With no house in sight and hefty bank loans against their names, property buyers in the multi-crore Aliens Space Station-I staged a protest in front of Tellapur office in Mid September.
Nearly a decade after its glitzy launch, the multicrore Aliens Space StationI project has turned into a nightmare for 400-odd buyers. “The builders’ inordinate delay in handing over the flats on time has severely hit our pockets. Many customers continue to stay in rented flats and pay EMIs. A few of them have stopped paying EMIs considering the consequences on their finances,” said Manmohan Singh Chane, secretary of Aliens’ welfare association.
The fact that the police, despite a string of consumer court orders and complaints, has failed to take any action against the firm’s bigwigs, has only added to their woes. Even the political class, sadly, has turned its back on buyers paying little heed to the repeated representations submitted over the past many years. “A few customers have even got rulings from the high court. However, the Aliens Group has failed to pay the customer despite court orders,” said Chane, calling it clear contempt of court.
Customers claim that out of total 2,182 flats, only 160 to 170 have been constructed by the builder so far. Of the 13 towers, each with 29 floors, only one has been ‘structurally’ completed. “We had to hit the streets because even after a decade the entire process has been moving at a snail’s pace. The group recently told us that it was exploring the option of attracting private equity to return our money. But even that seems to have fallen flat now,” said a buyer.
It may be recalled that in March 2015, the Ramachandrapuram police had arrested Aliens Group managing director Hari Challa on charges of cheating (Section 420) and breach of trust (Section 406). Customers had accused Aliens of defrauding them of over Rs 500 crore. But, two months later, Challa secured bail and said he was not guilty.