Unhappy with the slow process of construction, residents of Rudra KBKNOWS group, a residential society in Greater Noida West, staged a protest against the builder alleging that the construction work has stopped. Scores of home buyers on Sunday gathered at the project site holding banners and posters in their hands and raised their voices.
Aggrieved home buyers said that they have paid up to 95 percent dues of their flats, however, project is yet to be completed. Earlier, home buyers association approached the Greater Noida bench of Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) and the builder was directed to complete project by September 30 this year.
According to the home-buyers, they were supposed to get possession of their flats by March 2015. However, they got agitated when the project was not completed on time.
“Following our complain, RERA has asked the builder to provide possession of flats by September 30 but he is delaying the project deliberately,” said a home buyer.
UP-RERA on August 13, 2019 directed Rudra group builder to provide possession by September this year. RERA has also asked the builder to pay compensation to home buyers with interest for not providing possession on stipulated time. The UP-RERA bench had also said that if the flat buyers delay in clearing their dues, the developer can impose fine against them.
“Out of total 672 flats, around 80 flats are unsold and buyers have paid up to 95 percent dues of their flats. It has also been revealed that home buyers’ money, which amounts to Rs 38 crore, was invested in other projects. Later an escrow account was open so that money can be deposited and invested as per the requirement in the project. But the money which was invested in other purpose was not deposited in the escrow account,” said Ajay Tomar, president of Rudra KBKNOWS home buyers association.
During the protest, the home buyers threatened to go to the court if the builder failed to meet deadline of September 30. “Out of four towers, two towers are at advanced stage whereas two are 50-70 percent complete. We will follow RERA’s direction and but if we did not get possession by September 30, we will go to the court,” Tomar said.TAGS: Rudra Wildwell / Greater Noida West / builder / developer / home-buyers / flat-buyers / Uttar Pradesh Real Estate Regulatory Authority / UP-RERA / escrow account