Have you signed Builder-buyer agreement? If yes, when?

What is the completion date as per that agreement?

That Omaxe is facing cash crunch is not a new news. They are yet to deliver projects launched in 2005-2006 such as Omaxe Hills in Faridabad, Omaxe Heights is not delivered completly and they have increased super area of the flats in that project at the time of possession, Grandwoods in Noida launched in 2006 is yet to be completed and so is their GNoida project launched in 2006. Basically all of their projects are in bad state.

If they are not able to complete projects for which they took money from customers 5-6 years ago then your 2 years of delay is nothing. Rule of law doesn't exist in our country, so builders such as these will continue to remain in business.

Omaxe bought this land from Triveni many years ago. In 2007, a sample flat for triveni Galaxy was built on this land by Triveni and later Triveni sold the land to Omaxe. S.N. Realtors was a company owned by Triveni.

Have you asked the Omaxe to return your money with interest?

No my friend, i did not ask Omaxe to give me my money back till yet as i aspired to own a house and as every builder has same problems i wanted to be patient let the dust settle down.
1 Month after my RTI Omaxe officials claimed they have given their dues to DTCP and it will all be good from Aug 11 onward. In Aug 11 another investor of the project (Rishi Kalia) filed RTI and we came to know that Omaxe has done nothing and now they are asking us to wait till Nov 11.
Now the time has come for all the endusers/ Investor for omaxe New Heights to come farward and join hands togather.

I think it would be good for you to demand your money back with interest now. Take the builder to court, if he refuses to return back the money and he would be more willing to do negotiations after this.

QUOTE=djvjain;235163]I think it would be good for you to demand your money back with interest now. Take the builder to court, if he refuses to return back the money and he would be more willing to do negotiations after this.

This is the plan now. I m trying bring in some more endusers/ investors on this forum, who are facing the same heat. Right now i m in tuch with 4 of them.

I'm determin to leave no stone unturned to either get Omaxe on line :bab (58): or get our money back with interest :bab (22):

This is the plan now. I m trying bring in some more endusers/ investors on this forum, who are facing the same heat. Right now i m in tuch with 4 of them.

I'm determin to leave no stone unturned to either get Omaxe on line :bab (58): or get our money back with interest :bab (22):

ONH Meeting

I invite all the investors of Omaxe New Heights to join the meeting with Omaxe officials at Omaxe office (Kalka Ji) on 17th Sep. 2011 12.00. Time has come to stop waiting and voice our concerns. :bab (22):

Omaxe New Heights Map Approvals - Updates

1) They are open to refund applications (No written clarity on % of interest)

2) They are not in a position to fund the EDC liability without collecting from customers so they would have to go back to customer to pay the EDC to take project forward. Most of customers have already paid Omaxe 20% of the BSP if not more.


Actually speaking customer pays for edc/idc and maybe in initial stage the company thought of managing it through their cash flow but now with an increase in EDC, they seem to have given up and may not go forward without collecting from customer.I think that they are trying people to move out from the project so that they can resell with high premium as having similar project in same rate is not possible today, so getting refund doesn’t seems to be wise but On the other hand there is no guaranty that Omaxe will pay due EDC to DTCP even after they have it collected from customers.


I really seek help from other members on this.:bab (38):

Long process

This means that omaxe will first send EDC demand letters to all it's customers and also with refund options. Once it fetches the money , it would then file for revised maps approval by submitting EDC/IDC money to HUDA. Then finally HUDA will approve their revised license? I guess this is a long process would take another 6 months.:bab (6):

People who are dependent on bank funding and not willing to continue must fight for maximum interest from Omaxe. I think better to take out money from omaxe faridabad and invest in noida as rates are down currently. Any suggestions?

Hi,

Can you please help to provide the content of the letter to file the RTI? Also, to whom it should be sent?

I have to file an RTI to check on the increase in EDC for all the developed project in Faridabad.

Request you to publish the content on the forum and remove any personal information.

Thanks in advance.
pka_fbd

Take the refund with whatever interest Omaxe is giving for now. If you think interest being given is not appropriate then you can always fight for compensation (interest and damages) in consumer court.

After all builder violated the law by taking money from customer without obtaining all government approvals first.

NP projects are a bust

That's why i think NP projects are a bust. So what if it will get developed after 10-20 odd years. Every nook and corner of India will have got developed by that time. Omaxe is rather was one big name which has a pan India presence. No A class builder stepped on NP even tough land is much much cheaper there. It is not going to be an investment. Many investors will not agree with me cuz their money is involved. But please analyze.
Omaxe is deep in trouble. it has lost money in Dubai. All of its projects in India are just stuck and their re-sale is next to none. One of my friends had booked a 2 bhk ( and 2 bhk are supposed to be hot selling) in Baddi. After 4 and a half years he wants to sell it at a loss. No resale is happening. Look at their Noida project. It has been standing the same way since more than 1.5 years even when construction is 90 complete.
So , my pov is NP projects , be it omaxe or any other are not going to fetch much even in the long run. May be i said some harsh words and apologize for that.

Here you go...

Hi Rajeev,

I am requesting the copy of the letter sent by you to town country planner. Also, how much was the fees attached.

Thanks,
pka_fbd

The fee is 50 bucks. If you want to do it online here is the site. rtination - File Right to Information act (RTI) applications online : From passport/income tax/provident fund delays to fighting corruption

Hope it will help.

Omaxe New Heights Update

Omaxe finally have paid EDC to DTCP and as per latest RTI ONH plan has been sanctioned and license renewal is under consideration. :bab (22):

Many thanks to Rishi for filing this RTI.