Q:
Project was launched in 2008; means its taken 5 years, yet the flat is not deliverable. It takes no more than 1.5 years to construct one's own house on a piece of land having 4 floors (all with good interiors and the best of construction material).
Ramprastha launched several projects since then, like, Atrium, View, Rise, Primera (@ Rs 6500/- BSP) and more. But possession has not been given for the Edge Towers even after 5 years since the project was launched.
Is it not fraud on part of the builder that it launches projects; raises money from investors (obviously who lose interest as even banks give 9% per annum ROI on FD's), and then instead of putting all resources and manpower in delivering that project, the builder diverts the funds and labour to the new projects launched; and then once it acquires 50% project money from investors, a new project is launched and so on.
Ramaprastha might just make history "by taking a decade to give possession" ....they have already taken 7 years for the 1st launch of theirs - the edge towers !!! so a decade is not that remote a possibility. Their Modus operandi - collect money from one project , make the basic structure...shift the money to a new project, and so on.... Now all buyers are stuck! and Ramaprastha is just having a ball (brick) of a time. the Government just wants to sit on it's Laurels and not do anything about these Cheats, instead wants to keep collecting tax from these very harrowed and financially burdened buyers. We should now just tell the Gov - no taxes on our incomes etc.... till possession.
I was there on 4th June 2016 and checked with the people around. The work has stopped almost 4 months back completely and there was not even a single construction worker on site.
The Sales office people don't respond. We all need to do something about this.
Manu Dhir 9654176176
16th June 2016
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