Why Ponzi schemes flourish?, Why so called Investors don’t learn lesson from earlier frauds?. It is not the case that promoters of such schemes are clever or intelligent. Actual reason for that must be the number of fools who want to get cheated is multi million times more than the actual cheaters.
People always fall in love of investment offers of plantation schemes, Calm, Private, Luxurious and yet open Farm house plots with Sunrise / sunset point, Swimming pool, Landscape garden, Exclusive Developed demarcated plots with Boundary Fencing, forest walks along the periphery etc. etc.
Promoters of such scheme are always incest. They only cheat or appoint and encourage such agents who can cheat near and dear once. They keep changing their business names frequently. Yesterday what was “x” county next day it becomes “y” county. And what they promised in earlier scheme may not be the same in latest scheme. For example suppose they promised you non agriculture plot residential plot on same property may sale it today as agriculture land ideal for plantation scheme.
Since last some years such schemes are on its high in and around pune. Unfortunately now a day promoters of such schemes some times find government officials to rope in it. Actually as per law no public servant can promote and advertise such schemes but when so called investors see public servant talking nice about any scheme they assume that scheme is legal one.
Currently there is ban on collective investment schemes hence these people don’t name it as investment scheme but all the things in there promises lead to it only. Now a days they promise you peace of land that doesn’t belong to them, they never tell you survey numbers until you invest initial amount. So such investors should take care of following things
1) Check credentials of promoters
2) See that what he had promised on same land earlier; Ask him why he changed the name of scheme? It is easy in these social media days.
3) There is ceiling on possessing agriculture land, If any body claims that some hundred acres agriculture land in his name, it sure that he is lying
4) You must be agriculturist if you want to purchase agriculture land. If promoter says he will make some “Jugad” to prove you agriculturist. Be sure that he has done everything by “ Jugad” in said scheme
5) Unless promoter shows exact survey nos don’t believe in him. If he says he will tell survey no after investing something then is surely there is something fishy.
6) Don’t invest any paisa before knowing exact status of land i.e. hill top, hill slope, agriculture land, N. A plot or anything. There is no such thing like proposed N.A. land is either N.A or agriculture.
7) check ready reckoner rates of lands in and around Pune here - http://igrmaharashtra.gov.in:8080/eASRCommon.aspx?hDistName=Pune.Normaly they charge 50 times more than actual rate, check whether the money you are spending is worth.
8) See how much is difference in ready reckoner rate and sales price and think whether it is justified ?