ILD Greens buyers protest at Hrera office over project delay

Home buyers of ILD Greens accused the developer of diverting funds to build other commercial projects and expressed their anger at the inability of the real estate authority to get the project work done.

More than 50 homebuyers of ILD Greens, a housing project in Gurugram’s Sector 37C that has been delayed by over seven years, on Tuesday staged a protest at the office of Haryana Real Estate Regulatory Authority (Hrera) in PWD guest house near Rajiv Chowk. The buyers accused the developer of diverting funds to build other commercial projects and expressed their anger at the inability of the real estate authority to get the project work done.

ILD Greens project has presently 550 buyers, a majority of whom are living on rent and also paying EMIs of loan, said the buyers gathered at the Hrera office. (Yogendra Kumar/HT Photo)

ILD Greens project has presently 550 buyers, a majority of whom are living on rent and also paying EMIs of loan, said the buyers gathered at the Hrera office.

The buyers said that despite repeated notices issued to the developer, there has been no progress and work is stalled at the site. The project, which was launched in 2008, was to be delivered in 2012. It has 720 apartments, but only a few have been delivered, claimed the buyers. “The developer has delivered only 150-odd apartments. Many people have invested their retirement funds to buy their dream flats, but the project is now stuck,” said Manmohan Sharma, a buyer.

Mohit Agarwal, another buyer who had bought a flat under subvention scheme, said that banks had started threatening to take legal action against him and many others as the developer, who had promised to pay the EMIs on their behalf as per the scheme, had failed to deposit the money. “What should we do? There seems to be no solution to the problem and Hrera has not been able to do much,” said Agarwal.

In a subvention scheme, a homebuyer has to pay only 10 to 20% of the flat cost at the time of purchase. The bank pays the balance to the developer as per an agreement between buyer, bank and developer. The buyer pays the EMI after getting possession of the house and when the project is being built the EMIs are paid by the developer to the bank.

When asked about the matter, Pratap Singh, secretary, Hrera, said that notices have been issued to the developer on this matter and the authority is considering the reply given by it. “We are trying to work out a solution. In case the builder is not ready to complete the project, we will have no option but hand it over to someone else as per rules,” he said.

When asked about the reply given by the developer regarding the project delay, Singh said, “The developer has informed that there are a large number of unsold units in the project that can be monetized and also around ₹39 crore as receivables from the current buyers. We are looking into the assertions as per the rules.”

The developer did not reply to repeated phone calls and messages.