Dear Sir,
I booked an apartment in Unitech Verve, Greater Noida in Dec 05, with possession promised in Dec 08. The project is still not ready with management now estimating June 2010 as the possession date. Unitech is taking its customers for granted without realising that people have invested their hard earned money in this project. This is simply ridiculous and strict action must be taken against the company.
Unitech management is down playing the entire situation by saying that they will compensate the customer with INR 5/ sq.ft as damages, which works out to a penal interest of just 2% p.a. on the property cost of INR 3000/sq.ft. Whereas, if the customer defaults on payment, the penal interest is a staggering 18%. Is not the difference staggering !!
I request the concerned authorities to please look into the matter.
Complaint marked as Resolved
Jan 15, 2014
L'solutions Private Limited 's response Dear Sir,
I represent Legalistic Solutions Private Limited, a legal consultancy firm in Noida; that represents numerous clients in such matters of subvention scheme fraud. We are currently handling several subvention fraud cases against the developer, where the buyers were not granted possession on time. Many of our clients had planned their expenses in accordance with the promises of property possession made by the developer. Due to the delay in completion of the project those clients are now forced to bear additional expenses as they are paying EMIs along with rent expenses for their current residences.
We are about to initiate negotiations with the developer and are contemplating our options. We have come up with the following alternatives-
1) Complete refund of the entire amount paid to the developer, from the bank as well as initial down payment made by the buyer, along with interest.
2) Allotment of property of similar value to the clients (assuming possession is immediately available).
As of now we have close to a dozen clients who have been duped by the subvention fraud and we would like to invite more complainants to join us in our effort to get compensation for our losses. The more complainants we have, the more pressure we can build upon the developer. Only by uniting can we force the large corporation to sit at the negotiating table.
If you are interested in joining our movement kindly drop us a mail at amit.[protected]@lsolutions.in or call us at [protected].
Warm Regards,
Team L’solutions
I think it is time to take strict action agains UNITECH for delaying the launch of the Cascades project in Greater Noida. I think they are taking their customers for granted. Do they realize that people have invested their hard earned money? Moreover, it seems that they are planning to charge escalated maintenance charges at the time of possession. This is simply ridiculous and strict action must be taken against the company. How about paying us a penalty at 10% Per Annum on the amount paid so far? How about revising the Rs 5/- psf penalty for delay to Rs 10/- psf?
Guys wake up or it will be too late!
I am a Unitech Verve Buyer.
Unitech is not building from 2007.And there is No Registery till Now. So we need to be united against Unitech Verve Builders.
We are meeting on 1st October at Unitech Builder Office in Sector 96 Noida from 9.30 to 12.00 A.M.
We have WhatsApp Group of Buyers.
Please join us if you are not already a member.
Please ping me for joining but do not call me.
With Regards
Hemant Garg
08527399881