Developer Report Card: RNA Address, 2 Years Behind Schedule And Languishing


RNA Address
RNA Address

Buyers and investors of Mumbai-based RNA Corp’s ‘RNA Address’ project are an angry lot. They claim that the developer has not completed construction on the project, in spite of having promised to deliver it 2 years ago.

Buyers Allege Project Delays, Unpaid Rent

RNA Address was launched in 2010 and delivery was promised in 2014. However, buyers claim that construction on the project has stopped and that there is no clear timeline on when they will get delivery of their dream homes.

“In 2013, construction on the project stopped and by then most of us had made 60% of the total payment. Since then we have been following up with the builder but there is very little communication about what is happening,” claims Srinivas Sadaipali, a buyer in the project.

The project also includes a redevelopment component, where the company has promised to take care of the rentals of the original home owners of the plot, while their new homes are being constructed. But here too, there are allegations that the company has broken its word.

“There is no work going on and we are like refugees on our own land. We can do nothing about it,” says a bitter Robert D’Souza, whose building was demolished for redevelopment by the developer.

“We were told that the project will be completed in 3-4 years but now it’s been 8 years, and there is no sign of completion. Earlier we used to get rent on time, but now there is a problem in that also,” claims another homeowner who did not want to be named.

NDTV sent a detailed questionnaire to the company on these issues, but we have not received any response from the company so far. Frustrated by the experience, some home buyers have filed cases in the consumer courts and other are exploring legal options.

Edited by Nikhil Narayan Sivadas, NDTV

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