Godrej Nest Buyers in Noida Sector 150 Face Financial Distress Over Delayed Flats

Homebuyers at the Godrej Nest housing project in Sector 150, Noida, are facing severe financial and emotional distress after the developer failed to deliver their apartments by the promised possession date of September 2024. Despite booking properties years in advance, several buyers remain stranded with incomplete homes, mounting loan repayments, and disrupted retirement plans.

Among those affected is a government employee posted in Mumbai who booked a 1,543-square-foot, 2BHK-plus-study apartment in 2022 for Rs 1.34 crore. Armed with an initial investment of Rs 40 lakh from his parents, he took out a home loan to fund the purchase. However, when the September 2024 possession deadline passed without completion, his bank refused to extend further credit without a written confirmation of the possession date.

To pay the final installment of Rs 7 lakh, the employee was forced to break a fixed deposit meant for his teenage son’s education. After a relative visited the Sector 150 site and confirmed the building was incomplete, the buyer received an email on July 2 informing him of a handover, but it demanded an additional Rs 1.30 lakh and stated maintenance charges would apply from July 1.

Other buyers have reported similar struggles. A 62-year-old retired government school principal sold her property in Jaipur to purchase a 3+1 BHK resale flat in Godrej Nest for Rs 1.75 crore, hoping to live near her children in Sector 135. Due to the delivery delays, she has been forced to live on rent in Sector 128, Wishtown.

While the developer began handing over possession in two of the seven towers in late June, covering around 550 flats, residents have raised concerns over poor quality. One buyer who received her keys in late June alleged seepage issues and poor construction, claiming she had to redo the kitchen and bathroom tiles.

Godrej did not respond to queries regarding the project delays and construction quality complaints.