Neptune Group — Delay in house construction , and reimbursement of PRE-EMI

Address: Mumbai , Maharashtra

Myself Rupam Ghoshal flat owner ( (Ekansh C / 1411) of the Ramrajya Project, Ambivli wish to inform that the project Ramrajya was launched with many state of the art amenities & Zero EMI until Possession and with guaranteed possession starting from April 2022

Accordingly, construction work of buildings started in Aug.’2018. We all owners made payment from time to time as per demand raised by the builder and till March’2019, maximum owners have already made payment of about 45% of cost of the allotted flat. Construction work was going on in full swing till March’2019, but suddenly it stopped . however, since then till now no progress for construction of buildings have taken place at the project site.

As per the commitment, there has to be Zero-EMI till possession. In this regard, a tri-party agreement was prepared, valid for 24 months saying that initially it can be prepared only for 24 months and after completion of this period it will be extended further till possession. In this regard letters were also issued from the builder to all flat owners. However, after completion of 24 months of the said Tri-party agreement, builder has neither extended the said tri-party agreement nor has issued any fresh tri-party agreement. Now, all flat owners, including me, are paying the scheduled pre-EMI being deducted from their respective nominated accounts and ALL OUR HARD EARNING MONEY IS GOING OUT WITHOUT ANY RESULT. As per the said commitment, Builder has to reimburse the P-EMI paid amount to us but till date only 2 months PEMI paid to me . Rest all are pending . It was told by the builder, it is a temporary arrangement and will be sorted out very soon. However, even after passing more than 15 months, builder has not made any concrete solution on this issue. Rather, earlier the reimbursement was being done within 15 days of deduction of Pre-EMI, as promised are now being delayed for more than a month or so. Many of we owners have not yet received reimbursement of their deduction since the last 15 months.

I had been continuously following up via mail from the last 15 months for my Pre-Emi refund deducted for (Nov'20 to till date) but still there is no mail acknowledgement or any kind of revert for the same.

I request consumer compliant forum team to help me to get rid out of it.