Dear Sir, My name is Naveen Shetty Indian resident currently working abroad and booked a residential flat with Lodha builders. I would like to bring your kind attention that home buyers (customers) going through with the Mumbai builder (Lodha Group). Their projects exorbitantly delayed and as a customer’s we are worried whether they are going to deliver the final product as per the agreement between us and the builder. It is not 1 or 2 customers are suffering, it is more than 1000+ customers. I tried to reach out to Lodha for seeking explanation but it looks like our requests are falling on deaf ears. Therefore, I thought it would be better to reach out government to seek their assistance in resolving our difficulties: I have provided the brief of my case as below: 1. Booked the flat – 11 August 2010 in Casario project (Flat –Rivescape – B) – Lodha Group builder 2. Paid 9.9% of consideration value within 21 days from the booking date 3. Paid another additional 10% of consideration value within 42 days from the booking date 4. At the time of booking, i have been told that the possession would be in December 2012 5. After 11 months delay, ‘Sale of Agreement’ (registration) was completed on 7 July 2011 (You can observe that there is delay of approximately 11 months from the date of booking to Registration. During this period, Lodha has recovered 20% of Consideration Value (INR 714,283.04) from the customer). 6. Lodha has never shared beforehand the Sale of Agreement Terms & Conditions and instructed and forced us to sign on as is basis on the date of signing. (I was helpless as I had already paid 20% of consideration value) 7. In the Sale Agreement, Fit-Out date mentioned as August 2013 (Please note that it is Fit-Out possession and without Occupancy Certificate) with grace period of additional 9 months 8. As on 25 October 2012, Lodha has recovered 95% of Consideration Value and any delay in payment attracted interest at the rate of 18% PA (Refer below the payment details) 9. Current status – Not clear. As per Lodha new Fit-Out possession would be in September 2015 (not guaranteed and it is also Fit-Out) 10. Compensation for the delay – Lodha is refusing to accept their responsibility to pay the compensation for the delayed period. It’s not only me. More than 1000+ customers are suffering in this project (I can provide their details). I sincerely request the respective government authority look into the matter and interfere / provide us (customers) assistance in resolving the issues with builders. Look forward to receive favorable and positive response from your end.

Project is delayed for more than 2 years and the builder has recovered 95% of consideration value in the beginning of the stage. People are suffering from EMI burden

Email Id: naveen_shetty80@yahoo