In yet another case of possession being delayed for flat buyers, people who have bought flats in a residential project in Panvel have alleged that realty firm Indiabulls Real Estate has delayed handing over possession to them for around five years and have also taken a U-turn on providing the amenities that were promised at the time the flats were booked.
Indiabulls had launched two projects — Indiabulls Greens in 2009 and Indiabulls Park in 2013 — in Panvel. This was followed with buyers booking the flats during the pre-launch and post-launch phases. The buyers have alleged, however, that the possession of their flats was delayed when it came to both projects.
Praveen Pandey, who bought a flat in Indiabulls Park, said, “I had booked my 2-BHK flat in 2013 and was promised possession in 2016. But Indiabulls played it smart and delayed signing the agreement even after over 20 per cent of the payment had been made, with the EMIs of the home loan starting. Finally, it was only a few months ago that they signed an agreement in which they mentioned the year of possession as 2020, with a grace period of nine months.”
Mr Pandey added, “I feel cheated because of this. I had to sign the agreement in compulsion because backing out in the last moment was not an option due to the huge investment involved.”
A few buyers who are surviving on their pensions said that they are paying the interest on their home loans on top of paying landlords for their rented apartments.
Faisal Mohammad, who bought a flat in Indiabulls Green, claimed that the amenities that were promised at the time of buying are nowhere to be seen. He said, “Amenities such as a clubhouse, school and hospital that we were promised at the time of buying the flat are nowhere to be seen today. Indiabulls did not ever apply for permission for the same. I have accessed this information via a Right To Information (RTI) plea.”
The buyers claimed that the date of possession promised at the time of booking the flat did not reflect in the agreement they signed later. “We know that they are not legally wrong, but what about all the other promises The firm has taken thousands of buyers for a ride,” Mr Pandey said.
Meanwhile, a spokesperson for Indiabulls Real Estate replied to an email saying, “All the sold apartments are being completed in a phase-wise manner and are within the agreement timelines. In the case of Indiabulls Park, we were faced with unavoidable statutory delays and received the commencement certificate in 2015.”
However, the buyers refuted the company’s claim. “We are exploring legal options,” said Anupama Chaturvedi, a buyer.
