The Chandras and Unitech are misleading homeowners
Developers Chandras of Unitech are misleading homeowners. They continue to launch new projects while families promised homes two years ago are still waiting. The World Spa project is a prime example. Ignored and left with no choice, owners in Spa are preparing to camp outside the Chandras’ office.
On April 2nd, at 11am, frustrated, homeless owners assembled at the Unitech offices seeking some resolution and a written commitment from Unitech on time lines for completion of each tower.With over 350 apartments and villas in the Spa East and West, the Chandras and Unitech likely collected over 450Crores – nearly 95% of the cost. Many owners have raised a question as to whether these funds have been misdirected elsewhere, away from the World Spa project.The work has come to a standstill for the past few months. The property was scheduled for delivery in the 2nd half of 2006. Two years later, more than half have not yet been delivered with no completion date in sight.
In A wing out of the 6 towers – 1 tower A 3 still remains unfinished. In B wing of the 6 towers only B 6 is ready for possession and work has completely stopped in the other towers for the past few months. Common facilities e.g., the club house, tennis courts etc also remain unfinished and semi constructed.
Seems that developers like Chandras of Unitech feel all homeowners and investors are powerless and are taking advantage of their position. They are taking money from hard working families, and not delivering what they have promised. And they continue to launch new projects(Unitech Grande and Unitech Gardens 2) with more fanfare and more promises. Current owners warn that the Chandras and Unitech are likely to ignore these promises as well once they have collected the funds.
The World Spa owners seem shocked at the high handed attitude of the Chandras, who in the last two years have neither responded to any communication nor provided any firm delivery dates. They find this totally unacceptable, coming from a developer who while launching the project had personally invited the owners to invest.
The delay and silence are causing great hardship. People’s leases have expired and they continue to pay high rents. Some had to leave their rented homes with no option. One of the owners, the Kapurs, had to be separated from their aging parents. Many have had to move into hotels or apartments awaiting their promised homes.
Some of the owners were looking to this as their first home and others as their retirement home. Their lives are on hold while Chandras and Unitech have shown an unresponsive and uncaring attitude. Residential projects are supposed to be self-financing, so they cannot understand the delay? Most of the money has been paid by the residents. Nobody can understand why there is a shortage of funds. The owners are asking where these funds have gone.
In this time of financial crisis, many of Unitech’s owners are forced to pay for rent and bank EMI’s, adding an even greater burden.
It is time for Unitech and all developers to use the funds they’ve collected to deliver the homes they’ve promised. On Thursday the 2nd. Of April about 60 World Spa owners gathered at the Signature tower to meet the Chandras to get a firm commitment for restarting the work. The Chandras did not meet the owners, but some Unitech officials said the work may resume soon and have promised to give a written commitment to his effect – but this has still not been delivered as yet.
Meanwhile people who have put in their hard earned money and life’s earning in the project continue to live in suspense and fear and wonder when and if they will finally get a roof over their heads.