Stay updated with breaking news from Delayed Possession. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Of the 1,015 warrants, only 180 have been implemented, resulting in recovery of 21 percent of the receivable amount, or Rs 131 crore, according to MahaRERA data accessed by Moneycontrol.
Started by Nirmal Lifestyle in 2009, the project stalled, and was sold off to Ricardo Constructions of Shapoorji Pallnji in 2019. The latter promised possession by 2021, but failed to do so.
Both directors have been held on complaints of 34 homebuyers who have not got possession of homes they booked in the projects of Nirmal Lifestyle.
Homebuyers at Kalpataru Immensa allege that after paying Rs 1,000 crore they have not got possession and are also not getting a hearing from the MahaRERA.
They allege a nexus between the authorities and builders, due to which registries are not taking place. In the absence of registry, homebuyers do not have ownership rights of the flats, they cannot sell these flat, and will not get any claim in case of a calamity.