Mantri Developers July 11, 2012 Bangalore, Builders Reviews, Properties 104 Comments Mantri Developers1.4Overall ScoreReader Rating: (26 Votes)Mantri Developers Reviews Mantri Developers was established by Mr. Sushil Mantri in 1999. The company is one of India’s leading developers of IT parks, world class homes, educational institutions and retail spaces. Since the time the company was formed, it has around 30,000 content residents. Apart from this, it has also constructed 20 projects and to its acclaim over 10 million square feet constructed area and over another 8 million square feet which are under various stages of construction. Mantri Developers made a modest start a good 12 years back. It was that time of the year when Mr. Sushil Mantri had migrated to Bangalore with an intention to start the company. Mantri Builders functions with a vision on the values of Punctuality, Quality, Reliability, Speed, and Transparency (PQRST). Besides, the company has further plans and intends to concentrate on the retail, residential sector, IT Parks, hospitality and educational institutions in Chennai, Bangalore, Pune and Hyderabad. The company works with a motto of following a consumer centered measure with six key differentiators: On time every time, Home Care, Highest Carpet Area, Attention to Detail, Award Winning Landscapes and Creating Communities. Customers can share their issues or complaints about Mantri Developers Projects Website : Click Here 104 Responses « Older Comments sujit September 26, 2017 I took 80/20 scheme all money has been disposed to Mantri ,they are not paying installments since 1 year and now bank is behind me , I also dont have money to pay , Please sign change.org , search for Mantri . Reply Jaxon-Philips October 24, 2017 I booked a 2bhk at the Mantri Webcity and because of the flaws in the paper work and the fact that the customer will always be at the receiving end, I decided to cancel. Now they won’t return the money. I’ll be filing a complaint with RERA on 25-Oct-2017. Please stay away from Mantri Projects. They do not have the funds and are waiting for the customers to pay so that they can put that money into new projects Reply Debolina December 7, 2017 I raised a complaint with RERA CMP/171128/0000276. As expected now they do not want to give the money back. The lawyer that I discussed this with has recommended that I do not go with Mantri’s project since they have financial issue. With all the legal issues and penalties that they have to pay RERA and BBMP they will go bankrupt shortly. PLease do not go with any Projects of Mantri. They are simply trying to get as much as they can to stay afloat. You would have seen their amazing offers now. 1% down payment only to own your dream home Sathva June 25, 2017 Mantri Developers’ No EMI Scheme : Beware Mantri developers has put hoardings in Bangalore and full page newspaper ads about a “NO EMI offer” in three of their projects (refer attachment). This might be too tempting to invest. First. this is not the first time Mantri Developers is offering this scheme. This scheme was first offered in 2013-2014 time frame. And despite cheating customers through this scheme earlier, they’re still continuing to offer this scheme in the market. I am posting this message in the interest of general public to warn buyers about this ponzy scheme. The way the scam works is like this. You will pay a down payment. You will then get a loan for the rest of the flat cost and give the loan money to Mantri as a lumpsum amount upfront. Mantri Developers will assure you that they will pay pre-emi for the loan till possession. They will also give you an agreement in a sheet of paper that they will pay the pre-emi. In reality, Mantri developers will stop paying the pre-emi after few months. And since the loan is in your name, if you dont pay the pre-emi then your loan will default and your CIBIL score will decrease. There are 100s of consumers who bought flats in Mantri’s projects in 2014-2015 time frame in the No-EMI offer scheme. Mantri developers has not paid 7 months pre-emi for all of them currently. Several people couldn’t bear the cash crunch and have defaulted on their EMI. Those buyers who defaulted have also received legal notice from the bank for the default. Their CIBIL score has gone for a loss. Moreover the original agreement was that the builder will pay pre-emi till a certain possession date. Now the possession date for all webcity towers has been delayed by more than 2-3 years. Builder is not continuing the pre-emi for the delayed period and buyers are forced to pay pre-emi during the delayed period. My advice to prospective buyers is to avoid buying flats in this scheme. The developer is exploiting the legal loopholes in our country to lure new buyers/customers to buy flats in this scheme. Would advice people to buy fully constructed flats that’s ready for registration and has proper OC instead of putting your hard earned money in such innovative schemes Reply Gautam October 22, 2017 pls do not fall prey to Mantri’s no EMI scheme …… I had bought a property in 2010, where in they were to give me possession in 2013 and also pay my EMI till possession, but they haven’t paid my EMIs for the last 2 years and neither have i got possession yet!!!!! Reply xyz May 15, 2017 Not good builder. CRM is pathetic. Maintenance do not take care your the construction faults/ plumbing issues. They don’t give possession in ready / move in condition. You have to spend huge money to overcome issues yourself. Garbage are not cleaned from flat. Construction is not taken care properly. Not recommended. Reply Celestia buyer April 14, 2017 Mantri is a useless builder.They have a team of experts who are expert in deceiving people.I think the Mantri team should work towards completion of projects rather than threatening and blackmailing the innocents.Mantri group has lost all the credibility and trust.None of their projects is running on time.The minimum delay for any project is atleast 5 years.Don’t buy any property from Mantri builders. Reply Satish August 30, 2016 I have booked Mantri Webcity 3 years back. Initially they agreed to get on Jul 2016 then told us, will get it in Nov 2017. Now again saying 2019. Currently they have completed 2 Floors in my tower out of 22 since 2014. I am suggesting eveeryone like don’t buy flat from Mantri and buy with local vendor which is already completed. Reply Prathima August 24, 2016 We have booked a flat in Mantri serenity in pre emi scheme. We have already paid 3 pre emi but not even a single pre emi is credited to our account. I suggest not to go with pre emi scheme. It is of no use. You will loose your time and energy for follow up Reply Samarth July 25, 2017 Same issue with me as well Reply dfd September 8, 2017 MANTRI IS GOING BANKRUPT – DON’T BUY FROM NANTRI APARTMENT WILL NOT BE COMPELTED Sai Pramod August 24, 2016 Mantri WebCity investors are being cheated to the tune of HUNDREDS of CRORES of rupees. The investors trusting the brand name have invested in their property. They had this scheme of BUYBACK and promised to pay 2x to the investors by a specified date. They also promised to pay PRE-EMI to the BANKs. Now, they have defaulted on the BUYBACK as well as PRE-EMIs. They have left a lot of FAMILIES in DISTRESS. Many people are being haunted by the bankers to pay the money which they dont have. Mantri developers is cheating gullible investors. Reply RD SHARMA June 27, 2016 I bought a plot in mantri city Gwalior. Paid 95% Not yet registered. What will ahppen God knows, The group is said to be bank corrupt. Will some one suggest, Reply Shiva Shanakri February 11, 2016 Don’t believe Mantri. They are robbing me. I invested in pre launched property Mantri energia 1 year back. They said agreement will be signed in 20 days. They gave a LOI mentioning if the work is not done then they will pay 9% SI. After 1 year they gave the agreement with a penalty clause which says in case of delay they will pay 3000 rupees/month with the entire cost of 80 lakhs from us. Many of Mantri’s projects are getting delayed by 2 to 2.5 yrs. When I asked to cancel and return the money leave alone 9% they are not returning the amount I paid and giving many technical clauses which common man cannot understand!!!!!!!!! They will go nowhere and fall to pitch if they are looting people of their hard earned money Reply Another Victim of Alpyne January 5, 2016 Shocker from Mantri Alpyne Project is delayed from 2014-06 till 2016-01. Now people in dire streets paying EMI / Rent and new year shocker on 02-Jan-2016 that Water and Electricity are not in and those who would like to take possession are required to pay flat utility charges. Customers are the victims of their poor management. Coin words for MANTRI taking customers for a ride. Email from Mantri Developers “In continuation to our possession letter sent you on 30.12.2015, we hereby clarify you that, the electric charges applicability for the 1st three months and after 4th Month of taking the possession that is from 01st January 2016 to 31st March 2016 and after 31st March 2016 is as follows:- The charges which our management is decided are 1. 9,700/- for 2BHK 2. 12,400/- for 3BHK 3. 16,800/- for Penthouses Out of the above defined charges, we have made exemption for your convenience and same is also for your reference:-” Wait, there is still yet another shocker too, Water charges some 3k per month and not taking possession, customers will be penalized Rs. 5000/- per month. Irony is 1) Delay in possession from 2014-06 2) Flat Electric and Water Charges customers have to pay from Jan-2016 Mantri should pay customers for the delay based on each passing Month instead Joke is “Customer will be Penalized for not taking possession” Ha Ha Ha Reply Lalith January 6, 2016 OMG, We can live luxuriously as tenant instead of buying into such too high cost flat and what are those charges it’s really very hard believe. And if the delay in construction also should customer pay the maintenance charges? However, this builder is not for the middle-class families, they can’t pay such extra charges. Reply Vipul February 8, 2016 The situation is the same at Mantri Webcity. Now they want additional amount for piped gas connection which was never mentioned till date. The quality of interior fittings is of low quality. Can all we owners join hands and talk to these cheater company, otherwise they will keep fleecing our hard earned money. Reply Raju March 16, 2016 Collect all residents of Mantri webcity. Form a legal association & then fight. you will win your case. The quality is very poor. SSRao October 15, 2015 I have purchased a flat in Mantri Lithos in Manyatha tech park in Pre EMI scheme. We can not believe them. I think it is really hard to get the pre EMI amount every month. They do not have any corporate values. Reply FrustratedMantriBuyer October 22, 2015 Mantri Builder is Big Fraud – Mantri Celestia Hyd is delaying for more then 5 years(total 8 years) Reply Chandhan December 8, 2015 That’s why I always suggest my friends to buy ready to move flats. Whenever we commit to buy a flat with the well known company Mantri, you’re expecting only good quality home within shortest time. How can, it is possible? to complete a good quality home it will take more time. If you can’t wait for the such long period, then buy a ready to move flats. Kiran January 4, 2016 You’re absolutely right Chandhan, when we buy a flat in such a branded builder, we should go for the ready to move project, if we get home loan also we can pay easily otherwise we struggle. Jayanth January 11, 2016 That’s why, if it’s delay also I will wait and buy flat in ready to move the project. But if we stuck in under construction projects, we don’t know exactly when will be the project completes. SS Rao is the best example who facing the problem now. Reply Johny January 15, 2016 How can you say buying a ready to move flats are the best decision? If you buy ready to move flats are very costly and it’s almost double price than the under construction project flat. If you make a proper agreement while booking flat, then if delay in completion of the project they will pay rent or interest to your money. So according to me buying a ready to move flat is not worthy. Rubica August 6, 2015 These are stories about the people who have bought an apartment. I am keen to rent in apartment there. To my surprise Mantri developers allows only one dedicated vendor to do the rentals who runs this entire property as his own and to his whims and fancy. I am unable to rent in very well knowing their are many available but this vendor holds up the apartments to create an unnatural demand for them in the market increasing its value to a whopping 90 k of rent a month. The irony is that the owners association allows this kind of hanky panky stuff willing to lose out a few months of rent. It will be interesting to watch how their market slides rock bottom once the phase 2 of APR and Embassy Pristine are ready to move in. I am an owner of a Mantri apartment in Hyderabad and have seen the prop care of Mantri do the similar hanky panky stuff there too ! Reply Dr. Kiran May 23, 2015 Absolutely sir. I agree with you. I am also just another sufferer in this scam.Is there any penalty they pay for the delay? So when is their next so called possession date? Initially it gave me a lot of excitement but after an almost 2 year delay I really feel I have committed the greatest mistake of my life. Another name of extortion is Mantri developers. Reply manjunath April 30, 2015 One of the best developers in bangalore is mantri developers i will always go with mantri developers for good quality and safety Reply Preetham November 18, 2015 Of-course those who got a flat within a time they may agree with your words, but what about the others, those who have waited for 3 years and four years. They may be the best in quality of construction, but why they are making too-much delay? Reply Harikrishn December 1, 2015 You’re right, customers who got procession within the time, they don’t have any issues on delay and quality. Mantri they don’t compromise on quality why they are compromising on time. MantriPremero April 28, 2015 Sunil Mantri is Cheating with Customer took more then 90 per and 3 years delay, Stil there is no dead line or poject. Reply Heena March 26, 2015 We purchased Mantri serene flat A-908 in August 2013 and were assured that the final delivery would be offered by dec or max jan 2014.. Accordingly we aligned our finances with respect to rent and EMIs. Moreover, 85% payment was demanded in dec 2013, stating that project is delayed by a few months. With that in consideration we were told and we believed that delivery would happen max by mar-apr 2014 The next demand letter for 90% payment was dated August 2014. Since we were already following up with Mantri sales team for final date of possession and were not getting any clear updates from them, I kept telling them that anymore payments only when I got clarity on final delivery.. But they did not give us any timelines and instead they blackmailes us that they would charge us interest on that if not paid. We eventually succumbed and made teh payment. In dec 2014, they asked for 100% payment for softt possession and upon asking final date again blackmailed us with charging interest. Though the payment was made, even now they are not mentioning final date of possession to us.. So my advice- Dont go for these life sucking builders who will eventually take you for granted like this and all you will do is run around and ask them for final date of delivery!! Reply Fiz August 23, 2015 Dear all, do not buy any mantri property. Most of the projects are delayed by over 2 years. I have booked their flat at Mantri webcity, Hennur and i have heard workers and contractors are not paid. Mantri is going bankrupt similar to Unitech and other famous builders. Project is delayed by almost 2 years and looking at current progress it would take 3 years to complete. It is warning for you to not waste your hard earned money buying a property from a builder who cannot be trusted. They have given Jan 2015 as position date, now its September 2015. Looking at the current progress the property wont get completed by Jan 2017. They would offer lucrative pre payment option and take entire flat value (100 % flat payment). Later once the date of position is reached pre payment is stopped and you wont get your position and you would end up paying EMI on 100 % flat value. THIS IS A WARNING DO NOT BUY ANY FLATS WITH Mantri Developers Pvt Ltd. Reply SANDEEP October 16, 2014 Hi Guys I booked flat in Webcity under 20-80 plan .Mantri such a useless dirty builders playing around with our money .I am fighting with them every month for PEMI and possession dates .When i booked they said they will deliver in Jan 2015 based on that i have signed PEMI document and it clearly says that they will pay till December2014 .Now the catch is they have not given me any possession dates in writing only verbal conversation with some uneducated managers . NEVER TRUST OR RECOMMEND MANTRI DEVELOPERS THEY ARE CHEATERS Shame less people playing around with our harden money . Regards Reply Anand Singh September 7, 2015 Hi… Saw your comment. Are you still facing an issue with the pre-emi payment? Please share your tel no… I am intending to buy one and you opinion will help me Regards, Anand Reply Mahu October 25, 2015 Hi. I have bought in Mantri Webcity – phase 1. There has been a big delay in possession. Currently they have assured hand over for interiors by 1-Nov and final possession by 1-Jan. I intend to sell the property. Do let me know if you are interested. I will be giving you a good price- better than the builder. If interested, pls send an email to me at rmdesh at yahoo dot com. pankaj August 2, 2014 Planning to go for Webcity, Hennur. But the PEMI scheme appears to be fishy after reading the posts. Not sure whether to continue. Reply Balaji Sankaran November 2, 2015 Do not go… if still want, please go for regular loan. May save some energy and time. Reply Mac November 12, 2015 Do not go with the builder… As of now, only the Parcel 1 (blocks A to E) has any possibility of getting delivered in first half of 2016 (which will mean 18 months delay). Other parcels – I understand will be delayed by a minimum of 3 year! If you still want to go, I have a property in Parcel 1 – willing to sell for less than what Mantri is offering. Note – there will be no pre emi’s, no nothing… (well, that’s the situation Mantri has put us buyers in!). Reply Rajashekar April 9, 2017 Hi, Are you still planning to sell? Please advise your email Alpyner June 27, 2014 I have purchased a flat in Alpyne project and the experience so far has been terrible to say the least. The phase-1 of the project was supposed to be handed over this month and to our horror just yesterday we received a letter indicating a delay of 6 months. Mantri management do not have any sense of project management, customer care & service. I wish I had not invested in a Mantri project. The quality, service, commitment all going down hill..I will not be surprised if they are reduced to a road side builder soon…they deserve to be ignored and dumped. If you are planning to invest in a mantri project, my advice is STOP…even a small builder will have more systems & method than this so called äward winning”builder…Tags: Mantri, Alpyne, UttarahaLLi, Cheat, builder Reply Anish June 27, 2014 Mantri Alpyne : Delay in Possession Date of Phase 1 for more than 6 months. Not sure whats going on with mantriiiii…. Reply K N Chandrashekar April 28, 2014 mantri serenity flats @ kanakapura road have not come up as assured.The trustworthiness and credibility of Mantri group will be at stake if immediate action is not taken to distribute pre-EMI amt on time and construction of flats.It is necessary to understand the frustration of the investor by the Mantris instead of simply giving reasons. Reply vinoth April 1, 2014 One of the best Developer in bangalore is Mantri develpers. Even the costs of the apartments are high, the amenities provided by them are really Fantanstic(world class). They delivered me my flat with in time. For the luxurious apartments in Bangalore, i can prefer Mantri Developers. Reply Sampath Kumaran March 19, 2014 I have paid full amount for a 3 bed room apartment in Mantri Alpyne BSK 5th Stage which is under construction and entered into a contract with Mantri Developers for receiving the PEMI reimbursement every month until the apartment is handed over to me in Jan.2014. But the Reimbursements are not credited to my bank account since 2 months and I hear only indifferent responses from the project managers, Many phone calls, e-mails on this subject have not yielded any positive results. I just do not understand how can a corporate be so insensitive to customer complaints and hope to do well in future! I am contemplating to approach consumer forum if Mantri continues to ignore its commitments. Reply K N Chandrashekar February 25, 2014 mantri serenity,kanakapura road,bangalore project for which full money collected during 2013 year begining stating that project will commence from july 2013 and will be completed by end 2015.But nothing has happened;project yet to be started and postponing due to various reasons.Even pre-emi (80%)amt as promised is not credited well in time and putting customers in a fix.Many people who sold their houses/pledged or sold jewellery/taken loan from various sources are finding it extremely difficult with out money and flat as promised by mantri.It is their duty and responsibility to ensure customers that they must abide by what they assure and simply do not force upon customers and tell them due to force majeure conditions delay is unavoidable and pre-emi amt delay may be restored properly on time. Reply YOGENDRA October 25, 2013 It was my good luck i have bought our flat from mantri developers & builder in very good reasonable cost price. Before one year i came here to saw their project in E- city Bangalore. And after seen this project of them i get satisfied to their quality work. Whole building design is totally different with other Indian home I think it is foreign building structure. I have lot of amenities as good parking space, children play area, common swimming pull etc. one of my uncle was also had bought their home from mantri developers than one was also fantastic in everything. And first time we got impressed to them after seen our uncle flat Reply Pankaj Awadiya October 10, 2013 Hi, I am Pankaj Awadiya. I have recently bought a home in the project of mantri developers I want to say I am honestly impressed with mantri developers quality of construction as well as with their customer relationship, my experience was truly exciting. They had so many flats in various locations, all modern amenities, reasonable cost prices, service and innovative features like flexible kitchen, common party hall, covered swimming pool etc. I really wish that the company becomes a success and set an example for other companies who would provide affordable prices with top quality. I truly thanks to these kinds of organizations. As far as my flat is concerned I am happy till now. I get updates on the project progress and other information about registration, MOU etc. I wish a very good luck for mantri developers and its dedicated and honest employees. Reply Mantu July 14, 2013 Hi Ramchi, I paid more 100% of my money in Mantri celestia Hyderbad( because they gave offer of 3.3 lacs but they told they will adjust this money when they will hand over.) so I can say I paid more then 100%. and when they complete all the floor they stoped wall work and interior work completely..Don’t know what the hell this builder are doing..Mantri is big Cheaterrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr. Reply shanker July 13, 2013 The Mantri Glades project was meant to be completed by Nov’13. However, I find that the construction has halted since May’13. Given to understand that there will be a 5-6 months delay in handover but no valid reason given till date. Are there other Glades-owners who are agreived? Reply BBM August 12, 2013 I am also an owner in mantri glades. The delay and the way communiction is being handled by Manti is pathetic. I wish all glades owners get connected/meet/discuss and take it up with Mantri. Reply A V Shankar May 7, 2016 mantra builder project Glades not yet ready for possession. They are not sure when they are going to provide the occupation certificate and completion of other statutory requirements Reply « Older Comments Leave a Reply Cancel Reply Your email address will not be published. Name* Email* Website Comment
sujit September 26, 2017 I took 80/20 scheme all money has been disposed to Mantri ,they are not paying installments since 1 year and now bank is behind me , I also dont have money to pay , Please sign change.org , search for Mantri . Reply
Jaxon-Philips October 24, 2017 I booked a 2bhk at the Mantri Webcity and because of the flaws in the paper work and the fact that the customer will always be at the receiving end, I decided to cancel. Now they won’t return the money. I’ll be filing a complaint with RERA on 25-Oct-2017. Please stay away from Mantri Projects. They do not have the funds and are waiting for the customers to pay so that they can put that money into new projects Reply
Debolina December 7, 2017 I raised a complaint with RERA CMP/171128/0000276. As expected now they do not want to give the money back. The lawyer that I discussed this with has recommended that I do not go with Mantri’s project since they have financial issue. With all the legal issues and penalties that they have to pay RERA and BBMP they will go bankrupt shortly. PLease do not go with any Projects of Mantri. They are simply trying to get as much as they can to stay afloat. You would have seen their amazing offers now. 1% down payment only to own your dream home
Sathva June 25, 2017 Mantri Developers’ No EMI Scheme : Beware Mantri developers has put hoardings in Bangalore and full page newspaper ads about a “NO EMI offer” in three of their projects (refer attachment). This might be too tempting to invest. First. this is not the first time Mantri Developers is offering this scheme. This scheme was first offered in 2013-2014 time frame. And despite cheating customers through this scheme earlier, they’re still continuing to offer this scheme in the market. I am posting this message in the interest of general public to warn buyers about this ponzy scheme. The way the scam works is like this. You will pay a down payment. You will then get a loan for the rest of the flat cost and give the loan money to Mantri as a lumpsum amount upfront. Mantri Developers will assure you that they will pay pre-emi for the loan till possession. They will also give you an agreement in a sheet of paper that they will pay the pre-emi. In reality, Mantri developers will stop paying the pre-emi after few months. And since the loan is in your name, if you dont pay the pre-emi then your loan will default and your CIBIL score will decrease. There are 100s of consumers who bought flats in Mantri’s projects in 2014-2015 time frame in the No-EMI offer scheme. Mantri developers has not paid 7 months pre-emi for all of them currently. Several people couldn’t bear the cash crunch and have defaulted on their EMI. Those buyers who defaulted have also received legal notice from the bank for the default. Their CIBIL score has gone for a loss. Moreover the original agreement was that the builder will pay pre-emi till a certain possession date. Now the possession date for all webcity towers has been delayed by more than 2-3 years. Builder is not continuing the pre-emi for the delayed period and buyers are forced to pay pre-emi during the delayed period. My advice to prospective buyers is to avoid buying flats in this scheme. The developer is exploiting the legal loopholes in our country to lure new buyers/customers to buy flats in this scheme. Would advice people to buy fully constructed flats that’s ready for registration and has proper OC instead of putting your hard earned money in such innovative schemes Reply
Gautam October 22, 2017 pls do not fall prey to Mantri’s no EMI scheme …… I had bought a property in 2010, where in they were to give me possession in 2013 and also pay my EMI till possession, but they haven’t paid my EMIs for the last 2 years and neither have i got possession yet!!!!! Reply
xyz May 15, 2017 Not good builder. CRM is pathetic. Maintenance do not take care your the construction faults/ plumbing issues. They don’t give possession in ready / move in condition. You have to spend huge money to overcome issues yourself. Garbage are not cleaned from flat. Construction is not taken care properly. Not recommended. Reply
Celestia buyer April 14, 2017 Mantri is a useless builder.They have a team of experts who are expert in deceiving people.I think the Mantri team should work towards completion of projects rather than threatening and blackmailing the innocents.Mantri group has lost all the credibility and trust.None of their projects is running on time.The minimum delay for any project is atleast 5 years.Don’t buy any property from Mantri builders. Reply
Satish August 30, 2016 I have booked Mantri Webcity 3 years back. Initially they agreed to get on Jul 2016 then told us, will get it in Nov 2017. Now again saying 2019. Currently they have completed 2 Floors in my tower out of 22 since 2014. I am suggesting eveeryone like don’t buy flat from Mantri and buy with local vendor which is already completed. Reply
Prathima August 24, 2016 We have booked a flat in Mantri serenity in pre emi scheme. We have already paid 3 pre emi but not even a single pre emi is credited to our account. I suggest not to go with pre emi scheme. It is of no use. You will loose your time and energy for follow up Reply
dfd September 8, 2017 MANTRI IS GOING BANKRUPT – DON’T BUY FROM NANTRI APARTMENT WILL NOT BE COMPELTED
Sai Pramod August 24, 2016 Mantri WebCity investors are being cheated to the tune of HUNDREDS of CRORES of rupees. The investors trusting the brand name have invested in their property. They had this scheme of BUYBACK and promised to pay 2x to the investors by a specified date. They also promised to pay PRE-EMI to the BANKs. Now, they have defaulted on the BUYBACK as well as PRE-EMIs. They have left a lot of FAMILIES in DISTRESS. Many people are being haunted by the bankers to pay the money which they dont have. Mantri developers is cheating gullible investors. Reply
RD SHARMA June 27, 2016 I bought a plot in mantri city Gwalior. Paid 95% Not yet registered. What will ahppen God knows, The group is said to be bank corrupt. Will some one suggest, Reply
Shiva Shanakri February 11, 2016 Don’t believe Mantri. They are robbing me. I invested in pre launched property Mantri energia 1 year back. They said agreement will be signed in 20 days. They gave a LOI mentioning if the work is not done then they will pay 9% SI. After 1 year they gave the agreement with a penalty clause which says in case of delay they will pay 3000 rupees/month with the entire cost of 80 lakhs from us. Many of Mantri’s projects are getting delayed by 2 to 2.5 yrs. When I asked to cancel and return the money leave alone 9% they are not returning the amount I paid and giving many technical clauses which common man cannot understand!!!!!!!!! They will go nowhere and fall to pitch if they are looting people of their hard earned money Reply
Another Victim of Alpyne January 5, 2016 Shocker from Mantri Alpyne Project is delayed from 2014-06 till 2016-01. Now people in dire streets paying EMI / Rent and new year shocker on 02-Jan-2016 that Water and Electricity are not in and those who would like to take possession are required to pay flat utility charges. Customers are the victims of their poor management. Coin words for MANTRI taking customers for a ride. Email from Mantri Developers “In continuation to our possession letter sent you on 30.12.2015, we hereby clarify you that, the electric charges applicability for the 1st three months and after 4th Month of taking the possession that is from 01st January 2016 to 31st March 2016 and after 31st March 2016 is as follows:- The charges which our management is decided are 1. 9,700/- for 2BHK 2. 12,400/- for 3BHK 3. 16,800/- for Penthouses Out of the above defined charges, we have made exemption for your convenience and same is also for your reference:-” Wait, there is still yet another shocker too, Water charges some 3k per month and not taking possession, customers will be penalized Rs. 5000/- per month. Irony is 1) Delay in possession from 2014-06 2) Flat Electric and Water Charges customers have to pay from Jan-2016 Mantri should pay customers for the delay based on each passing Month instead Joke is “Customer will be Penalized for not taking possession” Ha Ha Ha Reply
Lalith January 6, 2016 OMG, We can live luxuriously as tenant instead of buying into such too high cost flat and what are those charges it’s really very hard believe. And if the delay in construction also should customer pay the maintenance charges? However, this builder is not for the middle-class families, they can’t pay such extra charges. Reply
Vipul February 8, 2016 The situation is the same at Mantri Webcity. Now they want additional amount for piped gas connection which was never mentioned till date. The quality of interior fittings is of low quality. Can all we owners join hands and talk to these cheater company, otherwise they will keep fleecing our hard earned money. Reply
Raju March 16, 2016 Collect all residents of Mantri webcity. Form a legal association & then fight. you will win your case. The quality is very poor.
SSRao October 15, 2015 I have purchased a flat in Mantri Lithos in Manyatha tech park in Pre EMI scheme. We can not believe them. I think it is really hard to get the pre EMI amount every month. They do not have any corporate values. Reply
FrustratedMantriBuyer October 22, 2015 Mantri Builder is Big Fraud – Mantri Celestia Hyd is delaying for more then 5 years(total 8 years) Reply
Chandhan December 8, 2015 That’s why I always suggest my friends to buy ready to move flats. Whenever we commit to buy a flat with the well known company Mantri, you’re expecting only good quality home within shortest time. How can, it is possible? to complete a good quality home it will take more time. If you can’t wait for the such long period, then buy a ready to move flats.
Kiran January 4, 2016 You’re absolutely right Chandhan, when we buy a flat in such a branded builder, we should go for the ready to move project, if we get home loan also we can pay easily otherwise we struggle.
Jayanth January 11, 2016 That’s why, if it’s delay also I will wait and buy flat in ready to move the project. But if we stuck in under construction projects, we don’t know exactly when will be the project completes. SS Rao is the best example who facing the problem now. Reply
Johny January 15, 2016 How can you say buying a ready to move flats are the best decision? If you buy ready to move flats are very costly and it’s almost double price than the under construction project flat. If you make a proper agreement while booking flat, then if delay in completion of the project they will pay rent or interest to your money. So according to me buying a ready to move flat is not worthy.
Rubica August 6, 2015 These are stories about the people who have bought an apartment. I am keen to rent in apartment there. To my surprise Mantri developers allows only one dedicated vendor to do the rentals who runs this entire property as his own and to his whims and fancy. I am unable to rent in very well knowing their are many available but this vendor holds up the apartments to create an unnatural demand for them in the market increasing its value to a whopping 90 k of rent a month. The irony is that the owners association allows this kind of hanky panky stuff willing to lose out a few months of rent. It will be interesting to watch how their market slides rock bottom once the phase 2 of APR and Embassy Pristine are ready to move in. I am an owner of a Mantri apartment in Hyderabad and have seen the prop care of Mantri do the similar hanky panky stuff there too ! Reply
Dr. Kiran May 23, 2015 Absolutely sir. I agree with you. I am also just another sufferer in this scam.Is there any penalty they pay for the delay? So when is their next so called possession date? Initially it gave me a lot of excitement but after an almost 2 year delay I really feel I have committed the greatest mistake of my life. Another name of extortion is Mantri developers. Reply
manjunath April 30, 2015 One of the best developers in bangalore is mantri developers i will always go with mantri developers for good quality and safety Reply
Preetham November 18, 2015 Of-course those who got a flat within a time they may agree with your words, but what about the others, those who have waited for 3 years and four years. They may be the best in quality of construction, but why they are making too-much delay? Reply
Harikrishn December 1, 2015 You’re right, customers who got procession within the time, they don’t have any issues on delay and quality. Mantri they don’t compromise on quality why they are compromising on time.
MantriPremero April 28, 2015 Sunil Mantri is Cheating with Customer took more then 90 per and 3 years delay, Stil there is no dead line or poject. Reply
Heena March 26, 2015 We purchased Mantri serene flat A-908 in August 2013 and were assured that the final delivery would be offered by dec or max jan 2014.. Accordingly we aligned our finances with respect to rent and EMIs. Moreover, 85% payment was demanded in dec 2013, stating that project is delayed by a few months. With that in consideration we were told and we believed that delivery would happen max by mar-apr 2014 The next demand letter for 90% payment was dated August 2014. Since we were already following up with Mantri sales team for final date of possession and were not getting any clear updates from them, I kept telling them that anymore payments only when I got clarity on final delivery.. But they did not give us any timelines and instead they blackmailes us that they would charge us interest on that if not paid. We eventually succumbed and made teh payment. In dec 2014, they asked for 100% payment for softt possession and upon asking final date again blackmailed us with charging interest. Though the payment was made, even now they are not mentioning final date of possession to us.. So my advice- Dont go for these life sucking builders who will eventually take you for granted like this and all you will do is run around and ask them for final date of delivery!! Reply
Fiz August 23, 2015 Dear all, do not buy any mantri property. Most of the projects are delayed by over 2 years. I have booked their flat at Mantri webcity, Hennur and i have heard workers and contractors are not paid. Mantri is going bankrupt similar to Unitech and other famous builders. Project is delayed by almost 2 years and looking at current progress it would take 3 years to complete. It is warning for you to not waste your hard earned money buying a property from a builder who cannot be trusted. They have given Jan 2015 as position date, now its September 2015. Looking at the current progress the property wont get completed by Jan 2017. They would offer lucrative pre payment option and take entire flat value (100 % flat payment). Later once the date of position is reached pre payment is stopped and you wont get your position and you would end up paying EMI on 100 % flat value. THIS IS A WARNING DO NOT BUY ANY FLATS WITH Mantri Developers Pvt Ltd. Reply
SANDEEP October 16, 2014 Hi Guys I booked flat in Webcity under 20-80 plan .Mantri such a useless dirty builders playing around with our money .I am fighting with them every month for PEMI and possession dates .When i booked they said they will deliver in Jan 2015 based on that i have signed PEMI document and it clearly says that they will pay till December2014 .Now the catch is they have not given me any possession dates in writing only verbal conversation with some uneducated managers . NEVER TRUST OR RECOMMEND MANTRI DEVELOPERS THEY ARE CHEATERS Shame less people playing around with our harden money . Regards Reply
Anand Singh September 7, 2015 Hi… Saw your comment. Are you still facing an issue with the pre-emi payment? Please share your tel no… I am intending to buy one and you opinion will help me Regards, Anand Reply
Mahu October 25, 2015 Hi. I have bought in Mantri Webcity – phase 1. There has been a big delay in possession. Currently they have assured hand over for interiors by 1-Nov and final possession by 1-Jan. I intend to sell the property. Do let me know if you are interested. I will be giving you a good price- better than the builder. If interested, pls send an email to me at rmdesh at yahoo dot com.
pankaj August 2, 2014 Planning to go for Webcity, Hennur. But the PEMI scheme appears to be fishy after reading the posts. Not sure whether to continue. Reply
Balaji Sankaran November 2, 2015 Do not go… if still want, please go for regular loan. May save some energy and time. Reply
Mac November 12, 2015 Do not go with the builder… As of now, only the Parcel 1 (blocks A to E) has any possibility of getting delivered in first half of 2016 (which will mean 18 months delay). Other parcels – I understand will be delayed by a minimum of 3 year! If you still want to go, I have a property in Parcel 1 – willing to sell for less than what Mantri is offering. Note – there will be no pre emi’s, no nothing… (well, that’s the situation Mantri has put us buyers in!). Reply
Alpyner June 27, 2014 I have purchased a flat in Alpyne project and the experience so far has been terrible to say the least. The phase-1 of the project was supposed to be handed over this month and to our horror just yesterday we received a letter indicating a delay of 6 months. Mantri management do not have any sense of project management, customer care & service. I wish I had not invested in a Mantri project. The quality, service, commitment all going down hill..I will not be surprised if they are reduced to a road side builder soon…they deserve to be ignored and dumped. If you are planning to invest in a mantri project, my advice is STOP…even a small builder will have more systems & method than this so called äward winning”builder…Tags: Mantri, Alpyne, UttarahaLLi, Cheat, builder Reply
Anish June 27, 2014 Mantri Alpyne : Delay in Possession Date of Phase 1 for more than 6 months. Not sure whats going on with mantriiiii…. Reply
K N Chandrashekar April 28, 2014 mantri serenity flats @ kanakapura road have not come up as assured.The trustworthiness and credibility of Mantri group will be at stake if immediate action is not taken to distribute pre-EMI amt on time and construction of flats.It is necessary to understand the frustration of the investor by the Mantris instead of simply giving reasons. Reply
vinoth April 1, 2014 One of the best Developer in bangalore is Mantri develpers. Even the costs of the apartments are high, the amenities provided by them are really Fantanstic(world class). They delivered me my flat with in time. For the luxurious apartments in Bangalore, i can prefer Mantri Developers. Reply
Sampath Kumaran March 19, 2014 I have paid full amount for a 3 bed room apartment in Mantri Alpyne BSK 5th Stage which is under construction and entered into a contract with Mantri Developers for receiving the PEMI reimbursement every month until the apartment is handed over to me in Jan.2014. But the Reimbursements are not credited to my bank account since 2 months and I hear only indifferent responses from the project managers, Many phone calls, e-mails on this subject have not yielded any positive results. I just do not understand how can a corporate be so insensitive to customer complaints and hope to do well in future! I am contemplating to approach consumer forum if Mantri continues to ignore its commitments. Reply
K N Chandrashekar February 25, 2014 mantri serenity,kanakapura road,bangalore project for which full money collected during 2013 year begining stating that project will commence from july 2013 and will be completed by end 2015.But nothing has happened;project yet to be started and postponing due to various reasons.Even pre-emi (80%)amt as promised is not credited well in time and putting customers in a fix.Many people who sold their houses/pledged or sold jewellery/taken loan from various sources are finding it extremely difficult with out money and flat as promised by mantri.It is their duty and responsibility to ensure customers that they must abide by what they assure and simply do not force upon customers and tell them due to force majeure conditions delay is unavoidable and pre-emi amt delay may be restored properly on time. Reply
YOGENDRA October 25, 2013 It was my good luck i have bought our flat from mantri developers & builder in very good reasonable cost price. Before one year i came here to saw their project in E- city Bangalore. And after seen this project of them i get satisfied to their quality work. Whole building design is totally different with other Indian home I think it is foreign building structure. I have lot of amenities as good parking space, children play area, common swimming pull etc. one of my uncle was also had bought their home from mantri developers than one was also fantastic in everything. And first time we got impressed to them after seen our uncle flat Reply
Pankaj Awadiya October 10, 2013 Hi, I am Pankaj Awadiya. I have recently bought a home in the project of mantri developers I want to say I am honestly impressed with mantri developers quality of construction as well as with their customer relationship, my experience was truly exciting. They had so many flats in various locations, all modern amenities, reasonable cost prices, service and innovative features like flexible kitchen, common party hall, covered swimming pool etc. I really wish that the company becomes a success and set an example for other companies who would provide affordable prices with top quality. I truly thanks to these kinds of organizations. As far as my flat is concerned I am happy till now. I get updates on the project progress and other information about registration, MOU etc. I wish a very good luck for mantri developers and its dedicated and honest employees. Reply
Mantu July 14, 2013 Hi Ramchi, I paid more 100% of my money in Mantri celestia Hyderbad( because they gave offer of 3.3 lacs but they told they will adjust this money when they will hand over.) so I can say I paid more then 100%. and when they complete all the floor they stoped wall work and interior work completely..Don’t know what the hell this builder are doing..Mantri is big Cheaterrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr. Reply
shanker July 13, 2013 The Mantri Glades project was meant to be completed by Nov’13. However, I find that the construction has halted since May’13. Given to understand that there will be a 5-6 months delay in handover but no valid reason given till date. Are there other Glades-owners who are agreived? Reply
BBM August 12, 2013 I am also an owner in mantri glades. The delay and the way communiction is being handled by Manti is pathetic. I wish all glades owners get connected/meet/discuss and take it up with Mantri. Reply
A V Shankar May 7, 2016 mantra builder project Glades not yet ready for possession. They are not sure when they are going to provide the occupation certificate and completion of other statutory requirements Reply
