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Cheating by builders to Greater Faridabad Home Buyers

Postby dheerajjain » Mon Aug 08, 2011 11:05 pm

Yesterday (07-Aug-11), GFWA lent support to residents protests of Omaxe Heights, Greater Faridabad . Media interviewed residents and leading newspapers like Navbharat Times came out with very good article explaining plight of Greater Faridabad home buyers. Please find attached.
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Re: Cheating by builders to Greater Faridabad Home Buyers

Postby AmitSudan » Tue Aug 09, 2011 10:22 am


No builder have full filled their commitments. Infect now they are saying they are delivering the project as per builder buyer agreement. Most of the flat owners have paid their first installments in 2006 and that time builders had said they will deliver the project within 36 months (6 month extension as per force majeure clause of the builder buyer agreement). But now they are cheating their customers by saying this period will start at the time of signing of their builder buyer agreement. They are not considering the first payment which was paid in 2006 (15% of BSP)and Second payment (at the time of registration) which was paid in the beginning of 2007 (15% of BSP+50% of EDC/IDC and PLC charges). They have signed the builder buyer agreement with their most of the customers at the end of 2007. Now they are saying their responsibility starts from the date of builder buyer agreement that means from the beginning of 2008 so they do not have to pay the penal interest as mentioned in the builder buyer agreements. Which is Rs.5 per sq.ft. per month in most of the cases. By doing this they have already removed first two years in which they have collected approx. 30% of BSP and 50% of EDC/IDC and PLC charges.

Why we should suffer the interest cost of the payment we have made to the builders?
Why the builders are not paying the penal interest to the flat owners from the date they have taken the money from the flat owners?
Why the administration have not done anything if they have already received the 50% of EDC/IDC charges towards the development of the area in 2007? It's been more than 4 years since they have received the money from the flat owners but still they are sleeping with that money doing nothing just wasting interest of the amount they have received from the flat owners through their respective builders.
Why can't they form a forum which can safeguard the interests of the flat owners?
Why can't they make accountable all the builders who have not delivered their projects on time? They should penalized all the builders and provide some relief to the flat owners who are paying huge interest cost because of the delay in possession of the flat.

for god sake please listen to the flat owners who have put their hard earned money for these flats.

Amit Sudan
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