Why are DB’s Luxury Projects Meeting Targets, While Affordable Projects Miss Deadlines?
More than 3,000 home buyers in Mumbai who had invested in DB Realty’s DB Ozone Project in Dahisar have been left high and dry. The project was started 8 years ago, but is nowhere near completion. Frustrated buyers have now taken matters into their own hand, launching a massive social media campaign against the company to demand justice.
Delays Dog DB Realty’s Ozone Project
DB Realty launched their DB Ozone project in Dahisar. As one of Mumbai’s larger real estate developers, home buyer interest soared and most of the project was quickly sold off. Most buyers have paid up almost 90% of the total cost of their apartments. DB realty promised to complete the project by 2014 and today, nearly 2 years later, the project stands unfinished.
DB Ozone’s customers are also furious that construction on other projects like DB Crown and DB Orchid is going on at full speed, with prospective home buyers being offered chopper rides to oversee the progress of their flats. With no explanation coming forth from the company, the DB Ozone buyers took to social media to register their protest. An E-Dharna was organized on twitter with buyers mobilizing to tweet about the DB Group’s delays. The E-Dharna received nearly 6000 tweets within an hour and was trending on Twitter.
#DBRealty #DBOzone #Fight4Possession https://t.co/p885Fd3GFM
— DBRealtyBuyers (@DBRealtyBuyers) April 28, 2016
@dbrealtybuyers #dbrealty #dbozone #fight4possession Possession is what v need from DB Realty Ozone project,8yrs,no visibility yet
— Haresh Senjaliya (@HareshSenjaliya) April 28, 2016
#DBRealty here v stand together for this #eDharna for our delayed possessions #DBOzone #Fight4Possession
— DBRealtyBuyers (@DBRealtyBuyers) April 28, 2016
DB Ozone: Is There A Way Out?
When NDTV tried to contact DB Realty for this story they refused to give an interview, but sent us an email statement stating that “The project is progressing well. We have nearly completed the rental housing component. Finishing of some of the sale buildings has also started. The unfortunate delays are beyond our control and we expect to commence the handover of apartments soon’’. The company refused to give any specific deadline on when the handover would begin nor would they specify what factors were beyond their control.
Legal experts are now urging these home buyers to do a lot more than just campaign on social media. They are asking buyers to file cases in civil court, criminal court or consumer forums against the builder. Buyers can demand compensation proportionate to the market value of the flat and claim reimbursement for the rent paid by them for the time the project was delayed.
But these methods are time consuming and buyers will also have to shell out considerable amounts of money to hire legal experts to try the case. Now, many of them are counting on the Real Estate Regulator to help get their homes and end their long wait.
Reporter: Ashwini Priolker, NDTV
Web Editor: Nikhil Narayan Sivadas, NDTV