pay the pre-emi every month and return 2x of the original contribution at the end of 3 years. We all invested in this scheme as this was floated by a so called reputed builder and backed by a national bank. Currently, I am sitting on a backlog of 5 month pre-emi that is yet to be paid by the builder. My buyback already ended in August 2016 and the builder has not returned the 2x of my original contribution yet. The so-called reputed Mantri builder has simply cheated and fooled customers in this 20:80 scheme. We’ve sent legal notice to the builder and as a next step filing a lawsuit on them for breach of contractual obligations. Unfortunately, in this country we have to resort to legal recourse to get our own money back. I would advise all potential customers/NRI buyers not to fall into this trap by Mantri builders.
I have to select 1 star in the rating below because I couldn’t provide any rating lower than that.