DTP asks Suncity developer to submit details of IFMS deposits
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DTP asks Suncity developer to submit details of IFMS deposits

After a special audit, it was found that the funds were not kept in fixed deposit.

DTP asks Suncity developer to submit details of IFMS deposits

The District Town Planner (DTP) of Gurugram on Tuesday directed the director of Suncity Project Pvt Ltd to submit the details of Interest Free Maintenance Security (IFMS) deposits within seven days.

The director was asked to be present on September 30 with a detailed report on the shortfall in the electrical infrastructure and the issue of handover of the community centre to the RWA.

On September 5 and 12, a delegation of residents of Suncity, an upscale township in sector 54, met KM Pandurang, Director General TCP, seeking his intervention to resolve the matter.

The residents informed that they had deposited the IFMS fund with the developer and he needs to return the IFMS amount of approximately Rs. 3.5 crores. 

VMK Singh, former RWA general secretary said, “The colony was handed over to the MCG in March this year, but the IFMS funds were not given to the RWA. When we followed up the matter with the developer, it appeared that he would not fulfill his commitment and therefore, we have decided to take up the matter with the concerned department.”

According to the residents, a special audit of the funds on the account of IFMS was conducted after the order from the DTCP last year. 

In its report, it found out that the IFMS funds have been received by the M/s Suncity Project Pvt Ltd and the money has not been kept in the fixed deposit. It would have generated interest for the company.

The residents further alleged that the amount which was supposed to be transferred to the RWA was misused by the developer. 

Abhey Punia, a resident of Suncity said, “As per the builder-buyer agreement, the IFMS amount should be put in a fixed deposit and the amount is to be given to the RWA at the time of handover. If the funds are handed over to the RWA, they can put it in use for the development, maintenance and enhancing security in the society.”