My name is S.Bhanuprasad. I'm going through a similar kind of trouble from the same group of builder.
On 18th January 2008,I had invested an amount of Rs.3,12,500/- as an advance booking amount, in one of their projects "New County", for a plot measuring 30X50 (1500 sq. ft.) at the rate of Rs.625/- per sq. ft. The presidency group has agreed to buy back the same plot after six months with an appreciation of 1/3rd value of the booking amount. The buy back was due on 18th july 2008. When I went to excercise this option, they said that it would take a couple of months to materialise. When insisted on committing to a definite date, I was asked to come back in the month of October 2008.
But to my utter surprise it never materialised until March 2009!, despite repeated calls and desperate attempts to meet Mr. Bhaskar reddy, in vain.
After a lot of discussion with their office staff and my repeated requests, on 4th March 2009, they agreed to issue a confirmation letter stating that they would repay the advance amount of Rs.3,12,500/- along with the appreciation at the rate of 1/3rd of the booking amount for six months, to be calculated till the date of settlement. It would be repayed on 19th June 2009. But I'm yet to recieve my money. I'm thinking of moving into the consumer court, after looking into the above said case.

My name is C.R.Sudarshan. I was approached by a marketing executive from Presidency Group to invest in their project.
On 18th Jan 2008 I invested an amount of Rs. 2,85,200/- for corner plot, plot # 460 measuring 1200 Sft. at the rate of Rs. 625/- per Sft. + 15% extra, a total consideration of Rs.8,55,600
It was agreed that the same plot would be bought by the Presidency Group after six months, with an appreciation of 1/3rd of the booking amount , as per clause 2 of the agreement. But when I went to collect my money in July 2008, they informed me that they couldn't abide and asked for some more time. They kept postponing it, giving some lame excuses. Finally, on March 2009, upon our insistance, they gave me a confirmation letter stating that they would repay the advance booking amount along with the benefits stated above, calculating the same till the date of settlement. It was agreed that they would pay this by 19th June 2009.
I'm still waiting for my hard earned money. I've now decided to drag them to consumer court, since we already have a precedence of such case.

Hi,

I also have the same problem with this developer.
I see lot of people have won the consumer case and got judgement in their favour. I want to check if anyone have got their money back even after winning the consumer case.

Thanks.

I have also paid 2.5L in Oct 06.
Kidnly help me out with this .
My number is 9910544199

I paid 3.4 Lacs in April 2007 as advance for 30*50 plot in 'Shree Enclave' near eagleton resort in Bidadi, Bangalore. Since then neither the project is approved / money is returned back, every time you ask , there is a silly reason about it. I insisted for a check, which finally bounced and I have filed a criminal case on that. Additionally I have also filed complaint in consumer court and won, but Bhaskar Reddy has not come back. Next step is to arrest him. This is my hard earned money, unfortunately stuck with these cheaters.

I too have booked a site for 30X50 in "NEW CITI", and did an agreement of sale
and gave an advance of 2.25 Lakh on 22nd Sep 2006.

Recently i visited the office after 4 months and found the office has been closed.

Need to know what to do next ????? Need HELP.

By the way there was a person working in the office of Presidency Group,
by the name of Satish who was a manager, Ph: 9945510107
He still says they will be opening the office shortly in another area in Malleshwaram, next to Halli-mane.

Only thing that comes to my mind is lodge a complaint in the Mahalaxmi Police Station.

2dsouza@in.com

Several customers in bangalore got cheated by V.Bhaskar reddy and T.R Reddy of Aiswarya projects by making false promises and duping the customers hard earned money. Now the customer who were fooled by these Reddys have formeda group and their website is [aishwaryagroup.wordpress.com]Aishwarya / Presidency Group Fooled Investors This website has pictures of V.Bhaskar reddy so that others do not get cheated by them. Beware of these two cheaters. There are several police and criminal cases pending on them.

This is to inform that We had paid Rs.400000/= as advance for a 60/40 land parcel to be allotted in Hoskote project of Aishwarya projects through Mr. Satish of Aiswarya Projects. Mr. Bhaskar Reddy has been giving dates after dates, stating political reasons and non receipt of approvals for the no development and for delay in registration. It has been more than 5 years now, even assuming a 10% return, the money would have appreciated by 60%. But due to the cheating and fraud behavior of this real estate Reddy, the money seems to be in a spin. How come people like him start companies under companies act, accept money from Public and get away with innocent investors in the hope of owning a plot/home are meted out this kind of absurd and untoward treatment. am told that the reddy's are currently under Criminal wing investigating, but who would bother about the money of small investors like us, who are yet to own a home because of the cheating by people like Bhasker Reddy. Real estate in India lacks any governance and due to the legal loop holes, people get away making heinous crimes like the above.