Tuesday, July 12, 2011

Homebuyers in doldrum

Dear All,
The Supreme Court of India, in its recent judgement nailed the home buyers completely. Returning the land to the farmers was Infact a good thing, but at the same time why did it not pass strict orders to the builders to return the money of all the home buyers in their projects within 30 days.
The builders and the authorities who are behind this mess always get away with no punishment. The Noida Extn land if was acquired by the authorities where 75% farmers had not taken compensation from Noida authority than how could it put it for sale to the builders. The builders who have said categorically that since there was dispute on this land "did no actual construction work on this land", than why did they promise home buyers possession within 36 months and also how could they take multiple installments. The banks who are suppose to grant loan after due diligence...what have they done....all the three have together cheated a common citizen of India...and all are hiding behind the contracts that they make all buyers sign....which are anti-competition and are absolutely one sided.
Similar situation is now developing in the neharpar area of faridabad. The DTCP in its master plan of 1997 had declared 15 new sectors in greater faridabad. the fact is that from 2006 the builders started selling flats/villas/plots/shops/independent floors etc and soon would be starting to give possession...as I write this aprox 50 families have also moved into different project... even after 14yrs and 5 yrs after accepting enormous amount as EDC from all home buyers which runs into thousand of crore...there has been no development work in this area...the very fact that the DPR of the area has still not been prepared...there are no roads except for the village roads....there is no sewerage system....no waste water drainage system....no fresh water connection...no electricity from the electric board...no post office...police station...nothing....there is absolutely nothing for 50,000 home buyer in this area who would be shifting into their homes within couple of years...but is anyone Listening....no...not even the home buyers....we need to have our own association...big enough for our voice to be heard.

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