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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  • Originally Posted by miketest
    Yaar i tried the land pooling but could not form a proper group and many people advised against it as the value may go to 0 if the land comes in the way of road or other developmental activities.

    What do you suggest i do?

    it takes a hell of time -- s@la poora poora din gaao mai baithe raho - sabke suno - arre mat poocho kya kya karna pada :(( 3 pairs of shoes ke band baji tab ja kar kaam hua - sab kuch use karna pada - saam - daam - dand bhi use kiya - aur bhed to sabse pahle.

    and buy only where big guys are buying need some one in land record office they would be able to help you at the right time.

    waise he jaise agar apna banda sebi mai hai to stock mai paise he paise :D

    rohit
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  • Originally Posted by "rohit_warren

    it takes a hell of time -- s@la poora poora din gaao mai baithe raho - sabke suno - arre mat poocho kya kya karna pada :(( 3 pairs of shoes ke band baji tab ja kar kaam hua - sab kuch use karna pada - saam - daam - dand bhi use kiya - aur bhed to sabse pahle.

    and buy only where big guys are buying need some one in land record office they would be able to help you at the right time.

    waise he jaise agar apna banda sebi mai hai to stock mai paise he paise :D

    rohit


    Bas tabhi nahi chahiye. Zada paisa waise hee nahi chahiye and tension se to bilkul nahi.
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  • Originally Posted by miketest
    Bas tabhi nahi chahiye. Zada paisa waise hee nahi chahiye and tension se to bilkul nahi.

    meri majboori - naukari karta hu na - :( sal......a kahne ko 2b USD manage karta hu magar :((

    rohit
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  • Originally Posted by rohit_warren
    its open secret for last 3 years - the biggies are buying like crazy in najafgarh zone , karnal bypass and bawana area.

    I know this because my boss bought a big chunk in bawana and you know who else were there -- damaad ji, purvankara, and few builders from south.

    abhi asli drama baaki hai real estate market ncr ka - err delhi ka - bas tamasha dekho

    rohit


    ho to kuch bhi sakta hai rohit bhai ,,
    there are many people who are in Que to file case against DDA to stop launch about 7 sub city around delhi and increasing far from 200 to 400 , now the rates in unauthorized colonies near these so called zones are on there peak due to this news minimum area requirement is about 3 hectare (is about 30000 meter or 7.5 acre ) in which the builder have to give about 60 % land to dda for development of park sector roads community center and rest land will sold so it is not so easy and if this plan flops then the rates will deferentially see a sharp fall , bawana rates are increasing because of some other factors as the govt has started 4 roads projects that will make bawana connectivity better from other parts of delhi ..
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  • Originally Posted by yogesh98712
    ho to kuch bhi sakta hai rohit bhai ,,
    there are many people who are in Que to file case against DDA to stop launch about 7 sub city around delhi and increasing far from 200 to 400 , now the rates in unauthorized colonies near these so called zones are on there peak due to this news minimum area requirement is about 3 hectare (is about 30000 meter or 7.5 acre ) in which the builder have to give about 60 % land to dda for development of park sector roads community center and rest land will sold so it is not so easy and if this plan flops then the rates will deferentially see a sharp fall , bawana rates are increasing because of some other factors as the govt has started 4 roads projects that will make bawana connectivity better from other parts of delhi ..


    Hmmmm okay I shared what I knew and my boss never picks up anything which will not give 5 times returns. His pick was 2 acre land in sec 44 long back and see it in last 5 yrs.

    Lets see what happens in next 2 years in bawana

    Rohit


    Sent from my iPad using Tapatalk HD
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  • Originally Posted by yogesh98712
    ho to kuch bhi sakta hai rohit bhai ,,
    there are many people who are in Que to file case against DDA to stop launch about 7 sub city around delhi and increasing far from 200 to 400 , now the rates in unauthorized colonies near these so called zones are on there peak due to this news minimum area requirement is about 3 hectare (is about 30000 meter or 7.5 acre ) in which the builder have to give about 60 % land to dda for development of park sector roads community center and rest land will sold so it is not so easy and if this plan flops then the rates will deferentially see a sharp fall , bawana rates are increasing because of some other factors as the govt has started 4 roads projects that will make bawana connectivity better from other parts of delhi ..


    Bhai bas this was the reason I backed out coz the plan was to consolidate 2-3 acres of land, there were many partners. There were many issues though:-

    1) If no builder buys adjoining to our plot? You cannot do anything on 2-3 acres of piece.

    2) If land comes under road etc. because big builders can get plans changed if their land is coming in the way of anything but we cannot. In that case we lose 100% because muaavza they say goes to the heir of whom the land belongs to.

    3) The projections per our advisor was that the prices will get 2-3 times probably but fear of losing 100% could not get out of my mind.
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  • Offer of Possession for Fitouts - Park Floors I

    Hi All,

    I own a flat in Park Floor 1 and yesterday received a letter from BPTP titled "OFFER OF POSSESSION FOR FIT-OUTS". This seems another fraud from BPTP as this is the first time I am hearing such a thing. I believe Piyush builder had also issued letters like this and they had withdrawn after a case was filed against them.

    Did anyone else receive such a letter? If yes, I would like to hear what do you plan to do because "posession for fit-outs" is not mentioned anywhere in the Agreement.

    Also, they are asking for 40k for electricity connection charge and 100k for power backup installation charge - both of them are new charges and were not mentioned in the agreement. Seems like another way to loot people. I plan to write to BPTP but kind of know what their response will be - they will use some vague clause in the agreement to justify these charges. I don't plan to to anything with this letter but would love to hear others thoughts on what is the right way to deal with this new mess.

    Thanks in advance!
    Yogesh
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  • in my views bptp ekk bada protest mang rahaa hai '
    all the owners of plots , elite floors and villas will have to joint there hands for this cause
    as bptp has already take a huge money in the name of club and now not giving attention on this subject as per huda rules every sector has a separate club house , possision for fittouts kuch nahii hota builder ko karara jawab milna chahiyee
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  • I may be wrong, but I think majority of BPTP buyers are Investors of Big Fish category. Ppl are happily paying one after another unjustified demands. Only few % of the buyers try to resist & helplessly try to from a group & seeking support from others. Rest (Seth ji’s ) are happy with the proceedings. Majority of the End users has entered in Gfbd in last 1-2 years only. Without end users Builders can keep on playing their games. End users has the spine & can do the miracle when they become integrated. But majority of the BPTP projects are being HOLD by big bulls, who knows potential of the region & not under any financial crunch > even if some of them have appetite for new properties, they are having enough source of funds to fuel the same & hence do not required to sell out the existing one.:(
    Consider Park Floor: Booking done in 2008-- till no physical possession in sight- no agitation from the buyers, neither actively nor through blogging (this thread was almost dead & revive after some new potential buyers raised queries). Similar in Park Elite Floor, more than 5000 booking done by BPTP. In spite of, many unjustified demands, super area increase, cancelation & relocation (approximately 1500-2000 units) of allotment by the builder, you will hardly find any user in IREF (strongest RE blog of North India) complaining for the same, except one poor chap (guess who?:D:D).
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  • I agree. bptp chose to offer possession for fitouts letters even though they would be aware that Piyush tried that and it did not work. They strongly seem to believe that they are the biggest goondas and none of the laws apply to them.

    Was there a Dharna/demonstration against bptp in recent months/years? They are asking for it and we should oblige. Otherwise, there will no end to their cruelties.
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  • I had already tried to integrate 10-15 buyers of my Block when BPTP increased the Super area by 12%. I have not able to find a single another buyer who wants to join with me.
    See I am also not an End User & belong to “longtime investor” category, but I was surprised that ppl are so insensitive that, they do not care for their hard earned (or not) money at all. In fact someone has send me PM, requesting to stop raising issues with Elite Floor, else the market value will go down:bab (59)::bab (59):. One of the investor of close to my unit has also suggested (2 years back) that we should pay the additional money to the builder without any protest, as builder need fund to complete the project for our betterment:D:D.
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  • Originally Posted by sayan1556
    I may be wrong, but I think majority of BPTP buyers are Investors of Big Fish category. Ppl are happily paying one after another unjustified demands. Only few % of the buyers try to resist & helplessly try to from a group & seeking support from others. Rest (Seth ji’s ) are happy with the proceedings. Majority of the End users has entered in Gfbd in last 1-2 years only. Without end users Builders can keep on playing their games. End users has the spine & can do the miracle when they become integrated. But majority of the BPTP projects are being HOLD by big bulls, who knows potential of the region & not under any financial crunch > even if some of them have appetite for new properties, they are having enough source of funds to fuel the same & hence do not required to sell out the existing one.:(
    Consider Park Floor: Booking done in 2008-- till no physical possession in sight- no agitation from the buyers, neither actively nor through blogging (this thread was almost dead & revive after some new potential buyers raised queries). Similar in Park Elite Floor, more than 5000 booking done by BPTP. In spite of, many unjustified demands, super area increase, cancelation & relocation (approximately 1500-2000 units) of allotment by the builder, you will hardly find any user in IREF (strongest RE blog of North India) complaining for the same, except one poor chap (guess who?:D:D).

    Sayan I have no shame in admitting that I am that poor guy...

    In one's life time there are are probably 20 years period after marriage that a person enjoys for self ...rest may be for family..that golden period of 20 years one cannot give 9-10 years to BPTP for endlessly witing for something that was promised in 40 months..

    Before BPTP this type of troubling & blackmailing was unheard of.No use of mine repeating all the s*** which that company has thrown at it's buyers..I always knew of these demands would come for Park Floors so better not to take control of this project & let my friend handle it..

    Hypocrisy is the by game which we all play..RTI,Chasing HUDA/DTCP, agitations all come to a big zero when BPTP is concerned..

    Piyush Director can go to jail for asking money for fitouts..Why not BPTP??

    The veterans of this area are all fans of BPTP because the area price has ultimately increased..

    We had formed groups & tried to pressureise BPTP..got some individual relief also but BPTP has completely ruined the faith of end users,,

    When SRS can give possession with projects which are less approachable then why not BPTP?No body has answered this question & nor anybody is interested..

    whenever I think of my past suffering owing to BPTP..I get really upset..

    i have told this earlier also but I almost lost my mother as my retired parents had to shift to village because even after 6 years BPTP didn't give possession..No amount of premium can reduce my pain..

    Rest still I pray that all should get possession of their booked property..

    Greater Faridabad as an area had my support always..but BPTP ruined it
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  • Originally Posted by dkppatiala
    Sayan I have no shame in admitting that I am that poor guy...

    In one's life time there are are probably 20 years period after marriage that a person enjoys for self ...rest may be for family..that golden period of 20 years one cannot give 9-10 years to BPTP for endlessly witing for something that was promised in 40 months..

    Before BPTP this type of troubling & blackmailing was unheard of.No use of mine repeating all the s*** which that company has thrown at it's buyers..I always knew of these demands would come for Park Floors so better not to take control of this project & let my friend handle it..

    Hypocrisy is the by game which we all play..RTI,Chasing HUDA/DTCP, agitations all come to a big zero when BPTP is concerned..

    Piyush Director can go to jail for asking money for fitouts..Why not BPTP??

    The veterans of this area are all fans of BPTP because the area price has ultimately increased..

    We had formed groups & tried to pressureise BPTP..got some individual relief also but BPTP has completely ruined the faith of end users,,

    When SRS can give possession with projects which are less approachable then why not BPTP?No body has answered this question & nor anybody is interested..

    whenever I think of my past suffering owing to BPTP..I get really upset..

    i have told this earlier also but I almost lost my mother as my retired parents had to shift to village because even after 6 years BPTP didn't give possession..No amount of premium can reduce my pain..

    Rest still I pray that all should get possession of their booked property..

    Greater Faridabad as an area had my support always..but BPTP ruined it


    Dear DKP,
    I my post is about malpractices of BPTP in Park Elite floor & I thought I m the only poor chap in Elite floor, having problem with BPTP.
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  • Originally Posted by ykmadaan
    I agree. bptp chose to offer possession for fitouts letters even though they would be aware that Piyush tried that and it did not work. They strongly seem to believe that they are the biggest goondas and none of the laws apply to them.

    Was there a Dharna/demonstration against bptp in recent months/years? They are asking for it and we should oblige. Otherwise, there will no end to their cruelties.


    sayan and madaan,

    i do understand excess charges issue, but what is the issue with the "offer of possession" thing, i mean isnt this a standard process, btw there are some end users like me who have joined now and will take things up as and how it arises, and we can discuss this together so lets start - this was the reason i had started the PF1 thread some time back to assemble and resolve
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  • Originally Posted by jthakar
    sayan and madaan,

    i do understand excess charges issue, but what is the issue with the "offer of possession" thing, i mean isnt this a standard process, btw there are some end users like me who have joined now and will take things up as and how it arises, and we can discuss this together so lets start - this was the reason i had started the PF1 thread some time back to assemble and resolve


    Jthakar ji,
    Offer of Possession is a std practice, but Fit-out possession is illegal. Builder can't explore new terms to loot the investor's. Top Managements of one of the Builder of G FBD was behind the bars, for quite sometime because of active protest from the buyers for issuing Possession for Fit-out letter.
    I m really looking for the information that how many of the stake holders of PF-1 has agreed to join hands to protest against BPTP at Gurgaon office.:):)
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