Spread across five acres, ILD Grand was launched in 2011. The developer, International Land Developers, had promised to give possession by 2016. Even after four years past the deadline, however, the project is only about 70% complete, while buyers have paid 95% of the cost.
Last Wednesday, the builder held a meeting with the ILD Grand buyers’ association to explain the current status of the project. In the meeting, the developer proposed to take additional loans for completing the project and asked for a memorandum of understanding from them stating that they wouldn’t seek a penalty for delay in possession.
“The builder asked buyers to withdraw all delay penalty claims for the completion of the project. The association didn’t agree to this,” a buyer said.
On Friday, the second round of meetings took place. “In this meeting, the builder proposed another meeting the next day, in which they invited buyers’ representatives as well as their financial lender, IIFL,” said Ramesh Dawani, a senior citizen and retired Union home ministry official, who leads the buyers’ association.
“On reaching the office on Saturday, however, the builder refused to meet us. They misbehaved with us and kept us waiting outside,” Dawani added.
“This behaviour has raised serious doubts in the mind of buyers about whether we will ever be able to see our homes. Many buyers are young salaried professionals while the rest are retired personnel. The developer is not concerned about the hardships we are facing,” said said Aditya Nanda, another homebuyer.
When contacted, the developer said their staff did not misbehave with buyers. “Instead, the buyers misbehaved with our staff and hurled abuses at them. The demand we have raised is in accordance with the stage of construction and money is required for the project to be completed,” a spokesperson said.