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Unjustified interest imposed by the Builder (Sikka Group)
Location/place: New Delhi
Name of company/service: Sikka Group
I have bought a flat in Sikka Karnam Greens Sec-143B Noida. The property is under construction and my loan has been financed by Axis Bank through single window arrangement by the Builder (Sikka). The first installment of the loan was disbursed late due to to the late processing by the Builder’s staff and subsequent delay in disbursal by the bank. Now the builder has imposed interest on the delayed payment, and did’nt bother to inform me in time, and thus allowing the interest to grow, till the second disbursal demand note was issued (around 11 months later). Now when I asked them to waive of this interest as I have no role in the delayed disbursal of the loan, they refused to do so, and asked to send mail to their customer care. After sending mail to the builder’s customer care, still no action has been taken and builder is allowing the interest to grow further. Strict action needs to be taken against this builder as this is a gross malpractice on part of the builder to raise the funds from consumers by way of imposing fake interests.
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ગુજરાતી
हिन्दी
मराठी
ਪੰਜਾਬੀ
kindly complain the matter to CREDAI NCR
SIKKA (sc quota)has got backward mentality and illetrate only know to grab money
Lot more buyers of sikka have these type of complaints. I suggest you and others to have a common forum. In this regard Mr. Shakesh skharma ( Tel. 9211396875 , 01202572455)and Mr. Stalin K Rout (Tel 09559995544)taken innitiative. Or contact via mail at [email protected] and [email protected]
sikka builder is a theif kindly withdraw your deposit amount as soon as possible because group has not taken permissions from some authorities. secondly work of construction has also stopped by noida authority of poor construction. so kindly sale your flat to face any consequencies lateron.
dear ram avtar
Would you pl let us know which project namely Karmic Greens, Karnam Greens or Kamna Greens is being stopped by authority.
Dose anybody know, why construction in sikka karnam have been stopped??
The similar type of interest is being imposed by sikka on me as well, due to delay in documents from sikka. They are refused to take any action against my genuine complaints..I am writing emails to them from last 4 months but no help.Can any one suggest what to do.??
Please send all complaints and info related to misdeeds to SAVE INDIA FOUNDATION- [email protected]. We will take up your matter with Sikka Group n Authorities.
Save India Foundation (SIF) is a non-profit, non political totally voluntary organization registered duly as a Society with trustees who are persons of high caliber, probity and commitment to the society. SIF has taken up the task of Action against Corruption (ACT). SIF has taken the onus to fight corruption in Govt / Public offices / machinery focusing on the problem of legitimacy of administration, misuse of public property, crime sagging law and order and raise strong voice against cases of Human Rights violation, harassment in public dealing departments, Private sector corporate houses to mention a few.
regards
RESIDENTS OF SIKKA CLASSIC HOMES, KAUSHAMBI, HIS FIRST PROJECT, ARE BEING HARASSED BY SIMILAR WAY OF IMPOSING INTEREST. WE ARE FIGHTING AGAINST HIM. GET IN TOUCH HERE.
Sikka group are looters. They unnecessarily impose interests and do not even inform the customers regarding the same. I had booked a flat in Sikka Kaamna Greens and had to sell off the flat when I came to know of the poor construction quality. I am sure Sikka projects will some day fall like the one in Maharashtra en-dangering thousands of flat occupents.
If you have invested in Sikka. the best thing will be to sell of at whetever amount you can get and invest in reputed builders like 3c’s Jaypee, Gaur etc.
I AM ALSO FACING THE SAME PROMBLEM OF INTRESET IMPOSED BY SIKKA GROUP
A friend of mine had booked a flat in Sikka Kaamna greens thinking it is the cheapest of all the projects in sec 143, expressway. It was good for the first few months. As soon as the prices in the location started rising they were hell bent on torturing her with unjustified ineterest @24% compound P.A, putting all sorts of charges which were never in the contract. Each time they said the company policies have changed and will need to be followed. The contract apparently has lot of loopholes and builder uses them to harass customers. Each time you retaliate they threaten to cancel the flat and impose cancellation charges.
This is a really bad builder and i think that’s the reason no one wants to buy their flats even though they are the cheapest. Only ones who are not aware or don’t care to check their credentials give them their hard earned money.
Sikka in nutshell is
1. A fraud company who shows a very good picture in the proposed layout, but changes it when the actual const begins.
2. Stops their projects after taking 50-70% of the amount and use that money to start a new project.
3. Charges a very high rate of interest at 24% compound. If you think they only charge when you are late in giving them money you have lots to get surprised. They also charge you if your loan is not sanctioned, delay in getting the loan, delay from their end in sending the demand letter, delay from their end in presenting the cheque to the bank.. the list is endless and this is where SIKKA earns the major part. If you think you can fight your case with them trust me court is the only way.
4. Lot of hidden points in the agreement. These may seem insignificant to you while signing the contract, but its these that SIKKA group uses to harass you. SO read that carefully.
5. Highly unprofessional and rude staff. The owners himself does not meet anyone and keeps saying he is busy.
5. They change the entire contract by means of affidavids that they force you to sign at different stages.
6. Brokers have a very strong say in the SIKKA group. You practically cant do anything without the broker.
I just hope the govt. checks and amends the law to control these builders. SIKKA is a big no for home buyers.
The same thing they did with me they have imposed interest around 38000 to me for sikka karnam greens sec 143 noida.
Even no body is listing there. customer care also cheap and non responding . what we have to do pls help
9717956611
Sikka group has been black listed by Noida Authority and banks have been asked to stop providing loans to the SIKKA projects. Existing loans are not getting additional disbursement.
Reason: Sikka group has not paid the due amount of Rs 5 Cr to Noida Authority. in addition to it the builder has done constructions not in agreement with the approved project.
SIKKA group is a fraud truely and its time they return the money of the investors with due interest.
I got demand from Sikka on Nov 24th,2014 for my unit in Sikka Karnam. When i requested bank to disburse it, I came to know that project is on Hold. Can anybody help me to understand that exact issues with this project. I feel helpless & don’t know what to do.
I WANT TO JOB WITH YOUR ORGANIZATION.MY DREAM IS WORKING IN L&T COMPANY.
Hello Friends,
Happy to see your commments for Sikka Kaamna Greens.We had same story to tell in Nov 2011 we booked flat in kaamna green project n had denial from Axis Bank for the disbursal of loan inspite of Sikka ‘s approval to approch them.I was fighting with sikka for waive of the Rs.55000 late penalty charges very long, almost an year finally they agree to settle down the matter wih payment of 7000 and one declration over the non judicial stamp paper for agreeing if we fail to pay their future demand they can take any action angainst our flat since we were in trouble with no way back we have given the under taking.
Since then we are paying bank EMI to HDFC and last year we come to know when sikka sent us 14the floor demand of one lac ,HDFC denied and said they have not paid huge some of Noida Athourity so funding has been stoped so far for unprecendeted time.
Now what we do..
Pls form an association to fight back to them.
We all can come together and get it a legal forum and a case can be filled which will make his brand weaker and force him to deliver the flat on time and push the things .
regards
vijay thakur
9312612210