Flat Buyers, Don’t sign Sale-Cancellation-Deed of Jaycee Homes - JVPD Properties - Bhagtani Builders
24th August, 2017: Our
previous
article was about how the Allotment Letter issued by builders Dipesh and
Mukesh Bhagtani (JVPD Properties, Jaycee Homes, MD Devcon, etc.) is full of
cunningly drafted clauses for cheating people who book the flats. This present article is about why
buyers MUST NOT SIGN the Cancellation Deed even after informing Bhagtani
builders that they want their money back. Because the Cancellation Deed and all
related documents are cleverly worded to deprive the flat-purchaser of all
their evidences and their legal rights!
It is well known in the market
that all the Bhagtani realty projects are traps for unwary flat-purchasers /
investors. People who invested lakhs of rupees for booking flats in Bhagtani
Sapphire (Dahisar East), Bhagtani Serenity and Bhagtani Krishaang (Powai),
Bhagtani Riyo (Mira Road), Bhagtani Savannah (Kanjurmarg East) and Executive
(Ghatkopar West) are now trying to recover their money, with or without the 15%
interest promised to them. After hearing dozens of explanations and excuses from
the builder’s sales office, people have lost all hope that these real estate projects
will be completed.
In spite of this, the sales
office keeps issuing call letters asking many investors to pay the next
instalment; the allotment letter earlier issued clearly mentions that if the
investor does not pay the instalment on time, he will forfeit the booking
amount and/or be charged 21% penal interest! Naturally, to stop this extortion,
a flat-buyer who has lost faith in the project will inform the sales office
that he wants to cancel the flat booking, and wants all his money back with 15%
interest as promised.
The sales office then starts playing many mind-games and legal games with the flat buyer.
Game # 1: TOOTHLESS TIGER
When a flat-buyer says that he wants to cancel the deal, a
new drama begins: Bhagtani’s sales office tells him that his money will be refunded
only after he signs a cancellation deed. This may sound legitimate, but actually,
it isn’t! Because the cancellation deed is cleverly worded in such a way that
it lets the builder escape all his legal obligations, and converts the
aggrieved buyer into a toothless tiger! If you sign the cancellation deed, you
have to surrender all your original signed documents, including allotment letter
and receipts. Also, you have to pledge never to exercise any of your legal
options including going to any legal forum or approaching the media. Keep in mind
that you have to proclaim that the builder is now free to resell the flat that
you had booked. Also, you have to proclaim that you are cancelling your
flat-booking due to your own personal reasons (and not because of the builder’s
failure to complete the project and give possession of your flat). Please note,
you are required to do all this and give the builder a clean chit without the
builder repaying a single paisa of your booking amount!!!
In return, the builder’s sales
office will only give you a “receipt” that is to be signed by you, which
actually states that they will start repaying your money after a year or even
later. Please note, this document does not create any legal obligation on the
builder to actually pay you, because it is signed by you, not by the builder.
And in the end, even after
signing the cancellation deed, you will not get back your money! After waiting
for a couple of years, you will realize that you have been fooled, and now,
since you have returned the original documents and given the builder a clear
chit, you are officially a toothless, clawless tiger!
Please remember, nobody respects
a tiger without its teeth and claws. If a toothless tiger goes to the police or court or any other authority for help, he will
be told, “Did anybody hold your hand and force you to sign these papers? Did
anybody force you to sign at gunpoint? Are you illiterate or are you blind? Are
you a child? Why did you sign? Why did you voluntarily allow your teeth and
claws to be removed?” Courts cannot help someone who voluntarily
renounces his/her legal rights and remedies, and gives up his original
documents and receipts. If you say that you were forced to do so, the courts
will ask you how you were forced; and you will be compelled to admit that you
were just stupid and ignorant. (RERA may help, but you will have to make out your case properly.)
Be warned: Bhagtani’s office
staff specializes in exploiting your psychology and short-sightedness, and convincing
you to sign papers and perform various actions that will stop you from going to
any legal forum for enforcement of your rights.
CLICK HERE to
read a copy of cancellation deed for Bhagtani Riyo.
Game # 2: LAW OF LIMITATIONS
After the Cancellation Deed is
signed, the Bhagtani builders always delay for months and years in starting the
repayment. There is a method in this madness. The reason for this deliberate
delay in refunds is: the Law of Limitations. There are various limitation
periods for litigation against cheating, bounced cheques, civil suits for recovery
of dues, compelling the performance of contracts, etc. Every passing week and month that you fail to
litigate makes you weaker. If you land up in court three years later and plead that
the builder owes you a lot of money, the judge will ask, “Why didn’t you come within
the limitation period? Why did you delay so much? Your excuses are not
acceptable! Now we will not admit your suit, because the limitation period is
over!”
Game # 3: PSYCHOLOGICAL MANIPULATION
Aggrieved investors/flat-buyers
form associations and groups on Facebook, Whatsapp and other online and offline
forums. But are you sure that everybody in the group is genuine? It is easy for
builders to ensure that their own stooges (who may also have papers showing
that they have booked some flats) become prominent in such associations and
forums. Stooges may act out many roles, including becoming your personal
advisors, arranging meetings with the Bhagtanis or their “senior management” for
negotiations (which are basically delaying tactics), recommending a “good
lawyer” for you (who mislead, demotivate and delay you), sidelining the genuine
group leaders, sidetracking meaningful discussions, suppressing outspoken group
members, etc. Stooges may show that the builder has returned their money, and therefore,
their methods are effective. By talking about group unity, these stooges may encourage
herd mentality and persuade determined individuals not to approach appropriate forums
like RERA and National Consumer Redressal Forum. They may persuade you not to
approach the media, as it will amount to “defaming the builder”. Associations
and online groups are useful for sharing information, but please keep in mind
that they can be used for psychologically manipulating you, because the rewards for successfully misleading or delaying even
one flat-purchaser are huge!
ISSUED IN PUBLIC INTEREST BY
Krishnaraj Rao
9821588114
Krish.kkphoto@gmail.com
Need your view on one query....while development of SRA project, builder is not giving flat to each and everyone who were living in slum before development of SRA project. Builder says your room was "a-paatra" means not legal. How is that possible is one is living in that room since 1995 as rules of SRA. How manage such issues if you can throw some light.
ReplyDeleteBut how to recover money
ReplyDeleteApproach RERA.
Deletethey made false statements.........what about that...how to find them...help me out
Delete