Expat Properties - EXPAT PROPERTIES — False information provided to invester while selling land
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Complaint by: Shailesh on November 23, 2015, 10:42 am in Real Estate

I have invested in one project with Expat Properties. I was provided various details, etc to showcase that land will yield higher appreciation in coming times.
Nothing seem to have worked out and current land price is less than the price I purchased it 7 years back. Also, it looks like they have sold land at very high price comparted to market.

I'm publishing this thread here to see how many people are facing such issues with this company. I'm planning to take legal actions and preparing ground for it.

I would recommend that before you buy anything from Expat, make full market research on whatever growth they say and also check for the prices. They can pickup any cutting from newspaper and show it to you as govt plans but actual ground realty could be different.

Thanks, Shailesh Naik

Complainant's Goal: Get by money back
Complainant's Target: Expat Properties
Complaint Location: India

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Recent Comments
9.
2 months ago - Business Reply from - Expat Projects (Expat Properties)

Dear Mamta,

Greetings from Expat Projects. We apologize for the inconvenience caused to you. We have taken up your issue with the concerned team and we shall get back to you shortly. Thank you.
For faster access, you can message us on: https://www.facebook.com/ExpatProperties

8.
2 months ago - Business Reply from - Expat Projects (Expat Properties)

Dear Mr Naik,

This is in response to the multiple posts that you are posting about us in various internet forums and that has come to our notice

Mr Naik, in our last written communication with you on Jan 13th, 2016 we had requested you once again to kindly take possession of your property. We have still not heard from you on that. Till date we have been looking after security and maintenance of your plot and we have not levied any charges for the same on you.

You purchased Dove as a project at 3.5 lacs for 1 acre of NA land inclusive of road area. You purchased this out of your own conviction, there was absolutely no coercion from Expat for you to buy this property.

The property has also appreciated significantly from the time you bought this plot with us. Currently, the Government guideline valuation for plots in project Dove is Rs. 340 per sq. mt., more than Rs. 12 lakhs per plot. You can verify the guideline value online on the Tamil Nadu govt’s official portals. We have completed the development of Road access to each individual plot and corner stone demarcation as per our commitment and the project has been ready for hand-over to you for almost 3 years now.

You have still not accepted the handover, NOR have you come forward to register your plot in spite of our regular follow ups and reminders.

Land as an asset class comes with a long term appreciation horizon and apart from the value adds to the property itself, it also depends on a whole lot of economic drivers that lead to price appreciation. Expat has taken up this project due to its strategic location and future benefits it offers investors keeping in mind the news reports about government plans and industrial initiatives planned in that region. As you can see from the above, the Govt guideline value itself on Dove has appreciated significantly.We have on multiple occasions requested you to register and take possession of the property keeping in mind your interests.


As a land investor, you are aware of the factors that causes a price appreciation in a given region and while we present those facts(supported by articles in various publications) to clients at the time of making the investment. Clients are aware that all of those drivers when materialized will lead to a price appreciation.

Price appreciation is not in Expat's control nor have we claimed it to be nor has Expat offered you any written guarantees to you of the timelines within which the external developments will materialize.

Investors make their buying decision fully aware of this fact and the potential wait involved with this decision. In addition, while we help clients to re-sell their plots, re-sale was never a commitment made by Expat. A re-sale for you is also not possible as you have yet to Legally register the land in your name, which you have not been doing in spite of repeated requests from our end.

Therefore I humbly request you to avoid making comments that come across as defamatory and hurt the reputation of our organization. Should this continue we will be left with no other choice but to take a legal recourse. Trust your understanding and cooperation in this matter.

Having completed all our commitments, Please know that our organization is not out to cheat you as you seem to claim in your posts.

I request you once again to register and take ownership of your plot.

Sincerely

Berlyn D'souza

7.
3 months ago  Mamta

Hi Shailesh,
Same is the case with us . They have taken money from us but neither gave us land nor returning our money. I dont know whom to approach for my money.


Mamta

6.
6 months ago   Message By Complainant Shailesh

Expat Properties,

You have not answered any post of mine. why the current market price of plot is 40% less to the price I purchased it 9 years back.

Believe me, my fight against you will be long lasting. You won't be able to simple walk away by taking my hard earned money.

5.
Fri, 17 Jun 2016   Message By Complainant Shailesh Naik

Berlyn, so can you please advise what is current market price for the plot. Is it above 3.5 lacs per acre or below it. This is 8 years old investment. Be honest please. Please don't quote govt guidelines as while selling/buying it has no meaning.
Also, don't threat me with legal action. In legal action, you have to prove me wrong.

You tell me the market price and I'll shut up.

If you are so much worried about your company reputation then why don't you return my money.

4.
Fri, 27 May 2016  Rajesh Ravi Mulay

I am also victim of Expat Properties Scam. I am struggling to get possession of my land in Sundew Haven Project of Roha since last six years even after paying full amount of Rs. 13 lacs. Moreover now these people are telling me that this project is falling in forest zone and are unable to give possession of land in the same project. My contact no. is 9221960374

3.
Fri, 19 Feb 2016  Expat Properties (I) Ltd

Dear Mr Naik,

This is in response to the multiple posts that you are posting about us in various internet forums and that has come to our notice

Mr Naik, in our last written communication with you on Jan 13th, 2016 we had requested you once again to kindly take possession of your property. We have still not heard from you on that. Till date we have been looking after security and maintenance of your plot and we have not levied any charges for the same on you.

You purchased Dove as a project at 3.5 lacs for 1 acre of NA land inclusive of road area. You purchased this out of your own conviction, there was absolutely no coercion from Expat for you to buy this property.

The property has also appreciated significantly from the time you bought this plot with us. Currently, the Government guideline valuation for plots in project Dove is Rs. 340 per sq. mt., more than Rs. 12 lakhs per plot. You can verify the guideline value online on the Tamil Nadu govt’s official portals. We have completed the development of Road access to each individual plot and corner stone demarcation as per our commitment and the project has been ready for hand-over to you for almost 3 years now.

You have still not accepted the handover, NOR have you come forward to register your plot in spite of our regular follow ups and reminders.

Land as an asset class comes with a long term appreciation horizon and apart from the value adds to the property itself, it also depends on a whole lot of economic drivers that lead to price appreciation. Expat has taken up this project due to its strategic location and future benefits it offers investors keeping in mind the news reports about government plans and industrial initiatives planned in that region. As you can see from the above, the Govt guideline value itself on Dove has appreciated significantly.We have on multiple occasions requested you to register and take possession of the property keeping in mind your interests.


As a land investor, you are aware of the factors that causes a price appreciation in a given region and while we present those facts(supported by articles in various publications) to clients at the time of making the investment. Clients are aware that all of those drivers when materialized will lead to a price appreciation.

Price appreciation is not in Expat's control nor have we claimed it to be nor has Expat offered you any written guarantees to you of the timelines within which the external developments will materialize.

Investors make their buying decision fully aware of this fact and the potential wait involved with this decision. In addition, while we help clients to re-sell their plots, re-sale was never a commitment made by Expat. A re-sale for you is also not possible as you have yet to Legally register the land in your name, which you have not been doing in spite of repeated requests from our end.

Therefore I humbly request you to avoid making comments that come across as defamatory and hurt the reputation of our organization. Should this continue we will be left with no other choice but to take a legal recourse. Trust your understanding and cooperation in this matter.

Having completed all our commitments, Please know that our organization is not out to cheat you as you seem to claim in your posts.

I request you once again to register and take ownership of your plot.

Sincerely

Berlyn D'souza

2.
Wed, 13 Jan 2016 - Business Reply from - Expat Properties (Expat Properties)

Dear Shailesh Naik,

For all the features offered by Expat for project Dove, we had priced it very reasonably at Rs. 3.5 lakh per acre NA Land (inclusive of road area) in 2008. Currently, the guideline valuation for plots in project Dove is Rs. 340 per sq. mt., more than Rs. 12 lakhs per plot. You can view the guideline value online in TN govt’s official portals. We have completed the development of Road access to each individual plot and corner stone demarcation as per our commitment and the project has been ready for hand-over for over 2 years.
Land as an asset class comes with a long term appreciation horizon and apart from the value adds to the property itself, it also depends on a whole lot of economic drivers that lead to price appreciation. Expat has taken up this project due to its strategic location and future benefits it offers investors with all the government and industrial initiatives planned in that region. As you can see from the above the Govt guideline value itself on Dove has appreciated significantly.

We would once again request you to register your property at the earliest and take ownership of your property as this will be in your interest

For any more information, please feel free to reach out to us at info@expat-group.com

1.
Mon, 23 Nov 2015  Abhinav

Can you eloborate?