Thane: Karrm buyers were lured by copter rides, lavish lunch

The developers of Karrm projects in Thane districts Shahapur lured working-class clients through their offer of affordable homes, andfree helicopter rides and lavish breakfast and lunch before sealing the deal. The marketing strategy helped them attract close to 11,500 buyers. Years later, the promised dream home is nowhere to be seen, but they are continuing to pay EMIs towards loans. mid-day reported about the alleged scam in the project, sanctioned with forged papers, on August 21. The whistleblower, Prabhuram Giri, 60, said the developer would also arrange a four-wheeler pickup and drop facility for prospective home buyers from Mumbai, the Mumbai Metropolitan Region (MMR) and Pune. The free breakfast and lunch was arranged at the project site of Karrm Panchtatva, at Kasgaon in Shahapur, Thane district. Except the plinth at one phase, barren land can be seen in phase 2 and phase 3 sites here. I am in the process of extracting information on how a helipad was allowed to be constructed here and how the authorities granted permission to fly a private helicopter, which was nothing less than a safety risk to passengers. There was no form of authorised security at the site, barring some bouncers, Giri said. ‘A scary experience We, a family of three, received a phone call one day. We were told that our names had been shortlisted for a helicopter ride at one of their project sites in Shahapur. We booked a shop and a flat in the upcoming Karrm Panchtatva phases 2 and 3 in 2016, said Ramashish Choupal, who lives in a slum near Banganga, Malabar Hill. An undated photo of a helicopter used for rides by the developer. Pics/Prabhuram Giri Recalling the day of the helicopter ride, At the venue, the bouncers took down our name, age and weight. We then boarded a 14-seater helicopter with 8-10 other visitors. When asked about safety instructions, he said, We were not given any safety tips or briefing. The helicopter, with pilots in command, soon took off and we were frightened. It was about a 5-10 minutes of ride and we hovered over Shahapur. I could only see mountains. Choupal, who works as a private driver and earns Rs 18,000 a month, said he never thought the developer would dupe us...even educated people had invested their money in the project. This was supposed to be our first investment after working for over three decades in Mumbai. Choupal said he has already paid Rs 4.15 lakh towards the shop and the flat, and the remaining Rs 6.85 lakh (approximately) was to be paid after getting the possession, which he has not. Paying EMI, but no home Vajahat Ali Sayyed, 37, who lives in a rented house in Airoli, Navi Mumbai, had booked a 1RK at Karrm Panchtatva in 2015 after seeing an advertisement. Two years later, on the day of registration of the house, along with hundreds of other buyers, we were taken to the helipad, close to the project site, for a helicopter ride of five minutes around Sahapur, recalled Vajahat, a collection agent. He also denied receiving any safety instructions before the ride. Vajahat Ali Sayyed Vajahat, the sole breadwinner, said he still has to be EMIs for a house that is nowhere close to even construction. Jignesh Doshi, 51, a resident of Malad, has also been paying a monthly EMI of Rs 7,500 towards a loan of Rs 6 lakh for his flat in Pukar building at Karrm Residency project in Shahapur. Doshi, a freelance tour operator, said, We borrowed money in my wifes name from a private financial institution, which is charging us 13 per cent to 14 per cent towards interest. They have threatened to take us to court if we stop paying the EMIs. Expert Speak Subhash Kamath, former CEO, BBH & Publicis India and former Chairman, Advertising Standards Council of India (ASCI), said the marketing strategy adopted by the developer in the form of free lunch and helicopter rides is not an issue. If the developer has failed to deliver his promises and has duped thousands of flat buyers, it is needless to say that the regulatory authorities and legal process need to be put into motion, he added. It will be very difficult to say if a particular advertisement is ‘misleading, especially by a real estate developer giving freebies or making special arrangements to lure his prospective customers as part of their promotional campaign/activity, as the actual construction and completion work of the project would take anywhere between three to four years from the date of advertisement, said Kamath. Kamath, however, has a word of caution for everyone investing their hard-earned money in under-construction projectsget all your documents, including regulatory permissions, vetted by a lawyer. Besides, the government and the competent authorities need to be extra vigilant towards mass housing projects under the ambit of affordable homes, he added.

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Thane: Karrm buyers were lured by copter rides, lavish lunch

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