Karrm Infrastructure — continuous slippage in commencement of construction

Address:

7A1D: MBC Park , MBC Compound Road Near Hyper city mall, Sainath Nagar Busstop, Kasarvadavali, Thane West, Maharashtra, Thane, Maharashtra, 400615

Hi there,

I have booked the flats in the karrm panchatatva phase-3 project in 2016. Earlier possession was supposed to be given by the end of 2018 but due to some there own reasons, they had postponed the date.

Until the 3.1 years, all the emi's were deposited to karrm infrastructure (Herein referred to as "builder') & after which, the builder had bonded us with bank of maharashtra for the loan process. After this, said emi's got diverted to the bank of maharashtra directly.

The problem actually begins here, firstly, even the bank has disbursed the part of the amount to the builder and on another hand, emi's being regularly deducted on a timely basis but the builder has not commenced the construction till date.

Later, another picture came in front of me, i e rera, where they had given the targeted date of completion on the end of 2022. It's really surprising, how the date can be extended to so far, 6 years...?? No visibility on project timelines..!!

Secondly, as per the gst rules, the current gst rate is 1% on real estate but emi's which are deducted on a monthly basis still consist of gst of 12%. No amendment/ revision made in emi's till date.

A lot of clarity required on -
How long i have to pay the emi's??
How is builder gonna tally all excess payable and excess gst payable to me at time of possession??
When the bank gonna inspect the site conditions as none of the work got commenced yet even after the part of the disbursement and how do they expedite the construction??

Karrm team isn't responding to calls as well & giving rise to customers dissatisfaction.

I hope this message will be treated on positive & hoping for the positive response from the consumer team.