Dear All,
I would like to connect with fellow property owners in Raheja atlantis project who are suffering with the delay in posession of this project. Posession is over 2 years delayed, and still there is no end in sight.
Cost of funding has gone up tremendously since 2004-5 when we purchased this apartment. we have paid up 95% of the purchase price long time back. Even if builder agrees to pay Rs. 5 psf per month penalty then that would amount to only 2.8% annual interest on the capital deployed. In essence Mr. Raheja has enjoyed this loan from us at a meagre 2.8% while we are paying 12% interest on loan.
Organisations like DLF have realized this and have increase penalty to Rs. 10/sqft. We should demand the same from Mr. Raheja, and also get a firm date about the handing over of our towers. Currently it seems that there is almost no work going on in the towers.
Lets connect and take this forward.
Shaleen Garg
9767897983
