3 yrs on, wait not over for homebuyers

Even three years after having invested their hard-earned money in a project of a leading real estate developer in Gurgaon, people are yet to get possession of their dream homes. Divya Sethi reports.

Even three years after having invested their hard-earned money in a project of a leading real estate developer in Gurgaon, people are yet to get possession of their dream homes. Although the buyers had paid up to 95% of the total cost, they have to put up with paying loans and rents.

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The applicants, who were supposed to get the possession in 2008, have accused Unitech of cheating them. Unitech that launched its Fresco housing project in 2005 was supposed to construct 17 towers, each with 50 flats, in Sector 50 by the end of 2008. The applicants started applying for the flats in 2005.

The construction of the project is still incomplete putting a big question mark on the intentions of the builder. Unitech has been committing that the possession would be handed over to the applicants soon. So far, the construction of only six towers is complete and residents have moved into these apartments.

“We will try to complete our work within the new schedule," said Raj Singh Mor, deputy GM, Unitech. However, he was not ready to divulge details regarding the fresh dates.