Omaxe Agent Promising 18% PA fixed returns. Too good to be true?
Hi everyone,
I have an agent who mainly works for Omaxe. He recently shared an investment scheme with me where if I invest 1 Cr today, he will give me 18% return in the next 12 months. He said that I will get pre-dated monthly interest cheques and one cheque for the final amount. He also said that there will be a proper agreement and I’ll get a property as a mortgage so there won’t be any risk involved. As per him, builders do this to raise money. 18% in the current market scenario looks too good to be true without any headache. Has anyone heard of similar schemes before? I am unable to understand why the builder wouldn’t raise money from the bank or any other financial institution at a much lower interest rate? What all should I check before investing?