NOIDA: In 2012-13, 1,400 buyers booked flats in a housing society planned alongside the Yamuna throughway. Five years later, in what has turn out to be a habitual theme in NCR, they are preparing for a felony combat for refunds. Waiting for the flats is not an possibility because the venture never took off, and was referred to as off via the developer.
At least 39 of the ones buyers who had booked houses in Sunworld's Vandita have determined to means the nationwide consumer discussion board for their money to be returned to them.
The patrons claimed the venture, located in Sector 22D of the Yamuna throughway area, was referred to as off last year, however the refund cheques have bounced. Each investor is claiming a reimbursement in the range of Rs 6.five lakh to Rs 8.five lakh. The developer, alternatively, claims it has returned the money to 75% of the patrons.
Officials in the Yamuna Expressway Industrial Development Authority (YEIDA) mentioned Sunworld had purchased 104 acres for Vandita in 2010 and deposited Rs 100 crore with it.
Sunworld alleged YEIDA had given it best 65% of the required land and that too in patches — now not as a large swathe — which made it difficult for the Vandita venture to be executed.
Told concerning the unavailability of land being cited via the builder for the venture being referred to as off, Arun Vir Singh, the CEO of Yamuna Expressway Industrial Development Authority (YEIDA), mentioned Sunworld owed the authority around Rs 379 crore as of December 31, which integrated the lease quantity, pursuits and farmers' additional compensation at 64.7%.
Singh mentioned the dues stored mounting regardless of YEIDA granting interest waivers to Sunworld for 2 years from 2013 when a case was filed in the National Green Tribunal.
YEIDA had in 2015 cancelled the land lease granted to Sunworld, however the builder secured a keep order from Allahabad prime court docket in March that year. "We are a group of 39 buyers at Vandita who had approached the builder and were told that the project was cancelled. We asked for refunds, but the cheques given to us have all bounced. The builder is not responding to our calls and emails. We have already approached the economic offences wing in Delhi. Now, we will take this matter to the consumer court," mentioned Sumit Saxena, a homebuyer.
Representatives of Sunworld met YEIDA officials last week and were given a possibility to negotiate at the phrases and conditions of paying the dues. "We offered them instalments so that they can pay us the amount and we can hand over the land. But at present, their dues are so huge that we cannot give them any more land unless the payments are made," mentioned a YEIDA reputable.
Sunworld director Y K Gupta mentioned, "We are in a financial crunch. We had paid over Rs 100 crore to YEIDA and never got the entire land. We had to cancel the project. Almost 75% of buyers have got their money. Some may not have received the money because of the crisis. We are working on it. Meanwhile, YEIDA has assured us we will get the entire land in three months."
At least 39 of the ones buyers who had booked houses in Sunworld's Vandita have determined to means the nationwide consumer discussion board for their money to be returned to them.
The patrons claimed the venture, located in Sector 22D of the Yamuna throughway area, was referred to as off last year, however the refund cheques have bounced. Each investor is claiming a reimbursement in the range of Rs 6.five lakh to Rs 8.five lakh. The developer, alternatively, claims it has returned the money to 75% of the patrons.
Officials in the Yamuna Expressway Industrial Development Authority (YEIDA) mentioned Sunworld had purchased 104 acres for Vandita in 2010 and deposited Rs 100 crore with it.
Sunworld alleged YEIDA had given it best 65% of the required land and that too in patches — now not as a large swathe — which made it difficult for the Vandita venture to be executed.
Told concerning the unavailability of land being cited via the builder for the venture being referred to as off, Arun Vir Singh, the CEO of Yamuna Expressway Industrial Development Authority (YEIDA), mentioned Sunworld owed the authority around Rs 379 crore as of December 31, which integrated the lease quantity, pursuits and farmers' additional compensation at 64.7%.
Singh mentioned the dues stored mounting regardless of YEIDA granting interest waivers to Sunworld for 2 years from 2013 when a case was filed in the National Green Tribunal.
YEIDA had in 2015 cancelled the land lease granted to Sunworld, however the builder secured a keep order from Allahabad prime court docket in March that year. "We are a group of 39 buyers at Vandita who had approached the builder and were told that the project was cancelled. We asked for refunds, but the cheques given to us have all bounced. The builder is not responding to our calls and emails. We have already approached the economic offences wing in Delhi. Now, we will take this matter to the consumer court," mentioned Sumit Saxena, a homebuyer.
Representatives of Sunworld met YEIDA officials last week and were given a possibility to negotiate at the phrases and conditions of paying the dues. "We offered them instalments so that they can pay us the amount and we can hand over the land. But at present, their dues are so huge that we cannot give them any more land unless the payments are made," mentioned a YEIDA reputable.
Sunworld director Y K Gupta mentioned, "We are in a financial crunch. We had paid over Rs 100 crore to YEIDA and never got the entire land. We had to cancel the project. Almost 75% of buyers have got their money. Some may not have received the money because of the crisis. We are working on it. Meanwhile, YEIDA has assured us we will get the entire land in three months."
Project with 1,400 flats in Gr Noida called off
![Project with 1,400 flats in Gr Noida called off]()
Reviewed by Kailash
on
January 04, 2018
Rating:
