Ghaziabad Homebuyers Protest Mahagun Group Over Delayed Flat Possession
Homebuyers of the Mahagun Montagge residential project in Ghaziabad, India, have staged protests against significant delays in flat possession. Originally scheduled for completion in 2021, the project’s deadline has been extended four times by the Uttar Pradesh Real Estate Regulatory Authority (RERA), with the new target set for June 2028. Affected buyers, many of whom are paying both rent and home loan EMIs simultaneously, describe the situation as causing severe financial and emotional distress. The Montagge Unity Association, representing approximately 800 suffering buyers out of 930 total units, alleges that the builder demands full payment before completing construction and threatens cancellation if payments are withheld. Buyers have filed complaints with RERA and plan to approach the Economic Offences Wing, requesting a financial audit of the project’s escrow account. Despite repeated attempts to engage with the builder, residents report receiving excuses regarding pollution bans or funding issues. The protest highlights ongoing challenges in the Indian real estate sector regarding developer accountability and buyer protection.
Wire timeline
Ghaziabad Homebuyers Protest Mahagun Group Over Delayed Flat Possession
Homebuyers of the Mahagun Montagge residential project in Ghaziabad, India, have staged protests against significant delays in flat possession. Originally scheduled for completion in 2021, the project’s deadline has been extended four times by the Uttar Pradesh Real Estate Regulatory Authority (RERA), with the new target set for June 2028. Affected buyers, many of whom are paying both rent and home loan EMIs simultaneously, describe the situation as causing severe financial and emotional distress. The Montagge Unity Association, representing approximately 800 suffering buyers out of 930 total units, alleges that the builder demands full payment before completing construction and threatens cancellation if payments are withheld. Buyers have filed complaints with RERA and plan to approach the Economic Offences Wing, requesting a financial audit of the project’s escrow account. Despite repeated attempts to engage with the builder, residents report receiving excuses regarding pollution bans or funding issues. The protest highlights ongoing challenges in the Indian real estate sector regarding developer accountability and buyer protection.
The Indian Express