The PMC Bank Scam Has Made HDIL Home Buyers Lose Further Confidence In The Builder.
By Varun Singh
Home Buyers who had booked flats in HDIL’s project and are awaiting possession of their flats since years do not know what they should do next. Only last month a group of 450 home buyers who had booked their flats in Wishpering Towers in Mulund wrote to the Prime Minister seeking his intervention so as to get their flats. They say that they have been homeless since nine years and he developer HDIL has paid no heed to their requests of giving them their homes, for which they have already made the payment.
The letter addressed to the Prime Minister, has the subject, 450 plus home buyers are homeless since 9-years in the Wishpering Towers Project. The letter states that “We are in dire straight and have exhausted all other options and are left with no other choice but to approach you. We are 450 families who have booked flats at HDIL’s project in Mulund. The project was commissioned in 2010 and booking were accepted since then. However, in last 9 years, only 18 out of 46 floors have been constructed and in the second phase of the project no work has been done.”
Shyam Chittari, one of the home buyers who is facing the problems since 2010, says, “We have knocked all doors, but have not got any respite. Only three and half weeks ago when we met the developer, there was no solution even then too. We have written to the PM with lot of hope.”
The letter talks about 10,000 families that would be affected in several projects of the builder. Chittari says while 5,000 could be home buyers, the remaining would be slum dwellers who were promised home and even those projects haven’t been completed.
The letter states, “Cumulative these 450 home buyers have paid close to Rs 350 crore to the developer, who has in addition to this taken approx Rs 175 crore from various banks. Approximately Rs 525 crore has been raised by the developer for this project and there is no accountability of this money which makes us believe that there is a strong possibility that this money has been siphoned off.”
The letter reiterates that home buyers are the only sufferers with a lot of financial burden on them. “There are cases where people are struggling, many friends who had invested here, are finding it hard to even pay the installments now and even rents,” said Chittari.
According to the letter, the developer event moved the possession date from December 2014 to August 2023. The home buyers are hoping that government will look in to their matter and finally give them some respite.
Worth Of Projects Stuck
While it is difficult to ascertain the exact quantum of the project cost that would be stuck because of stalled projects of HDIL.
A home buyer said that there would be close to a dozen projects of HDIL and its subsidiaries stuck in various stages of construction.
Every project would be worth between Rs 1500-2000 crore, thus taking the value above Rs 20,000 crore. This money would include every aspect of the project like home buyers payment to developer, cost of project, and others aspects.
HDIL and Its subsidiary companies have projects stuck in various stages of construction these are spread in Mulund, Kurla, Goregaon, and other areas.
Home Buyer Speaks
Nishant Mehta, had booked a flat in HDIL’s Palghar project in 2010. He had to urgently shift from his Vike Parle house because of some reasons. However, its 2019, and now Mehta is forced to stay as a paying guest. “I paid more than 90 per cent of the flat cost, there are 4,500 home buyers in this project. The developer collected funds from us and diverted it to another project. Till now only 450 people must have got their homes still 4,000 home buyers are suffering.” Mehta is fighting a battle against the developer in Consumer court which he says is at the final stages.
