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Faridabad: Home owners left in a lurch after real estate group defaults on loan

| Feb 15, 2018, 08:14:39 PM | Mirror Now
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As many as 1200-1400 home owners of SRS Royal Hills in Greater Faridabad’s Sector 87 hang in balance after the property’s builder SRS Real Estate defaulted on a loan, due to which the lender, Canara Bank, has now taken the possession of the property. The home owners are now living under constant fear of being evicted from their flats by the bank. SRS Real Estate took a loan of Rs 105 crore from Canara Bank and failed to repay it, following which the bank sent a notice to residents that the property is in their possession till the loan amount is recovered from the builder.

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