The residential complex, Gardenia Gateway, is home of around 200 families, and they are going through this legal problem with no fault of their own. The public sector lender, Union Bank of India of Connaught place branch, has issued notices to these homeowners to vacate the house in a period of 15 days.
According to the bank, the developer of this complex has taken a loan of Rs 78.45 crore for society’s development. Subsequently, the borrower i.e. ‘developer’ has defaulted in payment, the bank has initiated action under Securitisation and Reconstruction of Financial Asset and Enforcement of Security Interest Act 2002. With no response from the developer, the eviction notice is being served to various homeowners as the residential complex stands over the mortgaged land to the bank. The plot measures 20,000 sq meters.
Amit Kumar, the director, and developer behind Gardenia Gateway told CitySpidey that he is unaware of the issue. Later he said, "I will look into the matter there must be a misunderstanding from the bank’s side."
Meanwhile, some of the residents even took the extra mile to visit the bank for clarification. Some homeowner even thinking of taking legal action. B.S Lavania, president of Apartment Owner Association Gardenia Gateway said, "According to an order by the Supreme Court, no one can force occupants to vacate the homes which are currently in their possession.”
Gardenia Gateway is a huge residential society, with over 550 residential units. Without a meaningful resolution, these peoples are facing real uncertainties.