BENGALURU: Hundreds of frustrated homebuyers staged a peaceful demonstration on Saturday to protest the significant delays in receiving their apartments from the Shapoorji Pallonji Group. The demonstration also highlighted concerns over the multiple extensions granted to the developer by the Karnataka Real Estate Regulatory Authority (KRERA).
Many purchasers had anticipated taking possession of their flats in Parkwest Magnolia Tower 5 and 6 before 2021. However, the COVID-19 pandemic reportedly led to the builder receiving an extension from KRERA. Despite homebuyers being made to sign settlement agreements by KRERA, which promised delivery by September 2024, the developer has yet to hand over the units to those who have already paid 90% of the total amount.
Suraj Shanbhag, one of the affected homebuyers, expressed his exasperation, stating that they have been waiting for more than six years for their flats, having already remitted 90% of the total cost. He added that efforts to engage with the Shapoorji Pallonji Parkwest project authorities have not resulted in any acceleration of the construction’s completion.
Chetan Ostwal, another homebuyer, voiced his dismay regarding the delay, noting that he paid 90% of his flat’s cost in 2018, with an expected handover by April 2022. Ostwal shared his personal motivation for the purchase, saying, “My objective was to facilitate my children enjoy the facilities available at Magnolia. I am not happy with the builder for the delay in completing Tower 6 and handing over the flats to the home buyers”.
Piyush Mehta, who reserved a flat in Tower 6 in 2016, was initially scheduled to receive it in 2020 but is still awaiting possession. He highlighted that KRERA has granted the builder three extensions, yet the construction remains unfinished. Mehta, who has been renting a flat in an adjacent tower for six and a half years, lamented the futility of his attempts to contact the project manager. The homebuyers are now urging the builder to secure adequate financial resources to finalize the outstanding work.
In response to their ongoing demands, the homebuyers intend to organize a hunger strike on June 21.
A spokesperson for Shapoorji Pallonji Real Estate acknowledged the concerns raised by customers of Tower 5 and Tower 6 at Parkwest. The spokesperson stated, “We understand their anxiety and assure all stakeholders that we are fully committed to the completion and delivery of their homes”. Furthermore, the spokesperson confirmed that they have engaged with resident representatives and have finalized a structured funding plan to meet the targeted completion date.
