Is Alphathum in Sector 90, Noida a good investment?
When it comes to investments, it's crucial to be cautious and do thorough research. Unfortunately, some companies prey on unsuspecting investors like Alex, who faced a devastating experience with a fake investment scheme in Noida. This article will explore the pitfalls of investing with Alphathum and why it's not a good investment decision. We will break down the details, the companies involved, and provide a critical analysis based on real-life experiences.
Alphathum and the Scam
First and foremost, it's essential to understand that investing in schemes like Alphathum is not advisable due to the numerous red flags. Alex, an investor from Noida, embarked on a journey that led to significant financial losses and stress. He sold a 3 BHK flat and invested in Alphathum to secure better rental returns, leading to one of the biggest mistakes of his life.
Our Experience: Betrayal and Deception
Our story begins when Bhutani Group enticed Alex with false promises, presenting a false image of a secure and profitable investment. Despite these alluring promises, the reality hit hard when the commitment to deliver the 850 sq ft flat in Block C of Alphathum was repeatedly postponed. The originally promised completion date of December 2019 was not met, marking the beginning of Alex's disappointment.
False Prolongation
Even after the commitment date passed, Alex was assured of assured returns until February 2020. However, the story took a turn for the worse, as the assured returns ceased in November 2020. The company used the excuse of a force majeure, which they claimed to be unrelated to the original completion date. This excuse was flimsy, given that the company invoked the clause three months after the committed date had lapsed.
Agreement Disputes and New Demands
Alex faced another setback when the assured returns were only partially adjusted against the final instalment, and additional charges were imposed. The company demanded Rs 1.28 lacs for water and electricity charges, citing a rate of Rs 150 per sq ft without any detailed breakup. These charges were not stipulated in the agreement, leading to further disputes.
Customer Service Woes
Besides the financial issues, Alex also experienced significant problems with the customer service. The company was unresponsive, and whenever Alex attempted to resolve issues, the reps would attribute any discrepancies to human error or shifts in terms and conditions without any real accountability.
The Verdict: Do Not Invest in Bhutani Group
Based on Alex's experience, it is a strong recommendation not to invest in Bhutani Group. The company is known for making false promises, mismanaging agreements, and extorting additional payments. Furthermore, all the 5-star ratings for the group are fabricated, as numerous investees have testified about the fraudulent activities of the company.
Conclusion
For anyone considering investments in Noida, it is imperative to conduct due diligence and avoid schemes like Alphathum. Investing in such companies can lead to significant financial losses and emotional stress. It is recommended to stay vigilant and seek reliable sources for investment options, ensuring that you make informed and safe investment choices.