Gurgaon buyers protest delay in possession | india | Hindustan Times
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Gurgaon buyers protest delay in possession

Irked over the delay in construction of a township project for over two years, nearly 150 investors staged a protest in front of the office of the real estate developer — ABW — at Iffco Chowk on Saturday.

india Updated: Sep 22, 2012 23:43 IST
Himabindu Reddy

Irked over the delay in construction of a township project for over two years, nearly 150 investors staged a protest in front of the office of the real estate developer — ABW — at Iffco Chowk on Saturday.

The construction of the residential project — ABW Aditya Niketan — in Manesar was to commence in 2009 but could not following a legal tussle between the promoters.

The 105-acre project comprises low-rise apartments, plots and a four-floor commercial tower housing shops and offices.

More than a total 1,000 buyers have claimed that their money had been blocked in the project which has not progressed since its launch.

The buyers were reportedly promised possession by June 2013.

“I invested in the project in 2010. Though two years have passed, construction is yet to begin,” said Sumesh Sanan.

ABW managing director Atul Bansal, said, “The construction will start in the next two-and-a-half months. We don’t have any intentions of delaying the project. We are waiting for the stay order to be lifted.”

Investors demanded a clarification from the ABW Group on issues such as project status update and surety on delivery of the project, completion time along with builder-buyer agreements, documents that they submitted in court in response to a petition filed by one of their co-promoters, besides surety that the land will not be sold to any other builder and the project will not be scrapped.

ABW Buyers’ Association said there is a tussle between promoter Atul Bansal and Om Prakash, a farmer from whom they had purchased the land.