If you are buying a flat in Poona, watch out

SUNIL SALUNKHE writes from Poona: Just wanted you and your friends to know about the experience of 60+ of us (mostly IT people) with Goel Ganga builders. They are, so to say, prestigious builders but they have cheated all of us.

Here is the story in short.

Most of us booked flats in their Akashganga project at Wakad around 6-8 months back at a rate of Rs 1,250-Rs 1,400 per square foot. They started the building work a little behind schedule, but work is on. However…

However, as the prices in the Wakad area have gone up in the last six months (it is now hovering around Rs 2,000 per sq ft) they have become greedy and are asking all of us to cancel booking citing various reasons.

Those who have completed the registration formalities also are being asked to cancel.

Either they are saying that the project plan is not sanctioned (it is not sanctioned for the 5th, 6th and 7th floors, but it certainly is till the 4th floor) or they are threatening that it may not get sanctioned.

A different ploy is being used on those who have bought in the first, second, third and fourth floors. They are being told to make full payment in the next two weeks or to cancel their booking. And this, despite the building work still being stuck in the basement parking area.

Obviously, no bank is willing to disburse the full loan amount so this is clearly the builder’s ruse to kick people out.

At this time if any of the 60 people want to get out of the project and book somewhere else, they will lose the price advantage. Some of them may not be even be able to afford the bank loan because of the price differential and hence won’t get house of their choice.

We are trying our best to ensure that they do not succeed in gypping us. But I thought all others who are in the buy mode across the country should be warned of such unscrupulous practices of builders and developers.