COSMIC CORPORATE PARK – RISK OF INVESTMENT IN PROJECT BY COSMIC GROUP

Recently Came across a website where they posted the news about the realty project by Cosmic Group, Cosmic Corporate Park in Greater Noida. As the project was started in 2011 with a promise of delivering it by 2013, but the construction photographs actually depict that its no where close to construction, Apart from this also the recent news made me in panic and want to know if any of the investors in Cosmic Corporate Park have got any promising responses or even if claiming the refunds, is the company processing the refunds. IREF forum comments show that few of them managed to get refunds fearing that the project may be scrapped.

Although at the construction front the project was almost at a sleeping phase with just a few photographs showing elementary digging work going on till date, but now it will be a worrying fact for the investors, who actually were awaiting for the promising returns on their invested money. Even at the company’s end there was no promising comment of justification on their website, media appearance or on social networks, where they are managing their brand image but nothing to promise for their investors.
So investors can keep their fingers crossed and wait for the company to respond or justify and either give them some promising response or at-least in terms of the refund to them.

Indian Real Estate, both are going too unpredictable now a days with developers using unfair practices and branding strategies ot promote their projects and lure investors.

REAL ESTATE COMPLAINTS

I was interested in investing in Commercial Retail or Office Space at Business Centre in Greater Noida or Noida. Got interested in Cosmic Corporate Park, Greater Noida by Cosmic Group with another project by them Cosmic Corporate Park 2 Noida which sounds appealing to me.

But the Complaints and Reviews for Cosmic Structures creating confusion to me, what is the relation of ARN Infrastructure vs Cosmic Structures.

Even on the website they are showing up with the project in development process with construction ongoing, but reviews give altogether different picture. Just posting pictures with crude basic construction alone doesnt ensure timely delivery of project where already the project seems to be formerly with ARN Infrastructure.
Is the Project by Cosmic at Greater Noida (Cosmic Corporate Park) same project which was formerly sold by ARN Infrastructures as “Globus Business Park” as both were on same Plot No. 10 as commented by some people.

Does investing with Cosmic ensures safe investment ? Because already after ARN Infrastructure’s Globus Business Park its now represented as “Cosmic Corporate Park” but still the construction is on elementary phase or its just to come up with some photographs to show that something is going on.

Kindly provide suggestions and reviews because lot of other options in Greater Noida also available. Will appreciate if someone also provide reviews on other projects Ansal Corporate Park, Stellar Business Park, Ansal API, Earth Tech One, Imperia Business Park.

Which of these could prove to be safe and best investment opportunity

Source : http://www.consumercomplaints.in

Slum dwellers storm Hiranandani Gardens and demand their land

Hundreds of slum dwellers storm into Hiranandani Gardens today.

• Complaint filed with Powai Police Station to file FIR for cheating, dishonesty and breach of trust against Shri Niranjana Hiranandani.

• Goons of Hiranandani builder unsuccessfully attempt to disrupt the rally.

Today hundreds of representative slum dwellers from all over Mumbai stormed into the illegal Hiranandani Gardens demanding demolition of the illegal buildings. While Ashok Chavan, Chief Minister of Maharashtra few days back commenting upon demolition of Anna Bhau Sathe Nagar had commented that illegal construction particularly of slums could not be tolerated. Slum dwellers today challenged him and questioned him that how he being the head of the State could tolerate and not take action against Hiranandani’s.

It is worth mentioning that after the disclosure of Hiranandani scandal MMRDA had recommended imposition of fine of Rs 2000 crores, which Urban Development headed by the Chief Minister reduced to Rs 200 crores. Slum dwellers questioned the same and demanded an explaination.

Sitting outside the Corporate Office of Hiranandani Developers Nasreen Bano of Mandala lamented the fact that the Government of Maharashtra was kind enough to give 300 Acres to HIranandani at the rate of 40 paisa per acre but was reluctant to give 50 acres of Mandala land at 100 times more the price.

Slum dwellers from Anna Bahu Sathe Nagar, Mulund were joined in by Tribals from the nearby Aarey Colony where in spite of living there for generations, today they were being declared as ‘encroachers’.

Slum dwellers exposed the corrupt nexus that is prevailing amongst the builders-bureaucrats-political-financial institutions.