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Press Release

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has directed developer to give an undertaking that the firm will cover any losses suffered by five home buyers, who got refund orders for delayed possession last month, till the filing of an appeal with the appellate tribunal.

On September 27, 2018, MahaRERA had ordered the developer to refund the investments of five home buyers โ€“ Rahul Bhosale, Hitesh Shah, Riyaz Jetham, Alistair Gomes and Sachin Kadam โ€“ who had booked flats in Acropolis project in Virar through a subvention scheme in which buyers paid eight per cent of the flat consideration and the banks paid the remaining 92 per cent. The order was to be executed by the developer within 30 days from the date of the order.

The subvention scheme itself is a very big scam, in this scheme the builder gets almost 95% of the loan amount on signing of the agreement without laying a brick, unlike regular home loan where the bank pays to the builder as per progress of the work, the builder lures the home buyers on promise to pay EMI till he hands over the possession, but when builder fails to construct or give possession on time the liabilities comes on the home buyer and the home buyers becomes defaulter and not the builder, in subvention scheme builder charges 10% more then the market value which the buyer realises on the later stage, subvention scheme is design to cheat home buyers.

The developer approached MahaRERA again on October 11 and got a stay on the order till October 24. On October 24, the matter was heard again, and the developer sought extension of stay on the execution of the judgment till the end of 60-day appeal period, citing financial crunch to pay the decretal amount that needs to be paid before the Maharashtra Real Estate Appellate Tribunal.

According to Section 43 of RERA, the appellant has to deposit 50 per cent of the amount with the tribunal before the appeal can be heard.

During the hearing before MahaRERA member Madhav Kulkarni, Sulaiman Bhimani, who appeared for the home buyers, strongly opposed the stay petition arguing that home buyers will suffer monetary losses since they had purchased the flats with bank loans and are paying EMIs. He argued that Rahul Bhosale, who had taken two bank loans, had received a foreclosure letter from the bank stating that if dues are paid before a cut-off date, he will get a concession of Rs seven lakh. He argued that home buyers will suffer immediate losses if the stay is extended.

Kulkarni then directed the developer to file an undertaking to make good any losses suffered by the home buyers till the end of the 60-day appeal period which ends on November 26. The stay was granted after developer complied with the undertaking.

Sulaiman Bhimani Legal Consultant
Expert RERA & Co-operative Scty Matters
Human and Civil Rights Activist
President Citizens Justice Forumย 
9323642081
Sulaimanbhimani11@gmail.com

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Cloth Bank is an initiative of Ahambhumika. It aims to match surplus clothes many of us have and provide them to those in need.

Particularly children's clothes. Kids grow up so fast, the ones who do have loads of clothes outgrow them while they are still in great condition. The ones who have few clothes keep needing clothes as their bodies grow. There are many village kids spending large parts of their childhood naked. Tender skins dried and rough from over exposure to the dust and dirt of their conditions. Kidding you not. But while that is an area of special attention, they do this service for all ages and genders.

Now think of your family's wardrobe. Are there clothes you simply haven't used in ages? Good clothes that don't fit you? Ahem... from the time you were over optimistic about your weight in the shop.. *cough*... or in this festival season, gifted clothes that are simply not you? Or clothes you don't use any more because they aren't all that great looking for your image conscious needs at work, but are perfectly wearable? Or simply if you are like me... you have many ignored clothes lying there for no specific reason, that you fold and put back each time you tidy up. Those are the ones they want. They will delight someone without many clothes.

Many times, when it comes to discarding clothes, I hesitate, because I see value in them, even if it isn't value to me right now ๐Ÿ˜€ I have heard this from other friends too. It is a great opportunity to KNOW that you are making a difference to someone's life through this sacrifice of a vague maybe value later. To know that even if you end up missing them later, you would still find it worthwhile to know that some person who didn't have clothes is now comfortable because of your gift.

Enough poetry. You get the point.

Ahambhumika wants you to send these clothes to them.

If you are a lazy bum, you can still help. Organizing all this takes money and resources. You can help with those. To quote from their appeal for help:

The ones who can't help Cloth Bank with clothes for the given age group can help us with monetary donations if they wish. The donation made can be according to your generosity which can be as little as Rs. 365 per year which amounts to Re. 1 a day.

Its the spirit of giving that matters and any amount, however little it may be, will add to the help we get and hence is welcome. The money donated will be utilised to empower our initiatives by finacing the infrastructure required to keep the work going like transportation , fuel, packing material etc. We will be equally obliged if you can help us by providing the aforesaid required materials directly, if not with the money needed to invest in them. Currently our prime requirement is a basic four-wheeler, in good working condition, to help us with the transportation issues.

Which means, if you have an old four wheeler lying around, that you are hanging on to, because it doesn't get the price you had imagined it would, it is a good opportunity to think of it as a donation of the cost you thought it was worth, rather than accepting some piddly amount, or paying for the parking indefinitely ๐Ÿ˜€

Helping out is always a good idea. You feel good.

Generosity is a symptom of power. The weak need to hoard, the powerful can afford to empower. Your actions make you who you are.

The above line is intended to make you feel more inclined to give, but it I also really mean it - like everything I say on this blog.