Supreme Court’s order regarding the refund on affected projects in Noida Extension’s Shahberi Village has come as a relief for many buyers. It has said that the affected buyers are entitled to refund with full interest. However, most builders claim that they have not received many applications from buyers for refund. The SIX affected builders are saying the following :
MAHAGUN : Mahagun claims that they have shifted 50% of their buyers from Mahagun Myra project in Shahberi. Those seeking refund can get their money with interest although the rate of interest was not disclosed.
SUPERTECH : Builder claims that it has received only 10 applications for relocation to other projects so far and no one is seeking refund. They will begin notifying the affected buyers from Thursday and those who seek refunds will get entire amount with interest within 10 days after their application are received. Project affected is Eco Village II.
AMRAPALI : Company claims that it has shifted 3500 buyers from its Smart City Housing project to its Green City project while 30 odd buyers who had sought refunds have been paid back. Anand Sharma, CMD, said that those who have decided to take refunds, the company is returning the entire amount including the interest and service tax from its own account.
PANCHSHEEL : 12 out of 19 towers of Panchsheel Green’s are affected by SC order as they fall in Shahberi Village. Company said that they had bookings for only 124 flats in the affected towers and have already shifted 50 of the investors to other safe towers or to Panchsheel Hynish project.
GULSHAN HOMZ : Gulshan Nagpal, CMD, said that the company is willing to return money with interest to clients whose flats lay in Shahberi Village. The developer did not reveal the number of applicants that were affected in Gulshan IHomz.
GAURSONS : Company has a large project of 10,000 houses in Haibatpur Village. The villagers have gone to court for litigation and investors are anxiously waiting for the outcome but they have not sught refunds or relocation.
AJNARA : The company is building 255 flats in Noida Extension area as part of its Le Garden project. But there is no response from the company when trying to contact them.
TOI has started an initiative for buyers affected due to SC order in Noida Extension. If you are an affected buyer and face problems in getting refund, you may write to them at firstname.lastname@example.org
SOURCE : Times of India