r2i forum

Hello guys, a developer that I know is planning to launch an investment opportunity in Chennai (other cities coming soon) to lead a comfortable retired life.
The idea he is promoting is "retire in Chennai with 2-crores"
The community has following amenities not available elsewhere.
1. School
2. Full fledged medical college
3. Full fledged hospital on premises

Inclusions - What is included?
1. You get to own 2 spacious apartments each 2000sqft.
2. You get complete hospitalization cover for you, your spouse, your 2 kids under age of 21, your parents. Pre-existing conditions are covered. Preventive medical tests based on your age will be included. Doctor consultation up to one hour a week is provided. Medicines are not covered
3. Free education for your 2 kids: 1st to 12th grade CBSE syllabus
4. Free admission to your 2 kids to medical college under management quota. Incredible benefit. edical seat under management quota is very costly in the current market. In case your kids do not plan to attend medical school, this benefit can be transferred to anyone you like
5. One maid will be provided. She will be available 8 hours a day everyday except holidays and sundays

Questions
1. In case I choose to live in one apartment and rent out the other, I am expecting a rent of 25k per month. Is 25k income per month enough to pay for ALL expenses like food, clothing, property taxes for both apartments, cable, cell phones, electricity, occasional taxi, associate maintenance fees, medicines, occasional house repairs? Did I miss any expenses?
2. Is th price of 2-crores justified? Can you achieve the same coverage for less?
3. How much more money do I need to have for interiors and governement taxes like registration for each apartment?
4. What other questions come to your mind?

The developer has prior experience in building apartments. He also built school. He also built and currently operating a hospital

I want to seek the opinion of other members think about this investment opportunity.
This is my first post in r2i. Please pardon me if there are some mistakes.
I started a new thread here: http://www.r2iclubforums.com/forums/showthread.php/18088-Seeking-opinion-on-opportunity-to-retire-in-Chennai-for-2-crores

vnksuresh;275601Hello guys, a developer that I know is planning to launch an investment opportunity in Chennai (other cities coming soon) to lead a comfortable retired life.
The idea he is promoting is "retire in Chennai with 2-crores"
The community has following amenities not available elsewhere.
1. School
2. Full fledged medical college
3. Full fledged hospital on premises

Inclusions - What is included?
1. You get to own 2 spacious apartments each 2000sqft.
2. You get complete hospitalization cover for you, your spouse, your 2 kids under age of 21, your parents. Pre-existing conditions are covered. Preventive medical tests based on your age will be included. Doctor consultation up to one hour a week is provided. Medicines are not covered
3. Free education for your 2 kids: 1st to 12th grade CBSE syllabus
4. Free admission to your 2 kids to medical college under management quota. Incredible benefit. edical seat under management quota is very costly in the current market. In case your kids do not plan to attend medical school, this benefit can be transferred to anyone you like
5. One maid will be provided. She will be available 8 hours a day everyday except holidays and sundays

Questions
1. In case I choose to live in one apartment and rent out the other, I am expecting a rent of 25k per month. Is 25k income per month enough to pay for ALL expenses like food, clothing, property taxes for both apartments, cable, cell phones, electricity, occasional taxi, associate maintenance fees, medicines, occasional house repairs? Did I miss any expenses?
2. Is th price of 2-crores justified? Can you achieve the same coverage for less?
3. How much more money do I need to have for interiors and governement taxes like registration for each apartment?
4. What other questions come to your mind?

The developer has prior experience in building apartments. He also built school. He also built and currently operating a hospital

I want to seek the opinion of other members think about this investment opportunity.
This is my first post in r2i. Please pardon me if there are some mistakes.

split your 2cr and invest partly in fd,stocks,real estate,gold and insurance.
you will end up having a better future.
who is the guarantor for all these promises.we are in an era where nations are going bankrupt and people are sceptic about invs in govt bonds and we are talking about promises of a company.

Thanks. That was quick. I do not have 2-cr. I am planning to take a loan. My kids education is important to me. How much do you think a medical seat could cost me in future? My son has a few more years to go before getting into medical college. Do you have any suggestions on how to distribute in FDs, stocks, gold etc? I am very bad at investing in stock markets.

Name of the developer please?

-M

No offense to you. Felt like reading a novel.

Whoever is promoting this idea what are they thinking? Sounds like their thought is NRIs need to be spoonfed on returning to India.

I hope you are not seriously considering this as a viable option.

What TANGIBLE assets do you get for Rs. 2 Crores? All I saw was two apartments. Everything else is an intangible promise that can be broken at any time by showing various reasons. Even if you have a inron-clad legally binding agreement with this guy, how long does it take for the courts to force him to pay up on his promises? What if his company claims bankruptcy when it is time to pay? Who assures the quality of the school and how?

If he breaks all his promises (from the maid to the medical college), what tangible action can you take against him? Does he pledge any tangible collateral (like his property) so that you can be reasonably confident that he is at least attempting to be legitimate?

I would not touch this "investment" even with a 1,000 mile long pole. It is a SCAM. Don't fall for it.

vnksuresh,

Do you have any part in this project, directly or indirectly?

____________________________________
Scam changed to project.

vnksuresh;275603Free admission to your 2 kids to medical college under management quota.

One maid will be provided. She will be available 8 hours a day everyday except holidays and sundays

This all only for dakshina of 2 crores??? Incredible.
Its a boon to people as they will be saved from huge task of finding a doctor and unbeleivably difficult task of finding a maid.

Are they going to construct a temple of the developer in the premises or people will have to hang this generous guys picture in their bedrooms? How about the Aarti booklet of this new god? Is that also included in 2 crores?

vnksuresh;275603He also mentioned I can pay in installments as construction progresses. I could take a loan as well

Really? wow. He actually allowed you to pay in installments and to take a loan? Thats height of generosity.

vnksuresh, you are blessed. Go forth and seek glory.

WIll they cover pshychiatrist's services or it would be treated as pre-existing condition that cannot be covered?

No, I do not have any part in the project. I wish I had a part though :).
I am just an NRI trying to r2i, I want to make sure I have enough money before I return.

dbs;275637vnksuresh,

Do you have any part in this project, directly or indirectly?

____________________________________
Scam changed to project.

Can someone please suggest me a plan on how to ensure funds for MBBS education for my kids and medical insurance for my family including my parents?
I heard numbers like 50-lakhs for medical seat under management quota. Is that true? I also have not found an insurance plan which covers pre-existing conditions and with good coverage amounts.
I have gone through various posts on this forum. It is still not clear how much money I need before I can r2i :(