Ten years on, 300 buyers of MVL IndiHomes still awaiting flats
More than 300 homebuyers of the project have alleged that the builder, MVL Limited, stopped all construction work at the project site over four years ago, despite having collected the full payment from most buyers.
The date of completion of the project, which was launched by MVL in 2009 with the promise of possession by 2012, was revised to 2014 and then 2015. But till now, investors said, construction has not been completed.
“We paid around 95% of the cost by 2013 under a construction-linked plan, yet we are still waiting for our flats, long after the promised date of possession passed,” a buyer said. At present, the project is around 75% complete.