Indiabulls Real Estate (Through Its Subsidiary Lucina Land Developemnt Ltd.) — Non-receipt of Interest on Deposit till the date of refund

Address:

Thane, Maharashtra

I had booked a 2BHK Apartment in Phase-2 of Indiabulls Greens Panvel Project (Tower 43, Unit 1205), through its subsidiary Lucina Land Development Ltd. in Feb. 2013 and had paid 20% of the cost at that time as booking amount. As they failed to commence the work even after 2 or 3 years of their marketing of Phase-2, thanks to concerted united action of the aggrieved apartment buyers in this project, the Indiabulls Management finally agreed in the 2nd half of Nov. 2014 to refund the amount paid along with 12% interest till the date of payment. However when they paid me the amount after 3 months on 5th March (the cheque bears the date 2nd March 2015), they paid the interest calculated till the end of Nov., 2014 thus depriving me interest upto the date of payment. There are hundreds of similar miserable buyers like me with Indiabulls Greens Panvel Project Phase-2 who have suffered at the hands of Indiabulls. Since I have already lost more than Rs.50, 000 in interest beyond Nov. 30, 2014 till now and the amount continues to go up till the sum is finally paid, I want Indiabulls to stick to their commitment arising out of their own inability to deliver the promises made by them and pay me the remaining interest.