RWA files petition against builder over upkeep funds

  • | Tuesday | 26th March, 2019

Besides, this RWA has only 100 members while Vipul Greens has over 600 residents. If we gave them the IFSM, other residents would come to us and ask about the money,” the official said. However, the developer maintained its control till March 2018.” Kumar said, “The annual upkeep cost is around Rs 6 crore, and we are finding it very difficult to manage without the security deposit. They added that the IFMS, which they paid at a rate of Rs 50 per sq. Gurgaon: The residents’ welfare association ( RWA ) of Vipul Greens residential complex in Sector 48 filed a petition with the National Company Law Tribunal ( NCLT ) against the developer for withholding interest free maintenance security deposit (IFMS) even though the township was transferred in April last year.

Gurgaon: The residents’ welfare association ( RWA ) of Vipul Greens residential complex in Sector 48 filed a petition with the National Company Law Tribunal ( NCLT ) against the developer for withholding interest free maintenance security deposit (IFMS) even though the township was transferred in April last year. While the petition was filed earlier this month, the tribunal has now sent a notice to “debtor” Vipul Limited, asking the developer to appear before it for a hearing on March 27.Residents in the township said the developer had received six occupancy certificates (OC) by 2013, but the developer had not transferred the maintenance to RWA yet. They added that the IFMS, which they paid at a rate of Rs 50 per sq. ft. had not been returned. “The flats were handed over to occupants from 2007 to 2011,” said RWA president Sant Kumar, adding, “By March 2013, the condominium was completed and all six OCs were obtained by the developer.As per the provisions of the Haryana Apartment Ownership Act, 1983, the builder was obligated to hand over the maintenance of the complex immediately after obtaining OCs. However, the developer maintained its control till March 2018.” Kumar said, “The annual upkeep cost is around Rs 6 crore, and we are finding it very difficult to manage without the security deposit. The township is also aging and requires more funds for better upkeep.”Sunil Pachar, an RWA member, said, “The security deposit and consequential interest aggregates to around Rs 10 crore.”Two weeks ago, NCLT issued a notice, informing the developer about the petition.A senior official of Vipul Limited told TOI that the takeover process was done forcibly. “A hundred people came to our offices last year and staged a protest. They neither gave us any indemnity nor arrears. Besides, this RWA has only 100 members while Vipul Greens has over 600 residents. If we gave them the IFSM, other residents would come to us and ask about the money,” the official said.

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