As a flat purchaser in the Raunak Centrum project since 2021, I feel it’s essential to share my ongoing experience, especially for prospective buyers considering this investment. My earlier review, which I encourage you to read on Google Reviews and Mouthshut.com, highlighted my concerns regarding significant delays that continue to plague this project.
Link https://mouthshut.com/projects/raunak-centrum-sion-mumbai-review-lsrrlnnlmnp(has got 1759 views)
Despite the recent attractive marketing materials and recent promotions, I strongly urge potential investors to conduct thorough due diligence before committing. The project’s timeline has been repeatedly extended, and the lack of clear communication from the developers is alarming. The positive reviews that you read are from Channel Partners(do some detailed research on them)
Existing flat owners of Raunak Centrum should write to Mr. Rajan Bandelkar(Managing Director & Chairman Raunak Group) on xxxxx@raunakgroup.com to seek answers on the Project Delays & Possession Date. If all flat owners write then Raunak Group will be forced to come out in the open and justify delay and answer concerns pertaining to Project Delay Compensation.
Key Concerns:
Project Delays: The completion timeline has faced multiple revisions without satisfactory explanations. Initially promised for July 2024 at the time of booking as Raunak will sell stating we give possession 6 months before Agreement Date, it was later adjusted to December 2024 citing Landslide. Most recently, I was informed that possession might occur in May or June 2025, although a troubling email response suggested December 2027. This inconsistency raises serious questions about the project’s viability.
If you notice then Raunak Group has stopped giving Project Updates on Raunak Centrum for more than a year now on all their Social Media handles.
Attaching a picture of the project dated 28th September 2024 and the project has been in this state since the last one year or more.
Attribution of Delays: The official explanation for the latest delays cites a landslide and subsequent stop work notice. However, I have a letter dated August 2023(screenshot attached) stating that the stop work notice was revoked, and work had resumed. This contradiction raises concerns about the transparency and credibility of the explanations provided.
Communication Issues: My attempts to seek clarification have largely gone unanswered. I have reached out to several members of the Raunak Group, including Roshan Saldanha(our relationship manager), Sarita Parab, Manish Bhumre, and even Managing Director Rajan Bandelkar, but responses have been minimal and unsatisfactory.
Financial Concerns: Having paid 90% of the project cost, we are now left in a precarious position, facing ongoing home loan payments and interest charges while awaiting possession. The lack of clarity regarding project financing and potential litigation is worrisome.
Compensation for Delays: According to the agreement, the completion date was set for December 2024. With timelines continuously being pushed back, I have yet to receive any information on compensation for these delays. The silence from senior management on this matter is unacceptable.
I hope my experience serves as a cautionary tale for others. I will be exploring options of approaching MAHARERA and the High Court once December 2024 timelines are completed.