I had booked a flat no.-302 in M/s Green Home’s project, Rainbow Residency during its launch in June-2008, by paying an initial amount of Rs .2,70,900/-( Rupees Two lakhs seventy thousand and nine hundred only. No sale agreement or documents were ever executed by the company. Due to unforeseen circumstances, I cancelled my booking in December-2008 and requested the refund of my amount. The company assured to refund my amount by April-2009, failed to do so, and thereafter, shifting dates were given. Several emails and phone calls were made by me, but to no avail. I have original receipts of payment, which the company wanted me to return against post-dated, part payment cheques. I offered to exchange the receipts against confirmed refund by pay order or banker’s cheque, but the company never went ahead with refund. Vexed, I started legal proceedings against them in the consumer disputes redressal forum ( RR district forum at L.B.Nagar, consumer case no.-148) in September 2009,for refund of my amount with interest, costs and compensation.
In the meantime, I gathered that the said project, Rainbow Residency, never took off, had fallen through and been shelved. I have never been informed by the company on this matter. Instead of informing clients about the fate of the project and refunding the funds collected for the same on its own, the company went through my case, standing on empty ground.
More than a year after filing the case, the consumer court gave its judgement on 07/10/2010, directing M/s Green Home to refund my principal amount only, within one month. One and a half months have passed since, without any sign of compliance of the order.
The company has been consistently participating in property fairs and advertising, launched new projects in Hyderabad, Chennai and Bengaluru, but defiantly cocks a snook at all ethics, business norms and any judgement be damned. Its a remorseless, shameless, customer-unfriendly, devil-may-care behaviour, with a ‘’go, do your worst’’ attitude.
My funds lie with them for about two and a half years now, without any reason or project, the interest proceeds of which have been denied to me, the tension is immense, and I’m being made to run from pillar to post, whereas the company makes every effort to stretch the case to derive maximum selfish benefits on usurped money.
Investors in real estate are well advised to ask for and cross-check the litigation history of the company before parting with their honest money and getting trapped. I still await my refund.