Homebuyers In Thane Write To Maharashtra’s Chief Minister Over The Delayed Possession Of Their Homes In The Kalpataru Project
Homebuyers in Thane Kalpataru Immensa claim that despite paying Rs 1,000 crore, they haven’t received their homes and that MahaRERA hasn’t given them a hearing. Real estate buyers assert that MahaRERA is now hearing 80 active complaints, but that because they are not getting hearings in a timely manner, justice is being delayed.
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Homebuyers from Thane, a suburb of Mumbai, have written to Eknath Shinde, the chief minister of Maharashtra, to voice their displeasure with the state’s real estate regulatory agency (MahaRERA) over the non-resolution of their complaints about delayed possession.
Real estate buyers assert that MahaRERA is now hearing 80 active complaints, but that because they are not getting hearings in a timely manner, justice is being delayed. Nearly 1,200 homeowners have reserved flats in the 1,500-apartment Thane township Kalpataru Immensa by jointly donating at least Rs 1,000 crore.
Purchasers’ plight
NRI Mayur Gupta, 41, said, “I liquidated all my mutual fund holdings and investments to buy a one-bedroom flat. For about Rs 40 lakh for a Rs 72 lakh flat. The situation I’m in right now, though, is one where I don’t yet own the house. I’m still paying my home loan’s EMIs on a monthly basis, and my $40,000 is stuck. That money is currently stuck in a fixed deposit, where I could easily earn 5–6% annually. The fact that a brand like Kalpataru is failing to provide prospective purchasers the full picture makes it even more tragic. That I have almost paid off half of the mortgage but there is still no sign of ownership.
Additionally, we aren’t timely receiving hearings on our complaints concerning delayed possession, said Gupta. In addition to September 2021, we were promised possession in 2022. Even though May 2023 is growing closer, we have yet to take ownership of our ideal residences. We anticipate that the government will step in and assist about 1,200 homebuyers.
Homebuyers claim that they reserved apartments with Kalpataru Immensa beginning in 2016. And received a guarantee of possession by September 2022. The homebuyers said that of the 1,500 apartments in their project’s eight buildings, about 90% have already been reserved.
MahaRERA and the developer Kalpataru Group did not respond to inquiries.
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