Homes 121: AOA and residents demand IFMS fund
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Homes 121: AOA and residents demand IFMS fund

As per residents, they have been asking for the IFMS fund for the past four year

Homes 121: AOA and residents demand IFMS fund

Noida: The residents of Homes 121 society have raised the issue of pending Interest Free Maintenance Security Charges (IFMS). While talking to CitySpidey, members of AOA said that they have been asking the builder for the IFMS fund from the first day of the formation of their AOA. They have already written a letter to the authority but no action has been taken so far.

On this Subject, Chakradhar Mishra, AOA President says, "Builder hasn't shared the information related to IFMS. He has submitted only rupees 3 crore.

However, 6 crores is still pending. We formed our AOA in the year 2017 and have been raising this matter with the builder since, still he hasn't done the needful yet”.

Moreover, during the time of possession in 2014, the builder demanded for the maintenance charges of two years in advance. On this subject, Chakradhar says, "Builder has to submit all the details, where he spends the money in the society. Authority should make a proper law and guidelines to make this point strong."

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Homes 121 society has 22 towers and 1,750 flats. Nearly 6,000 residents have been living in the society since 2016. Residents complain that the builder has simply handed over the responsibility of the maintenance work to the Apartment Owners Association when he must have done something to resolve the other issues.

The residents also complained about the issue of seepage in the basement. As per them, the pillars have developed cracks that compromise the safety of the structure. As per residents, they have been
complaining about the issue for the last five years. Dinesh Singh(40), a resident of the society says, "We have written many letters to the authority and we have demanded for the IFMS fund, but we don't get a positive response from the builder. Residents are worried due to the seepage issue and regarding this, we have been raising our voice for the past five years."

CitySpidey also tried to reach out to the builder but he was not available. We will update the story when we get a response.