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Fate of societies for whom builder has defaulted on land payment

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Fate of societies for whom builder has defaulted on land payment

Last updated: September 27 2019
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  • Fate of societies for whom builder has defaulted on land payment

    Request to admins: please don't merge this thread with the Society thread. This is an issue concerning scores of societies in NOIDA, and we'd want to benefit from advice from experts on this forum. Thanks!

    ...

    Very scary news today:


    https://www.outlookindia.com/newsscr...hority/1627191


    This is a fully-delivered society with almost 100% of the flats occupied. Around 50% of the flats have also been registered (sub-lease-deed) by Noida Authority.


    What are the end homeowners' rights in this case? What should we all do?


    More importantly, what's next? Are we going to lose our homes? Even the ones who have registered their properties?
  • #2

    #2

    Re : Fate of societies for whom builder has defaulted on land payment

    good thread....most of the inflight projects are in this situatio.....I’ve tried to contact to NA as well to get more details on this earlier but had no response...hope we get some help here as I’m in same boat

    Comment

    • #3

      #3

      Re : Fate of societies for whom builder has defaulted on land payment

      Originally posted by absentraveler View Post
      Request to admins: please don't merge this thread with the Society thread. This is an issue concerning scores of societies in NOIDA, and we'd want to benefit from advice from experts on this forum. Thanks!

      ...

      Very scary news today:


      https://www.outlookindia.com/newsscr...hority/1627191


      This is a fully-delivered society with almost 100% of the flats occupied. Around 50% of the flats have also been registered (sub-lease-deed) by Noida Authority.


      What are the end homeowners' rights in this case? What should we all do?


      More importantly, what's next? Are we going to lose our homes? Even the ones who have registered their properties?



      Sirji, Kyun ghabra rahey ho aap, this is standard protocol in Noida
      CEO is new and she wants to show her power to builder lobby, aur kucch nahin

      If your project has Any Under construction towers, no electricity or water supply from authority to bhi koi action honey main bahut time lagega

      If you say project is 100% complete, to aaram se baitho....yeh sab power games hain which is very common and for many years
      woh to ab News channel itney ho gaye hain, they need some story or other....kucch bhi chaaptey rehtey hain

      Authority is extremely corrupt and hand in hand with builders, kucch commitments ya dues reh gaye hongey...isliye yeh sab
      Noida extension, shahberi, jaypee, amrapali main apko kya lagta hai authority ko kucch nahin pata tha

      If ready to move.....Dont worry, this are power games

      Comment

      • #4

        #4

        Re : Fate of societies for whom builder has defaulted on land payment

        Thanks for your words of comfort, GreNoite, but it's hard to see things in a positive light. In some other cases, Noida Authority has canceled the lease of the plot itself on which a group housing society stands.

        https://timesofindia.indiatimes.com/...w/71204976.cms

        Where does it leave homeowners legally? All the sub-lease deeds become automatically null and void if the main lease between NA and the builder is canceled. "No seller can convey a title better than his own" is a basic principle of law.

        Can somebody knowledgeable throw more lights on what the homeowners' rights are here and how they should proceed?

        Comment


        • shalumani
          shalumani commented
          Editing a comment
          The question, in my opinion, is not about what rights house owners have, but if they will be implemented.

          If NA does end up cancelling the sublease because of cancellation of lease between NA and the builder, you can rest assured you are in for paying a huge bribe if the sublease is restored.

          If you want to have fun with the UP bureaucracy, go ahead and buy in such an apartment complex.

        • absentraveler
          absentraveler commented
          Editing a comment

          "If you want to have fun with the UP bureaucracy, go ahead and buy in such an apartment complex."

          80% of all apartment complexes in Noida are in the same boat. Who could have foreseen 10 years back that all the big real estate developers would fail to meet their financial obligations?
      • #5

        #5

        Re : Fate of societies for whom builder has defaulted on land payment

        Sirji this matter ia more business than anything else, Even top builders like ATS were named as defualters

        Under construction ...yes....one can worry

        Fully ready and operational....Dont worry

        Builder will sort it out

        There is not even a single case where authority cancelled lease of plot once project js 100 percent ready and occupied

        Just be carefulmof any RWA in your society who will try to use these news to make people think tjat RWA can manage society well

        Jisney yeh kiya, woh pachtaya

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