Era Divine Court High Rise - Construction Status

[nsamant3]

If Adel (earlier Era landmarks) shows some courage to give possession to low rise members where projects are completed and will start construction early for high rise then it can take advantage of low cost of metals iron, low interest rates and can build good public image. Already peoples have suffered lot due to Adel landmarks and any further delay will increase financial burden on Adel and its customers. For diversified group like Adel it will be better to start construction of projects as once cost of projects will go up there will be more defaulters than good customers. It is bad for both Adel and its customers that the projects are getting delayed.

[nsamant3]

The court shall hand over project of ERA (ADEL) to some renowned builder who have good track record. It is very painful to hear that nothing is going on. Also there is no news of release of Bhadana (Chairman of Adel). What will be our fate?

[nsamant3]

Part of text from court order to DGTCP


“ Therefore, we deem it appropriate to issue direction to the Director General, Town & Country Planning Department, Haryana- respondent No. 2 to take a decision on the legal notice submitted by the petitioners. Respondent No. 2 shall take into consideration
2
not only the question of grant of permission to prosecute or to initiate prosecution, but also the fact whether the units, the construction of which is said to be complete by respondent no. 4 as well as respondent nos. 7 & 8, should be taken over by the State and the possession thereof be handed over to the allottees either on ‘as is where is basis’ or on ‘payment of construction charges’, subject to the final determination of the rights between respondent No. 4 on one side and respondent Ns. 7 & 8 on the other side.
Consequently, we dispose of both the writ petitions with a direction to the Director General, Town & Country Planning Department, Haryana – respondent no. 2 or such other Officer, who is competent to take a decision to decide as to whether there is any contravention of license by either or all of the respondent Nos. 4, 7 or 8 or the reasons for not handing over the possession of the units to the petitioners. If the Director General, Town & Country Planning Department, Haryana found that the action of the licensee is not in terms of the conditions of the license, he shall consider the taking over of the development works in terms of Section 8 of the Act. The necessary exercise be completed within a period of three months from the receipt of certified copy of the order.
Disposed of accordingly.”

[Narenjuyal]

Great great news...to increase the demand for housing sector RBI has cute 50basis points in repo rate to 6.75 % ...housing loan EMI to reduce now..property price may increase in near future with demand now.

[nsamant3]

What about construction status at high rise site? Is any activity going on?

[vkupadhyay01]

Its high time that Era should start construction on high rise to regain the faith of its valuable and loyal customer. The members actively in touch with the builder please provide update on the status of the commencement of high rise construction.

[nsamant3]

Can you trust your lender? Jan 03, 2014 13:23 IST HT Estates

The response to a query filed by Ashish Kaul, vice-president, Federation of Apartment Owners’ Association, Greater Faridabad, under the Right to Information Act is a damning verdict on the safety checks carried out by banks before disbursing loans. Home loans had been sanctioned for about 80% units in a society with 10,000 apartments, but HT Estates understands from the RTI reply that the building plan had not been approved by the district town planner, Faridabad.
Similarly, another RTI query on unauthorised construction in a ready-to-move-in luxury apartment in Indirapuram reveals that out of 326 flats in the project, building norms had been flouted for 80. Loans were given out by banks for about 90% of these ‘illegal’ flats.

In yet another case, banks disbursed loans for apartments in which the Noida development authority’s sanctioned building plans had been flouted.
for full story read
http://www.hindustantimes.com/realestat ... Kb9jK.html

[Narenjuyal]

Ghow could leading banks can approve the builder projects who have flouted norms and regulation..innocent buyers are being trapped by errant builders n banks to avail loan for the various project flat...banks are also equally responsible like corrupt builder who has flouted various norms and rules regarding possesing all required legal documents to ask for booking amount from buyers for the developing any project....banks should be prosecuted legally same as the builder in court...

[nsamant3]

DGTCP Organisational chart

[naveenarichwal]

DGTCP Organisational chart

These are all on Payroll of Builders , They can only cover the misdeeds of these builders similar to what a mother does to Mischief of her children.

[vkupadhyay01]

I have visited the Divine court site on 17th Oct and met the site in-charge there. He has informed that the company has appointed one senior level (Vice President by designation) for the high rise of Divine Court and he is already on job for planning of the commencement of the construction work of high rise. Most probably, the work will start from December. According to him, this time, company is very serious for the commencement of the construction work as all outstanding issues with BPTL has been sorted out and ADEL is giving possession to the low rise flats. Company is also sorting out their financial problems. I have also met few families there who have already taken possession. In fact, in one flat, the owner has completed all interior work also. Hope for the best.

[nsamant3]

If what is posted by lalaraju is true and what vk upadhyay is saying is also true then it can be imagined that the land matters are sorted out. That means the low rise will be getting possession in 1-2 years. Low rise construction is almost complete and my experience is that when initially society offers possession the infrastructure and roads are really bad it will take some years to make them good. But for high rise when builder will start construction? Where from builder will bring money or the financial charges will be revised??
Unlike the projects in gurgaon and palwal where company failed the Divine Court Faridabad was going very well but legal and financial problems have hindered the development. Plus company was not having valid licence which was sold to it by countrywide promoters. Offering of of fitout possession indicates that there is some progress but the genuineness of news is not known

[nsamant3]

ADEL is owner of the land on which high rise and low rise is constructed. The issue was with licence which they are holding and delayed possession of low rise. If ADEL is having required license it can transfer the units in the name of respective unit holders. many builders have got OC after completing projects.
The issue with high rise is severe fund crisis. There are only three solutions
1. Company shall raise funds from markets which they cannot do as on today after SEBI order.

2. To sell this entire projects in Faridabad to some renowned builder of course without cheating home buyers. This will solve their purpose as they will get much needed cash and can repay to investors as per SEBI order.

3. The last is to increase the cost of project and charge it to customers. which will be increased even though as on today if they will sell the project to some other builder.

[naveenarichwal]

On What Basis are you saying that ADEL is owner of the Land of Era divine court?

[naveenarichwal]

Adel/Era has to build 7 towers , each of 21 floors .
Can anybody in wildest imagination think that this project will be over in next 20 yrs.