Friday, October 6, 2017

DSK F D Holders v/s DSK Flat Buyers - Who will win?

How can flat buyers in DSK projects protect their investments:

Visit DSK Nandanvan, DSK Mayurban, DSK Chaitraban, DSK Pushpaban at Aditya Nisarg, Pirangut, Taluka Mulshi, District Pune

At any moment, DSK would be no more a business entity.

Fixed Deposit Holders are hell bent on prosecuting DSK under MPID.

For the last couple of months F D Holders are putting pressure on Pune Police to take action against DSK under MPID.

After the latest order of Maharashtra Government, Pune Police have no option but to take action against DSK under MPID.

As per MPID, DSK's bank accounts and assets will be attached.

Till MPID case ends, all stalled housing projects of DSK will remain stand still.

It means that no one can say what will happen to the flat buyers in DSK projects - DSK Anandghan & DSK Nabhangan at DSK Vishwa, DSK Sadaphuli at Warale Talegaon, DSK Nandanvan - Mayurban - Chaitraban - Pushpaban at Pirangut, DSK Vedant at Sade Satara Nali Hadapsar and DSK Madhukosh at Andheri, Mumbai, etc.

If F D Holders had given some more time to DSK - DSK would have completed our projects. Some might say.

How can F D Holders rob our homes? Some might feel.

It's not DSK v/s Flat Buyers - anymore.

Now, it's F D Holders v/s Flat Buyers. Some might think.

What can the flat buyers do? One asked me.

First, stop misleading yourself. It's not F D Holders v/s Flat Buyers.

Then - read my blog - Breaking News! Flat owners takeover DSK Anandghan!! - I said.

I have read it! Unite - Approach RERA - Complete the project on your own. Any other option? He asked.

Yes! There are a few more options!! Read Maharashtra Protection of Interest of Depositors - MPID - Act!!! I said.

What say you?

What can DSK flat buyers do?

Please, share your views in the comments.

Maharashtra Government's Paripatrak about "Effective Implementation of MPID Act:

Maharashtra Protection of Interest of Depositors (MPID) Act.

MPID Act 1999 in Marathi - Android App on Google Play

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  1. DSK flat buyers can certainly take over the project & complete it as per norms in RERA. But the issue is how the money for completion will be raised ? Post RERA, builders have to keep 70% amount collected from buyers in escrow account but cases like DSK, KUL, Marvel etc. is altogether different where money was collected before RERA & most of which has already been blown away by builder.

    If there are flat buyers who have paid 85-90% of the amount but flat/project is barely 50% completed, from where will they bring additional amount for completion ? It is normal case here as builders demand far more money than what the actual construction has taken place, demanding atleast 20% of agreement value at the time of registration when not even a single brick has been laid is example of this.

    Frankly, the options for flat buyers for recovery of their money is better & easier than completing the project by themselves, especially if lot of money has already been paid to builder. And if project is like DSK Dream City, building only your building is not gonna help as entire infrastructure right from scratch needs to be built to support human habitable environment in that building. Now who will build infra like laying of water pipes, sewage pipes, power cables, DG back-up, roads etc inside private townships ? If builder decides to sell off the land parcel to raise money & if new owner raises objections, then road, cables, pipes etc. can't be taken from that plot either.

    The only solution is to avoid all the fancy ads given by builders & prefer to buy ready to move or RTM flats. Buying under-construction flat in today's time is throwing the money down the drain.

  2. Monk by just making some law we cant solve the problems, same way RERA wont be helping but there has to be fear in minds of builders that he will go behind for for life time for playing with lives of common flat buyers! As to take control of any project isnt that easy thing, here people doesnt come forward even to form society & we are talking about facing a legal war as well taking on a herculian task of completing a half left project, which is not easy for even a professional person in the field! The only way is enforcing law with such ruthlessness that such situation wont arise!