Flat buyers of Eastern Ranges are seriously wounded, but defeated.
 |
| Flat buyers of Eastern Ranges are seriously wounded, but defeated |
1) Pradeep, a 47 year old freelance advertising professional, wanted to relocate to Pune.
In 2013, he sold his flat in Mumbai & booked a 2 BHK flat in Phadnis Eastern Ranges in Keshav Nagar, Mundhwa.
He was going to get possession in 2014.
As per the builder's demand letters he paid nearly 75 % of the property price.
Pradeep was eagerly looking forward to shifting his family & starting his business in Pune.
But, suddenly, by the end of 2013 itself, construction activity at Phadnis Eastern Ranges stopped.
And for the last 3 years Eastern Ranges is stalled.
Pradeep has already sold his flat in Mumbai.
There was no possibility of getting possession of his flat in Eastern Ranges.
So, literally, Pradeep became homeless.
He had to give up his dream of shifting to Pune.
He has rented a 1 bhk flat and is living in Mumbai. With his family, shattered dream, and shame.
2) Vijay's son - who is abroad - booked a flat in Eastern Ranges because the builder's daughter was a friend of his friend.
He was going to get possession is 2014.
Though the project is stalled, Vijay's son is paying 40,000 EMI to SBI.
But paying EMI is not a qualification when it comes to arranged marriage.
Girl's father expects that a groom must have possession of a flat.
Which Vijay's son doesn't have and doesn't know when he will get it.
Get my money back and buy a flat in some other project. Vijay's son told him long time ago.
Vijay requested refund. The builder - Mr. Vinay Phadnis - agreed. But hasn't refunded yet.
Today, Vijay's son has no flat, no wife, no life.
3) After visiting nearly 50 projects in 6 months, in 2013, Mahesh booked a flat Eastern Ranges.
Mainly because - 1) many recommended Phadnis Properties, 2) construction was in full swing and 3) possession was in November 2014.
But Eastern Ranges was stalled in 2014.
Mahesh was transferred to Mumbai. Where he is paying 20,000 rent for a 1 bhk.
After paying 20,000 rent + 40,000 EMI he is left with only 25,000.
Obviously, in an expensive city like Mumbai, Mahesh finds it difficult to manage his monthly household expenses.
Mahesh can't afford to send his son to one of the best schools in Mumbai. He had to get admission in an ordinary school.
Mahesh can't even think of buying a new car.
After a successful career of more than 12 years - Mahesh is finding it difficult to make both ends meet.
4) These are the stories of 3 flat buyers in Phadnis Eastern Ranges Keshav Nagar Mundhwa.
There are 97 more.
In the last 3 years, everyone of them has suffered a lot.
Stalled Eastern Ranges has wounded everyone deeply.
But they haven't given up.
They stand tall, strong & united.
They have tried all possible ways to get possession of their flats.
They have lost many battles.
But they are sure that they will win the war.
Though they are all alone.
5) What happened with the flat buyers of Phadnis Eastern Ranges can happen with you too.
Even RERA can not prevent this from happening.
In fact, RERA is less for "regulation" and more for "development" of real estate business.
RERA is a trap set by the government to help the builders to catch more numbers of flat buyers.
RERA will create a false sense of security among the flat buyers.
Result is more number of people will be happy to book a flat at launch / under construction stage of the project and give away their home loans to the builder to spend as per his wish.
What say you?
Please, share your views in the comments.
Related Stories:
1) Don't book a flat in Pune till RERA is implemented
2) 5 Objections Against Maharashtra RERA Rules
3) Is there anybody who has booked a flat in DSK Dream City?
4) DSK is struggling to get his ducks in a row
5) Absconding Builders & Abandoned Housing Projects in Pune
6) How to avoid being duped by the nexus of builders, banks & architects?
7) Yes! Most of the builders in Pune are unfit for booking a flat at under construction stage
7) Treat your builder like a stray dog
Subscribe for Free!
To receive free emails or free RSS feeds, please, subscribe to Ravi Karandeekar's Pune Real Estate Market News Blog
Feel free to call me:
I enjoy talking, sharing my views and giving advice about buying property in Pune real estate market.
My email id is RaviKarandeekar@RaviKarandeekar.com Feel free to write to me. I reply as soon as i can.
If you want my advice, feel free to call me on 919860044110. First 3 minutes are free! And for more than 3 minutes - pay as you wish - you decide the value of my advice.
Of course, for a serious discussion, better fix an appointment at a time convenient to both of us. So that we can have uninterrupted & in depth discussion on my mobile (919860044110)
- on Video Hangout on Google+
- or on Skype (ravikarandeekar) .
For more than 3 minutes and up to 30 minutes - pay as you wish. After the conversation - transfer the money to my bank account. As much as you wish. From a few hundred to a few hundred thousand crore of U S Dollars or Indian Rupees. Here are my bank account details:
Ravindra Karandeekar,
Bank of Maharashtra.
Savings A/c no- 20047674794.
Branch- Bajirao Road Pune MICR Code 411014010.
IFSC- MAHB0000001
Thanks Ravi ji for putting up our pain to words. Phadnis have shattered our lives and dreams. I'm one among the victims waiting to relocate to Pune, but without a own house and staying in a rented apartment along with monthly EMI will be a nightmare to think about. The core team and fellow flat buyers have done the best so far by trying all the means, but yes we lost so many battles and we still hope to see some miracle to happen. All that we do now is pray and continue to fight to get our rights back.
ReplyDeleteFile Police FIR & ensure you get court orders that builder passport is to be confiscated so that he doesn't flee the country. Only then proper legal proceedings can take place else this risk will always be there of builder fleeing the country.
Deletewhats the point in filing FIR against already dead and bankrupt builder? i heard that Banks have taken over possession of his own house and office too. so just like us, he is also homeless now. better wait and pray that he comes out of all the shit. he is a nice man and actually a man behind DSK's success but totally failed as a businessman himself due to heavy over trading and unrelated diversification. Many fools like my father trusted these builders more than banks and invested with them and now suffering.
Delete"whats the point in filing FIR against already dead and bankrupt builder?"
Delete- This itself shows that you have given up hope of winning. If buyers themselves don't have winning attitude in them, then even Lord Brahma won't help you. Person without hope & never say die attitude is medically alive but practically dead person.
Why don't you atleast try ? Even if you go down, go by putting up a fight & you never know when game can change in your favour. Tomorrow you should not repent that this could have been done but we didn't.
If not flat, atleast try to get money back. Have you atleast explored this option legally ?
"he is a nice man and actually a man behind DSK's success"
- That's why DSK also has gone bankrupt ! This is what happens when greed controls the mind.
"so just like us, he is also homeless now."
- Builder is homeless because he is a moron. You are homeless because you trusted a moron but not fighting for your rights will make buyers also moron. So do what is supposed to be done without any prejudice.
RERA which is coming up next month will certainly be of help. Till then file Police FIR against the builder.
"Vijay's son - who is abroad - booked a flat in Eastern Ranges because the builder's daughter was a friend of his friend. "
ReplyDelete- Did the builder keep his daughter as collateral against his flat booking or was he going to marry her off incase of default ? What stupid reason to put money into flat just because someone is somebody's something.
It is more than year when it was mentioned that Phadnis is bankrupt & his properties are being taken over by banks & other financial institutions & things aren't going to change or rather get worse.
"They have tried all possible ways to get possession of their flats. "
- Have they filed Police FIR ? Have they gone to court against the builder ? Consumer court ?
Now rather than shooting here & there, be focused & see what flat buyers in other cities are doing to get their rights with proper planned execution.
Faced with defaulting developers? Here is what homebuyers must do -
If you are one of those who have been duped by a builder or are waiting indefinitely for your flat to be handed over, what should you do?
http://www.moneycontrol.com/news/trends/current-affairs-trends/faced-with-defaulting-developers-here-is-what-homebuyers-must-do-2252465.html
Btw, this once again shows why under-construction flat should not be purchased.
wonderfully put monk!one more case, hope some day flat buyers open their eyes! As a builder by myself who sticks project to project I am worried as this over trading & then landing in trouble & making own flat holders feel cheated will ruin rather has ruined real estate industry!Thats why RERA came in but even RERA cant save fools as no law can prevent crime its just post crime thing! We can expect to keep our homes door unlocked & then expect the police to catch & punish robbers!What say monk?/
Delete