I am writing this email on behalf of all the ND Laurel, Gunjur, Varthur, Bangalore buyers’ community to bring a serious concern against the builder. This project ND Laurel is from the Bangalore based builder named ND Developers (https://www.nddevelopers.com). This project is mere a 104 flats project & has been going on for last 3 years but still we have not received the possession till date. 80% of the payment has been released to this builder and even today the construction pace is so slow that it will take forever to get the possession. As per the agreement possession date and grace period is already crossed for ALL of the buyers.
Dec 2012 was the possession date for some buyers, some has June 2013, Sep 2013 and most of them have Dec 2013. It has been extended by the builder to Feb 2014 then Aug 2014 and now Dec 2014 but we still feel that it is not going to met because construction pace is very slow. The MD Nayeem Durani is acting like the Prime Minister of India because he doesnt have time to address the buyers. He is not taking any ownership to deliver. We have lost the hope against this cheater builder and want to go legal against him and making him nude in the public by bringing out reality.
I am paying huge EMIs along with rent which is taking a toll on me. The penalty clause in the agreement is mere Rs. 4000/6000(bigger size). Hence I am looking to go legal against this builder. Please provide the options so that I can get the heavy penalty from this builder for the delay he is making and get possession at the earliest.
