Buyers hold ‘dharna’ outside Mumbai-based builder’s delayed project

Buyers hold 'dharna' outside Mumbai-based builders delayed project
Grandeur Kamla Landmarc

Kamla Landmarc, a Mumbai-based developer, is facing protest from hundreds of buyers across the city over undelivered homes and office spaces. Back in 2012, the builder had gained huge publicity after a failed bid to own the Deccan Chargers IPL team.

According to a Times of India report, the investors have finally complained to the police about the builder after failing to handover properties four years later. The complaint against the builder is on the grounds of cheating and misappropriation. An FIR is expected to be filed soon.

The investors have paid upto a crore for the properties, but most of the projects haven’t begun or have failed to get the necessary permissions from the authorities. The issue came to light after many flat owners held a ‘dharna’ outside the builder’s incomplete residential project Granduer in Mulund (W). While the builder claims that the issue is restricted to just one property, owners maintain that his other properties in Andheri East (Brahans Business Park) and a residential property in Bhandup have also got delayed by years.

While speaking to the leading daily about Kamla Landmarc’s projects, Maharashtra Pradesh Congress Seva Dal leader Rakesh Shetty said, “The developer resorts to a publicity blitzkrieg assisted by a group of agents, who facilitate heavy bookings by luring gullible investors. After that the project is never completed. Almost all projects floated by the developer have stayed on paper”

Kamla Landmarc tried to address the concerns by issuing a public statement that read, “Some people have been spreading baseless information about our 40-year-old company. We have delivered 36 projects in Mumbai and are relentlessly working to deliver others. We are constantly in touch with our investors in person or through respective consultants”. It further mentioned, “All our investors and purchasers have been offered alternate project or buyback, with a specific timeline for possession or re-payment with mutual consent. Due to changes in development control rules and unprecedented changes in policies, some amendments and rectifications were necessary to be incorporated in under-construction and upcoming projects.”

Back in November 2015, the builder had received a public notice for failing to pay back Rs 7.5 crore loan and properties belonging to two company officials were seized by the bank.

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