Protest against builder for not completing project on time

GURGAON: From forceful taking over of apartment complex and its maintenance by the RWAs, Unitech Ltd has landed in yet another situation after buyers of its under-construction project - Uniworld Garden II - held a protest outside the builder's office on Saturday morning.
Residents alleged lack of communication from the builder's side on the exact time of completion for the project, which is now delayed for close to two years.The builder had launched the project in March 2009 and the buyers were promised that the handing over will take place within 30 months - in September 2011.
According to the buyers, most of whom are end-users, they are being burdened with having to pay EMI to the tune of Rs 30,000 to 35,000 per month on home loan and in parallel also paying almost Rs 25,000 as rent. Also, despite paying EMIs, the buyers are unable to avail income tax benefits since possession has not been offered.
Buyers also alleged that the current market rate in the neighbouring complexes, where possession was handed over, is in the range of Rs 12,500 per sq.ft, but due to delays in this particular project, the resale price is not more than Rs 7,000 per sq.ft.
"Looks like Unitech and dealers are deliberately delaying the project so that more and more owners sell these apartments. The flats will be sold at a later stage at a net profit of Rs 4,000-5,000 per sq ft," said a home buyer.
A Unitech Ltd, spokesperson said, "We would like to assure our customers of Uniworld Garden II that we are doing everything possible to expedite the completion and subsequent delivery of the property. While we appreciate the concern, the delay in completion is beyond our control, as the surrounding land is encroached by squatters. The encroached land belongs to HUDA and we are insistently pursuing with the relevant authorities to vacate the encroachment. We will also take up the matter with STP appealing for an early resolution."