[Resolved]  Lodha Bellissimo — Material Changes in Project

Address:

Mumbai City, Maharashtra

The Lodha Bellissimo project was originally sold based on two towers with a total of 188 flats being housed within an 18,000 sq.m. campus. A further 10,000 sq.m. land adjacent to this campus was for development of a Corporate Tower.

The original project Brochures and presentations uniformly highlighted these in great detail based on which they received excellent buyer responses.

Subsequently, after securing TDR rights a third tower was added onto the same 18,000 sq.m. area substantially diluting the area/flat ratios.

Another scam idea developed by the politician-builder nexus in the form of public parking spaces being built in exchange for further FSI saw the Lodha builders blatantly withdraw almost 50% of the open area earlier reserved for the Bellissimo clubhouse and garden to build a new tower called Lodha Primero.

None of these developments were ever conveyed to Bellissimo buyers. While the Brochures and Sale Agreements had adequate legal safeguards to prevent any action being taken against such blatant breach of trust, the enormous erosion in goodwill will cost the Lodha Group dearly when they search for buyers to fill up the 117 storey World One project.

Similar complaints coming from all their projects provides evidence to the fact that the greatest marketing tool is eventually a good product and ethical business practices. I hope the wisdom of this fundamental truth dawns on the Lodha Group sooner rather than later.