animani

Can someone update me about MVL Coral, Bhiwadi?

animani

I have burnt my hands putting my money in this project. This Builder has not delivered any project yet but claims to be one of the reputed builders in their advertisements.
I had booked a flat in MVL Coral Bhiwadi in July,2006. Builder buyer agreement was signed on August,2007. As per builder buyer agreement, flat was to be delivered within 36 months from the date of signing of agreement. Flat has not been delivered till date. I have already paid 90% of the total amount to the builder. Recently when I visited the site, I found very less construction activity at site. I may not get my flat in next 2-3 years. I had enquired about the status of the project many times from the builder. Builder did not respond to any of my emails and written complaints in this regard. verbally they had assured me about the possession of the flat very soon. But looking at the sorry state of construction at site, It seems they are not interested in completing the project. They have extracted enough money from customers and their objective is full filled.
Please suggest, What are the options I have? should I go to consumer court?

djvjain

How much do you say is the construction of your unit done - is it atleast 50% or so? If not and you had paid close to 90% payment then it is somewhat a matter or worry as the rest of the project would take good amount of time from here to complete. It seems like you are much above the time limit set in BBA and it would not be a bad idea to talk to the management in an aggressive tone about taking a legal action.

One thing to keep in mind though is what you want to achieve after going to court - money back or flat? Builder would not complete just one flat and will take his own sweet time to complete the building. If you want your money back with interest then request the same from the builder first and see what he says.

animani

It is very difficult to evaluate construction quantitatively. Builder is constructing 4 avenues. They have finished 1 avenue in January,2011. But possession of that avenue has not been given till date. Avenue where my flat is, has not been finished yet. Builder has finished flooring, internal and external plastering of this avenue in 2010. But there is no progress after that. Builder has started construction of other avenue about 1.5years back. He is concentrating more on it as he will get about 75% of construction linked installment till construction of top slab.

djvjain

The way I understood with whatever you have explained, it seems like your unit is very close to being done and builder is just sitting on it.

I recommend you to go to the builder's office after doing some calculation of late penalty amount. This could be more than 10% of the last payment and if it is then try to work out an agreement with the builder for this last payment. You can ofcourse try to scare him by mentioning legal action, but I am not if he would take that seriously.

What are the re-sale rates of your unit in MVK coral, in case you want to dispose it? Rates for flats in Bhiwadi have gone up by 20-30% in last 1-2 years and it could be more for you if the purchase was done in 2006.

cookie

I thought MVL is a good developer. Same builder has lauched indi homes too in bhiwadi. Don't know what happed to that.

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Thanks

djvjain

Indi homes -where is that cookie bhai?

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Bhai

It was launched on alwar road only, I am very sure about it, not sure about progress.

cookie

Brother

Just Google "MVL Indi Homes", you would get all the details.

djvjain

I checked with someone and construction speed seems to be very slow at the moment. They made most of the progress at this project like a year ago and since then nothing much was done.