I and my entire family were involved in researching for the budget house in Mumbai which you all know can be tricky. We were planning to buy a house from 2011 and were not able to come to a common decision. However, in April 2013, we liked the 1 BHK flat in Karrm Residency Shahapur. It offered great amenities and the price was also reasonable.
At first it was unbelievable. But the managers at the site convinced us of the prospects and the future investment gains. They promised that they would be giving us the possession before December 2014. We believed them and paid more than 90% of the flat amount with interest added.
We took loan to pay the builder and our EMI started. We were convinced that after December 2014, we will shift and would get a bit of relief from EMI and rent together. However, our plans were put on flame and we were informed that the possession will not be possible before December 2015.
They said that they have got the grace period to complete their construction and we cannot point out their mistake. We kept on visiting the site and never saw people working there.
We felt that they have stopped their construction work at Karrm Infrastructure and confronted them. But, they kept giving us imaginary dates. Their reasons for delay were unrealistic and never convinced us to believe them. But, we have our money at stake and we need to take the right decision.
We also tried to cancel our booking with them. To that they completely disagreed to pay the bank interests. They said that we will lose our bank interest. Meanwhile, we kept arguing about the site completion which they are also not sure now.
Maybe they are done giving us phoney dates. They are frauds and should be behind bars. There has been news about IT raids and many such negative feedback on the websites. I do not know what to believe and what not to.
What I know is that, till now there is no development in their construction work till date and I am scared about losing my money and flat.
They are not able to make booking for the remaining flats after they got into controversies. They had to change their name from Ekkta Group to Karrm Infrastructure as it conflicts with the name of a reputed builder, Ekta Group. It has been in news that they were charged under defaming the group name and that is why court ordered them to change their name.
We are still in dilemma as there is no progress till date. After lot of requests and pressure, they have agreed to refund the entire amount with interest after possession. This also seem sarcastic as there is no sign of construction. So, how can the question of possession be considered as per the present scenario.
I would advise everyone out there not to invest in Karrm Infrastructure.