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M Tech Developers, Gurgaon

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M Tech Developers, Gurgaon

Last updated: April 8 2015
35 | Posts
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  • #31

    #31

    Re : M Tech Developers, Gurgaon

    My 10.0 lacs are stuck with them in M-Tech camellia garden bhiwadi for a 300 sq yd Villa since 2010. I can see some progress in there project but no one from Mtech is ready to talk abt there villa project. Their reply is that they have taken stay on this project.
    Any suggestions for the future like I should hold or get out of this. If so then how to get my money back with intrest.

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    • #32

      #32

      Re : M Tech Developers, Gurgaon

      Originally posted by sherawatajit View Post
      My 10.0 lacs are stuck with them in M-Tech camellia garden bhiwadi for a 300 sq yd Villa since 2010. I can see some progress in there project but no one from Mtech is ready to talk abt there villa project. Their reply is that they have taken stay on this project.
      Any suggestions for the future like I should hold or get out of this. If so then how to get my money back with intrest.
      The last, i know, at least one of their directors was behind bars for the frauds they have been committing .

      As per my understanding, many people had sought refund & a few lucky one's did get a refund ( i am one of them ) . What i know is that the Builder was on the verge of declaring bankruptcy & People who's money is still stuck up may land in big trouble .

      Please note that my information is not updated & i could be wrong here . Do check for the latest position & act accordingly .

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      • #33

        #33

        Re : M Tech Developers, Gurgaon

        Thanks Manoj

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        • #34

          #34

          Re : M Tech Developers, Gurgaon

          They will never declare bankruptcy , THey have a backing of ANS constructions which is rock solid financially , THey are just buying time from people , they have returned money to most of their investors , File a case with EOW or offer ur lawyer 10/20% of whatever he can get u from mtech along with interest

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          • #35

            #35

            Re : M Tech Developers, Gurgaon

            Dear Mr Bhalla,
            I am in sync with your observations.
            However, can you guide us in the process of filing case with EOW, as I believe there may be already several cases lying with them for this fraud builder. Is there any possibility that there may be a group case for this, where we can also join in so that the things can be expedited??
            Further, I will be open for hiring some lawyer for this issue, with these terms.. can you please guide us to a tried & tested lawyer for this case?? this will be of great help..
            Thanking you in advance
            Saurabh

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            • #36

              #36

              Re : M Tech Developers, Gurgaon

              Builder told to refund homebuyer

              Builder told to refund homebuyer - The Times of India


              GURGAON: The consumer forum of Gurgaon has directed a Delhi-based real estate firm to refund Rs 4.25 lakh to a buyer who had purchased a flat in Bhiwadi.

              In an order passed on March 20 by consumer court judge Raj Kumar Tewatia, Mtech Developers was found guilty of breach of contract with Ashok Yadav, a resident of Baslambi in Gurgaon. Yadav had made a payment of Rs 4.25 lakh in April 2007 as booking amount for a plot in Phase 1 of Camellia Garden in Bhiwadi. He had sought a refund when the builder did not allot the flat after more than two years. The company had agreed to refund the money in eight equal instalments but it stopped making payments after three instalments. Yadav moved the court in 2009 seeking balance payment of of Rs 2.65 lakh.

              In the reply to the court's notice, the builder had denied the charges and also questioned the jurisdiction of the consumer forum on the ground that the developer's office is located in Delhi. But the forum rejected the builder's plea on the ground that the complainant was based in Gurgaon and hence, he was entitled to file a complaint here.

              "The opposite parties have adopted unfair practices by not refunding entire amount. Complainant is entitled to refund of balance of Rs 2.65 lakh along with interest at 9% from date of deposit till realization. Complainant is awarded Rs 30,000 compensation for harassment and mental agony. He is also entitled to litigation expenses of Rs 11,000," the order read.

              The compliance is to be made within 30 days failing which complainant is entitled to interest at the rate of 12% per annum, ordered the judge.
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