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- Hey wanted to check something on Builder eligibility on penalty for delay.
I made my first payment during soft launch in Jan 2013. I have an allotment letter dated June 2013. The BBA was signed in Sept 2013(40% Payment). But the block was not approved. I was told about this issue when I could not get loan against the block unit.
The new Approval was got in Aug 2014. They changed Super Area(decreased). They Gave a new BBA in Dec 2014. Till this time they have taken 75% payment against the new Area from me.
Now they are saying they will calculate 30 months from Dec 2014. So I am eligible for penalty from Dec 2017. Almost 5 years after I made my first payment. Is this correct? if not what's the best way to resolve the issue.CommentQuote0Flag
- Late delivery, occupancy papers on panel radar
Noida: Noida Authority officials on Thursday visited three group housing societies as part of their ongoing drive to check violations of building plans.
Officials visited AVS Orchards in Sector 77, Unitech Homes in Sector 117 and Amrapali Platinum in Sector 119. Developers of all the three societies were asked to observe timelines for completion of projects and putting in place facilities promised to homeowners.
According to officials, the team led by chief architect planner S C Gaur spent the afternoon listening to issues of homebuyers. Gaur said, "We first visited AVS Orchards in Sector 77. With five blocks, the society building is almost complete. However, the developer has failed to give possession to homeowners despite promising to do so in 2014. The developer is also yet to take the completion certificate for the project."
"The developer has promised to hand over possession in six months, before Diwali," Gaur said.
The next stop of the team was Unitech Homes. "This society has also not yet obtained the completion certificate from the Noida Authority. There are 27 towers of which only 14 are nearly complete. There are very few occupants in these towers. Fire safety measures and lifts not yet in place," he said.
"So we have asked the developer to complete the facilities and obtain the part-completion certificate of the 14 towers from us within three months so that more residents can move in."
The last society visited was Amrapali Platinum in Sector 119. "Almost 80% of this society was occupied with nearly 500 families living here. However, this group housing society also did not have a completion certificate," he said.
"Out of the eight towers, two did not have facilities such as lifts and fire safety features. Since the developer's representatives were not present, we have asked them to meet us on Monday. We will then ask them to give us a deadline for completing all the work," he said.
Gaur said they would continue with their inspections until all the projects facing varied issues are covered. "The aim is to get home owners to get their residential units at the earliest and resolve all issues. Homebuyers who are facing problems can get in touch with us," he said.
Late delivery, occupancy papers on panel radar - Times of IndiaCommentQuote0Flag
- Home-buyers to benefit as Noida speeds up occupation certificates | noida | Hindustan Times
The eight projects to get Occupation Certificates, provided the respective builders furnish required documents, are Exotica Fresco and Paramount Floraville in sector 137, Paras Seasons in sector 168, Gulshan Ikebana in sector 143, Prateek Stylome in sector 45, Sunshine Helios in sector 78, Antriksh Golf View sector 78 and phase I of Logix Blossom County in sector 137.CommentQuote2Flag
- Noida authority to put names of defaulter builders online
Vinod Rajput, Hindustan Times, Noida | Updated: Apr 28, 2016 01:34 IST
The Noida authority has issued occupation certificates to 38 group housing projects between August 25, 2015, and March 10, 2016. (Representative Photo)
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The Noida authority on Wednesday said it will upload details of all defaulter builders on its website. The step is being taken to benefit homebuyers, who end up investing in debt ridden projects, officials said.
The decision came after homebuyers, troubled by delay in delivery of flats, began staging frequent protests.
The details will be uploaded on Noida Authority Online.
Homebuyers have been for long demanding that the authority upload builders’ project details online.
“Today, the group housing department provided details on realty projects to be uploaded on our website. The agency working with us is busy uploading these details first. We will also upload details of defaulter realtors once the group housing and finance department send us a list,” said Saumya Srivastava, deputy chief executive officer (DCEO) of the Noida authority.
The Noida authority has issued occupation certificates to 38 group housing projects between August 25, 2015, and March 10, 2016.
“The move comes too late. The authority should have done this much earlier so that buyers could have stayed away from builders who have debt ... Uploading the list would help new buyers,” said Sukumar Das, who was supposed to get a flat in Sector 70 in 2012 but is still waiting for it as the builder did not have funds to complete it.
Builders need to pay Rs. 7,200 crore to the Noida authority that had land for group housing on an instalment basis between 2006 and 2009.
“Around 50 realtors, who need to pay dues, have applied to my office. These 50 builders will pay 10-15% of total dues now and the remaining in instalments,” said Manmohan Mishra, financial controller (FC) of the Noida authority.
Realtors, however, feel the authority’s move is a wrong step at the wrong time.
“Realtors are facing a huge financial crisis due to the slump in the market. The authority should bring schemes that help builders in coping with the ongoing crisis. Putting the list online will only create more trouble,” said Anil Mithas, CMD of a realty firm Unnati Fortune Group.CommentQuote0Flag
- Real Estate Bill is an act now, may protect home buyers
NEW DELHI: The Real Estate (Regulation and Development) Bill, 2016, became an act on May 1, kick-starting the process of making rules as well as putting in place institutional infrastructure to protect the interests of home buyers in India.
Read more at:
Real Estate Bill is an act now, may protect home buyers - The Economic Times
Real Estate Bill is an act now, may protect home buyers
By Ravi Teja Sharma, ET Bureau|CommentQuote1Flag
- Realtors, Noida officials to discuss homebuyers’ woes
The Noida authority on Monday decided to call a meeting of realtors in Noida to discuss issues faced by buyers. The authority has asked the confederation of real estate developers association of India (CREDAI), a realtors’ body, to attend the meeting at 11:30am on May 11 at the authority’s Sector 6 office.
Read more at:
Realtors, Noida officials to discuss homebuyersCommentQuote0Flag
- Projects in Noida Sec 107 stuck, buyers meet senior officers
The buyers' group has launched a fresh protest under the banner of "justice delayed is justice denied"
NOIDA: Even as a Supreme Court decision on the land acquisition of Sector 107 remains pending, with a review petition being heard at the Allahabad high court, a group of homebuyers on Monday urged senior officers of the Noida Authority to intervene in the issue. The Authority officers called a meeting with the protesting buyers on May 4.
The buyers' group has launched a fresh protest under the banner of "justice delayed is justice denied".
In a letter submitted to the Noida Authority on Monday, the buyers have also demanded that construction at the site be commenced immediately.
The Sector 107 buyers sought the Authority's intervention to facilitate the possession of 800 of the 5,000 apartments, payments and procedures for which had been completed before the high court ordered a stay on construction in 2014. The projects located in Sector 107 are Lotus 300, Amrapali Heartbeat City and Great Value Sharnam. The Supreme Court order had quashed the acquisition of 225 hectares land in Sallarpur Village of Gautam Budh Nagar, where Sector 107 is located, in 2013.
"Even as the acquisition issue is pending with the judiciary, we are requesting the Noida Authority to intervene, so that those apartments which were completed by 2014, are handed over to the buyers," This is because the order had only brought to a halt any construction activity that was still in progress. That clearly puts at least 800 apartments out of that order, legally," said Puneet Parashar, one of the key leaders of the Sector 107 buyers' group.Claiming that they were distressed over the delay in the court's decision on the land acquisition, the buyers have been running a hashtag on social media to draw the attention of the state government to the issue.The buyers bought the flats in 2010-11 in Noida's Sector 107 (Sallarpur village). The Noida Authority acquired land in the year 2008 -2009 under an urgency clause of the Land Acquisition Act which was challenged by the farmers, first in the Allahabad high court and then in the Supreme Court. The apex court quashed the acquisition in an order on August 5, 2013. In fact, the SC cancelled not just the 225 hectares of acquired land, but also the entire notification concerning Sallarpur village. But the construction continued in full swing even after the order.
The builders moved the SC for a review of the order. The SC then sent the case back to the Allahabad high court for a review. In June 2014, an Allahabad high court order stopped all construction in Sector 107 and imposed status quo. The projects have been hanging fire ever since.
"The Supreme Court in August 2013, declared the land acquisition illegal. However it was only brought to public attention when the Allahabad High Court passed a judgment in June, 2014. Construction in the housing project first slowed down and then completely stopped. Owners were kept in the dark about these developments with no notice given by either Noida Authority or the builders. RTIs filed were ignored and those answered were diverted to different departments," Arun Kalra, another buyer mentioned.
The next hearing of the case is pending with the Allahabad High Court on May 15.
Projects in Noida Sec 107 stuck, buyers meet senior officers | ET RealEstateCommentQuote0Flag
- guys I am finalizing prateek ediffice after lot of deliberation and visiting entire noida (it seems).....i have already got a deal but want to understand what should be AI price (indicative), so that can negotiate on that . I am talking about size 3300. Anybody who has done any deal recently will definately help. Getting very varied rate from the markets.CommentQuote1Flag
- Originally Posted by unfazedguys I am finalizing prateek ediffice after lot of deliberation and visiting entire noida (it seems).....i have already got a deal but want to understand what should be AI price (indicative), so that can negotiate on that . I am talking about size 3300. Anybody who has done any deal recently will definately help. Getting very varied rate from the markets.
What's the average rates you are getting?CommentQuote0Flag
- Anything between 6200 to 6500 AI depending on floorCommentQuote0Flag
- One is quoting 6k as well but not sure as all rates by brokers.CommentQuote0Flag
- If fresh deal is around the same price and you are getting the unit of your requirement, that's a bit less cumbersome deal, resale is always dicey.CommentQuote0Flag
- Originally Posted by mayank260287If fresh deal is around the same price and you are getting the unit of your requirement, that's a bit less cumbersome deal, resale is always dicey.
Price difference is there but around 4/5% . So may be fresh booking might be a better deal as no surprises at the time of final payment. I agree quoted price and actual price may be different when you meet actual sellerCommentQuote0Flag
- Originally Posted by unfazedPrice difference is there but around 4/5% . So may be fresh booking might be a better deal as no surprises at the time of final payment. I agree quoted price and actual price may be different when you meet actual seller
Wht is the fresh deal you getting from builder. Prateek seems to hv made a good reputation by now and heard the construction quality of edifice is good.CommentQuote0Flag
- Pay maintenance or face disruption of services, Amrapali Group tells residents
Vinod Rajput, Hindustan Times, Noida | Updated: May 06, 2016 00:56 IST
Residents said that they are not paying common maintenance charges because the realty firm failed to complete the project within the 2011 deadline
Realty firm Amrapali Group has issued notice to residents of its Sapphire housing society warning them to either pay the common maintenance charges or face disruption of services. According to the realty firm, around 850 residents living in the incomplete Sapphire society have not paid over Rs14 crore maintenance charges for the last three years.
Residents said that they are not paying common maintenance charges because the realty firm failed to complete the project within the 2011 deadline.
“In 2014, Amrapali Group CMD Anil Sharma signed an agreement with us that residents will not pay maintenance charges until pending work is completed,” Sanjiv Arora, a buyer, said. The realty firm said it is spending Rs 30-40 lakh per month on sanitation, lift, power backup, security and other common facilities. “We are levying Rs 2 per sqft as common maintenance charge. If residents do not pay, security, housekeeping and other agencies will stop services. We are amicably trying to convince them to cooperate and pay as it will help the realtor complete remaining work.
We need funds to run our services,” Nishant Mukul, director (technical) with Amrapali Group, said.
Residents said that the realty firm had promised to charge them only when lifts and common facilities become operational. “How can a realtor levy common maintenance charges on residents before occupancy certificate is obtained?,” RK Batra, a homebuyer, said. “Maintenance issue should be decided by the builder and buyer,” SC Gaur, chief architect and town planner of Noida, said.CommentQuote0Flag