Q:
We have booked a flat with Mantri Celestia over 2.5 yrs ago. The flat was part of Phase 1 and was supposed to be handed over in Dec 2011. After having done 90% of the payment by Oct 2011 itself, only in Dec 2011, they inform us about a delay of 12 mth & inform a possession date by Dec 2012.
Now in Dec 2012, they are again pushing the possession by 3 mths(and I definately cant trust them).
What I want to highlight is the unprofessionalism from a builder of such high repute. They have no regrets and no penalty for delay). Also, this year, only when we called up to check status in Dec 2012, they are informing us a further delay (and all was on schedule until 2 months ago).
One critical thing I would like to highlight is that while 90% of work was completed in oct 2011 last year, instead of working on completing the rest of the work, they have invested their resources in bringing up the commercial block
I am looking for owners who have invested in Mantri Celestia (HYD) project and we really need to join hands against the builder to raise our voices. I have been very vocal about the issues but I don’t see any response from the management team on this. Srinivas Manda, the head for this project here, is of no use as he has no controls / inputs. No mgmt. representative is willing to face the customers and the poor Customer Relation Executive is the one taking all the bashing for no fault of hers.Only reason we had invested into the premium project (we had shelled 3190/sft when other projects were willing to negotiate for 2300/2500 / sft at those times) was the brand credibility. If that is only not there, the premium is definitely not worth it. I’m willing to go to consumer court or legal in order to ensure a penalty / ownership by the builder / management. If you / anyone you know has invested in Mantri Celestia Please reach out and we can take this forward together.
I have booked a flat in the F Block. While the new promised date, as of now, is Sept 2013, I doubt if any deliveries will take place before June, 14, if we are lucky. My loss every month due to interest on EMIs and opportunity loss from rent is atleast Rs. 36,000 per month. We cannot accept the meagre compensation of Rs. 3 per sft per month which has been mentioned in the contract. We had accepted this clause because, based on the reputation of the builder, we thought the delay would not be more than a couple of months. Let me know if there is any legal move to enhance the ridiculously low compensation. I would be open to join the group.I have booked a flat in the F Block. While the new promised date, as of now, is Sept 2013, I doubt if any deliveries will take place before June, 14, if we are lucky. My loss every month due to interest on EMIs and opportunity loss from rent is atleast Rs. 36,000 per month. We cannot accept the meagre compensation of Rs. 3 per sft per month which has been mentioned in the contract. We had accepted this clause because, based on the reputation of the builder, we thought the delay would not be more than a couple of months. Let me know if there is any legal move to enhance the ridiculously low compensation. I would be open to join the group.
My comments to replies
I have booked a flat in the F Block. While the new promised date, as of now, is Sept 2013, I doubt if any deliveries will take place before June, 14, if we are lucky. My loss every month due to interest on EMIs and opportunity loss from rent is atleast Rs. 36,000 per month. We cannot accept the meagre compensation of Rs. 3 per sft per month which has been mentioned in the contract. We had accepted this clause because, based on the reputation of the builder, we thought the delay would not be more than a couple of months. Let me know if there is any legal move to enhance the ridiculously low compensation. I would be open to join the group.
I have some inside media information that the group is in financial trouble. There has been a split among the brothers and this has effected the fortunes of the group involved with the Celestia project. One would have thought that they would have been concerned about their reputation in Hyderabad, considering that this is their first project here and any adverse news would effect their ambitious project at Jubilee Hills.
15th June 2013
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