I booked a flat in Feb 2018 and by that time the BBCL Midland project was started, foundation done with pillars, slabs and under construction, might be 2 years old. One of the BBCL members guaranteed in initial days while booking, that BBCL will give some compensation(calculated based on rent in that locality) if there would be any delay in process or completing the project as per RERA guidelines, unfortunately I didn’t take a written statement as a proof.
As per RERA Act and Rules:
_ RERA registration mandates that developers provide accurate project completion timelines. If there are delays, developers must compensate buyers for the time extension.
_ RERA has mandated that developers sell properties on the basis of carpet area rather than high-density area. If the project is delayed, buyers have the right to recover the full amount of their investment, or they can opt for an investment and receive a monthly return on their investment.
_ Prior to RERA, if the promoter delayed possession of the property, the interest paid to the buyer was much lower than if the buyer delayed payments to the promoter. This has changed with RERA and both parties have to pay the same amount of interest.
After 6 yrs of long wait, recently they announced to have the keys handed over, and I’m looking forward to it as they are going to complete the work in a couple months still in progress, but now they are expecting me to pay the balance amount(almost paid 95% and approximately 5% yet to pay) without any compensation for this long wait of 6yrs.
Addition to that wanted me to provide all the proof of these payment transactions, which I paid 5 years ago, apparently they don’t maintain the details about these transactions and credit notes offered by BBCL agent at the time of booking and top of it, bills or bank statements that I paid 5 years ago and top of it, bank statements are unavailable now to take online and unfortunately I’m not in India.
I have all the emails that they sent, even from the managing director, stating that the BBCL Midland project is going to be completed soon, each and every year since I booked.
They scheduled a call with the managing director and he refused to discuss. Now not even a single person is ready to listen and discuss our pain. So pathetic and the worst service.
Still I have been waiting to let them finish and hand over my keys.
I don’t know about others, this was my experience.