‘Paying rent and EMI… it’s double the pain’: Mahagun homebuyers in Ghaziabad protest delayed flats

On Saturday, he and 50 homebuyers protested against the delay outside the builder’s office in Noida’s Sector 63. The builder’s office did not respond to calls or emails seeking comment from The Indian Express.

The couple and their children now live 2-3 km away, in Gaur City, paying Rs 20,000 rent. “It hurts to wake up every day and see our home from a distance… We had invested our hard-earned money since the project promised safety and security… we paid 50% of the amount, but now it feels like it’s gone down the drain,” says Mohit.

“I’m paying rent for this flat and for a structure that isn’t even complete… it’s double the pain,” he says, adding that he has knocked on the doors of the government, police and lawyers to no avail.

Mohit says every time they reached out to the builder, they made excuses. “Sometimes, they would say the NGT issued orders to stop construction because of pollution or that they’re expecting funding from investors…”

According to Paras Gaba (31), another homebuyer and president of the Montagge Unity Association, the project started in 2016, with a promise to be delivered by 2021.

He booked his flat in 2021. “The builder has now started demanding that we first complete the full payments, saying construction will be done then. If we don’t pay, they said they’ll cancel the flat,” alleged Paras.

He said they have filed a complaint with the Real Estate Regulatory Authority (RERA). “We are going to file a complaint with the Economic Offences Wing as well… Out of a total of 930 plus flats, around 800 buyers are suffering,” he added.

On April 18, the Montagge Unity Association wrote to the Uttar Pradesh RERA stating their concerns. “This project has obtained four extensions from UP RERA and registration end date has been extended to June 2028… which is six years [beyond] the original registration end date… Buyers… are suffering [paying] rent and EMI…,” the letter stated.

It also requested a financial audit on the escrow account of the project to ensure possession is delivered on or before the latest extended deadline of June 30, 2028.

Most buyers are in the age group of 30-45 years, who have shifted to Ghaziabad from nearby smaller cities.

For Deepak Sadhwani (47) the stakes are high, but more so for his sister who is a single parent.

“My sister… had a limited amount of money… We had invested 90% of it and bought two flats so we could be neighbours… and depend on each other for support. We bought flats in the Fortune tower because it was just a year away from completion,” says Sadhwani.

“My sister”, he says, “tells me it’s not my fault”. “She saw this as a ray of hope — that she could earn from the rental amount. Thankfully, she found a job that pays her decently,” he says.

Mridul Mishra (32) says purchasing a flat in the Fortune tower in 2022 was the first investment he made after he got a job. “Unfortunately, now I’m paying rent and EMI… I’m worried about how I’ll pay the remaining installments.”

He claims the builder had promised that if he did not get possession by December 2023, he would be given a monthly penalty amount. “It never materialised.. Only 40% of the work is completed so far. Meanwhile, my rent has almost risen by three times. We have complained to the GDA and RERA but nothing has happened,” he claims.

Anand Singh Rathore (38), who hails from Orai, in UP’s Jalaun district, says his dream house was booked pre-Covid. “… My possession date was almost six years ago in September 2020. I had booked pre-Covid as the builder had a very good name…,” he says, adding that only two installments are pending.

He says he took a flat on rent in Wave City. “I stayed here and secured school admissions for both of my children… But our expenses have been increasing…”