IndiaBulls — refund of down payment of eco homes under greentech city, in vedic village kolkata

Address:448-451, Udyog Vihar, phase V, 122001

Dear mr. Sameer gehlout,
Ceo, indiabulls real estate,
It may please be noted that i had booked a one bhk flat on 1st december 2015 in the project eco homes developed by greentech it city pvt. Ltd (Vedic realty pvt. Ltd.) and marketed by indiabulls distribution services ltd.
Marketing executive of india bulls mr. Sunil agarwal along with vice president rupam das had shown me the project location and collected following amount from me –
Receipt no. Date application no. Amount
Mr-gceh/00702/15-16 1.12.2015 b - gtceh/00351/[protected].00
Mr-gceh/00806/15-16 15.12.2015 b - gtceh/00351/[protected].00
Mr-gceh/01134/15-16 15.01.2016 b - gtceh/00351/[protected].00
Mr-gceh/01448/15-16 15.02.2016 b - gtceh/00351/[protected].00
Mr-gceh/01912/15-16 15.03.2016 b - gtceh/00351/[protected].00
Mr-gceh/02385/15-16 15.04.2016 b - gtceh/00351/[protected].00
Mr-gceh/02641/15-16 15.05.2016 b - gtceh/00351/[protected].00

Provisional allotment letter for flat no. Hb-t-31 on 3rd floor in hb block was issued in favour of me @ rs. 2600/- per sq. Ft. For super built area of 460 sq. Ft. And total cost o[censored]nit along with open car parking was decided rs. 1396000/- plus applicable taxes if any. Payment term was 20% down payment and 80% during handover of flat where necessary home loan assistance will be provided by your company from central bank of india. Tentative completion of the project was indicated march 2020 which was agreeable to me.

Now when i observed that till date nothing has happened on this project on the ground, i had enquired your kolkata office about the status of the project and understood that in between developer has shifted his priority to some other project and this project is now on hold. Over and above it was understood that certain financial issues at developer’s end (Which could be due to sluggish real estate market overall) l has delayed the project further and your company representative indicated that there may be another 3 years’ time at least to complete this project but that is also uncertain.
Now the problem is i am getting superannuated from my service next year and i cannot approach to any bank for housing loan which is quite obvious.

Hence i cannot wait for another 3 years or god knows what time to complete this project and would request you to refund my down payment amount with at least 7% interest which amounts to around 4.25 lacs as on date. Since the project has not started so far there will be legally no hassle to refund the money back to the customer and oblige.

Hope you will understand the situation and help me out to resolve this issue because i have invested in this project looking at the association of indiabulls which is a brand name nationwide and was quite sure that there will no default of timeline of completion of project but now the experience is otherwise.
Thanks & regards
Amarnath bandyopadhyay – deputy general manager
Eicher trucks and buses |
Ve commercial vehicles ltd. (A volvo group and eicher motors joint venture)|
Unit no 11/1, 11th floor, merlin acropolis, 1858/1 rajdanga main road, kolkata 700107 |india
 phone no.: +[protected] | cell: +91 [protected] | : [protected]@vecv.in
 www.eicher.in 
Ve commercial vehicles. Driving modernization in the cv industry, in india and the developing world.
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