I purchased a villa from Arattukulam/Aratt Builder in Bangalore (Property Name Aratt Amora) in Feb 2014. As per details mentioned in sale agreement and duly signed by Aratt auhority, it was committed that pre posession EMIs (interest) amount will be paid by builder till possession is given to the customer.
Its been now more than 2.5 years, builder has not given the possession (which was committed in a year’s time) and neither he is paying EMIs as committed in agreement. Property is still not ready, no road is ready in ront of property and no water supply or electricity connection is there. When I chased them to pay the amount as committed, builder team says that they dont have money/budegt and hence not paying the EMIs or deploying workers at the site to finish off the remaining work. Every month I am facing a lose of Rs. 35000 and builder is spending money in his new projects. Aratt is a 10000 Crs firm and they dont have budget to pay customer emis or deploy workers at site to finish off the work. Stupid lame excuses they give to all customers who purchased villas from Aratt builder. Please look into the matter on priority basis and Assist me out. I shall be highly obliged.
Bangalore 560114, Karnataka