Gurgaon: Sapna Nagpal had booked a two-bedroom flat in MVL Coral , a residential project in Bhiwadi , in 2011. She hoped of shifting to her new home soon as the builder , MVL Limited, had promised possession by 2013. After waiting in vain for six years, Nagpal has now lost hopes of getting her home any time soon.“We signed the builder-buyer agreement in December 2011. But till now, the builder has erected only a skeletal building with no interior work. In the tower in which I bought a flat, construction has been stopped since 2012,” she said.Over 500 homebuyers of the project are in the same situation, with many alleging that MVL also illegally acquired land for the project, made changes to the floor plan without their consent and increased the height of towers by violationg the sanctioned plan.MVL Coral was launched in 2007, with the developer promising possession within 48 months from the date of booking. In cases where full payment was given to the builder upfront, MVL promised to deliver homes within 12 months.Spread across 12 acres, the project has six towers and around 900 units. Till date, only three towers (2, 3 and 5) have been constructed, though buyers said they have paid almost 95% of the cost of their flats. Moreover, tower No. 6 has been constructed without approval from the authorities concerned, buyers alleged.Gagan Saini, another buyer, said around 140 families are already staying in towers 2, 3 and 5 without basic amenities or an occupation certificate, while completion of other towers (1, 4 and 6) is nowhere in sight. “I paid 95% of the flat’s amount in 2013. I have filed several RTI applications and found that lease agreement and sanction plan was violated by the builder, with authorities hand-in-glove with them.”“There is documentation to prove that MVL siphoned off large amounts of money given by homebuyers to be used on the project. It is shocking that the banks and other financial institutions gave full loans when construction stopped long ago and MVL was violating several building norms. Banks are supposed to conduct a thorough verification. If that had been done, our loan applications wouldn’t have been approved,” added another homebuyer The situation is no different in other projects by MVL — MVL Palm and MVL Indihomes in Bhiwadi, and IBC park in Gurgaon.On March 13, the economic offences wing of Delhi Police arrested one of the directors of MVL Limited, Prem Rishi, for taking money from hundreds of homebuyers and not delivering the projects on time.

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