The Brave Pedestrian

Mumbai, 28th June, 2018: Two months ago, MahaRERA passed an order favouring flat-buyers of Bhagtani Executive, now known as Ashok Odyssey, Ghatkopar . The order by Gautam Chatterjee said, "...parties are directed to execute the agreement for sale... within 45 days from the date of this Order. While executing the agreement for sale, Respondent should adjust the amounts paid by the Complainant to its net present value taking into account the time value of money paid by the Complainant in the year 2015."  Click here to read the RERA Order dated 26th April, 2018 .  This order is strictly applicable to only the complainant, namely Christina Contractor. However, this order is a huge step for all those flat-buyers who paid lakhs of rupees to Bhagtani builders for booking a flat in Executive, only to find that it was later renamed as Ashok Odyssey and taken over by Sanyam Realtors. Sanyam Realtors are basically Bhagtani's former partners "RJ Group".  The tran...

Below is the rebuttal of Sanyam Realtors to this article .  From: Akshay Jain <akshay.jain@rjgroup.in> Date: Thu, Jun 28, 2018 at 3:07 PM Subject: Re: Attn Mr Akshay & Rakesh Jain: Your rebuttal is solicited to attached article To: Krishnaraj Rao <krish.kkphoto@gmail.com> Cc: RJ Group Info <info@rjgroup.in>, Rakesh Jain <group_rj@hotmail.com> Dear Mr. Krishnaraj Rao, We have gone through your draft article in your email dated 26th June 2018, which basically comprises of first two paragraphs of background and information about the ‘self explanatory’ order dated 26th April 2018; followed by 3 pointers of your own interpretation of the order and its discussed significance according to you; followed by two paragraphs of words and jargons to sensationalize and popularize your blog. Accordingly, on your assurance of appending our response in verbatim, we state as under: Reg. first two paragraphs:- Time and again you refer us as partner of Bha...

Mumbai, 17th April 2018: Many significant developments are happening in the case of Bhagtani Horizon in Goregaon, which shows that (1) Mukesh and Lakshman Bhagtani are continuing to play an active role through RERA and courts although they are absconding from Indian law-enforcement agencies and courts (2) they are organizing their allottees through WhatsApp groups (3) they are registering Agreements of Sale where it suits them, and (4) RERA recently passed an order upholding the right of Bhagtani allottees to enter into registered agreements , and directing Bhagtani to do so. Bhagtani Horizon's 8-storey frame. Construction stopped in June 2016. These developments should be studied by other Bhagtani projects, especially the RERA-registered ones like Serenity and Krishaang, as they have implications for them also.   NOTE: There are discrepancies between what the RERA website shows and what the ground realities are. The RERA website shows only 27 flats, whereas Ja...