Homebuyers in Sheth Auris Ilaria Tower A, Malad (MahaRERA Reg. No. P51800028533), are facing a severe crisis. The project has been placed in “abeyance” by MahaRERA due to the developer’s non-compliance.
Buyers were assured possession by Dec 2024, but that date has lapsed. The developer is now informally citing 2027, with no written communication.
As told to Realty+, many of the buyers had bought under a subvention scheme, where the developer was to bear EMIs until possession. However, EMIs are now being deducted from their accounts, forcing some families into negative balances and affecting day-to-day living.
“To add to the distress, we continue to face harassing calls from banks despite the default lying with the developer. We have already written to the developer, banks, and MahaRERA, but the situation remains unresolved. Collectively, we are prepared to escalate legally and publicly,” say the residents.
A similar story has come forth in case of Godrej Properties, where residents of Godrej Properties Green Park & Forest Grove sent appeal letter to authorities & government over delayed possession and undue extensions by MahaRERA.
“This is nothing but a mockery of the system and a betrayal of middle-class citizens. We voted for Achhe Din. Instead, what we have received is injustice. Our hard-earned salaries are drained away in EMIs to builders and heavy taxes to the government, yet we are denied our fundamental right — possession of the homes we paid for.
For the last 5 years, homebuyers of Godrej Properties Green Park and Forest Grove, Mamurdi have been struggling. We have paid 85% of the flat cost through bank loans and continue to shoulder financial burdens, but possession is nowhere in sight. Instead, builders are being rewarded with repeated extensions through MahaRERA, while citizens are crushed under debt. RERA No. P52100023129”
The aggrieved residents demand - Immediate intervention to stop such arbitrary RERA extensions, Strict action against Godrej Properties for delaying projects, and a clear roadmap to ensure homebuyers receive their rightful flats by September 2025.
This is not just our story, but a growing trend in Mumbai real estate where buyers are left paying EMIs without possession due to stalled projects and regulatory gaps.
