An investor in the Umana Developments housing project says that he is being given the “royal run around,” to get back his money.
Roshanchand Rambharrat is among dozens of persons who made down payments for houses at Sara Johanna, East Bank Demerara. After the one year contract for completion of the project elapsed, he asked the developer Fazal Ramzan for his money back. A visibly frustrated Rambharrat told Stabroek News recently that he was repaid $100,000 with a promise that he would get the remaining $500,000 at a later date.
He has not heard from Ramzan since.
Repeated efforts by this newspaper to reach the developer on Friday were futile.
Displaying a file with his receipts, the lapsed contract, the house plan and newspaper articles, Rambharrat explained that he and his wife decided to make an investment for a low income house after seeing an advertisement in 2008. “We were desperate to own a house so the plan was to make a $600,000 deposit for a $6M house,” he said, recalling that they made the payments in four instalments. Once the deposit was paid, he explained, they were told that they would be able to access a bank loan to have the house built. According to a contract that was signed, Umana Developments was to build his house within a year.
He said that after that time passed and the construction had not started, he decided to ask for a refund of his money and was given $100,000.
Rambharrat explained that Ramzan kept coming up with different excuses when he inquired about the delay in the construction of his house. “First he claimed that he had a problem with the land. Then it was people were living on the land and then he tell me how GPL got to move some pole,” he recalled. The man said that many times he went to the site where Ramzan had already constructed an office but he was never there.
The frustrated man told this newspaper that earlier this year his wife went to Brickdam Police Station to make a report and was told that many more were in the same situation. That report was made but nothing has come out of the matter.
He said that help was sought from the Housing Ministry but officials there said that it was a private matter and nothing could be done.
“This is nah fair at all cause he just ripping people off… He promised that we will get back all we money,” the man said, adding that he fears that Ramzan might flee the country. “Right now I just frustrated because I can’t afford to take a lawyer. Other people have he in court but I can’t afford it,” he added.
Rambharrat pleaded with the relevant authorities to intervene in the matter and insure that all those affected get justice.
Ramzan contacted Stabroek News in July, days after an article about the investors’ inability to contact him, was published. He insisted that the project is underway and that he has nothing to hide from those persons seeking refunds.
Ramzan explained that he moved from the Winter Place, Brickdam location where the entity was initially housed, to a location on Sandy Babb Street, Kitty some time last year. He then later moved to a new base, at Sarah Johanna, where the project is underway.
Another project planned initially by Ramzan, Friendship Mews, has been pushed back to next year.
The man had assured this newspaper that the company has been making moves to refund various sums of money, which amount to approximately $10M, to persons who had initially invested in the project. According to him, of the 50 persons who indicated interest and signed relevant documents regarding the project, close to a dozen remain in his records, while refunds are being settled with approximately 20 persons.
He claimed that he had been in constant contact with persons who changed their minds about the project after making initial payments and arrangements were made with such persons over the past several months to settle outstanding amounts owed to them. Ramzan had noted also that some of his clients approached the courts and he had been honouring his payments via this avenue.
Ramzan then informed this newspaper that there is an ongoing issue in the courts regarding the project at Sarah Johanna, as several persons have been squatting on a section of the land where the housing scheme is being developed.
During an interview in January he had disclosed that a 4,000 by 200 ft man-made lake was likely to be the standout point of the community at Friendship which he dubbed Friendship Mews –‘Life at the lake.’
The lake was expected to be built at the centre of the community, consisting of marinas and boardwalks at both ends.
Waterfront stores and restaurants were to complete the scene at the lake.
The communities’ plans included space for shopping centres, supermarkets, day-care centres, libraries, ATM machines for major banks, private schools, a shuttle bus service, playfields and other recreational venues.
