Homebuyers stage protest outside Kalpataru Head Office

Disgruntled homebuyers of Kalpataru township project Immensa in Kolshet Thane, staged a protest outside the company’s head office in Santacruz earlier last week. More than fifty individuals gathered during the day with placards and demanded an explanation for the extended delay in handing over possession of the flats. Two senior representatives of the company supposedly met the protesters to address their concerns and put them at ease.

Participants of the protest allege that they were promised possession of their flats over two years ago when signing the agreement for sale. On account of this, they began making payments to the builder in line with the agreed-upon payment schedule. Some are said to have paid almost 90 per cent of the total value of the flat. However, due to the pandemic and several other factors, the possession date for the project was revised. As per the MahaRERA website, the project is now scheduled to be delivered in 2025.

Customers believe the builder is withholding information from them with regard to the actual status of the project. Some, who have visited the construction site, claim there has been no significant movement on site in over eighteen months. As per the MahaRERA website, the builder last updated information for all RERA numbers under this project in October 2022. Details captured under the website include construction progress.

The homebuyers are agitated because they are not satisfied with the builder’s response to the delays. Several attempts were made to contact company officials to understand the situation better, but they have not resulted in any meaningful change in sentiment amongst the customers. Over 1000 homeowners have been impacted by this delayed possession due to rising inflation, continuous rental payments and increased EMIs.

Next (Kotak Mahindra Bank cuts its 1-year MCLR rate by 20 bps)

Homebuyers stage protest outside Kalpataru Head Office

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