Endless wait for Shirur project homebuyers, Real Estate News, ET RealEstate
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PUNE: Accountant Rahul Patil and his brother, Hemant, had booked a flat in a realty project in Shirur taluka in 2011 to make their father, who was aged 56 then, its proud owner.
Though the developer promised them delivery by October 2014, the brothers are yet to get its possession. And, in the meantime, their father passed away in 2017, after a prolonged wait to own the property, he could call home.
Rahul, who is staying on rent and still paying off his home loan, is among 13 people who had booked flats in the project. All of them have been running from one government office to another in the hope of getting their rightful dues — the house they booked, and the compensation as ordered by MahaRERA in 2018, which could not be executed due to Covid-19 pandemic.
“After we realized that the project was far from being complete, we approached the district consumer court, but in vain as the compensation amount was more than Rs 1 crore. After RERA came into force, we approached MahaRERA to take up our case. Finally, on June 8, 2018, MahaRERA issued an order in our favour, under which the builder was told to pay us back the booking amount with a 10% annual interest rate,” he said.
When the administration started the auction proceedings on June 14, 2023, a nationalized bank sent a letter to the tehsildar saying the project land was mortgaged with it, thus, halting the process.
Another complainant, Vikas Malpote (34), who had booked a 1BHK in the project, said, “Why can’t the authorities auction the plot and recover the amount to pay the bank and us? We are all staying on rent and paying EMIs to repay home loans for the promised flats.”
Rahul said, “Before the auction, the builder did give us a cheque of Rs 6.5 lakh each and promised to settle the amount in phases, but the cheques bounced twice.”
Farmer Satish Khaire (41) of Wadgaonsheri, who also invested in the project, said, “I wonder how these developers can go scot-free even after defaulting on their loan payments and continue to take up projects.”
A senior official of the bank said, “We stopped the auction process as the developer defaulted on loan payment and the property is mortgaged with us. We want the tehsildar’s office to auction off the entire property and not just parts of it. If they auction off parts of it, it would be difficult for us to auction off the remaining parts of the plot” MahaRERA chief Ajoy Mehta refused to comment on the case.