I had applied for the flat in BPTP Park floors Sector 76 faridabad in Aug 2008.

I applied the flat and paid the basic amount of Rs. 4 lack but after that did not make any payment because I wanted to take loan and when approached LIC and HDFC bank for loan they said that the project is still not approved and the disbursement will not happen. The project was not approved for loan from bank till march 2011 but BPTP was continuously Sending the demand letter stating that any delayed payment would be charged with the interest of 18% .

I did not make any payment after the initial amount of Rs. 4 lack because the project did not have the loan disbursement approval and did not wanted to block my cash hard earned money any more.
Now when I approached bank , they are ready for the sanction and disbursement of the loan as the project is approved.
BPTP is charging 18% interest from the customers who have not given the sanction letter from the bank even though the disbursement did not happen for anyone and the sanction letter provided by anyone in 2008 or 2009 does not have any validity now as it is expired and they have to get the sanction letter again.



In short our points of contention are the following:
1. How can they charge the interest when they only recieved the approval for this project in March 2011.

2. Can they demand the construction linked payment untill they deliver the project as promised ie. on the 60mtr approach road as they are completely taking their customers for a big ride by delivering a project without any proper link to the project site.

3. Can they charge interest for the period when the project was not approved.

4. Can they charge interest from a customer who did not gave the sanction letter from bank and not charge the interest from the customer who gave the sanction letter ( Although none of the customer made the payment because the bank did not release the payment).

5. They are threatening to cancell the booking without refunding the payment of Rs 4.5 lakhs which we had initally made at the time of booking if we do not make the complete payment of Rs 15 lakhs + the interest amount of Rs 4.5 lakhs additionally ( 18% per annum from Aug 2008) by the 13th of June.

6. The total amount of the apartment at the time of booking was Rs 20 lakhs. We visited the site and found that untill now there is no sign of the approach road and also only the structure has been laid so far ( only the brick work) and they have already demanded an amount of Rs 24 lakhs inclusive of the interest charges failing which they claim they will cancell our apartment with no refund.

7. Can we ask them for a refund of our 4.5 lakhs along with an accrued interest as they have not only delayed the project, sold without any sanctioned approvals but are also suggesting to now handover the project in 6-9 months without any proper connecting road. Therefore they are totally cheating their customers.

Looking for the advice for further action and information.

Regards,
Surabhi Nayyar
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  • From a distressed customer of BPTP

    Work Progress Of BPTP Units of P4 Row
    Date of Booking 6-Jun-09
    Brickwork demand date 30-Dec-10
    Time taken during this demand 19 Month
    Demand Raised From 6 Jun 09 to 30 Dec 2010 85% Of Total value
    Demand Note raised since 30-Dec-10
    Month since demand not raised 22

    • It show that only in 19 month BPTP complete 90% work of unit, which include booking period also.
    • The demanded 90% of total value from us in these 19 months.
    • But since 22 months they have not complete only 5% work from remaining 10% work.
    • It show that they have taken major amount from us and now are not worried to complete the units.
    • It show that deliberately they are doing the delay in completing these units.
    • This is against the ethics, this is a cheating to the customer.
    • Our 20 lacs is laying ideal with BPTP since 22 months, for this we are paying EMI to bank.
    CommentQuote
  • NOV 12 Sector 76 Floors

    Hi
    Greetings

    Construction Update by BPTP on its Website Nov 12













    Licence Details

    DGTCP Haryana has granted M/s Countrywide Promoters (P) Ltd. license no. 1042 to 1061 dated 25/07/06 and 275 of 2007 dated 06/12/07 for development of group housing over 57.40 acres. The total no. of flats approved are 792 (including EWS) & the building plan is approved vide no. ZP-192/JD(DK)/2010/15767 on 03/11/2010. There is a provision of 1 high school, 1 dispensary & shopping area. Note- Approvals can be checked in the colonizer's office

    Fianancing

    http://www.bptp.com/bptp/images/ParkFloorsProjectApproval.pdf

    Status of Licence as per DTCP Oct 12

    Year Lic No Date Developer Name Purpose Area Dev Plan SECTOR Colony Name Valid Upto/ Renewed upto
    2006 1042-1061 25/07/2006 Countrywide Promoters . GH 55.98 FARIDABAD 76 COUNTRYWIDE FAR-76 RGH 24/07/2011
    2007 275 06/12/2007 Countrywide Promoters . GH 2.89 FARIDABAD 76 COUNTRYWIDE FAR-76 RGH 5/12/2009

    All sets to be delivered, reasonably finished. Hiccup is the license has expired and renewal, payment of dues, OC may take 6+ months, as it appears from the face of it.

    Cheers5/12/2009

    All sets to be delivered, reasonably finished. Hiccup is the license has expired and renewal, payment of dues, OC may take 6+ months, as it appears from the face of it.

    Cheers5/12/2009

    All sets to be delivered, reasonably finished. Hiccup is the license has expired and renewal, payment of dues, OC may take 6+ months, as it appears from the face of it.

    Cheers
    CommentQuote
  • subvention scheme at 3800/- is on offer for this project from company on park floor-II. Would request experts to advice on this project. Total cost for 1170 sqft unit is coming at 52 Lacs...what is the likely date of possession?
    CommentQuote
  • Originally Posted by BlessU
    Hi
    Greetings

    Construction Update by BPTP on its Website Nov 12













    Licence Details

    DGTCP Haryana has granted M/s Countrywide Promoters (P) Ltd. license no. 1042 to 1061 dated 25/07/06 and 275 of 2007 dated 06/12/07 for development of group housing over 57.40 acres. The total no. of flats approved are 792 (including EWS) & the building plan is approved vide no. ZP-192/JD(DK)/2010/15767 on 03/11/2010. There is a provision of 1 high school, 1 dispensary & shopping area. Note- Approvals can be checked in the colonizer's office

    Fianancing

    http://www.bptp.com/bptp/images/ParkFloorsProjectApproval.pdf

    Status of Licence as per DTCP Oct 12

    Year Lic No Date Developer Name Purpose Area Dev Plan SECTOR Colony Name Valid Upto/ Renewed upto
    2006 1042-1061 25/07/2006 Countrywide Promoters . GH 55.98 FARIDABAD 76 COUNTRYWIDE FAR-76 RGH 24/07/2011
    2007 275 06/12/2007 Countrywide Promoters . GH 2.89 FARIDABAD 76 COUNTRYWIDE FAR-76 RGH 5/12/2009

    All sets to be delivered, reasonably finished. Hiccup is the license has expired and renewal, payment of dues, OC may take 6+ months, as it appears from the face of it.

    Cheers
    looks good...
    looks good...
    looks good...
    looks good...
    looks good...
    CommentQuote
  • Hi
    Greetings

    Looking at the development, it looks done..
    Progress of master roads as understood is promising (can someone confirm)
    furthermore, bptp has recently renewed its license for about 280 acres of Plotted license in 75/76 sector.
    https://www.indianrealestateforum.com/forum/other-forums/general-real-estate-discussion/183-rent-or-buy?p=116439#post116439

    All the above are positive developments for those invested and looking to move in their homes. Crucial thing is does anyone have any news of ews allotment for floors, villas, plots in 75/76??

    If this can be confirmed, projects in these sectors seem to be good to go.
    this would add another good no of units coming into the market for enduse.

    Cheers
    CommentQuote
  • Hello All,

    Need your precious opinion; I'm looking for 2 BHK in this project, could you please suggest what if this is good project from end user perspective?
    CommentQuote
  • Originally Posted by universal
    Hello All,

    Need your precious opinion; I'm looking for 2 BHK in this project, could you please suggest what if this is good project from end user perspective?

    it is just next to commercial sector so its value would be increasing both in terms of prices and livability

    rohit
    CommentQuote
  • master road is ready to use till era fllors ,park floors , and sector 75 and canal road is also black carpeted and now in a very good condition bptp is also black carpeting internal road and also fixing yellow and black speed breakers . have a look
    Attachments:
    CommentQuote
  • Bless u your last assessment was 6 months..what is scenario 4 months down the line...

    Now that master road has also reached here what should be the expected price..I want to sell my unit here...
    CommentQuote
  • Originally Posted by dkppatiala
    Bless u your last assessment was 6 months..what is scenario 4 months down the line...

    Now that master road has also reached here what should be the expected price..I want to sell my unit here...


    Hi
    Greetings

    My quoting 6 months meant possession possible IF OC is applied. Those invested should file RTI to know if any such OC has been filed and its outcome. If inspection is ok or not.

    Expecting a revert from BPTP is useless.. Only answer is we are progressing and things are UNDER PROCESS.

    Rates could have jumped by 20-30% by now, had possessions been offered given the improved connectivity.

    Cheers
    CommentQuote
  • On my visit i realized that area would see good appreciation...

    Layout of park floors is strange..second fllor & third floor residents have an extra balcony in bedroom..

    Second floor balconies are wall while others have grilled balconies..I do not understand that logic..asking rate was 10 lacs premium...

    we have decided to wait for now...

    Room sizes are ok..Next to next door is the plus point..

    Next door few property dealers have already opened their shops.BPTP marketing office is also opening...
    CommentQuote
  • Originally Posted by rohit_warren
    it is just next to commercial sector so its value would be increasing both in terms of prices and livability

    rohit


    Thanks Rohit.... (better late than never)
    CommentQuote
  • Any idea about rates for Park Floor 1, I'm willing to sell mine! The brokers say about 10-12L premium. I can hold for few months if there is any further potential for appreciation.

    please suggest...
    CommentQuote
  • Originally Posted by universal
    Any idea about rates for Park Floor 1, I'm willing to sell mine! The brokers say about 10-12L premium. I can hold for few months if there is any further potential for appreciation.

    please suggest...


    defenetly u have to hold for more 6 months as the connectivity is going to be super from bptp bridge sector 78 - 79 dividing road is ready to use and sector 82- 79 construction is also on a good speed :):)
    CommentQuote
  • Originally Posted by yogesh98712
    defenetly u have to hold for more 6 months as the connectivity is going to be super from bptp bridge sector 78 - 79 dividing road is ready to use and sector 82- 79 construction is also on a good speed :):)


    Thanks Yogesh, appreciate your inputs. I think I can hold for few months. Haven't been onsite so not much aware of ground realities in terms or road infra etc.

    let's hope this turns out to be good...
    CommentQuote