Country club membership, get free land = scam?

PaniPuri

So, my husband was contacted by a guy trying to sell him a country club membership - 85,000 rupees and you get a 150sq. foot plot of land FREE..

And, if you convince three of your friends to join.. you can an additional plot free..

My husband is sold on the idea, as are two of his friends.. I think I smell a scam or at least a "it's too good to be true" but they won't listen to me..

What do you guys think? They aren't interested in the club benefits, only the plot.. 85,000 for 150 square feet (90km from HYD) is a great deal.

Nick-H

I've seen ads to this effect, and ignored them.

But you could ask. Trouble is that will result in your being talked at by a sales person .

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PaniPuri

The problem is, my husband has talked and talked to the sales guy.. and he is so SOLD on the idea.. but I think it's a scam. My (Indian) husband is extremely stubborn though, and won't listen to me. He said not to worry, anytime he wants to cancel his membership, they'll return all the money he's paid..

So, I've voiced my concern and doubts, said all I can. I am usually right and he knows it (he'll admit it after the fact..)

Note: his entire family is supporting this "investment" because the salesman said, just keep the land for 1 year and you'll DOUBLE YOUR PROFIT.

Also note: This is the same husband who lost LAKHS of rupees by buying land from someone who didn't own it.


Well, it's too late! Ha, he's paid 28,000 rupees and the rest will be charged monthly (EMI) But he says not to worry.. he can cancel anytime and get all his money back.. hmmm..

shashank.aggarwal

150 sq foot of land....its not good enough for a proper bathroom...

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capt_mahajan

I am assuming they will give the club membership free, but not the land

Simple calculation, 85000 rupees only for the land would mean about 85000/150=567 rupees per square foot. Forget the club membership.

Now, close to a major city, 567 rupees a square [foot is possible ... by close, I mean outskirts. Land near the new airport at Hyderabad quotes for around that, no idea what it sells for.

The land will be far, far away.. but it will be there, I think.

Nick-H

I suspect the same thing. Then I would expect comes the other stuff: you have to pay all the legal fees and expenses, etc etc.

15 * 10 ft: it's big enough for bedroom, or even a small living room, but Shashank is right in essence. What about access? I suspect that they have an acre or two somewhere that they are selling nominal parts of. Could you build on it? Not if you had to cross the plots belonging to fifty other people to reach it.

I think it is an offer on a par with persuading people to buy a square foot of the moon! If it was somewhere of significant symbolic value, it might be worth it. Doubt very much that there is any such thing.

Next thing to ask is: what sort of liabilities might you be incurring should you buy that land: taxes, responsibilities to other people, claims from prior owners, I'm sure the Capt could think of more. The whole lot could be re-possessed by a tribe, maybe!

I think the size is enough to say forget it. I've known people who live in smaller houses, but they are not the sort of people that take out country club membership!

Another point... They are giving this away: it must have cost them next to nothing!

Ultimately: this is enough to live on for months; it is enough for at least one very decent holiday abroad; how rich are you? If your husband feels he can afford to throw away the money, fair enough!

capt_mahajan

Just noticed that the OP says 90km from Hyderabad.

Then it is hardly cheap, the deal. You are getting better land prices much much closer, and in 'promising' areas too.

PS And 90km away is probably agricultural land

PaniPuri

Thanks for your replies. At the risk of upsetting the matrimonial harmony, I am showing this to my husband tonight. Someone else told him essentially the same thing re: the price of the land.. they said they could buy land closer to the city CHEAPER than this..


The taxes, etc thing is something I think he needs to look into. He knows he'll have to pay registration fees, etc which could be 10,000 rupees.

This is such a headache, my husband, God love him..

the opoponax

I'd also add that, if it's 150 sf, how could it really be much of an "investment" -- even if the land triples in value, you have to actually sell the land to get any of that money. And who would buy a plot of land the size of a bedroom, out in the middle of nowhere?

capt_mahajan

Also have to make occasional trips to see if there is no country club "resort" on the members collective land.

Or tribals.

jyotipg

this is a cheap avoidable club. my fiend got stuck with these guys and had a tough time.

http://www.complaintsboard.com/compl...dia-c5978.html

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crvlvr

Anyone who sells plots as small as 150sqft (say 15feet by 10feet) is a cam artist. the land has not valiue regardless of where it is because as Shashank has pointed out, there is nothing an owner can do with it -- especially in a country club location. It is too small. Run away from the deal.