Has it started yet?

Q: When is the correct possession date? The project keeps on getting delayed and seems to be a non starter. Earlier the completion was scheduled in 2014 now - 2017/18 seems to be doing rounds. Are they cheating us?

Miheer brahem, Apartment Resident

30th June 2014

Residential Project Review in Mumbai

project delay

delay in possession

apartments for sale in mumbai

flats for sale in malad east

buying properties in malad east

saaga the shiv shakti enclave

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Replies (6)

It seems to be a complete fraud by India Homes and Saaga Infra Projects.

No one from Saaga office replies to any queries

Miheer brahem, Apartment Resident

14th September 2015

Comment

Hi,
In the current real estate market, most home buyers face litigations over their newly purchased apartments. It is necessary to check if the property is legally clear before booking it, even if it is a branded project. One should check all the required legal documents and construction approvals related to the project through legal consultants.

Vinay Dixit, Mumbai

23rd September 2015

Right....
If you are planning to buy a property which is in pre-launch, ready-to-move and under construction, do not just go by the brochure. A lot depends on the builder's ability and resources. You must checks before you finalize a project. Here are the few point:- 1) Ground report, 2) Track record, 3) Quality certificate, 4) Realty ratings and 5) Financial stability.

Madhav Deb, Bangalore

23rd September 2015

Right.....
A reputed builder will be a member of an industry association, such as the Confederation of Real Estate Developers Association of India (CREDAI), or the Builder's Association of India (BAI). These are self-regulatory bodies that have strict rules for builders and any deviation may lead to the company being blacklisted by the association.

Bikram, Mumbai

24th September 2015

Guys. Pls understand that the site office has also bewn closed and the project is a failure. It is better to unite and ask for refund + interest as per MOFA regulations as this activity by the developer amounts to fraud (launching without permissions in place). Pls contact me on miheerb@gmail.com or 9930866947 so that we can discuss the way forward.

Miheer brahem, Apartment Resident

1st September 2015

Comment

Hello Miheer!!!
Now-a-days project delay and cost overruns are common in the Indian real estate market. It has become a fashion for the developers. As a buyer, you should be aware of the protection that is available to you in the event of the late delivery of the immovable property you have purchased and also some of the things you need to avoid including in your contract.

In case there is a delay in a project and the builder is not willing to pay a compensation as discussed in the builder-buyer agreement, buyers can approach the Consumer Court or the civil court for the execution of the penalty and grievance redressal,

Ketalpujara, Mumbai

9th September 2015

This is really very sad for the buyers. There must be a regulatory body like SEBI, keeping tab on the developers, sending out legal notices and pushing for fast-track court order will help bring some discipline in the real estate industry. This body should ensure that at any given time, the developer should be allowed to work on only 2-3 projects at a time in order to avoid delays.

Rakshit, Mumbai

9th September 2015

This is flop project, no work has started yet, infact builder is withdrawing this project..... dont know how he is going to give us invested money... guys pls let me know if any one else is also here who had invested money in this project...

Pradip bhor,

28th August 2015

Comment

Did you talk with the builder? Write a mail to him or visit his office. Try to find out the reason of delay. If you are not getting the proper reply plz take back all your money invested in project.

Ketalpujara, Mumbai

1st September 2015

The construction has not started even in 2015. How can they manage the 2018 date?

Dattaram Gurav,

21st March 2015

Comment

Hi Gaurav,
Did you check with builder, why is it getting delayed?
sharadtiwari@gmail.com

Sharad Chandra Tiwari,

28th August 2015

Hi everybody,
I think the project is delay due to some legal issues such project approval, issue of land and water and electricity. If it is not true then tell me which all banks have been approved for home loan?

Bikram, Mumbai

30th June 2014

Comment

@Bikram,
I don't know internal reason of delay but i had a word with their sales person regarding those issue and they told me to come and see the legal documents. It is a BMC approved project and HDFC Bank, Axis Bank, LIC Housing Finance Ltd, State Bank of India and ICICI are leading home loan provider which has been approved this project.

Rakshit, Mumbai

30th June 2014

Hi Miheer,
Yes, the project is delayed due to some reason but now the construction work has been started and it is expected that the possession date will be from June'2018.

Rakshit, Mumbai

30th June 2014

Comment