Noida Authority has mandated 15 days for the money to be returned to residents.
A delegation comprising members of the society’s management board and residents of JM Orchid, in
Allegedly, the builder has been delaying the refund of Rs 1.5 crore, an amount collected from the 685 residents of the society as a fund for interest free maintenance service (IFMS).
The resident body of the society had taken over the charge of maintenance and security in May last year from the builder. While handing over, the builder had allegedly assured residents that he would return the amount. Now even after almost a year and a half, the builder has not refunded a single penny.
And this is not all. The builder had promised that he would continue the repair work of seepage. This, too, stands undelivered. Residents have now complained about seepage in the basement of the society, which is weakening the walls.
A letter addressed to the authorities says that the resident body had held a series of meetings with the builder to find a solution, before approaching the ACEO.
Speaking to City Spidey, Sachin Goyal, president of the resident body, said they had urged the officer to initiate action against the builder.
“We want the officials to order the builder to refund our remaining maintenance money of Rs 1.5 crore, with an interest of 18 per cent. The interest is to be charged on the basis that the money has been lying idle with him from May last year,” Goyal said.
ACEO Rai has ordered an inspection of the seepage sites in the society. He has also ordered a notice to be served to the developer, directing him to return the idle maintenance fund within 15 days. He added that the builder would have to notify Noida Authority officials once he had returned the money.