The Supreme Court yesterday, finally took view of the sorry state in which the home buyers in Noida Extn were pushed after its verdict of returning the land back to the farmer.
Has said now, that the builders should return the amount deposited by home buyers with interest. but amazingly has been silent as to what should be rate of inerest and within what time frame does the court feel the same should be paid back to the home buyer. what would be a justifiable time frame and justified rate of interest....no mention.
The builders have started telling buyers (orally) that they would refund within a weeks time...But will they...the builders would first try to negotiate the home buyers to shift to other project and would definately bring in the clauses in the agreement to forth for such negotiation to come through...I do not see builders refunding money so easily...but I have been a long time fool...proven without fault ...many a times.
Now, our dear farmers, have had a meeting recently and are grouping to re-negotiate the land prices with the Noida authority...have emphatically said that their younger generation does not want to go back to farming and if we get 80% of the market value we will be happy to sell our land back...Now, this fact twists everything again in favour of the builder and authorities....see how..
The builder will tell customers....do not worry we are re-negotiating with the farmer...the project could be a little delayed but would definately come on this site only...after all we are a trusted company and we would never let your investment fail...
The authorities, will play around with farmers and flirt with the builders...would definately get more than 80% land back after shelling out a higher compensation to the farmers...this effort would definately take some time...giving the builders chance to breathe easy and the home buyers more perplexed with what to do in the interim...finally till we have effective and efficient association of the home buyers...we will always be on the losing side.
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.
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.
Tuesday, April 12, 2011
New projects by Era landmarks
The Company Era landmarks(i) ltd, has started selling new projects in and around NCR. They are offering apartments in Faridabad, Palwal and Gurgaon. The apartments that they are offering at Faridabad, is a highrise complex that they had sold in 2007 and after a period of more than two years abandoned the project and has now come up with another at the same location by the name of " Divine court, sector-76".
The project in Palwal, is the project that was earlier to be a highrise apartments but after more than two years the company abandoned that project aswell, forced customers to transfer into this new project that is now coming up as independent floors again by the name of Divine court, palwal.
Now lets come to the project that Era is coming up in gurgaon, you all would be amazed that this project was also sold to public in 2007 and has till date not seen any development work.
The other projects that thatthe company started in faridabad is Redwood residency sector-78, it was to be completed by sept-2010 and now the builder is saying that it will take 18 more months and that the project is on time. The central green area shown till date in its plans is not in its possession and it says that it never showed it as its own land. There are three roads that cut through the project but the builder says that if the govt brings in new roads how can he go against the govt. whereas the fact is that his project plan that got approved in 2007 shows all three roads. Therefore please check personally on what you are buying from any builder and do not rush your desicion based on recommendations of the property brokers or investment guru's......your hard earned money is at risk.
The project in Palwal, is the project that was earlier to be a highrise apartments but after more than two years the company abandoned that project aswell, forced customers to transfer into this new project that is now coming up as independent floors again by the name of Divine court, palwal.
Now lets come to the project that Era is coming up in gurgaon, you all would be amazed that this project was also sold to public in 2007 and has till date not seen any development work.
The other projects that thatthe company started in faridabad is Redwood residency sector-78, it was to be completed by sept-2010 and now the builder is saying that it will take 18 more months and that the project is on time. The central green area shown till date in its plans is not in its possession and it says that it never showed it as its own land. There are three roads that cut through the project but the builder says that if the govt brings in new roads how can he go against the govt. whereas the fact is that his project plan that got approved in 2007 shows all three roads. Therefore please check personally on what you are buying from any builder and do not rush your desicion based on recommendations of the property brokers or investment guru's......your hard earned money is at risk.
Tuesday, February 15, 2011
CCI Cracksdown on DLF
Rejecting the plea of realty major DLF Ltd, competition appellate body COMPAT has allowed watchdog Competition Commission of India (CCI) to continue with its enquiry against the company, which is under the scanner for allegedly misusing its dominant market position.
DLF had moved the Competition Appellate Tribunal (COMPAT) against Competition Commission of India (CCI) for initiating a probe without hearing the accused.
"COMPAT has dismissed DLF's appeal that sought stay on the CCI enquiry against it. They had appealed under section 33 of the Competition Act saying that no enquiry can be initiated unless reasons are recorded to arrive at an 'opinion' that a 'prima-facie case' exists," an official said.
The investigations against the realtor is already complete, with the Director General having found DLF violating, besides others, Section 4(2)(a) of the Competition Act.
DLF had moved the Competition Appellate Tribunal (COMPAT) against Competition Commission of India (CCI) for initiating a probe without hearing the accused.
"COMPAT has dismissed DLF's appeal that sought stay on the CCI enquiry against it. They had appealed under section 33 of the Competition Act saying that no enquiry can be initiated unless reasons are recorded to arrive at an 'opinion' that a 'prima-facie case' exists," an official said.
The investigations against the realtor is already complete, with the Director General having found DLF violating, besides others, Section 4(2)(a) of the Competition Act.
Sunday, February 13, 2011
Demonstration
Faced with a double whammy of corrupt real estate builders and lethargic and incompetent civic agencies, the customers of Neharpar area of Faridabad, as it is also called Greater Faridabad, are going to collectively demonstrate outside the HUDA office from MOrning to raise their concerns and greivances, On 1st March,2011.
The Faridabad exchequer has collected crores of ruppees in the name of development charges from thousands of allotees of builder flats/plots from this region. similarly from builders for granting them licences to develop these townships in this area. BUt all that money has not been used to invest on infrastructural development of this region. There are no sector roads, no electrifaction work executed for this region, no water or sewer lines laid down in this area, No telephone lines laid, it has been learnt that HUDA has not even acquired the land laid down in its master plan of last decade, which was to be used for infrastructural development of this region. The bigger question for those thousands and thousands of people is how and when will this area be livable for them. They have already paid almost the entire cost of these apartments, but with no civic amenity these customers can not think of living atleast for the next three more years.That is a very optomistic forecast. The way work has been moving it does seem a difficult target.
The fact is, what is the fault of the thousands of people who have bought apartments in this area and have helped the faridabad exchequer raise crores of ruppees. Thousands of peoples loss is primarily going into the pockets of three agencies- 1) The real estate developer.2) DTCP. 3) HUDA
These people are gaining at the expense and loss of the thousands of customers who had been lured into believing of buying a dream home in the midst of bountiful greens.
An estimated ten thousand apartments are being constructed in Neharpar, easy to gauge that almost fifty thousand people lives hard earned money is at stake. That too, in NCR. Right under the eyes of the urban and housing ministry and the central govt.
The Faridabad exchequer has collected crores of ruppees in the name of development charges from thousands of allotees of builder flats/plots from this region. similarly from builders for granting them licences to develop these townships in this area. BUt all that money has not been used to invest on infrastructural development of this region. There are no sector roads, no electrifaction work executed for this region, no water or sewer lines laid down in this area, No telephone lines laid, it has been learnt that HUDA has not even acquired the land laid down in its master plan of last decade, which was to be used for infrastructural development of this region. The bigger question for those thousands and thousands of people is how and when will this area be livable for them. They have already paid almost the entire cost of these apartments, but with no civic amenity these customers can not think of living atleast for the next three more years.That is a very optomistic forecast. The way work has been moving it does seem a difficult target.
The fact is, what is the fault of the thousands of people who have bought apartments in this area and have helped the faridabad exchequer raise crores of ruppees. Thousands of peoples loss is primarily going into the pockets of three agencies- 1) The real estate developer.2) DTCP. 3) HUDA
These people are gaining at the expense and loss of the thousands of customers who had been lured into believing of buying a dream home in the midst of bountiful greens.
An estimated ten thousand apartments are being constructed in Neharpar, easy to gauge that almost fifty thousand people lives hard earned money is at stake. That too, in NCR. Right under the eyes of the urban and housing ministry and the central govt.
Wednesday, September 1, 2010
Era landmarks and it ulterior motives
The group formed of the consumers of the REDWOOD PROJECT will meet tomorrow to discuss the malicious and ulterior designs of the developer. since all dialogue has been blocked by the builder now its safe to understand that Era does not want to resolve our grevieances and concerns amicably. The last effort in which we had written to them has still not been answered and instead Era has started issuing cancellation letters.
Therefore tired of approaching Era and begging for our right for information, we are being forced to look at other alternatives to get redressal to our grievances and concerns.
Therefore tired of approaching Era and begging for our right for information, we are being forced to look at other alternatives to get redressal to our grievances and concerns.
Saturday, August 7, 2010
FRAUD BUILDER
NR Builders’ case: Bail plea of two rejected
Our Correspondent
Noida, March 4, 2006
After the Noida Authority lodged an FIR against the management of NR Builders for having sold flats in Sectors 48 and 142, there is total chaos.
While the bail applications of U. K. Kesarwani and Rajesh Jain have been rejected by the court, the builders of Kesar Gardens and Gulmohar Garden apartments are reported to be bringing in political pressure on the district administration and the police.
Kersarwani and Jain had collected the full price of land of three apartment buildings from the flat allottees but failed to deposit it with the Authority. Both owe Rs 10 crore to the Noida Authority.
N. K. Jain and Naseem Ahmed, managers of NR Builders, have been named in the FIR lodged in the Sector 20 police station. The builders are learnt to have announced a new scheme for Sector 142 also on a piece of land situated on the proposed Ghaziabad–Noida–Faridabad highway. This land is in the notified area, which is under the Noida Authority’s possession now.
This builder has also used the name of a cooperative housing society. But the price of the land has already been remitted to the office of the ADM, LAR, by the Noida Authority.
But N. K. Jain, MD of the firm, has claimed they have the documents pertaining to 3,622 hectares in the name of Consumer Protection and Housing Development Society. The CEO, Noida, however, stressed that this land had been notified and was in the possession of the Noida Authority.
Our Correspondent
Noida, March 4, 2006
After the Noida Authority lodged an FIR against the management of NR Builders for having sold flats in Sectors 48 and 142, there is total chaos.
While the bail applications of U. K. Kesarwani and Rajesh Jain have been rejected by the court, the builders of Kesar Gardens and Gulmohar Garden apartments are reported to be bringing in political pressure on the district administration and the police.
Kersarwani and Jain had collected the full price of land of three apartment buildings from the flat allottees but failed to deposit it with the Authority. Both owe Rs 10 crore to the Noida Authority.
N. K. Jain and Naseem Ahmed, managers of NR Builders, have been named in the FIR lodged in the Sector 20 police station. The builders are learnt to have announced a new scheme for Sector 142 also on a piece of land situated on the proposed Ghaziabad–Noida–Faridabad highway. This land is in the notified area, which is under the Noida Authority’s possession now.
This builder has also used the name of a cooperative housing society. But the price of the land has already been remitted to the office of the ADM, LAR, by the Noida Authority.
But N. K. Jain, MD of the firm, has claimed they have the documents pertaining to 3,622 hectares in the name of Consumer Protection and Housing Development Society. The CEO, Noida, however, stressed that this land had been notified and was in the possession of the Noida Authority.
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