Bombay Realty faces wrath of 100 flat owners
MUMBAI: Over 100 homebuyers at Bombay Realty’s luxury residential project in central Mumbai are taking on the realty arm of the Wadia Group alleging that the developer is trying to avoid transferring the land in society’s favour. The group forming over 60% of the residents at the project Bombay Springs says Bombay Realty is not allowing residents to operationalise the co-operative housing society, while it has formed a condominium with 9 residents out of the total 143 homebuyers here.
Bombay Realty , however, termed these residents as defaulters who have not paid maintenance charges to the company till the management and control of the building was handed over to Spring Condominium Association of Apartment Owners (Condominium).The company denied all allegations made by these residents, while adding that it has not done any act which is contrary to the law.
“By forming a condominium, they do not want to convey aliquot (concerned portion of) land to flat owners and rather lease the land to the apex body . Five out of these 9 signatories to the deeds of apartment (to form condominium) are board members of Bombay Dyeing & Manufacturing Co,” said Ketan Sheth, one of the residents of Bombay Springs which is part of Bombay Realty’s 30-acre under-construction Island City Center.
Over 100 homebuyers had consented for the formation of a society and the registration has been received from the registrar of cooperative housing socie ties, Sheth said.
The company spokesperson said the said group comprising of 11 flat owners had approached the high court by filing a suit in 2015, but so far no relief has been granted.
“The registration of the alleged society was finally directed to be heard afresh by the competent authority as directed by the minister.In fact, having failed to obtain any favourable order in the said suit andor in the proceedings, the said group has now approached media only with a view to tarnish the image and reputation of our company and to prejudice the high court,” the spokesperson said in an email response.
Condominium is the form of property ownership where a specified part of a piece of land usually of an apartment project is owned by in dividual homebuyers.
“We may further in form you that since all these allegations raised herein are sub-judi ce in the Bom bay High Court, it may not be advisable to comment on the same as it may amount to interference with the administration of justice,” the Bombay Realty response added.
According to residents, clause 29 of their agreement with the developer states first two levels of the building will have common amenities.However, the builder has constructed flats on one of these floors and sold the same denying the flat purchasers the promised facilities.
They also alleged that Bombay Realty has constructed a clubhouse and other amenities under FSI for the recreational purpose of the flat owners. However, the realty company has retained ownership of the clubhouse and common amenities for allowing outsiders at their discretion, which is illegal, residents said.