Gurgaon: Fresco demands audit into alleged builder fraud of Rs 15 crore
Welcome To CitySpidey


Gurgaon: Fresco demands audit into alleged builder fraud of Rs 15 crore

Residents alleged that the builder took the amount from residents for IFMS and facade painting, but used it for his personal expenses.

Gurgaon: Fresco demands audit into alleged builder fraud of Rs 15 crore

The Unitech Fresco RWA in Sector 50 has demanded a special Town and Country Planning audit of the developer’s financial irregularities about eight years back. The amount ran up to Rs 15 crore in IFMS (interest-free maintenance service) charges and money extracted from residents for facade painting.

Residents say that the developer collected Rs 3.75 crore for facade painting but used the money for personal expenses. The amount for façade painting was collected by the builder but not transferred to the Fresco maintenance account.

“Two months back we checked the bank statements of our maintenance account and found that a substantial amount of money collected from residents was getting used elsewhere regularly. We have requested the Department of Town and Country Planning to conduct an external audit of the Fresco maintenance account books to throw light on the fraud,” said Nilesh Tandon, RWA president.

Fresco also does not have an occupancy certificate since 2010, and as per Haryana Development and Regulation of Urban Areas Act, until the developer gets one, all mandatory services are its responsibility. However, the builder has been taking common area maintenance (CAM) charges from residents since 2010.

“The builder collected IFMS charges and the facade painting money worth Rs 15 crore from residents eight years ago but spent it elsewhere. Now he is siphoning off the CAM charges, amounting to Rs 3.5 crore per year, which he spends elsewhere and not on Fresco,” said Yogesh Matta, vice-president of the RWA.

The RWA also alleged that there were a lot of deficiencies in the project — DG sets were rented and not purchased; transformers weren’t adequate to meet residents’ demands; and the common area work was incomplete in many towers, whereas residents had already paid for them.

On the other hand, district town planner RS Bhath said, “The matter has come to our notice. After verification of facts, appropriate steps will be taken to address resident concerns.”

Despite several attempts, officials of the developer refused to comment.