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A group of homebuyers in Mapusa, Goa, has filed a cheating complaint with local police against two real estate developers, alleging failure to deliver flats booked nearly a decade ago and misrepresentation during the sale process. The complaint concerns units in the Sai Ishwari residential project, where buyers say they paid in full but the developers did not complete construction within the promised timelines, causing financial strain and distress. Complainants have also sought an investigation into the role of a cooperative credit society that sanctioned loans for the mortgaged project, asserting that the society's actions warrant scrutiny. The case reflects broader frustration among property investors in the region over delayed delivery and accountability issues in the real estate sector.
A group of nine homebuyers in Mapusa, in the coastal state of Goa, has filed a formal cheating complaint against two real estate developers, alleging that they were misled and deprived of the flats they had booked almost a decade ago. The complaint was submitted to the local police by the aggrieved buyers, who say they had paid the full consideration amounts for units in the Sai Ishwari residential project but were never handed over possession of their homes as promised. Advertisement
According to the complainants, the developers repeatedly assured them of timely delivery and made representations about project specifications and timelines that were not fulfilled, prompting allegations of misrepresentation and wrongful conduct. The buyers have asserted that ongoing delays in construction and failure to complete the project have resulted in significant financial and mental hardship, given their long wait for possession without any clear resolution.
In addition to laying charges of cheating against the developers, the homebuyers have also sought a probe into the role of a cooperative credit society involved in the project's financing. They contend that the society sanctioned loans for the mortgaged development despite the company's inability to complete construction, suggesting potential lapses in due diligence or inappropriate conduct in loan approval.
The complaint has now prompted a police investigation, and authorities are examining the allegations to determine whether criminal offences, such as fraud or cheating, can be established against the promoters and any associated parties. The case adds to growing concerns among property buyers in several Indian markets over accountability, transparency and timely delivery in real estate projects, particularly where extended delays have left investors out of pocket and without possession of booked units.
Buyers in Goa have occasionally approached regulatory authorities to address delays and disputes, including under the Real Estate (Regulation and Development) Act, but criminal complaints are less common and may indicate deep frustration among affected homeowners. The outcome of this investigation could influence similar disputes elsewhere, underscoring the importance of enforcement mechanisms in protecting investor interests in the housing sector.
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