General people concern due to developer irresponsibility; also having a big impact on CIBIL score
Pune/Bengaluru, 2: In today’s time it is very difficult to find an honest builder and by luck if you get a manipulator builder, then the whole destiny should be left in the God’s hand. In mid-June 2021, five aggrieved citizens living in Pune contacted the ‘Aapli Sambat’ team of Maharashtra Based news portal Maharashtra Varta and informed them about the frauds committed by the developer (Ozone Group) in Bangalore, and asked for help. In 2015, Anish Dharmadhikari, Girish Sonar, Chhaya Yardi, Suhas Mulay and Santhan John D’Souza, resident of Pune, had booked 5 houses of worth about 60 lakhs on payment of 10% as down payment, in a residential project named ‘Ozone Urbana’ in Devanahalli, Bangalore, Karnataka. Dr. S. Vasudevan’s Ozone Group is based of Bangalore, Karnataka state. At this time, the developer (Ozone Group/Dr. S. Vasudevan) had promised in writing to give possession of the flats by 26 Months/2018. During this period, the developer received a loan from India Bulls Housing Finance Limited in the name of these five individuals for the remaining 90% of the amount under the subvention scheme and all the money was transferred to his account within a short span of time. In just three steps of 10:80:10%. Meanwhile, the developer was paying the pre-EMI of all these aggrieved. However, the developer did not fulfill its promise of giving possession of the houses by 2018. Eventually, all the five requested the Ozone Group to cancel their bookings through emails and letters. The developer was then ensured to reimburse the full amount with interest to these five customers. But that did not happen.
In the meantime, these aggrieved people repeatedly approached the developer to transfer the loan in their name and get their 10% amount back with compensation. However, the Ozone Group began to send superficial replies only. Just like that 2 years passed. The global pandemic was at its peak in the year 2020 and meanwhile the Ozone Group stopped paying the monthly pre-EMI of India Bulls Housing Finance Limited and that’s where all the mess-up start spreading!
After weeks of exhaustion, all these five troubled customers started getting calls, emails and letters from the bank for recovery. There was also the possibility of legal action, if the loan was not repaid. During the period when developer shrugged their hands, these five eventually sought help directly from Maharashtra Varta’s Aapki Samasya team. They then also sought technical and legal help from Time & Tide, a third-party Consultant Company, and approached this Bangalore-based developer. Finally, they gradually paid 10% of the money invested in the flats by Girish Sonar, Chhaya Yardi, Suhas Mule and Santan John D’Souza. Even when Ozone Group’s initial issued cheques were also bounced. But at the end they accepted their fault. However, they had paid only half of Anish Dharmadhikari’s money so far, today he is tired due to health problems arising in the family & despite of repeated requests to the developer the money is not being paid. There is no compensation have been given yet and Ozone Group has not uttered a single word in this regard. At the same time, the sword of India Bulls Housing Finance dues hanging on their heads, and does not let them sleep peacefully.
Aapki Samsya team of Maharashtra Varta, tried to contact directly with Chief Promoter of Ozone Group, Vasudevan (Dr. S. Vasudevan) and Ozone CEO Bhaskaran (Baaskaran) but they are not showing up. The only response got from Ridhika and Divya Iyer of Ozone Group is that we are trying to clear the entire money and settle the loan issue of these customers. But nothing seems to be happening till now. they had recently reneged on their promise to clear the dues of Anish Dharmadhikari in the first week of January 2022, and given a new date of March 2022. After exploring more into the Bangalore-based Ozone Group, it was discovered that hundreds of consumer-investors in southern states, including Maharashtra, neither get the possession of their homes or the money refunded. Apart from this, they are not talking about helping customers to get rid of the due (ghost of loans) from the financing banks like India Bulls Housing Finance Limited, HDFC Bank. Last month, in December 2021, 17 customers came together and filed a police complaint against the Ozone Group (Dr. S. Vasudevan) and its management. The main complainant Mohit Sharma had booked a house worth one crore rupees in this residential project Ozone Urbana, and now he is bearing loses for the mistakes done of this builder. He too has paid around Rs 20 lakh so far as pre-EMI and still not get the possession of house like other 16 distressed customers.
Many people across the country have invested their entire life savings in this project of 5000 houses, including a large number of retired senior citizens. Apart from this, due to IBHFL-Ozone Group’s Pre-EMI scheme everyone’s CIBIL score has been affected badly. At present no financial institution is ready to give them loan. In such a situation, they are worried about what will happen to them in the future. Many buildings of Ozone Urbana have not yet received the Occupancy Certificate, with effect of this residents are facing problem in availing essential services like electricity and water. Bengaluru-based senior journalist S. Lalita has recently shed light on this topic by her news. Basis on this ground, the question arises that inspite of the state-to-state RERA Authority, people are often cheated by developers like Dr. S. Vasudevan /Ozone Group. If all this is to go on like this, then what is the need of RERA authority? Now the time has come when central and state governments should seriously consider this.
The main reason why consumers fall into this vicious circle is the greed to make big profits with small investment!
The main reason why consumers fall into this vicious circle is the greed to make big profits with little investment! People invest their hard-earned money in such projects without any research or enquiry, falling under the guise of real estate brokers and sales representatives of builders. The builders are adept at making the most of luxurious offices and spacious sample flats for advertising. In addition, Google, Facebook, Twitter, Instagram and big/small newspapers continue to influence consumers with advertisements. Since agents get high commissions, there is no question of transparency and they never warn the client about future hassles on their part. Later on, when the possession of house gets unnecessary delay for which you have invested huge money on the housing project, stars start appearing in the day. In the meantime Developer sings song like “Kasme Vaade Pyaar Wafa Sab Baate Hai Baton Ka Kya?” and keeps these distressed customers on hanging bridge by chanting today and tomorrow. Then finally they have to appeal to RERA Authority, Police Administration etc. for justice. Since the developers are from a smart community, they ‘manage’ the issues in such cases by increasing the length of time, and play further ‘games’.
Usually, due to lack of knowledge of the law, in the end these despondent common consumers often waste their lifetime earnings. However unknowingly, in such cases, the competent authority can give justice to such projects by transferring them to another developer. Mumbai’s SRA and MHADA administrations have already completed several dilapidated private projects through competent developers. If the government pays timely attention, then it’s not difficult to get justice in such cases, it just requires sincere efforts and follow-up action.
If you have any complaints regarding unauthorized construction, fraud from developers, government work delays and financial scams, you can inform Maharashtra Varta dot com’s ‘Aapli Samasya’ team on WhatsApp at 88503 03463 and by email at news@maharashtravarta.com
Have a look on Maharashtra Varta’s Special Task stories
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