Capital Gateway home buyers protest over 9-year delay in project

The developer said that the project has been taken over by a consortium of bankers, who have financed it under the Swamih fund to the tune of ₹121 crore

A group of home buyers of the Capital Gateway project in Gurugram’s Sector 111 protested at the site on Sunday against the nine-year delay in the completion and delivery of the project.

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The protesters alleged that as per the agreement, the project was supposed to be delivered in 2015, but has remained incomplete despite their repeated pleas to the developer and authorities.

Capital Gateway project was launched in 2010 by the Tashi Developers and comprises 10 towers, seven in phase-1 and three in phase-2. The project includes 534 flats, out of which 375 have been booked, said the Capital Gateway Buyers’ Welfare Association (CGBWA). The association claimed that most of the buyers have made 90 per cent to 100 per cent of the payment.

Group captain (retd) VK Singh, president, CGBWA, said that most of the buyers have paid between ₹60 lakh to ₹1.5 crore to buy these flats, but still the project has not been completed.

In phase-1, seven towers are 90 per cent complete, and in the phase-2, the three towers are 50 per cent finished, he said. “We also approached different agencies for relief and got orders for delayed penalty, but these were also not executed and people are left in the lurch. People are paying rents and EMIs,” said Singh.

The association also alleged that over the last year, the developer has changed the layout of the project, reduced green area and not provided community building as per the approved plan.

On Sunday, the association invited Badshahpur MLA Rakesh Daultabad to seek his intervention to resolve the issues.

Meanwhile, the developer said that the project has been taken over by a consortium of bankers, who have financed it under the Swamih fund to the tune of ₹121 crore.

“The bankers have taken over the project and they have appointed the technical and financial teams to execute this project. Seven towers of the project have already been completed, and we have applied for occupation certificates, which will be handed over to buyers soon. The remaining three towers will also be completed in the next six months,” said KN Shukla, promoter of Tashi Developers.