Sare Homes: Residents, buyers relieved as new developer takes over

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Sare Homes: Residents, buyers relieved as new developer takes over

On March 9, the NCLT had issued a notice which declared the builder insolvent.

Sare Homes: Residents, buyers relieved as new developer takes over

Gurugram: The homebuyers of Sare Homes, a residential society in Sector 92, Gurugram have heaved a huge sigh of relief as a new developer, Alpha Corporation has carried out Bhoomi Poojan at the project and many families are expected to get their flats soon.

On March 9, 2021, the National Company Law Tribunal (NCLT) had issued a notice which declared the builder insolvent. With that, the residents had to wait for their flats.

CitySpidey talked to the residents and buyers of Sare Homes to understand their concerns.

Praveen Malik, a resident & ex-president of the RWA (Phase 1&2), said, “SARE Homes Project was launched in 2010, it is a township of 48 acres with approximately 3,000 flats, which includes high rises, low rises and commercial complexes in seven construction phases. Phase 1 and 2 is almost fully occupied with 828 flats. Those flats had received occupancy certificate in 2014-15 but still few amenities were missing which were in the scope of the builder.”

Credit: Supplied


“By 2016-17, 5 towers in the construction Phase-3 also received the OC and residents moved in again with partial amenities. Since 2017, the builder stopped the construction and the project was pending since then. In 2019, when RWA of Phase 1&2 was formed, they filed a case in HRERA, and parallelly few residents from Phase-4 filed the case in NCLT. However, nothing happened till 2020. RWAs and few volunteers of phases 1, 2 & 3 including Praveen Malik, Vinod Munshi, DN Chaudhary Suresh Sharma, Ritesh Kumar, Abhijeet pushed the project to be taken over by Haryana Government as per HSVP Act. The proceedings for the same were going on,” he said.

“In March 2021, the NCLT had accepted the insolvency of SARE Gurugram Pvt Ltd and after that, the RP (Resolution Professional) was appointed and the proceedings started as per NCLT. COC was formed as an important step. Now, Alpha Corporation is appointed to finish the pending work as DM (Development Manager) for the execution of the work. As the first step, they performed the Bhumi Pujan in the society, which is now a ray of hope for the residents and homebuyers. Their first priority is to hand over the flats which are almost ready. It’s a big hope for the 3000+ families,” he concluded.

Ritesh Verma, another resident of the society, said, “It's really a ray of hope for homebuyers who have been waiting for a long time to get their flats. It's also a big financial relief for them. We hope Alpha Corporation will fulfill buyers' dream home as well as common area development which is pending for a long time.”

Credit: Supplied


An ex-member of the RWA, Abhijeet Gautam, said, “After a long wait, we have our hopes high. Homebuyers in our Phase 3 are so excited about this movement and are eagerly waiting for the keys to their home. People who bought flats here are running everywhere for the last 10 years even after paying the full amount to get their home. I hope Alpha Corporation will be able to fulfill their promise and hope the homebuyers will celebrate the next Holi in their own homes. The builder went into insolvency under NCLT and now court-appointed Resolution Professional Ajit Gyan Chand has taken over the project, COC was made of homebuyers and after proper voting by homebuyers, Alpha Corporation has been selected as Development Manager now”.

Suresh Sharma, a buyer of Sare Homes, said, “After a long wait of five years, we have reached a milestone which seems to be the nearest milestone of our journey towards our home. On Monday, the new developer Alpha Corp, of the project completed Bhoomi Poojan. We as buyers are happy and looking forward towards the start of construction of our dream houses which is expected to finish by the mid next year 2022.”

Rocky Verma
Rocky Verma
11 Days Ago
Nice story