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Shop bought with exaggerated price due to false promise of High Rent

Complain ID : CCN036449   30  

Real Estate Complaint Date: December 18, 2023
I am Ramya Shetty from Mangalore, Karnataka, Residing in Kuwait as NRI. I availed vacation in the last year April 2022. and was searching for Commercial shop in expectation of Passive income as the work environment is very volatile here. While in the process I met an agent and developer at Mangalore who shown their shop and promised that it will fetch Rs 60K rent per month. With little research I proceeded to buy the same as i had no local support and available time. Moreover i felt the deal is bit fare, spending Rs 1.02 Cr and return will be atlease 50k per month.
I had to return next day to Kuwait. We negotiated finalized the rate of 1.02 Cr as last price for the shop measuring 870 Sq,Ft at Lower Ground Floor. Builder was promising the he would find the tenant ASAP. From than i am waiting for the tenant in expectation of rent of Rs 45K atleast. For my dismay we did not get the tenant who would pay more that 35K. I realized that the builder has duped me. At present i am repaying the loan premium at Kuwait from last 1 year, without saving in my hand.
I will provide all the information/details if i can challenge my claim.
Complaint Against : Builder

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