This is a project by Coredelia Realty website -
coredelia.com/
in the Vihour village, near Murud on the western sea front facing Arabian sea.
It is a hotel+ residence project where buyer has option to invest in hotel rooms and receive rent or buy residence(studio, 1BHK and 2BHK). I invested in the regular home studio apartment in the year 2014, hoping to get completed by 2016 in 2 years time. as been promised during my visits during the deal.
Now 4 years have passed but the not even plinth of the apartment where my flat is located is ready, which is very common case.
However the most unique case starts here - I had a home loan from SBI which is a affiliated bank to this project. The SBI bank auto-closed my home loan in December 2016, because there was no intimation from the developer to the bank on the next disbursement stage. I was experiencing for the first time that a bank is closing my home loan due to non-compliance from the developer’s side.
After which I have been following up with developer and he has been assuring me on mail that we will redo your home loan with other bank, but entire 2017 passed and there were no signs of it another loan.
After running out of patience and blocked funds, I decided not to continue anymore with this investment. I asked to close the deal and return my money back. I finally, was able to do a sales closure deed in January 2018 with them.
However as expected after that they have not yet paid my amount due, which usually all(fraud) developers do, giving very lame excuses. I have decided not to stop until I recover all my monies. If you feel you have gone through similar experience with developers, please share and comment. Any kind of advise is welcome.