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Thane-based homebuyers have reached out to Maharashtra Chief Minister Eknath Shinde, requesting assistance in resolving their complaints concerning delayed possession of apartments in the Kalpataru Immensa project. The buyers claim that despite having invested a combined sum of approximately Rs 1,000 crore, they have not yet received their homes and are experiencing difficulties in obtaining hearings from the Maharashtra Real Estate Regulatory Authority (MahaRERA).
Around 1,200 homebuyers have lodged 80 active complaints with MahaRERA regarding the 1,500-apartment township Kalpataru Immensa in Thane. However, they have expressed frustration with the lack of timely hearings, which they believe is preventing them from receiving justice.
The project, which began in 2016, comprises eight towers with 1,500 flats, and about 90 percent of these flats have already been booked. The original timeline promised possession by September 2022, but the project has faced numerous delays, leaving homebuyers in a precarious position.
One homebuyer, Suresh Sharma, shared his personal struggle with ET Realty, revealing that he has sold all his investments to buy a 1 BHK apartment, but still does not have possession of the property. Sharma emphasized that the situation is particularly disheartening given the developer's reputed brand. He has nearly paid off 50 percent of his home loan, yet he has no indication of when he will gain possession of the property.
Other homebuyers face similar dilemmas, with many paying home loan EMIs on a monthly basis while their investments are stuck in the project. This has caused significant financial distress for the buyers, who could have otherwise earned a 5-6 percent annual return by investing their money in fixed deposits.
The homebuyers, through their lawyer, have submitted a letter to Chief Minister Shinde, detailing their grievances and the challenges they face in obtaining timely hearings. They argue that this delay is causing significant hardship for the buyers, who are stuck between unresponsive developers and a slow judicial process.
The letter states: "Our clients are facing problems in not receiving the next date of hearing for months. Besides this project, the complainants in other projects are not getting dates for almost a year if not two years and more. This has led to a very delicate and difficult situation for bonafide allottees who, on one side are facing problems from non-committal builders on the other side, are not even getting a date for hearing months, if not years."
In conclusion, the homebuyers of Kalpataru Immensa in Thane are urging Maharashtra Chief Minister Eknath Shinde to intervene in their ongoing struggle for possession of their homes. With delays in both project completion and MahaRERA hearings, these individuals are left in a precarious situation, and they hope that the Chief Minister's intervention will help them achieve a resolution. As the real estate sector continues to face challenges, it is crucial for regulatory authorities and government officials to address the concerns of homebuyers and ensure that their rights are protected.
This story was first published in ET Realty
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