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Home >> Delhi

Gurugram homebuyers protest against builder

| Wednesday | 21st August, 2019

Gurugram: More than 50 homebuyers of ILD Greens, a housing project in Gurugram's Sector 37-C that has been delayed by over seven years. The homeowners protested at the office of Haryana Real Estate Regulatory Authority (HRERA) in PWD guest house near Rajiv Chowk. The buyers accused the developer of diverting funds to build other commercial projects and expressed their anger at the inability of the real estate authority to get the project work done. They also expressed their anger over the lack of action taken by the public agency against the builder. The buyers accused the developer of diverting funds to build other commercial projects and expressed their anger at the inability of the real estate authority to get the project work done.

Gurugram: More than 50 homebuyers of ILD Greens, a housing project in Gurugrams Sector 37-C that has been delayed by over seven years. The homeowners protested at the office of Haryana Real Estate Regulatory Authority (HRERA) in PWD guest house near Rajiv Chowk. The buyers accused the developer of diverting funds to build other commercial projects and expressed their anger at the inability of the real estate authority to get the project work done. They also expressed their anger over the lack of action taken by the public agency against the builder. The buyers accused the developer of diverting funds to build other commercial projects and expressed their anger at the inability of the real estate authority to get the project work done. ILD Greens project has presently 550 buyers, a majority of whom are living on rent and also paying EMIs of loan, said the buyers gathered at the Hrera office. In a subvention scheme, a homebuyer has to pay only 10 to 20 percent of the flat cost at the time of purchase. The bank pays the balance to the developer as per an agreement between buyer, bank and developer. The buyer pays the EMI after getting possession of the house and when the project is being built the EMIs are paid by the developer to the bank. When asked about the matter, Pratap Singh, secretary, Hrera, said that notices have been issued to the developer on this matter and the authority is considering the reply given by it. "We are trying to work out a solution. In case the builder is not ready to complete the project, we will have no option but hand it over to someone else as per rules," he said. When asked about the reply given by the developer regarding the project delay, Singh said, "The developer has informed that there are a large number of unsold units in the project that can be monetized and also around Rs 39 crore as receivables from the current buyers. We are looking into the assertions as per the rules." The developer did not reply to repeated phone calls and messages.

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