In its petition filed with the National Company Law Tribunal (NCLT), the RWA says the builder is yet to return them interest free maintenance security (IFMS) deposit even though the handover happened in April last year.
Taking their fight to the next level, the residents welfare association (RWA) of Vipul Greens, a high rise in Gurugram's Sector 48, has filed a petition against the developer with the National Company Law Tribunal (NCLT) for withholding interest free maintenance security deposit (IFMS) even though the handover of the township was completed in April last year.
According to a report published in TOI, the petition was published earlier this month. The tribunal has now sent a notice to Vipul Limited, and asked them to appear for a hearing on March 27.
The developer had received six occupancy certificates (OC) by 2013, said the residents, but yet IFMS hasn’t been transferred to the RWA.
Sant Kumar, RWA president, said, “We had paid the developer IFMS at a rate of Rs 50 per sq ft, which hasn’t been returned yet. The flats were handed over to occupants from 2007 to 2011. By March 2013, the condominium was completed and all six OCs were obtained by the developer.”
The provisions of the Haryana Apartment Ownership Act, 1983 state that the builder is obligated to hand over the maintenance of the complex immediately after obtaining OCs, added Kumar. “However, the developer maintained its control till March 2018.”
NCLT issued a notice two weeks ago to the developer. “The security deposit and consequential interest aggregate to around Rs 10 crore,” said Sunil Pachar, an RWA member.
Kumar further added that the annual upkeep cost for the township is around Rs 6 crore, and the RWA is struggling to manage it without the security deposit.
Meanwhile, a Vipul official said that the residents had taken the handover from them forcibly. “A hundred people came to our offices last year and staged a protest. They neither gave us any indemnity nor arrears. Besides, this RWA has only 100 members while Vipul Greens has over 600 residents. If we gave them the IFSM, other residents would come to us and ask about the money,” the official said.