Lodha Palava – Delay in possession

Dear sir,

I booked a flat in Lodha palava (Riverscape) in June 2010 and my possession as per agreement was due on Aug 2013. It is now close to 2016 and am yet to get the possession. First possession was planned for Aug 2013, then they said may 2014 and then June 2015 and now they say May 2016. This seems to be never ending. Builder says they don’t have man power and raw material. But they are still coming up with multiple projects in the same area and other projects in parts of Mumbai. They have taken 95% of the agreement amount already and now the building work is stalled from last 3 years. Lot of people are suffering because of their callous attitude. The agreement is also one sided where the delay in payment by customer is charged at 18% annually while the same from builder side is left to 12 equated installment if the possession is delayed and only if you cancel the flat booking.

Is there any resolution to such issue? or do we leave this to builder’s discreet and let them do the wrong things even in future?

an unhappy Lodha customer,

Vimal