- This topic has 8 replies, 6 voices, and was last updated 1 year, 2 months ago by
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UHi everyone,
I’m seeking advice and support regarding a frustrating situation with a property investment in India. We were promised a completion deadline of July 2026, but it’s clear that this deadline is unattainable as the developers have yet to obtain the necessary Occupancy Certificate (OC) from the government.
To date, we’ve invested ₹50 lakh in this project. Despite this significant financial commitment, we’ve received no concrete assurances or timelines for the project’s completion. Instead, we’re met with continuous delays and unfulfilled promises.This morning, the developers spoke to a my family member and mentioned an outstanding payment, implying that we would be charged extra for not making the payment. We’ve consistently communicated our readiness to make the payment, provided they produce the correct legal documents required for construction from the BMC. They mentioned that they will deduct 20% of what we have payed if we plan to back off.
Furthermore, after expressing our intention to withdraw from the project due to these delays, another consultant responded with yet another unsubstantiated promise that the project would commence in January 2024. We are now in February 2025, and the project remains stalled with no substantial progress or credible explanations.
The lack of responsiveness and accountability on their part is unacceptable. We’ve had to make numerous follow-up calls, often without any response, only to be met with false assurances.
Has anyone else experienced similar issues with property investments? What steps did you take to resolve them? Any advice on how to proceed legally would be greatly appreciated. Also we are looking for people who have invested in Ruparel.
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HCould you please provide the completion date mentioned in your registered agreement? If it is July 2026, there is still a significant amount of time remaining. The Occupancy Certificate (OC) is the final document obtained by the developer, after which they handover physical possession of the flat.
At what stage is the construction currently at? Your payment will be made in milestones. Please review your agreement for specific payment milestones and determine if any amount is due to them. If the amount is payable and you delay payment, you will have to pay penalty. Conversely, if the developer delays providing possession after the promised date, then they will be required to compensate you. Regarding cancellation, please refer to the terms and conditions of your agreement for specific details.
Additionally, I recommend maintaining written communication with the developer to ensure that any assurances they provide are documented. This will help you in future legal proceedings.
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UHi this is the same with our family too. Paid a huge sum and OC delays since 2 years after they promised OC clearance.
The project has not been constructed but all upfront payments they requested are made. For cancellation, no option is given.
We also cannot understand how to get out of this situation, or at least get an honest answer on if the OC is expected to come or not.
The team has said this OC is required to construct the project too.
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