[Resolved] Unitech, Fresco — delay in possession | |||
In 2006 i booked a flat in Unitech, fresco,at Gurgaon, with agreement detailing possession in Mar 2009. I made full payment to unitech towards the flat. The company has delayed the project beyond reasonable time frame,thereby causing me great concern and trouble as i have taken a huge loan for the flat. Unitech is neither keeping me advised regarding the delays or showing any serious intent to speed the construction process now. As per the latest information which i was able to get out of customer support was a complete shock to me, the flat which i booked will be further delayed by a year. This is a complete display o[censored]nethical means adopted by the Company Unitech, taking advantage of the clause they use towards delay in possession with payment to client of Rs 5/sq ft. I can understand One yr delay due to various reasons but any thing more than that must be severely penalized as it reflects a planned and deliberate intend of the builder. Capt Vikram Yadav Was this information helpful? | |||
Aug 13, 2020 Complaint marked as Resolved | |||
 10 Comments | |||
Comments
I agree Unitech must be severely penalized.
Reply
Actualy being decent we cant expect anything.
Few o[censored]s go to there office and beat Sanjay Chandra and others from shoes...they only they will wake up.
Few o[censored]s go to there office and beat Sanjay Chandra and others from shoes...they only they will wake up.
The delays in real estate projects are the same for all the real estate developers across India. With different state governments coming up with crazy rules everyday, its really a hard time for real estate developers. But Unitech is the second largest real estate developer in India and have been in business for almost 40 years. You are not going to be duped by them. So just have patience and faith in the company. As far as the penalty payment due, the companies mostly deduct it from your last installment. So relax because patience pays.
Beats — Possession not given Even if Full Payment made
I have booked one flat in last year feb-2010. and builder told me for possession in dec-2010. Builder has completed work in feb-2011 and i have made full payment in the month of feb-11, even Stamp duty price also paid. After that builder is saying that he is in problem of income tax due to raid, so not did Dastawage. and then Jantri comes in picture to hold. Now builder is asking for Interest to do the Dastawage.Please suggest what I can do....
Waiting for help!!
Just checked the site and the same old story. Very few workers hardly 5-8 i could see in whole fresco.
Unitech will not complete it as per customer expectations because of following reasons -
1. As 3 years have passed, due to penality of rs 5 per sq feet now unitech, either no money or very less money is due from buyers side.
2. As untech to provide semi furnished apartement ( fridge, acs etc ) the cost that needs to be incurred before pocession is quite high.
For ex - lets say unitech to spend 20 lks on each apartment for making it ready for posessions. If they dont it for another 5 years they will make even 2.5 lacks / year ( 10 % being the minimal interest ) and making it compounded it would be even much higher. Where as they are just paying 1 lac as penality.
3. Interest rates being high, so unitech wont get cheap loans for thier new projects so they are syphoning money from fresco to their new projects.
So by business terms, delaying the project to as far as possible is in their interest. Only Customer complaints will help putting them in pressure.
So please escalate this to any extent you could do by whateever way u can otheriwse it will keep hanging forever. and who knows we may not get it for another 5 years.
Unitech will not complete it as per customer expectations because of following reasons -
1. As 3 years have passed, due to penality of rs 5 per sq feet now unitech, either no money or very less money is due from buyers side.
2. As untech to provide semi furnished apartement ( fridge, acs etc ) the cost that needs to be incurred before pocession is quite high.
For ex - lets say unitech to spend 20 lks on each apartment for making it ready for posessions. If they dont it for another 5 years they will make even 2.5 lacks / year ( 10 % being the minimal interest ) and making it compounded it would be even much higher. Where as they are just paying 1 lac as penality.
3. Interest rates being high, so unitech wont get cheap loans for thier new projects so they are syphoning money from fresco to their new projects.
So by business terms, delaying the project to as far as possible is in their interest. Only Customer complaints will help putting them in pressure.
So please escalate this to any extent you could do by whateever way u can otheriwse it will keep hanging forever. and who knows we may not get it for another 5 years.
Hi,
Had a chat with Unitech guyz yesterday and they have said that the project with get completed by March 2013...which is a standard 6 months extension to Oct 2012 promise...I have full faith that the project will not get completed then also, as I've been to the site regularly and since last 7-8 months nothing has moved...not even an inch...and if there is no adequate pressure, they won't move either.
If you are aware of some group moving court against Unitech, lets all get together, as we all are going through the same suffering and only collective efforts will bear fruits.
To begin with lets organize a meet in Fresco next saturday where we can see the state of affair for ourselves and decide the future course of action and if possible visit the Unitech office as a collective force.
What say?
Chees
Paurush
paurush.[protected]@gmail.com
Had a chat with Unitech guyz yesterday and they have said that the project with get completed by March 2013...which is a standard 6 months extension to Oct 2012 promise...I have full faith that the project will not get completed then also, as I've been to the site regularly and since last 7-8 months nothing has moved...not even an inch...and if there is no adequate pressure, they won't move either.
If you are aware of some group moving court against Unitech, lets all get together, as we all are going through the same suffering and only collective efforts will bear fruits.
To begin with lets organize a meet in Fresco next saturday where we can see the state of affair for ourselves and decide the future course of action and if possible visit the Unitech office as a collective force.
What say?
Chees
Paurush
paurush.[protected]@gmail.com
Pls help us because the hedphone which we have booked are not came we booked wireless hedphones but the hedphones we have received is with wire and the wire is also broken so pls take action on it
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