[Resolved]  Lodha Group — Inordinate delay in handing over possession of flat in Lodha Aurum Grande, Kanjurmarg - Mumbai

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Mumbai City, Maharashtra

I have been amongst first few buyers into Aurum Grande Augusta way back in Oct '10. While booking, Lodhas had promised possession by Dec '13. After 20% value was paid-in & locked, they changed it unilaterally to May '14. While contracting, they put April '14. In Oct '13, their first letter landed informing delay in possession to Dec '14 - cleverly keeping it within 9 months grace period contract allows Lodhas (again, no negotiation on this one-sided provision). In July '14 landed another letter ... now delaying 'handing over for fit-outs' (still no confirmation of occupation) to April '15. Predictable excuses: delays in clearances, approvals, changes in some govt. regulations, material / labour availability, etc etc. - though their own letter around Sept-Oct '13 informed having received all approvals for 34-storey towers. When questioned, they point at contract: Beyond 9 months grace, buyer has option to sell back to Lodhas & ask for refund of all payment with 9% interest PAYABLE OVER 11 MONTHS. With property rates having appreciated, no buyer would opt out at original contract price. With the money refunded, you can't buy another comparable property as rates would have gone up in 3-1/2 years. Trapped!!! Same story at most other projects: money rolling & using buyers' money to grab more land even as current projects get delayed ... especially those in suburbs. Worse, when you enquire about their high-profile projects in Mumbai city, folks have audacity to comfort you by saying 'middle income group projects get delayed, not the signature ones'! Time we buyers in Aurum & Aurum Grande join hands in this fight ... I'm reachable on [protected]@live.com