Kumar Urban Development Ltd (KUL), Pune – Refund of advance money not being paid by KUL

I was planning to invest in KUL Square, a shopping complex proposed to be built by Kumar Urban Development Ltd (KUL) in Kondhwa area of Pune city. I paid advance of Rs. 50000/- online way back on 27th Aug ’12. At the time of booking the shop, I have been told that all the approvals from Govt. would be in place by Oct / Nov’12. However, the approvals were not in place and the builder started asking for the balance money to be paid. I have requested for the approval documents prior to committing further payments. Builder still insisted that money will have to be paid. I then cancelled the deal saying that this can’t happen without the approvals in place. The cancellation happened in Dec’12. When I demanded the refund of my advance, they said that its being processed and would be paid out in a few days in the month of Jan’13. However, in spite of repeated followups on phone / emails, there has been no refund of the advance paid to them. I always used to get the response that the cheque is awaiting signatures from their directors. At times, I was told the refund is held up since resale of the shop booked by me still did not happen etc. When I asked why my refund has to wait for the resale and what connection it has got to paying refund to me, there have been no answers. Worse still, the concerned project manager, Mr. Rajendra Bhagat (ph: 09960594204) never answered from his mobile and I could reach him very rarely through the company reception. Whenver I couldn’t reach him, messages left to his colleagues to call me back on my mobile have never been reciprocated. I demand refund of my advance money with 24% interest for all the delay in not paying it to me and further harassing me with negligent and unprofessional behavior by the builder.

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  1. I invested in Kul Square project in 2013. Today is end of 2015, but the project has not even commenced. Can anybody please let me know, those of you who have invested in Kul Square or any other projects of Kul, who have asked for a refund of their money and have got it with interest or have approached consumer court and have been successful. Please connect with me at husnain.global@gmail.com. Thank you.