Issues at Air Castles, Marunji. - Builder Kohinoor Group, Rama Group.
Kohinoor/Rama Group builder does not have the Search & Title report available for Air Castle land even after 7 months of launching the scheme. Builder is trapping buyers by asking to pay 20% amount out of pocket (Rs.4-6Lacs) when his project papers are not in place for bank loan approval.
None of Govt. Banks are currently approving loans for this project.
1. If anyone has booked a flat in Air Castles, Marunji please join its yahoo user group. http://in.groups.yahoo.com/group/aircastlespune/
If you know someone, who has already booked here, let them know urgently.
2. If anyone has already booked, then do NOT pay the 20% amount demanded before the registration, since banks will not approve your loan application without S&T report.
3. If you are thinking of buying a property here, make sure that all the docs required for bank home loan are ready and available from the builder, before you book. Once you have booked/registered, you are trapped like others.