In a relief to 182 homebuyers of Kharadi-based Liviano project, Goel Ganga Developments has taken over the project and will complete it by March next year.
The project, originally developed by Darode-Jog Realtors, was slated to be originally delivered by July 2014. The dates were, however, revised multiple times.
“Goel Ganga Landmarks, a subsidiary of Goel Ganga Developments, has taken over the project in Kharadi from Darode-Jog Realtors. The project is taken over with the consent of the clients of Phase I, ICICI Bank and the existing developer, with all stakeholders showing maximum support to make the deal a success,” Goel Ganga Developments said in a statement.
The deal involves completion of 212 units in Phase I of the project spread across 8 acres of land in Kharadi. The Goel Ganga will foray into Phase II of the project that is set to get under way in about two months.
“We paid Rs 60 crore for the land to ICICI Bank, to whom Darode-Jog had mortgaged the land. Further, ICICI Bank has also extended a line of credit of Rs 100 crore for the phase II of the project to us, which we will tap into when the Phase-II gets underway,” Agrim Goel, director, Goel Ganga Developments told TOI.
The company clarified that customers won’t have to pay anything extra, other than the dues that they are obliged to pay.
Darode-Jog also has other incomplete projects across the city. In one such meeting held at its office a few months ago, a group of consumers demanded that project work be started within a week. This was after the developer could not comply with the MahaRERA order of repayment within time.