Will builders return the money?

Projects which have no CLP plan and builders are collecting money on time based manner....if I am correct there are few projects in Noida Extension who have no CLP plan but time based manner...every six months they have to pay certain amount. In such cases, builders have accumulated money from innocent buyers, have not built much, projects have been stopped.... now Supreme Court orders builders to return money to the buyer... will builder pay to buyer forget the interest....Principal amount itself is in doubt. What the buyer should do now? He has nowhere to go. Supreme Court's order to builder is not complete...return money ...but when ...six months, 1 year ..or any indefinite time..starting with small installments..., huh?

From where the money come?
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  • Originally Posted by Gagan Singh
    come on, do you still think farming is possible on that land? do you still think farmers really want to do farming? do you still think builder are going to make that land again ready for agriculture before leaving? These all are just the ways of asking for compensation. And that is the only solution. Some more compensation after negotiation and things back to normal.


    Hope any solutions comes ASAP, but at least now there is no harm to keep very close eye on each & every thing. And for end users there must be a clear timeline defined like 1 Month , 2 Month.... . I suggest for buyers not to believe on builders with out any fix timeline because if any more HC / SC decision comes against builders then lots of small builders can declare himself bankrupt and only End user will suffer then. I can believe on anyone but not on Builders lobby at all. Already builder lobby has made common men lots of fool.
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  • Originally Posted by StudRawk
    Dear Lchand,

    Any update for today from NA side.

    I saw on news channel, they are saying to sort out the problem in 15 days. but i wonder if farmers as they are planning to move court on Monday.

    not yet...But NA & builders should talk with farmers now only n let them not go to the court...if this goes to the court...things might worsen...
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  • Originally Posted by saurabh2011
    Hope any solutions comes ASAP, but at least now there is no harm to keep very close eye on each & every thing. And for end users there must be a clear timeline defined like 1 Month , 2 Month.... . I suggest for buyers not to believe on builders with out any fix timeline because if any more HC / SC decision comes against builders then lots of small builders can declare himself bankrupt and only End user will suffer then. I can believe on anyone but not on Builders lobby at all. Already builder lobby has made common men lots of fool.


    Yes Correct. And I liked the idea of NE buyers to form association. They can raise their voice.
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  • Originally Posted by Gagan Singh
    Yes Correct. And I liked the idea of NE buyers to form association. They can raise their voice.


    Idea is really rocking but again whatever we have seen about this association let me know clearly till date against whom they have raised voice. I means to say against HC/SC decision , against Builders , against Authority. If you really have seen all stands of this association till date then please clearly define their stand here. Till date I only see 1 stand from this association in each & every news channels "We do not want our money back, we want our flat constructed" that's all. Is only this stand is satisfactory??? or they should make more versatile their stand, specially Khul ke bolo against Builders / Authority. Builder to hamesha bolega ki he is innocent and usee kuch nahe pata tha, but all of us know that builder know each & everything but not let know the buyers before booking (not from any single person or brokers).
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  • One suggestion:

    Read it: BE POSITIVE: We listen in our life very frequently. But, decesion of HC and SC is going to be same. Except now, they can order to builders to refund with interest in direct form or else through GNA. Which is technically a long task. Solution of this problem could be only OUT OF COURT settlement. Builders and GNA rightnow trying to take advantage of innocent buyers by putting guns on their shoulders. Best Go to villages and contact some farmer leaders, Builders, GNA.. Arrange a meeting next SAT or SUN. Also inform farmer leaders that they should come with their DEMANDS. Meeting is more from buyers side but, we are also inviting Builders and GNOIDA Authority. Also Invite all Media person. Discuss issue OPENLY about their Demands. Once SC order is out nothing can be done because it will not be easy to deal with GNA and Builders. Also six months delay project will cost all of us 1 lakhs rupee extra as 20 lakhs rupee loan on an average: 1 year interest is around 2 lakhs. Look on economics. DO NOT POLITICISIZE THE ISSUE ELSE IT WILL GO AGAINST US!! DEMAND FOR FLAT AND ACTION AGAINST CULPRIT BUILDERS AND GNA. Tell to channels directly we are not investors we are buyers.
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  • Originally Posted by saurabh2011
    Idea is really rocking but again whatever we have seen about this association let me know clearly till date against whom they have raised voice. I means to say against HC/SC decision , against Builders , against Authority. If you really have seen all stands of this association till date then please clearly define their stand here. Till date I only see 1 stand from this association in each & every news channels "We do not want our money back, we want our flat constructed" that's all. Is only this stand is satisfactory??? or they should make more versatile their stand, specially Khul ke bolo against Builders / Authority. Builder to hamesha bolega ki he is innocent and usee kuch nahe pata tha, but all of us know that builder know each & everything but not let know the buyers before booking (not from any single person or brokers).


    I think end user already understand very well, itna sasta flat poore NCR mai nahi milega and why not , buyers should ask this after all they understand the dirty game and also in (( Finally )) ab joh ho fir khul ke ho.
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  • Originally Posted by saurabh2011
    Idea is really rocking but again whatever we have seen about this association let me know clearly till date against whom they have raised voice. I means to say against HC/SC decision , against Builders , against Authority. If you really have seen all stands of this association till date then please clearly define their stand here. Till date I only see 1 stand from this association in each & every news channels "We do not want our money back, we want our flat constructed" that's all. Is only this stand is satisfactory??? or they should make more versatile their stand, specially Khul ke bolo against Builders / Authority. Builder to hamesha bolega ki he is innocent and usee kuch nahe pata tha, but all of us know that builder know each & everything but not let know the buyers before booking (not from any single person or brokers).

    bhai builders were well aware of all this situation....Gaur builder (whose projects are not affected yet as information to me) has mentioned in the BBA, allotment letter and in application form too..regarding compensation to farmers if any in future shall be paid by buyer.... so builders were well aware of this. Buyers in NE projects should carefully read the BBA and see this clause must be there.
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  • Noida Extension : Bankd dump buyers, builders seek their pound of flesh.
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