51 Homebuyers Take Legal Action Against Goregaon Developer After 11-Year Wait

Mumbai, June 10, 2024 – Frustrated by an 11-year wait, 51 homebuyers have taken legal action against the directors of Kiyana Ventures LLP Developers and their partners for allegedly cheating them out of Rs 17.68 crore in an under-construction project in Siddharth Nagar, Goregaon West.

Accused and Allegations

The accused include Parag Munot, Mofatraj Munot, and Anju Munot from Kiyana Ventures, their partner Ismail Kanga, project in-charge Devesh Bhat, project director Narendra Lodha, and signatory authority Omprakash Mehta.

The Complainant's Story

Ishwarlal Vanjara, a 61-year-old resident of Ashok Nagar, Kandivali East, booked a flat in the Goregaon project in April 2013, expecting possession by June 2017. Despite making the entire payment of ₹2.20 crore by 2018, Vanjara and other buyers are still waiting for their homes.

Unfulfilled Promises

By 2022, the developers had collected ₹17.68 crore from other buyers without delivering the promised flats. Vanjara and other affected buyers, including Chetan Dilip Negandhi, Jayesh Anand Chaudhary, Rakesh Shah, Jitendra Jain, and Vishal Bandhe, who collectively invested Rs 15.48 crore, decided to seek legal recourse.

Failed Assurance

In September 2022, the buyers met the developers, who promised to complete the construction within six months. However, even after a year, the promise remains unfulfilled, keeping the buyers waiting for over a decade.

Legal Proceedings

A case has been registered against the Munots, Kanga, Bhat, Lodha, and Mehta under sections 409 (breach of trust), 420 (cheating and dishonestly), 34 (common intention) of the Indian Penal Code, and relevant sections of the Maharashtra Depositors Act at the Goregaon police station.

Developer’s Response

Kiyana Estate LLP responded, stating, “We have not received any official intimation so far and are hence not in position to comment on its contents. However, we would like to inform that our project at Goregaon has received the OC for the entire project. We have already handed around 300 homes to our esteemed customers and are in process of handing over the balance."

The firm confirmed that approximately 300 houses have been handed over, with over 60 owners already moved in. The total number of houses in the project exceeds 500.

Conclusion

As the legal proceedings unfold, the affected homebuyers await justice and the fulfillment of their long-overdue promises. This case underscores the importance of accountability and transparency in real estate transactions, highlighting the challenges faced by buyers in securing their investments.